It should come as no surprise that the rise in interest rates that occurred after the November 2016 election had a profound impact on mortgage originations, especially those for refinancing. Black Knight Financial Services, in its current Mortgage Monitor report, said first lien mortgages were originated during the first quarter of 2017 at the lowest rate since the fourth quarter of 2014 . Overall, $372 billion such loans were originated, a 9.0 percent decline from the corresponding quarter in 2016 and down 34 percent from the fourth quarter of that year. Refinancing plummeted 45 percent from the previous quarter and was off by 20 percent on an annual basis. Purchase originations, while up 3.0 percent year-over-year, fell 21 percent quarter-over-quarter. Black Knight noted that while purchase

June 5, 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 Jun 5, 2017 Rates Fall to 2017 Lows After Jobs Report Fri, Jun 2, 2017 5:49PM Mortgage rates moved convincingly lower today following weaker-than-expected employment data from the Labor Department. The big "jobs report" showed only 138k new nonfarm payrolls (the report's headline job creation metric) in May, and a negatively revised 174k in April (down from 211k). March was revised lower as well, painting a suddenly gloomier picture relative to the strong, stable job growth reported since roughly 2011. It's not that the current numbers are worse than they were during some of the rough patches over the last 6 years, just that we're not seeing as much resilience. Payroll ... (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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Week Ahead: Bonds Set to Battle a Familiar Enemy Mon, Jun 5, 2017 9:10AM There are two white lines in today's chart.  Each represents the pace of the two most recent rallies in rates (with the latter being the current rally) by connecting the trend of "lower highs."  The yellow lines denote "the gap" from 2.15-2... (read more) MBS Live Recap: Rates Revisit The Gap After NFP Fri, Jun 2, 2017 6:40PM "The gap" refers to the closing yields in 10yr Treasuries of 2.15% on 11/10/2016 followed by opening yields of 2.17% the following business day.  Granted, that was over a 3-day weekend, but such gaps are nonetheless rare events.  Rates revisited the gap and bounced in mid-April.  They've been drifting back within striking distance since then... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Its (Almost) All About Interest Rates Mon, Jun 5, 2017 11:07AM It should come as no surprise that the rise in interest rates that occurred after the November 2016 election had a profound impact on mortgage originations, especially those for refinancing. Black Knight Financial Services, in its current Mortgage Monitor report, said first lien mortgages were originated during the first quarter of 2017 at the lowest rate si... (read more) Many Dodd-Frank Provisions May Be on House Chopping Block Next Week Fri, Jun 2, 2017 2:22PM House Majority Leader Kevin McCarthy (R-CA) has told reporters he expects a full House vote next week on H.R. 10, The Financial Choice Act which was voted out of the Financial Services Committee (FSC) on May 4. The Act, sponsored by FSC Chairman Jeb Hensarling (R-TX) would repeal or modify many of the changes made by the Dodd-Frank Wall Street Reform and Con... (read more) RESCAP Legal News; June Fed Rate Hike Odds Mon, Jun 5, 2017 9:02AM The Federal Financial Institutions Examination Council (FFIEC) published a Press Release announcing an update to the Cybersecurity Assessment Tool . Capital Markets Despite the arguably weak payroll number, the Fed Funds futures market (a way of gauging what all the smart folks think the probability is) increased their probability of a June hike to 93%. The ... 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