Mortgage rates were slightly higher today, on average, but some lenders were unchanged from yesterday. Others were quoting higher rates in the morning and then issued positive reprices in the afternoon (i.e. mid-day improvements), bringing them back in line with the rest of the pack. In the slightly bigger picture, rates remain closer to 4 week lows. Since Dec 8th, only yesterday was any better. 4.25% remains the most prevalent conventional 30yr fixed quote on top tier scenarios. Some of the more aggressive lenders are still down at 4.125% and a few haven't made it down from 4.375% yet. Compared to yesterday, today's movement would only be seen in the form of slightly higher upfront costs (as opposed to in the "note rate" itself). With 2 days down, 2017 is shaping up to be less threatening

January 4, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jan 4, 2017 Mortgage Rates Steady to Slightly Higher Wed, Jan 4, 2017 4:13PM Mortgage rates were slightly higher today, on average, but some lenders were unchanged from yesterday. Others were quoting higher rates in the morning and then issued positive reprices in the afternoon (i.e. mid-day improvements), bringing them back in line with the rest of the pack. In the slightly bigger picture, rates remain closer to 4 week lows. Since Dec 8th, only yesterday was any better. 4.25% remains the most prevalent conventional 30yr fixed quote on top tier scenarios. Some of the more aggressive lenders are still down at 4.125% and a few haven't made it down from 4.375% yet. Compar... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.54 -0.05   95.05 100.47 UMBS 30YR 5.5 101.07 +0.04   97.47 101.61 10 YR Treasury 4.103 +0.022   3.706 4.780 MBS Live Day Ahead: Rescheduled ADP Leaves Bonds Without Major Data Wed, Jan 4, 2017 8:52AM NOTE: This paragraph will be at the top of the Day Ahead for a few weeks.  Once you've read it, feel free to skip it.  The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerations.  I'll still be doing that, but in posts on MBS Live and under the 'General Commentary' heading (whic... (read more) MBS Live Recap: Bonds Relax After Epic Glut of Corporate Issuance Tue, Jan 3, 2017 5:37PM Bonds began the new year on the defensive thanks to a deluge of corporate bond issuance as well as stronger ISM Manufacturing data.  By 10:15am, 10yr yields were at their highest levels of the day, and nearly 7bps higher than last week's close.  Fannie 3.5 MBS were more than 3/8ths of a point weaker. But that's when the comeback began.  ... (read more) MBS Price Change UMBS 4.5 97.50 -0.12 UMBS 5.0 99.53 -0.05 UMBS 5.5 101.06 +0.03 GNMA 4.5 97.55 -0.47 GNMA 5.0 99.76 -0.07 GNMA 5.5 100.94 +0.05 Pricing as of: 9/18 2:08PM EST US Treasury Yield Change 2 YR Treasury 3.565 +0.001 5 YR Treasury 3.661 +0.005 7 YR Treasury 3.853 +0.014 10 YR Treasury 4.106 +0.025 30 YR Treasury 4.721 +0.033 Pricing as of: 9/18 2:08PM EST Other News A New Twist on Owner Occupancy Fraud Wed, Jan 4, 2017 11:43AM We often hear that there is no such thing as a perfect crime. Perhaps that is why there is always a fraudster trying to improve them. CoreLogic says the newest wrinkle in mortgage fraud is a reverse approach to the old misrepresenting occupancy scam. Traditionally it has been prospective investors who have claimed they intend owner occupancy . By posing as a... (read more) Refi Apps Tumble, Even After Adjusting For Holidays Wed, Jan 4, 2017 9:11AM The Mortgage Bankers Association returned from its holiday hiatus today, issuing its first update on mortgage applications' activity since that for the week ended December 16. The results thus include data for the last two weeks and an adjustment to account for the Christmas holiday. The Market Composite Index, a measure of application volume, for the week e... (read more) Credit Companies Penalized; FHA and VA Lender Changes Wed, Jan 4, 2017 9:19AM Any LO looking for opportunity should look no further than this statistic: there were 189,100 multifamily rental units completed between the fourth quarter of 2015 and the third quarter of 2016 across 54 U.S. metropolitan areas. Of those units, 84 percent were “luxury,” which seems ridiculous. If everything is luxury , is anything luxury? Snide c... (read more) Latest Video Fed frets fiscal policies Futures Now: Treasury yields edge higher Looks like it's a buyer's market in Manhattan, if you're wealthy Around the Web CNBC Traders keep bets on two Fed rate hikes in 2017 CNBC Fed minutes: Fed concerned more fiscal policy could raise demand above sustainable levels Federal Reserve Minutes of the Federal Open Market Committee, December 13-14, 2016 builderonline.com Another Fat Year for Real Estate? Six Housing Market Predictions for 2017 The Atlantic Credit Scores Are a Scam OCC OCC Reports Improved Mortgage Performance in Third Quarter of 2016 CNBC Investors hate real estate stocks and that could be good news for the sector Bloomberg Harvard Academic Sees Debt Rout Worse Than 1994 Bond Massacre' Reuters U.S. LIBOR breaks above 1 percent for first time since 2009 Calculated Risk Blog Reis: Office Vacancy Rate declined in Q4 to 15.7% Gallup U.S. Job Creation Index Ends 2016 on High Note Bloomberg Manhattan Home Prices Fall as Sellers Concede to Slowing Market CNBC Why 2017 will finally be the year of the smart home: Consumers figure it out

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