Mortgage rates moved lower today, even though underlying bond markets (which ultimately drive rates) suggested a move higher. This happens from time to time and it's usually a factor of timing. Today is no different. Bond markets were improving throughout the day yesterday, but started out at much weaker levels. Bond market weakness is associated with higher rates. As such, yesterday's rates were the highest we'd seen in roughly 2 months. As bonds improved throughout the day, many lenders abstained when it arguably became time to release friendlier rate sheets. When that happens, lenders become more likely to pass along the market gains the following morning--assuming the market gains make it through the night. That was the case today, and it allowed lenders to put rates back in line with the

September 29, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Sep 29, 2017 Mortgage Rates Back Down From 2-Month Highs Fri, Sep 29, 2017 2:37PM Mortgage rates moved lower today, even though underlying bond markets (which ultimately drive rates) suggested a move higher. This happens from time to time and it's usually a factor of timing. Today is no different. Bond markets were improving throughout the day yesterday, but started out at much weaker levels. Bond market weakness is associated with higher rates. As such, yesterday's rates were the highest we'd seen in roughly 2 months. As bonds improved throughout the day, many lenders abstained when it arguably became time to release friendlier rate sheets. When that happens, lenders becom... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.30 +0.00   97.47 101.61 UMBS 30YR 6.0 102.46 +0.01   99.66 102.50 10 YR Treasury 4.035 -0.005   3.621 4.780 MBS Live Recap: Strong Start, Weak Finish on Fed Musical Chairs and Month End Fri, Sep 29, 2017 3:49PM The music is currently playing for the role of Fed Chair next year.  When the music stops, Yellen may or may not still have a seat.  News came out this morning that Trump was meeting with former Fed governor Kevin Warsh about filling the role.  Warsh is also the son-in-law of one of Trump's long-time friends, and is considered to be a "hawk"... (read more) MBS Live Day Ahead: Inflation Data and Bigger Picture Considerations Fri, Sep 29, 2017 8:31AM This morning brings one of the more important inflation metrics for the US economy via the "Incomes and Outlays" report.  As the name suggests, the report measures incomes (referred to as "personal income" in the data) as well as "outlays." ... (read more) MBS Live Recap: Bonds Struggle to Break Even After Morning Rout Thu, Sep 28, 2017 4:39PM Treasuries hit their highest yields since the beginning of July today, although they'd already begun to calm down by the start of the domestic session.  Still, multi-month highs at any point in the day are not the sort of things that allow us to make a compelling case for a supportive bounce.  True, bonds did make it back to unchanged levels by t... (read more) MBS Price Change UMBS 5.0 99.93 +0.01 UMBS 5.5 101.30 +0.00 UMBS 6.0 102.46 +0.01 GNMA 5.0 100.22 -0.02 GNMA 5.5 101.26 +0.03 GNMA 6.0 102.02 +0.04 Pricing as of: 9/16 2:24AM EST US Treasury Yield Change 2 YR Treasury 3.534 -0.003 5 YR Treasury 3.602 +0.002 7 YR Treasury 3.782 -0.010 10 YR Treasury 4.034 -0.007 30 YR Treasury 4.653 -0.008 Pricing as of: 9/16 2:24AM EST Other News Mortgage Fraud Characterized by Delayed Discovery Fri, Sep 29, 2017 12:23PM Mortgage fraud may be both more prevalent than lenders know and more insidious than they realize according to Bridget Berg, a principal in Industry Solutions and Property Intelligence for CoreLogic. In the first of a three-part series in the company's Insights blog, she says mortgage fraud is different from other types in that it takes a long time to present... (read more) Disaster Updates; RBS Lawsuit Setback; Lender Products Fri, Sep 29, 2017 9:23AM Yesterday was the release of the HMDA information by the CFPB. Yes, there is a dashboard to slice and dice the data; more information below. And yes, HMDA data collection changes enforced by the CFPB are moving forward. Disaster updates Chase correspondent published its Irma news . Flagstar has announced the availability of FHA's 203(h) mortgages for borrowe... (read more) Latest Video We don't have faith in meaningful tax cuts: Wells Fargo's Scott Wren Trump met with Kevin Warsh amid quest to fill Fed chair job Chicago PMI beats expectations to come in at 65.2 in September Around the Web NAR - Realtor.com If You Find Your Own Buyer, Will Your Real Estate Agent Take Less Commission? consumerfinancemonitor.com CFPB updates HMDA rule guidance materials CNBC Gary Cohn: 'People don't buy homes because of the mortgage deduction'or do they? CNBC Kevin Warsh is far from a lock to replace Janet Yellen as Fed chair CNBC Fed's Harker says he still expects to raise rates in December Calculated Risk Blog Q3 GDP Forecasts: Close to 2% consumerfinancemonitor.com CFPB enters into RESPA settlement with title agent Freddie Mac Freddie Mac September Insight: Is Geography Destiny? CNBC Bond yields jump on report former Fed official Kevin Warsh met with President Trump Calculated Risk Blog Reis: Office Vacancy Rate "flat" in Q3 at 16.1% CNBC Consumer sentiment hits 95.1 in September vs. 95.3 estimate CNBC Trump met with Kevin Warsh to discuss Fed chair job: WSJ citing White House official Reuters U.S. consumer spending barely rises; core inflation retreats

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