Mortgage rates moved lower today--significantly in some cases--with the average lender making it back to 2017's lows for the first time since January. Rates came close to 2017's lows in late February and again last week before officially crossing the line today. Bond markets (which drive mortgage rates) benefited from investors seeking safe haven after headlines broke regarding North Korea's nuclear threats against South Korea and The U.S. Other geopolitical considerations regarding Russia's potential involvement with Syrian gas attacks and the French election added to the bond market gains. As bonds gain ground, prices rise and rates move lower. Lenders are now fairly evenly split between 4.0% and 4.125% in terms of the most prevalent conventional 30yr fixed quote on top tier scenarios. A

April 11, 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 Apr 11, 2017 Mortgage Rates Hit New 2017 Lows Tue, Apr 11, 2017 4:30PM Mortgage rates moved lower today--significantly in some cases--with the average lender making it back to 2017's lows for the first time since January. Rates came close to 2017's lows in late February and again last week before officially crossing the line today. Bond markets (which drive mortgage rates) benefited from investors seeking safe haven after headlines broke regarding North Korea's nuclear threats against South Korea and The U.S. Other geopolitical considerations regarding Russia's potential involvement with Syrian gas attacks and the French election added to the bond market gains. A... (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: Light Calendar Remains; 10yr Auction in Focus Tue, Apr 11, 2017 9:01AM (NOTE: If you're subscribed to receive MBS Commentary emails, you will have received last Friday's Recap in error this morning.  Sorry for the confusion) For the 2nd day in a row, bond markets are generally deprived of potential market movers--at least in terms of scheduled economic data.  The calendar isn't totally empty, however.  At 1pm... (read more) MBS Live Recap: Rates Rise After Super Weak Jobs Data; Wait... What? Tue, Apr 11, 2017 8:14AM As the headline suggests, NFP (the "nonfarm payrolls" component of the big jobs report) was much weaker than expected today (98k vs 180k forecast).  On most any other NFP day in the history of the world, that's a free ticket to bond market gains for the entire day.  But not today! In fact, 10yr yields ended the day more than 4bps higher (with a... (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 Vacation Home Sales Plunged in 2016, Mortgage Use Up Tue, Apr 11, 2017 11:14AM While home sales in 2016 were the strongest in years, the National Association of Realtors® (NAR) said on Tuesday there was a shift in their composition. Sales of vacation homes fell significantly while owner-occupant and individual investor activity picked up. NAR's Investment and Vacation Home Buyers Survey, which covers sales of both new and existing ... (read more) Intent to Buy Wanes in Renter Survey Tue, Apr 11, 2017 9:17AM Renter households appear increasingly willing to stay as such, per Freddie Mac. The company has released results from its latest renter survey, conducted in March showing that 59 percent of renters surveyed said they plan to rent when they next move, a 4-percentage point increase from the last survey, conducted in September 2016. Those living in suburban hou... (read more) Vendor Products Updates; Webinars and Training Tue, Apr 11, 2017 9:09AM TD research finds rising home prices have driven up equity so much tha t 33% of millennial homeowners now say they are considering applying for a home equity line of credit in the next 18 months. I wonder if any of them are included in the CFPB's report that shows 8% of people pay 75% of all bank overdraft fees . How are those for trends? Vendors & produ... 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