Mortgage rates moved modestly higher today despite bigger movement in underlying bond markets. In part, this is a byproduct of the way rates behaved at the end of last week, when lenders didn't adjust rates lower as quickly as bond market strength would have suggested. In short, rates are playing it closer to the vest while the bonds that underlie and inform rate movement have been a bit more volatile. Bonds and rates frequently react to economic reports and other news that speaks to the health of the economy or the rate-setting policies of the Federal Reserve. Although we did have a key report on new home construction and several speakers from the Fed today, rates were preoccupied with less overt motivations. One example would be bond traders who decided to sell bonds today simply because

October 18, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Rise Only Modestly Despite Market Weakness Mortgage rates moved modestly higher today despite bigger movement in underlying bond markets. In part, this is a byproduct of the way rates behaved at the end of last week, when lenders didn't adjust rates lower as quickly as bond market strength wo... (read more) Housing News Housing Starts Still Under The Weather; Single-Family Permits on The Mend The U.S. Census Bureau is mum on causation, but results from the southern region would indicate that the August and September hurricanes probably drove declines in both housing permits (except those for single-family residences) and housing starts in... (read more) Housing News Mortgage Applications Regain Footing The volume of mortgage applications increased last week for the first time since early September. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 3.6 percent on a seasonally adjusted basis during... (read more) MBS Commentary MBS Live Day Ahead: Time For That Mid-October Craziness in Bonds Ah mid-October... All too often in the 2009-2014 time frame, we'd seen abrupt reversals of trends at this time of month.  We haven't really been on the lookout for that old behavior because 2014 seemed to mark a shift in that trend. ... (read more) Housing News Hurricanes Impact on Housing Could Last Fannie Mae has lowered its third quarter projections for GDP growth by 0.2 percent to an annualized 2.4 percent based on its assessment of the overall impacts of the recent hurricanes. The company's Economic and Strategic Research (ESR) Group says th... (read more) MBS Commentary MBS Live Recap: Bonds Scramble Back to Unchanged, Leaving Outlook Cloudy Treasuries and MBS have spent the past 2 days trading well inside the range set by last Friday's volatility (big rally following CPI data).  Unfortunately, the central tendency during those 2 days has been toward moderately weaker levels. ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.41 -0.10 Price / Yield Change MBS UMBS 5.5 99.37 -0.13 UMBS 6.0 101.29 -0.10 GNMA 5.5 99.62 -0.16 GNMA 6.0 101.26 -0.06 Pricing as of: 7/23 12:47PM EST 10 Year US Treasury 4.3758 +0.0298 Price / Yield Change US Treasury 2 YR Treasury 3.865 +0.036 5 YR Treasury 3.920 +0.035 7 YR Treasury 4.135 +0.037 10 YR Treasury 4.381 +0.035 30 YR Treasury 4.951 +0.034 Pricing as of: 7/23 12:47PM EST Latest Video Fed likely to stick to gradual hikes: Evercore's Krishna Guha Treasurys on the move Investors don't know how to price in tax reform right now: JPMorgan's Jack ... Around the Web Market Watch Here's how the Fed is flattening the yield curve Calculated Risk Blog Fed's Beige Book: "Modest to moderate"expansion, Labor markets "Tight" NAR - Realtor.com Why Fewer New Homes Are on the Horizon Despite the Housing Shortage CNBC Why the market is wrong about John Taylor, who Trump might make the Fed chief consumerfinancemonitor.com CFPB further updates HMDA Rule guidance materials CNBC Bond market flashing warning sign even as stocks rally to new highs Calculated Risk Blog AIA: Architecture Billings Index "Backslides Slightly" in September PR Newswire California housing market eases into fall homebuying season, C.A.R. Reports CNBC 'The housing market can't take the shock of a natural event,' real estate economist warns Market Watch Bond Report: 2-year Treasury yield hits fresh 2008 high as prospect of December hike looms CNBC Rising seas threaten nearly $1 trillion worth of US homes, and most are moderately priced: Zillow Reuters U.S. housing starts fall to one-year low CNBC Mnuchin: The stock market will see 'significant' drop if tax reform doesn't pass

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