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: Mortgage Rate Watch Upward Mortgage Rate Momentum Pauses After Fed 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 ... (read more) Housing News Existing Home Sales Decline Slightly; Inventory Issues Persist 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... (read more) Housing News Price Gains Decelerate But Remain Over 6 Percent Annually 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 M... (read more) Rob Chrisman New Home Sales; Title Company Cuts Fees; Guild's 1% Down Product 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 ec... (read more) MBS Commentary MBS Live Day Ahead: Apex of Bond Supply and Fed Minutes 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 s... (read more) MBS Commentary MBS Live Recap: Bonds Bounce Back After Fed/Auction Combo 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 bod... (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 99.91 +0.07 Price / Yield Change MBS UMBS 5.5 99.92 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.06 +0.09 GNMA 6.0 101.47 +0.06 Pricing as of: 7/3 1:29AM EST 10 Year US Treasury 4.2622 -0.0176 Price / Yield Change US Treasury 2 YR Treasury 3.766 -0.022 5 YR Treasury 3.846 -0.021 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.260 -0.020 30 YR Treasury 4.786 -0.023 Pricing as of: 7/3 1:29AM EST 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

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