Mortgage rates moved higher today in most cases, but not by much. More interesting is the fact that rates held their ground as well as they did considering several strong economic reports this morning. Strong economic data typically leads investors to sell bonds, which in turn results in lower bond prices and higher rates. This morning's dynamic was quite different . While the stronger economic data was briefly acknowledged with some temporary weakness in bonds, the broader trend remained favorable. Bonds actually improved a bit heading into the afternoon. If today's rate sheets were based solely on this morning's market movement, rates would be slightly lower compared to yesterday. But lenders still had to account for some of yesterday's late day bond market weakness. Today's modestly higher

February 28, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Feb 28, 2017 Mortgage Rates Modestly Higher Ahead of Trump Speech Tue, Feb 28, 2017 2:32PM Mortgage rates moved higher today in most cases, but not by much. More interesting is the fact that rates held their ground as well as they did considering several strong economic reports this morning. Strong economic data typically leads investors to sell bonds, which in turn results in lower bond prices and higher rates. This morning's dynamic was quite different . While the stronger economic data was briefly acknowledged with some temporary weakness in bonds, the broader trend remained favorable. Bonds actually improved a bit heading into the afternoon. If today's rate sheets were based sol... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.73 +0.01   95.05 99.96 UMBS 30YR 5.5 101.11 +0.01   97.47 101.28 10 YR Treasury 4.026 -0.004   3.932 4.780 MBS Live Day Ahead: More Econ Data and "Month-End," But Trump Speech Looms Tue, Feb 28, 2017 8:30AM Today is the last day of February.   'Month-end' is different than other days for bond markets because it serves as a deadline for money managers to match their holdings with various indices.  Long story short, when a particular fund says ... (read more) MBS Price Change UMBS 4.5 97.75 -0.01 UMBS 5.0 99.73 +0.01 UMBS 5.5 101.11 +0.01 GNMA 4.5 97.76 +0.02 GNMA 5.0 99.97 +0.04 GNMA 5.5 101.01 +0.08 Pricing as of: 10/15 9:22PM EST US Treasury Yield Change 2 YR Treasury 3.494 -0.006 5 YR Treasury 3.613 -0.007 7 YR Treasury 3.799 -0.006 10 YR Treasury 4.026 -0.004 30 YR Treasury 4.625 -0.001 Pricing as of: 10/15 9:22PM EST Other News Cash, Distressed Sales Closing in on "Normal" Tue, Feb 28, 2017 10:11AM The end is near. CoreLogic said today that the market share of home sales accounted for by distressed properties may return to normal levels by the end of this year. This is about a half year earlier than the company had been predicting as recently as last month. Distressed homes sales accounted for 7.5 percent of home sales in November with sales of bank-ow... (read more) Home Price Appreciation Highest in 30 Months -Case-Shiller Tue, Feb 28, 2017 10:07AM Home prices accelerated their growth again in December. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, rose by 5.8 percent compared to one year earlier. In November the gain over the previous 12 months was 5.6 percent. The year-over-year increase has been larger each month since July and Ca... (read more) Black Knight's HPI Holds on to Late Year Gains Tue, Feb 28, 2017 10:09AM Black Knight Financial Services reported on Monday that its Home Price Index posted another 5.7 percent annual increase in the national rate of appreciation. Over the course of 2016 prices rose on a year-over-year basis by an average of 5.4 percent each month, however appreciation accelerated into the later months and the December increase tied with November... (read more) Training and Events Ranging From Cybersecurity to Taking an App; ECOA Legal Opinion Tue, Feb 28, 2017 9:46AM The last day of February, already? Wasn’t it just New Years? Time flies by, things progress. Yesterday the Chamber of Digital Commerce, the world’s largest trade association representing the blockchain industry, and the Structured Finance Industry Group (SFIG) announced the formation of a strategic partnership focused on advancing the use of bloc... (read more) Latest Video Markets stall ahead of Trump speech Santelli Exchange: 'Feel-good indices' feel better Consumer confidence at 114.8 in February Around the Web Market Watch Fed's Williams says there will be serious consideration' of interest rate hike at March meeting Market Watch Trump tax plan, not even on drawing board, is already roiling rental housing Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in November NPR Trump May Weigh In On H-1B Visas, But Major Reform Depends On Congress Redfin Everything to Know About Buying a Home Without a Real Estate Agent wellsfargo.com Wells Fargo Commits to Increase African American Homeownership blog.stewart.com State Corporate Income Tax Rates CNBC Consumer confidence hits best level since July 2001 Bloomberg Why It's So Hard to Build the Next Silicon Valley Freddie Mac Freddie Mac February 2017 Outlook Redfin The Redfin Housing Demand Index Continued Record Climb in January Reuters House Financial Services chairman sees Dodd-Frank reform this year Reuters JPMorgan expects 2017 expenses to rise about 3.4 percent

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