Mortgage rates continued lower today, matching the best levels in just over a month. Prospective borrowers are increasingly seeing conventional 30yr fixed quotes in the high 3% range on top tier scenarios, though 4.00% is still more prevalent overall. Consumer rates are dictated by movement in underlying bond markets. The first day of any given month can occasionally see bigger moves in bond markets as some of the biggest investors are able to make changes in their holdings that they weren't able to make until the previous month ended. It's as if July's "final answers" were locked in and now August marks the start of the next round of questions. On a simpler note, GM posted a sharp decline in auto sales this morning. This builds a case for economic weakness, leading more traders to seek safer

August 1, 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 Aug 1, 2017 Mortgage Rates Trickle to 1-Month Lows Tue, Aug 1, 2017 3:27PM Mortgage rates continued lower today, matching the best levels in just over a month. Prospective borrowers are increasingly seeing conventional 30yr fixed quotes in the high 3% range on top tier scenarios, though 4.00% is still more prevalent overall. Consumer rates are dictated by movement in underlying bond markets. The first day of any given month can occasionally see bigger moves in bond markets as some of the biggest investors are able to make changes in their holdings that they weren't able to make until the previous month ended. It's as if July's "final answers" were locked in and now A... (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: Bonds Still Undecided on Impending Breakout to Open August Tue, Aug 1, 2017 9:53AM "Impending breakout" sounds a bit more dramatic than reality may prove to be, but one never can be sure what the future will hold for bond markets.  What we CAN be sure of is that bonds have been locked well inside last Tuesday's range for 5 s... (read more) MBS Live Recap: Widespread Reprices as Bonds Surge Into August Tue, Aug 1, 2017 4:28PM Was it "new month" trading?  Or was it a reaction to abysmal sales data from GM?  Does it matter if the net effect was a nice move lower for rates? Yes and no... This morning's market movement was tricky business because the GM news happened right at the 9:30am NYSE open .  Being the first day of a new month, we may well expect some tra... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.47 -0.07 GNMA 5.0 100.01 -0.06 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:38AM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.016 5 YR Treasury 3.581 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.065 +0.026 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 6:38AM EST Other News Inventories Pushing Home Prices Too High in 4 Metro Areas -CoreLogic Tue, Aug 1, 2017 10:44AM Home prices chalked up another healthy gain in June . CoreLogic reports that its Home Price Index (HPI) marked a 6.7 percent increase compared to the June 2016. This was up from the 6.6 percent May-to-May change, but was still the second smallest annual growth so far in 2017. On a month to month basis the HPI appreciated 1.1 percent, a slight dip from the 1.... (read more) Multifamily Sector Drags Down Construction Spending Tue, Aug 1, 2017 12:11PM Construction spending, both public and private, dropped 1.3 percent in June . Spending was at a seasonally adjusted annual rate of $1.21 trillion compared to the May estimate of $1.22 trillion, an upward revision of 0.3 percent from the original number. June's spending remained 1.6 percent higher than a year earlier. The report from the U.S. Census Bureau ca... (read more) Subservicer Review; Changes to Conventional, Conforming Tue, Aug 1, 2017 9:16AM August already? Time flies, and we live in an age where we must prove to machines that we are not machines. What about watching artificial intelligence devices (robots create their own language that humans can't understand? Scary stuff. Fannie and Freddie, LP, DU, Conventional Conforming Updates Stock owners in Freddie and Fannie are a dogged group and they ... (read more) Latest Video Dollar hovers near 14-month low Alan Greenspan: The bubble is in bonds, not stocks Cashin: Alan Greenspan's massive bond bubble comment intriguing Around the Web Reuters Goldman CFO: market for bond trading has not improved since second quarter Bloomberg Freddie Mac Says It Will Pay $2 Billion to Taxpayers -- Maybe NAHB Eye on Housing Mortgage Rates on New Home Purchases Tick Up CNBC Alan Greenspan: The bubble is in bonds, not stocks Calculated Risk Blog ISM Manufacturing index decreased to 56.3 in July CoreLogic CoreLogic US Home Price Report Shows Prices Up 6.7 Percent in June 2017 CNBC The benefits of a home-equity line of credit Redfin Redfin Housing Demand Index Slipped in June from May's All-Time High CNBC US consumer spending and income growth both weak in June Freddie Mac Freddie Mac Reports Second Quarter 2017 Financial Results Fannie Mae Fannie Mae Releases June 2017 Monthly Summary | Fannie ... CNBC GOP Sen Hatch says cutting corporate rate to 25% is a challenge in tax reform Market Watch The Fed: Demand for business loans weakened in second quarter, Fed finds

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