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 12, 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 12, 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: Bonds Continue Following Risk Trade, Even if it Means Breaking The Range Wed, Apr 12, 2017 9:07AM Yesterday, it became increasingly clear in the middle of the trading session that bond markets were responding to the "risk-off" trading motivations associated with the North Korea news.  If you're not sure what "risk-off" refers to, read this... (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 Important Mortgage Performance Metric Best in 10 Years Wed, Apr 12, 2017 11:53AM Early state mortgage delinquencies are an important measure of mortgage market health, and CoreLogic reports they are continuing to decline . In January, the company found 5.3 percent of mortgaged homeowners were 30 days or more behind in their payments, down by 1.1 percentage points from the delinquency rate in January 2016. Serious delinquencies, loans 90 ... (read more) Purchase Loan Applications Set New Price Record Wed, Apr 12, 2017 8:26AM The volume of mortgage applications reversed a three-week losing streak to rise 1.5 percent on a seasonally adjusted basis last week. The Mortgage Bankers Association said its Market Composite Index for the week ended April 7 was also higher on an unadjusted basis, up 3 percent. Refinancing applications, which had declined in each of the previous three weeks... (read more) 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) Lender Product News; Trends in Closing and eClosing Processes Wed, Apr 12, 2017 9:24AM “Marriage is a legal and religious alliance entered into by a man who can’t sleep with the window shut and a woman who can’t sleep with the window open.” So said Ogden Nash. Being married matters in taxes. The current GOP tax reform plan adjusts the respective limits for itemized deductions and the standard deduction. Specifically, it... (read more) Latest Video Trump: Dollar is getting too-strong -WSJ Santelli Exchange: Fmr. FDIC Chairman on regulatory & housing finance refor... All-America Economic Survey: Stock market optimism at 10-year high Around the Web CNBC Trump says he is undecided about renominating Yellen Calculated Risk Blog Mortgage Rates below 4% Again? 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