Mortgage rates were very slightly lower today, but not by enough to have an impact on the actual interest rates being quoted. Specifically, the "effective rate"--which factors upfront costs into an overall cost of financing is slightly lower due to changes in those upfront costs. But borrowers will be seeing the same interest rate at the top of the page on today's loan quotes compared to yesterday. In the bigger picture, rates are merely hovering around the highest levels in more than 2 months. Just 3 and a half weeks ago, they were at the best levels in more than 10 months. As dramatic as that sounds, the average top-tier conventional 30yr fixed rate quote has only moved an eighth of a percent higher during that time. The bigger concern would be a move higher from here. Both Treasury yields

October 4, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Oct 4, 2017 Mortgage Rates Still Holding Near Recent Highs Wed, Oct 4, 2017 2:19PM Mortgage rates were very slightly lower today, but not by enough to have an impact on the actual interest rates being quoted. Specifically, the "effective rate"--which factors upfront costs into an overall cost of financing is slightly lower due to changes in those upfront costs. But borrowers will be seeing the same interest rate at the top of the page on today's loan quotes compared to yesterday. In the bigger picture, rates are merely hovering around the highest levels in more than 2 months. Just 3 and a half weeks ago, they were at the best levels in more than 10 months. As dramatic as tha... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Time to Ramp up Focus on Europe Again? Wed, Oct 4, 2017 9:11AM In 2011-2016, Europe was the dark horse market mover that ended up winning the race.  Far too few domestic market participants appreciated the impact of the currency contagion drama in 2011-2012, the onset of ECB QE in 2014-2015, or Brexit in 20... (read more) MBS Live Recap: Small Gains Leave Broader Losses Intact Tue, Oct 3, 2017 4:36PM Both yesterday and today have been the sort of days that just haven't mattered in the slightest for bond markets. Yesterday was spent consolidating the losses seen through the end of last week.  Today saw a similar consolidation, despite trading levels finishing slightly stronger compared to yesterday's close.  Before getting too excited about th... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Fannie and Freddie Capital Buffers Can't Wait -FHFA Director Wed, Oct 4, 2017 11:48AM While assuring members of Congress that it is their role to make decisions about housing finance reform, Melvin L. Watt, Director of the Federal Housing Finance Agency (FHFA), made it clear that the issue of GSE capital buffers was one decision that cannot wait. Watt, speaking to members of the House Financial Services Committee on Tuesday, said the statutor... (read more) Small Gains in Purchase Apps Nearly Offset Downturn in Refis Wed, Oct 4, 2017 8:33AM Once again, a slowdown in refinancing overcame a slight improvement in applications for purchase mortgages, sending the Mortgage Bankers Association's (MBA's) Market Composite Index lower for the week ended September 29. The Index, a measure of application volume, declined 0.4 percent on a seasonally adjusted basis from its level the previous week, and was d... (read more) Servicing Law Changes; A Flashback to Servicing 10 Years Ago Wed, Oct 4, 2017 9:19AM Hey, I am all in favor of the tiny house movement…if I have room for my bottle cap collection, antique banks, gumball machines, Spirograph and Battling Tops games, Santa in the manger nativity scene for the roof in December, several old copper fire extinguishers, and my father’s navy memorabilia from WWII and Korea. And Myrtle’s litter box... (read more) Latest Video We're not anywhere near bubble conditions: Zillow chief economist Minneapolis Fed President Neel Kashkari not being considered for Fed Chair ... ADP September payrolls up 135K Around the Web Reuters Hurricanes hit U.S. hiring in September, services sector resilient CNBC 10 U.S. cities where you need to earn over $100,000 to afford a house Reuters U.S. lawmakers seek to shut banks that harm consumers NAHB Eye on Housing Consumer Confidence Sheds Some Lights on New Home Sales NAR - Realtor.com The Millennial Mortgage Problem: Down Payments and Expensive Cities Calculated Risk Blog September Employment Preview CNBC How the Yahoo hack stacks up to previous data breaches NAHB Eye on Housing Large Builder Share Edges Upward in Major Markets Redfin Time to Renovate the Mortgage Interest Deduction Bloomberg Jeffrey Gundlach Predicts Neel Kashkari Will Be Next Fed Chair Calculated Risk Blog ISM Non-Manufacturing Index increased to 59.8% in September Market Watch Wells Fargo to refund mortgage rate lock extension fees that were charged inappropriately Market Watch Bond Report: Treasury yields retreat as global stocks turn lower, dollar softens

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