Mortgage rates moved moderately higher this morning, beginning the day at the highest levels in roughly 2 weeks. Afternoon events helped underlying bond markets bounce back, however, resulting in several lenders issuing positive reprices. This means that some lenders are in slightly better shape vs yesterday while others remain in worse shape. All things being equal, any lender who did not adjust rate sheets this afternoon would have incentive to offer bigger improvements tomorrow morning. The key consideration for interest rates was today's release of the Minutes from the most recent Fed meeting. The Minutes provide a more detailed account of the meetings where the Fed officially sets monetary policy. The policy statement is several hundred words while the Minutes are several thousand words

May 24, 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 May 24, 2017 Upward Mortgage Rate Momentum Pauses After Fed Wed, May 24, 2017 3:35PM Mortgage rates moved moderately higher this morning, beginning the day at the highest levels in roughly 2 weeks. Afternoon events helped underlying bond markets bounce back, however, resulting in several lenders issuing positive reprices. This means that some lenders are in slightly better shape vs yesterday while others remain in worse shape. All things being equal, any lender who did not adjust rate sheets this afternoon would have incentive to offer bigger improvements tomorrow morning. The key consideration for interest rates was today's release of the Minutes from the most recent Fed meet... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Apex of Bond Supply and Fed Minutes Wed, May 24, 2017 9:16AM Today's main event from a "street cred" standpoint will be the 2pm release of the Minutes from the last Fed meeting .  This is a detailed account of the discussion that produced the Fed Announcement at the beginning of May (which contained no significant changes).   In some ways, the Minutes from the meetings with no significant changes are pot... (read more) MBS Live Recap: Bonds Bounce Back After Fed/Auction Combo Wed, May 24, 2017 4:45PM Bonds began the day in inconsequentially stronger territory and soon moved to the worst levels in a week leading up to the 5yr Treasury auction.  The auction's stats were much stronger compared to recent averages.  This would normally bode well for bond markets (and today was no exception), but we might be justified in reading a little bit more p... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 6:59AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.060 +0.021 30 YR Treasury 4.718 +0.028 Pricing as of: 9/9 6:59AM EST Other News Existing Home Sales Decline Slightly; Inventory Issues Persist Wed, May 24, 2017 10:04AM Existing homes declined in April, falling back by 2.3 percent in April when compared to March 2017 levels. The National Association of Realtors® (NAR) said the month's transactions, which include those for single-family houses, townhouses, condos and cooperative apartments, were at a seasonally adjusted annual rate of 5.57 million . March sales were revi... (read more) Price Gains Decelerate But Remain Over 6 Percent Annually Wed, May 24, 2017 9:56AM The Federal Housing Finance Agency (FHFA) is reporting another significantly high set of results for its Housing Price Index (HPI). The current values cover results for the quarter, month, and year. Based on purchase mortgages originated for Fannie Mae and Freddie Mac, FHFA puts the national increase in home prices in the first quarter of this year at 1.4 pe... (read more) New Home Sales; Title Company Cuts Fees; Guild's 1% Down Product Wed, May 24, 2017 8:43AM Trends in New Home Sales "Pending" Home Sales, "Existing" Home Sales, and "New" Home Sales - take your pick. They all show something slightly different, and economists have their favorites. Housing and jobs play critical roles in the United States economy, thus the abundance of various statistics for each one. What have New Home Sales been doing recently? Th... (read more) Latest Video Fed: Balance sheet should be reduced this year Trading Nation: The Fed and the bond trade Fed set to reduce balance sheet this year Around the Web Calculated Risk Blog FOMC Minutes: More details on Balance Sheet Reduction CNBC Fed balance sheet unwind 'absolutely' reduces chance of more rate hikes: Former Dallas Fed advisor Calculated Risk Blog Black Knight: Mortgage Delinquencies Increased in April CNBC Fed sets process to unravel $4.5 trillion balance sheet NAHB Eye on Housing Trends in Delinquency Rates Point to Continued Healing Market Watch Homeowners hate Zestimates' so Zillow awarding $1 million to improve its model Calculated Risk Blog A Few Comments on April Existing Home Sales CNBC It's cheaper to buy a home than rent but you have to find one first CNBC US economy can do the 3% growth assumed in Trump's budget, Mohamed El-Erian says Freddie Mac Freddie Mac May 2017 Outlook CNBC The Fed wants to raise rates this year. One thing could stand in the way CNBC Paul Ryan wants to put tax reform on Trump's desk by Christmas bkfs.com Black Knight Financial Services' First Look at April 2017 Mortgage Data

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.