Mortgage rates remained in line with 2017's lows today, despite noticeable improvement in underlying bond markets. Under normal circumstances, bond market improvement equates fairly directly with mortgage rate improvement, but things aren't exactly normal lately. On the simplest level, the timing of market movements over the past 2 days tells the story. The prices of mortgage-backed-securities (MBS) are right in line with those seen yesterday morning when most of yesterday's rate sheets came out. Bonds and MBS weakened yesterday, but not enough for most lenders to change rate sheets before the end of the day. In that sense, today's bond market strength allowed for lenders to keep rate sheets unchanged whereas rates would have been slightly higher had bonds been flat on the day. Tomorrow morning

August 10, 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 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Aug 10, 2017 Mortgage Rates Hold 2017 Lows Despite Market Volatility Thu, Aug 10, 2017 3:39PM Mortgage rates remained in line with 2017's lows today, despite noticeable improvement in underlying bond markets. Under normal circumstances, bond market improvement equates fairly directly with mortgage rate improvement, but things aren't exactly normal lately. On the simplest level, the timing of market movements over the past 2 days tells the story. The prices of mortgage-backed-securities (MBS) are right in line with those seen yesterday morning when most of yesterday's rate sheets came out. Bonds and MBS weakened yesterday, but not enough for most lenders to change rate sheets before the... (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 6.20% -0.02 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 99.71 +0.04   95.05 99.96 UMBS 30YR 5.5 101.09 +0.00   97.47 101.28 10 YR Treasury 4.028 -0.001   3.932 4.780 MBS Live Recap: Risk-Off Rally, Just Another Day For Bonds Thu, Aug 10, 2017 4:29PM It's hard to appreciate just how different the trading session was for stocks compared to bonds.  To be sure, a near 5bp drop in 10yr yields is "nice," but it pales in comparison to the amount of movement suggest by or seen in equities markets... (read more) MBS Live Day Ahead: Core Range Intact All Week Thu, Aug 10, 2017 10:02AM In terms of 10yr yields, bond markets have been locked in the same narrow range for a week and half.  Even when the range was only 2 days old last week, it seemed likely that it would come to a head by tomorrow's CPI data.  With the boundar... (read more) MBS Price Change UMBS 4.5 97.73 +0.04 UMBS 5.0 99.71 +0.04 UMBS 5.5 101.09 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.96 +0.13 GNMA 5.5 101.00 +0.10 Pricing as of: 10/15 9:01PM EST US Treasury Yield Change 2 YR Treasury 3.499 -0.001 5 YR Treasury 3.619 -0.001 7 YR Treasury 3.804 -0.001 10 YR Treasury 4.030 +0.001 30 YR Treasury 4.628 +0.002 Pricing as of: 10/15 9:01PM EST Other News MBA Expects Nosedive in July New Home Sales Thu, Aug 10, 2017 11:28AM The Mortgage Bankers Association (MBA) expects there will be a sharp downturn reported in July sales of newly constructed homes. While its Builder Applications Survey (BAS) data for the month shows mortgage applications for new home purchases remained higher than a year earlier, by 5.1 percent, those applications dropped by 12 percent from the numbers report... (read more) Short-Term Rental Income Calculations Changed Thu, Aug 10, 2017 11:12AM Freddie Mac has made some changes to the way in which lenders must handle rental income. The changes are primarily aimed at determining the stability of that income , especially when it is short term and does not involve a lease. The changes apply to loans with settlement dates on or after February 9, 2018, but sellers can, if they wish, implement them in th... (read more) Digital Transactions, Electronic Closing; No Commission Loans Thu, Aug 10, 2017 9:12AM “Rob, I am a new loan officer in an area with lots of high balance loans, and my company caps me out at $7,500 of commissions. But real estate agents don’t have a cap on what they earn, do they?” Hah! Ask the LO in the cubicle nearby for the answer to that one. In fact, many residential lending industry observers believe that, to stay compe... (read more) Latest Video Closing Bell Exchange: North Korea tensions, market risks Oaktree Capital's Howard Marks: Bonds may be first to crack Santelli Exchange: Market safety vs. vulnerability Around the Web Freddie Mac Freddie Mac Announces Pricing of $315 Million Multifamily Small Balance Loan Securitization NMHC New HUD Report Highlights Affordable Housing Challenges CNBC S&P 500's 1% decline Thursday is a rarity for 2017 Market Watch DoubleLine's Gundlach is set to make a killing as stock market's fear gauge' soars Market Watch Fed's Dudley says 2% inflation target will remain elusive even if price pressures pick up Calculated Risk Blog Fannie and Freddie: REO inventory declined in Q2, Down 30% Year-over-year Market Watch Fed's Dudley says modest wage growth reflects sluggish productivity Market Watch Bond Report: Treasury yields fall after reports on jobless claims, wholesale inflation Bloomberg Bullard Says Yellen Successor Should Hold More Press Conferences Reuters U.S. jobless claims rise; labor market still tightening CNBC US producer prices post biggest drop in 11 months Market Watch Invitation Homes-Starwood announce merger in bid to rent single-family homes Freddie Mac Freddie Rental Income Changes

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