Mortgage rates were much higher this morning, bringing them to new 6-month highs (a dubious distinction also accomplished yesterday). Unlike yesterday, there were good and bad moments today. Bond markets (which underlie rate movement) were already starting to show signs of support this morning. Early this afternoon, a scheduled auction of 10yr Treasury Notes was met with strong demand. When demand for a bond rises relative to supply, rates fall. Mortgage rates aren't based directly on 10yr Treasuries, but there is a strong correlation between the two. The 10yr serves as an important benchmark for any longer-term interest rate in the US, so the strong auction suggested rates may attempt to find a ceiling here after a rocky start to the year. The staying power of any such ceiling remains to be

January 10, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 10, 2018 Mortgage Rates Remain at 6-Month Highs Despite Late Day Bounce Wed, Jan 10, 2018 3:35PM Mortgage rates were much higher this morning, bringing them to new 6-month highs (a dubious distinction also accomplished yesterday). Unlike yesterday, there were good and bad moments today. Bond markets (which underlie rate movement) were already starting to show signs of support this morning. Early this afternoon, a scheduled auction of 10yr Treasury Notes was met with strong demand. When demand for a bond rises relative to supply, rates fall. Mortgage rates aren't based directly on 10yr Treasuries, but there is a strong correlation between the two. The 10yr serves as an important benchmark ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.05 -0.02   97.47 101.61 UMBS 30YR 6.0 102.36 -0.02   99.66 102.50 10 YR Treasury 4.088 +0.004   3.621 4.780 MBS Live Day Ahead: It Just Got Real. Let's Not Overcomplicate It Wed, Jan 10, 2018 9:02AM The proverbial "you know what" just got real.  We'd been waiting for the first big dose of bond market momentum following months of consolidation heading into the end of 2017.  We figured it would show up around the 2nd week of January.&nbs... (read more) MBS Live Recap: Big Bad Day For Bonds (Not Because of Japan) Tue, Jan 9, 2018 5:43PM In certain circles, much was made of overnight news that the Bank of Japan would be buying fewer bonds.  That's about as far as most news stories delved into the topic, despite it being more complicated than bond-buying news in the US.  Let's break it down: In the US, the Fed lays out a guaranteed amount of bond buying that will occur each mo... (read more) MBS Price Change UMBS 5.0 99.46 +0.02 UMBS 5.5 101.07 0.00 UMBS 6.0 102.37 0.00 GNMA 5.0 99.74 +0.01 GNMA 5.5 101.02 -0.02 GNMA 6.0 102.02 +0.04 Pricing as of: 9/9 10:35PM EST US Treasury Yield Change 2 YR Treasury 3.550 -0.018 5 YR Treasury 3.608 -0.019 7 YR Treasury 3.808 -0.025 10 YR Treasury 4.081 -0.002 30 YR Treasury 4.720 -0.014 Pricing as of: 9/9 10:35PM EST Other News Mortgage Applications Heat Up After Holiday Lull Wed, Jan 10, 2018 9:21AM Mortgage application activity roared out of the gate in the first week of the New Year, as the country got back down to business. Much of the week's gain could probably be attributed to consumers catching up after the usual holiday induced December slowdown. Applications for both refinancing and home purchasing were up substantially during the week ended Jan... (read more) A Dose of Digital Reality for Builders? Wed, Jan 10, 2018 12:26PM They may be a little late to the game, but John McManus, publisher of BuilderOnLine.com , is betting home builders are about to get a dose of digital reality . McManus, reporting from the Consumer Electronics Show (CES) currently underway in Las Vegas says the digital age has already transformed the purchase of goods and services; the National Retail Federat... (read more) Tax Reform Training; Important Events; Steepening Yield Curve Wed, Jan 10, 2018 9:13AM Sharing a king bed with your 80-year old aunt, or the refrigerator with your twin 25-year olds who can’t afford to move out, probably isn’t high on your list. But looking at builder's building trends shows that they are certainly cognizant of, and reacting to, multi-generational housing needs. Upcoming Events, Training, and Webinars Reverse Mortg... (read more) Latest Video Benefits of tax cuts could be reduced by higher rates 10-Year Treasury note auction yield at 2.579% Santelli Exchange: Treasury trading cycles Around the Web Calculated Risk Blog Kansas City Fed on Housing: "Pent-Up Demand and Continuing Price Increases" NY Times The Fed Delivered $80.2 Billion in Profits to the Treasury in 2017 Bloomberg Bond Traders Question the Bear Market - Bloomberg NAR - Realtor.com Realtors, Licking Their Wounds, Get Ready for Their Next Battle Reuters Pimco could add U.S. Treasuries if market weakens further: Ivascyn CNN 3 ways tax reform will hit home values CNBC Report Chinese could stop Treasury buying seen as political but hits raw nerve CNBC The Fed, worrying about the next recession, considers changes CNBC Home equity hits record high, and here's how homeowners are spending it CNBC Minneapolis Fed proposes massive regulation change for big banks Federal Reserve Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2017 Reuters Tax cuts mean Fed must be vigilant on 'overheating': Kaplan CNBC Wholesale inventories rebound strongly in November

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