Last month's resurgence in pending home sales didn't last long . Sales ended a three-month fad in June with a 1.5 percent increase in the Pending Home Sales Index (PHSI), but it dropped back by 0.8 percent in July. The National Association of Realtors®(NAR) says its PHSI registered 109.1 percent from a downwardly revised 110.0 in June. The June index was originally reported at 110.2. The July number was 1.3 percent lower than the PHSI a year earlier and has now fallen year-over-year in three of the last four months. NAR said the West was the only region so show a slight gain. The PHSI was at the mid-range of analysts' predictions. Econoday's poll had a consensus of a 0.4 percent gain, but estimates ranged from -2.0 percent to +0.8 percent. Lawrence Yun, NAR chief economist, continues to

August 31, 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 Aug 31, 2017 Higher Today, But Still 2nd Best Day of 2017 For Rates Wed, Aug 30, 2017 4:32PM Mortgage rates were technically higher today vs yesterday, but unless you've been following day-to-day movements under a microscope, you probably won't mind. Reason being: apart from yesterday, today's rates are still easily the best we've seen since early November 2016. Most of yesterday's rate quotes will be the same, though the upfront costs may be slightly higher today. 3.875% remains the most prevalent top-tier 30yr fixed rate. In general, the bond markets that underlie mortgage rate movement have been doing a good job of maintaining their composure at the best levels of the year. Given t... (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 -0.03   95.05 99.96 UMBS 30YR 5.5 101.06 -0.02   97.47 101.28 10 YR Treasury 4.040 +0.012   3.932 4.780 MBS Live Day Ahead: Month-End Trading, Inflation Data, and 3 Options For Bonds Thu, Aug 31, 2017 8:34AM This week has admittedly been the same sort of summertime trading week that we've seen for most of July and August--perhaps even more so .  By that I mean that volumes and liquidity are low, thus allowing some market movers to have bigger effec... (read more) MBS Live Recap: Bond Traders Break Out The Bumpers Wed, Aug 30, 2017 5:50PM Bond markets had a reasonably good day, all things considered.  The caveat is that we shouldn't read much of anything into today's trading because it was exceptionally light and downright mechanical at times.   By that I mean that it l... (read more) MBS Price Change UMBS 4.5 97.68 -0.01 UMBS 5.0 99.65 -0.02 UMBS 5.5 101.07 -0.02 GNMA 4.5 97.73 +0.03 GNMA 5.0 99.84 +0.01 GNMA 5.5 100.86 -0.04 Pricing as of: 10/15 3:09PM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.021 5 YR Treasury 3.627 +0.023 7 YR Treasury 3.814 +0.016 10 YR Treasury 4.044 +0.015 30 YR Treasury 4.641 +0.011 Pricing as of: 10/15 3:09PM EST Other News Pending Sales Slide on "Staggering" Lack of Inventory Thu, Aug 31, 2017 10:21AM Last month's resurgence in pending home sales didn't last long . Sales ended a three-month fad in June with a 1.5 percent increase in the Pending Home Sales Index (PHSI), but it dropped back by 0.8 percent in July. The National Association of Realtors®(NAR) says its PHSI registered 109.1 percent from a downwardly revised 110.0 in June. The June index was... (read more) The ARM Will Rise Again... Probably Wed, Aug 30, 2017 2:29PM To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when fixed-rates rise and falling when those rates decline. In the first quarter of this year they accounted for 8 p... (read more) Disaster Updates, Impact on Secondary Markets; Lender and Bank M&A Thu, Aug 31, 2017 9:07AM Calling out attorneys with the U.S. Consumer Financial Protection Bureau for its "blatant disregard" for judicial instructions, the CFPB was dealt a legal setback recently that has caught the attention of lenders. What - the CFPB needs facts ? While there continues to chatter about its Director heading off to run for Governor of Ohio, the bureau filed a prop... 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