Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie mortgage rates, and there's generally a certain level of participation that traders and mortgage lenders can count on. That participation wanes on major holiday weeks and the remaining players tend to behave a bit more conservatively. This is seen in the form of interest rates staying inside recent boundaries and mortgage lenders not getting too aggressive with pricing. Inside those boundaries, however, movement is far less predictable . After all, with fewer players in the game, each trader has a bigger say in the direction rates will move. If there are more bonds being sold than bought, regardless of the motivation, rates will move higher. This

November 20, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Nov 20, 2017 Mortgage Rates Higher to Begin Holiday-Shortened Week Mon, Nov 20, 2017 2:46PM Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie mortgage rates, and there's generally a certain level of participation that traders and mortgage lenders can count on. That participation wanes on major holiday weeks and the remaining players tend to behave a bit more conservatively. This is seen in the form of interest rates staying inside recent boundaries and mortgage lenders not getting too aggressive with pricing. Inside those boundaries, however, movement is far less predictable . After al... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.05 -0.02   97.47 101.61 UMBS 30YR 6.0 102.35 -0.03   99.66 102.52 10 YR Treasury 4.090 +0.007   3.621 4.780 MBS Live Day Ahead: Thanksgiving Week in The Bond Market Mon, Nov 20, 2017 9:42AM Compared to stocks, bond markets tend to be more affected by changes in market participation surrounding holidays and other sources of illiquidity.  Liquidity is closely related to volume, but is certainly not the same .  The shortest defi... (read more) MBS Live Recap: Holiday Mode Engaged as Bonds Seek Center of Range Fri, Nov 17, 2017 5:28PM With today's modest gains, bond markets did exactly what they need to in order to keep the medium term momentum technicals perfectly flat (that flatness was discussed in the Day Ahead, if you'd like to read more about it).  That commentary mentioned bonds being "done for the holidays" in the title because the following week tends to be anyone's guess ... (read more) MBS Price Change UMBS 5.0 99.43 -0.01 UMBS 5.5 101.05 -0.03 UMBS 6.0 102.35 -0.03 GNMA 5.0 99.71 -0.02 GNMA 5.5 101.00 -0.04 GNMA 6.0 102.00 +0.02 Pricing as of: 9/9 10:04PM EST US Treasury Yield Change 2 YR Treasury 3.556 -0.012 5 YR Treasury 3.616 -0.011 7 YR Treasury 3.816 -0.016 10 YR Treasury 4.088 +0.004 30 YR Treasury 4.732 -0.003 Pricing as of: 9/9 10:04PM EST Other News Hurricanes, Timing Issues, Push Delinquencies Higher Mon, Nov 20, 2017 9:28AM Mortgage delinquencies surged higher in the third quarter of 2017. Most of the increase came in the early stages of non-performance, and much of it appeared to be driven by the late summer hurricanes. The Mortgage Bankers Association (MBA) reported the changes as were gathered in its National Delinquency Survey (NDS). The delinquency rate for mortgages jumpe... (read more) Q3 was "Rough Patch" for Housing; Q4 Indicators Not Positive Fri, Nov 17, 2017 5:29PM Housing activity in the third quarter of 2017 is described as "continuing its rough patch" in Fannie Mae's latest edition of Economic Developments . The company's economists say that activity pulled back across the board during the quarter. It was also the third in a row in which housing starts fell, although Friday's report on October residential constructi... (read more) Action at CFPB; Capital Markets Product Mon, Nov 20, 2017 9:14AM Thanksgiving week already! Let’s temporarily shift from residential lending to economics. According to the SalaryforPilot website, Air Force pilots earn an average yearly salary of $107,950, while Naval and Marine aviators earn $70,550 per year. That’s decent, given the benefits. Yet the U.S. Air Force has a 2,000-pilot shortage . With unemployme... (read more) Latest Video WSJ's Ken Brown: People need to be prepared for volatile markets Yellen to resign from Fed board when Powell sworn in October leading economic indicators up 1.2% Around the Web Federal Reserve Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans CNBC Janet Yellen to leave Fed after successor takes over as chair Freddie Mac Freddie Mac November 2017 Outlook PR Newswire Will the upward trend in economic growth continue in 2018? Bloomberg Draghi Says Inflation Rate Still Hasn't Yet Reached ECB Target Bloomberg Cleveland Fed Removes Report on Marketplace Lending for Clarification Calculated Risk Blog Lawler: Selected Operating Statistics, Large Publicly-Traded Home Builders CNBC Leading economic indicators rise 1.2 percent, double expectations consumerfinancemonitor.com House Financial Services Committee approves "Madden fix" bill Calculated Risk Blog Comments on October Housing Starts Bloomberg Trump Counts on Fed to Help Sustain Economic Bump From Tax Plan builderonline.com Federal Program Paid $800M to Frequently Flooded Homes CNBC US Treasurys edge higher as investors pivot attention to data, auction news

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