Mortgage rates remained relatively unchanged again today. This continues the sideways trend leading into Memorial Day weekend. As the current week progresses, we can expect to see volatility increase thanks to the presence of more significant economic data. In general, bond markets (which underlie mortgage and other rates) react to strength or weakness in economic data. The more important the report and the bigger the margin by which it misses or exceeds expectations, the more movement is implied in bond markets (and thus "rates"). Friday brings the most important economic report of the month: the Employment Situation. This is the big "jobs report" that includes nonfarm payrolls (a measurement of how many jobs the economy is adding or losing) as well as the unemployment rate. In modern economic

May 30, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.00% -0.22%   6% 7.45% Compare Mortgage Rates from Local Lenders for May 30, 2017 Mortgage Rates Sideways Near Long-Term Lows Tue, May 30, 2017 2:50PM Mortgage rates remained relatively unchanged again today. This continues the sideways trend leading into Memorial Day weekend. As the current week progresses, we can expect to see volatility increase thanks to the presence of more significant economic data. In general, bond markets (which underlie mortgage and other rates) react to strength or weakness in economic data. The more important the report and the bigger the margin by which it misses or exceeds expectations, the more movement is implied in bond markets (and thus "rates"). Friday brings the most important economic report of the month:... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.00% -0.22 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.65 -0.02   95.05 99.96 UMBS 30YR 5.5 101.07 -0.01   97.47 101.28 10 YR Treasury 4.043 +0.014   3.932 4.780 MBS Live Recap: Bonds Taking Another Run at 2017's Best Levels? Tue, May 30, 2017 4:46PM Unfortunately, we won't really know until after this week is over, but if today is any indication, bond markets look like they're willing to consider another run at the best levels of 2017 .  10yr yields made it as low as 2.21% today, a mere 4bps higher than the important 2.17% technical level seen in the days following the US presidential election (yi... (read more) MBS Price Change UMBS 4.5 97.65 -0.04 UMBS 5.0 99.65 -0.02 UMBS 5.5 101.09 +0.00 GNMA 4.5 97.73 +0.03 GNMA 5.0 99.79 -0.04 GNMA 5.5 100.81 -0.08 Pricing as of: 10/15 3:20PM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.021 5 YR Treasury 3.627 +0.023 7 YR Treasury 3.814 +0.015 10 YR Treasury 4.043 +0.014 30 YR Treasury 4.641 +0.011 Pricing as of: 10/15 3:20PM EST Other News How Comp Adjustments Might be Distorting Appraisal Values -CoreLogic Tue, May 30, 2017 1:59PM CoreLogic's analysts continue to report on the validity of appraisals. A blog entry from last December found that thirty percent of appraisals the company reviewed were at the contract price while 60 percent were above it. A new article, written by Yanling Mayer, looks at the use of comps, especially how they are adjusted, as a factor in this valuation patte... (read more) Case-Shiller: No Telling When Prices, Rates Will Force Housing Slowdown Tue, May 30, 2017 10:06AM Home prices across the nine U.S. census divisions hit a 33-month high in March . The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 5.8 percent from its level in March 2016, a 0.1 percentage point more than the annual increase it posted in February. On a month-over-month basis the Index gained 0.8 percent on a non-seasonally adjusted basi... (read more) Black Knight: Prices Up 2.3 Percent Year-to-Date Tue, May 30, 2017 10:36AM Black Knight Financial Services (BK), released its Home Price Index (HPI) on Tuesday. It was in general agreement with the S&P CoreLogic Case-Shiller's National Index, released at about the same time, that prices rose 5.8 percent in March compared to a year earlier. Black Knight's index, however, put the month-over month gain at 1.3 percent, well above t... (read more) State-level Lending Law Changes; Servicing Trends and Packages Tue, May 30, 2017 8:52AM Congrats to Indiana’s Ruoff Home Mortgage and president & CEO Mark Music. Why? The lender helped sponsor the winning Indy 500 car this weekend! Capital Markets We're on Tuesday already, but looking back to Friday U.S. Treasuries and agency MBS prices hardly changed versus Thursday's close (only a few 32nds up or down) despite an upward revision to ... (read more) Latest Video Brainard: Slowing inflation could prompt rethink on rates Home prices continue to climb Home affordability is very good right now: Black Knight Financial Around the Web Redfin Redfin Housing Demand Index Ticks Back Up as Prime Selling Season Commences Gallup US Economic Confidence Index Stable at +3 Reuters Brainard sees U.S. rate hikes but eyeing soft inflation Reuters Atlanta Fed raises U.S. second-quarter GDP growth view to 3.8 percent Bloomberg As Fed Readies Rate Rise, Inflation Slips Further From Its Goal - Bloomberg Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in March CNBC US consumer confidence hits 117.9 in May vs expectation of 119.8 Reuters Consumer spending rises; monthly inflation rebounds Calculated Risk Blog Personal Income increased 0.4% in April, Spending increased 0.4% CNBC ECB to discuss closing door to extra stimulus next week: Sources Calculated Risk Blog Black Knight: House Price Index up 1.3% in March, Up 5.8% year-over-year CNBC US Treasurys edge higher as bond investors focus on economic data Market Watch Outside the Box: Fed's Kashkari is wrong about the housing bubble

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