Mortgage rates began the day in decent shape with the average lender roughly unchanged versus yesterday. As the day progressed, bond markets (which dictate rates) weakened. Most lenders were forced to reissue slightly higher rates in the afternoon. Any lenders who didn't raise rates this afternoon will instead have to account for the weakness in tomorrow morning's rate sheets. In other words, some lenders will be offering higher rates tomorrow morning, even if markets don't move at all between now and then. Over the past few days, it's not only been easy, but downright logical to dismiss mortgage rate movement as being very small in the bigger picture. While that remains true for today's mortgage rates, today's bond market movement suggests a bit more caution heading into the holiday weekend

May 23, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Remain Under Pressure Mortgage rates began the day in decent shape with the average lender roughly unchanged versus yesterday. As the day progressed, bond markets (which dictate rates) weakened. Most lenders were forced to reissue slightly higher rates in the afternoon. A... (read more) Housing News HUD Budget Drops by $16 Billion, FHA, GNMA Appear Unscathed The U.S. Department of Housing and Urban Development (HUD) released its proposed 2018 budget on Tuesday, saying it will continue to provide rental assistance for 4.5 million households. The bottom line is about $41 billion in discretionary spending, ... (read more) MBS Commentary MBS Live Recap: Supply and Headlines Weigh on Bonds Much like the week before last, we're seeing an abundance of new "supply" hitting the bond market.  This comes both in the form of the scheduled Treasury auctions as well as the more fluid world of corporate bond issuance.  Traders genera... (read more) Housing News New Home Sales Contract Sharply in April Sales of newly constructed homes lost momentum in April, reversing three straight months of gains. The Census Bureau and the Department of Housing and Urban Development said sales were down 11.4 percent from March to a seasonally adjusted annual rate... (read more) MBS Commentary MBS Live Day Ahead: Bonds Stalled Despite Stocks. What Are They Waiting For? Although yields have risen modestly over the past 3 trading session, they've done so from the best levels in more than 7 months.  If we take a few steps back from the narrow time frame that we watch from day-to-day and think about the broader re... (read more) Rob Chrisman HMDA Training; Misc. Updates on Policies, Documentation, and Underwriting I do my best to group updates to create a narrative that is more "user friendly" than to just throw news out there. But some updates don't fit into convenient groups, like "FHA & VA," or "CFPB-related policy changes" that lenders implement. So pe... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.90 +0.05 Price / Yield Change MBS UMBS 5.5 99.90 +0.06 UMBS 6.0 101.60 +0.04 GNMA 5.5 100.05 +0.08 GNMA 6.0 101.46 +0.05 Pricing as of: 7/3 1:50AM EST 10 Year US Treasury 4.2661 -0.0137 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.018 5 YR Treasury 3.852 -0.015 7 YR Treasury 4.040 -0.016 10 YR Treasury 4.267 -0.013 30 YR Treasury 4.793 -0.015 Pricing as of: 7/3 1:50AM EST Latest Video Trump budget seeks cuts to taxes and safety net programs Sec. Mnuchin: We had to make difficult budget decisions Big drop in April new homes sales Around the Web Fannie Mae Fannie Mae Introduces Healthy Housing Rewards Initiative for ... Freddie Mac Helping Deserving but Underserved Markets NAHB Eye on Housing AD&C Financing Standards Continue to Ease Calculated Risk Blog A few Comments on April New Home Sales HUD Trump Administration Proposes 2018 HUD Budget Freddie Mac Freddie Mac Announces Pricing of $237.5 Million Multifamily Small Balance Loan Securitization Freddie Mac Freddie Mac Prices $345.6 Million Multifamily K-Deal Reuters Trump budget to increase growth by boosting investment, labor force: Mnuchin CNBC Treasury's Mnuchin on tax reform: 'Our objective is to get it done this year' PR Newswire Short Supply Of Homes Hampers Greater Boston Housing Market In April Market Watch Fed's Kashkari says soft inflation readings are 'concerning' CNBC Bond market warning? A closely watched economic indicator just hit a postelection low Bloomberg In Home Capital's Mortgage Mess, Blame the 'Unlucky' Brokers

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