There are several news stories out today that reference LOWER rates this week. These all rely on stale survey data that failed to account for changes over the past 2 days. Mortgage rates actually continued higher today at the same quicker pace seen yesterday. Due to the relatively narrow range during November, rates are now in line with their highest levels in more than a month whereas they were at 2-week lows just 2 days ago. The average lender is now quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, with a few outliers at 3.875% and 4.125%. A few days ago, 3.875% was nearly as prevalent. As we discussed yesterday, the potential tax bill has had a pretty consistent relationship with rates. To whatever extent it looks passable, rates have generally moved higher. Today was

November 30, 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 30, 2017 Mortgage Rates Hit 1-Month Highs Thu, Nov 30, 2017 4:12PM There are several news stories out today that reference LOWER rates this week. These all rely on stale survey data that failed to account for changes over the past 2 days. Mortgage rates actually continued higher today at the same quicker pace seen yesterday. Due to the relatively narrow range during November, rates are now in line with their highest levels in more than a month whereas they were at 2-week lows just 2 days ago. The average lender is now quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, with a few outliers at 3.875% and 4.125%. A few days ago, 3.875% was nearl... (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 5.5 101.07 -0.21   97.47 101.61 UMBS 30YR 6.0 102.38 -0.16   99.66 102.50 10 YR Treasury 4.083 +0.044   3.621 4.780 MBS Live Day Ahead: Bonds on Edge as Tax Vote Could Come At Any time Thu, Nov 30, 2017 9:40AM Bonds are beginning the day in roughly unchanged territory, but that's not a good thing as far as the bigger picture is concerned.  "Unchanged territory" means that yields are right on the edge of a very long-term range.  In fact, with th... (read more) MBS Live Recap: Bonds Dragged Into Danger Zone Ahead of Tax Vote Thu, Nov 30, 2017 4:55PM As discussed in detail in the daily video on MBS Live, today's bond market weakness was multifaceted , to say the least.  But if we want to make the move higher in stocks and bond yields about one thing and one thing only, we can continue to talk about the prospects for the tax bill passing.  In that regard, today's big to-do was a change of heart... (read more) MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 6:24PM EST US Treasury Yield Change 2 YR Treasury 3.568 +0.080 5 YR Treasury 3.627 +0.065 7 YR Treasury 3.832 +0.064 10 YR Treasury 4.083 +0.044 30 YR Treasury 4.735 +0.044 Pricing as of: 9/9 6:24PM EST Other News Are New Loan Limits Already At Risk? Thu, Nov 30, 2017 9:57AM The issue of Fannie Mae and Freddie Mac and their about-to-be-zero capital buffers has fallen off the radar in recent months, but apparently there is some movement behind the scenes. A little background: The GSEs were put into conservatorship in 2008 after each lost substantial amounts of money as loans defaulted. The two were given access to massive lines o... (read more) Loan Production Expenses Hurt Bank Profits Thu, Nov 30, 2017 12:29PM Mortgage bank profits declined in the third quarter of 2017 when compared to the second quarter, but remained substantially higher than in the two rather disastrous quarters that preceded it. The Mortgage Bankers Association (MBA) says that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $929 on each loan they o... (read more) Lender Survey of Issues; Servicing News and Primer - Values Matter Thu, Nov 30, 2017 9:18AM In non-residential news, just because people have to eat doesn’t mean every grocery store chain thrives. There is chatter out there in the commercial sector that Southeastern Grocers (think Winn-Dixie, Bi-Lo, Harvey’s, Fresco y Mas) could be heading for a bankruptcy filing. The firm has a significant amount of debt maturing over the next two year... (read more) Latest Video Senate tax bill would raise GDP 0.8% over 10 years, says Joint Tax Committe... House working on stop gap to extend government funding November Chicago PMI 63.9 vs. 63.0 est. Around the Web Bloomberg Mester Joins Powell Seeing Case Building for December Fed Hike Fannie Mae Fannie Mae Releases October 2017 Monthly Summary ... CNBC Senate tax bill would pay for less than half of proposed cuts, congressional analysis says Reuters House resorting to series of temporary funding bills Reuters Dow tops 24,000 as tax bill garners crucial support CNBC Fed's Quarles warns of 'serious financial stability issues' from cryptocurrencies Calculated Risk Blog Hotel Occupancy Rate Increased Year-over-Year, On Pace for Record Year Brookings Institution Hutchins Roundup: Student loan nudges, slow productivity growth and interest rates, and more CNBC McCain will support Senate tax bill, boosting its chances of passage Freddie Mac Mortgage Rates Inch Lower Calculated Risk Blog Personal Income increased 0.4% in October, Spending increased 0.3% NAHB Eye on Housing Growth Rate for Residential Construction Loans Picks Up CNBC US weekly jobless claims total 238,000, vs 240,000 expected

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