Mortgage rates were only moderately higher today, but the move was enough to officially bring them to the highest levels since the Spring of 2017. In other words, most lenders' rate quotes are fairly similar to recently bad days (like last Wednesday), but in terms of outright costs, you'd have to go back 9 months to see anything worse. There was precious little by way of overt motivations for today's move. Whereas rates have a longstanding history of responding to economic data and other events that speak to the economy/inflation/etc., many of the recent movements have had more to do with arcane considerations among bond traders than the aforementioned history. The timing of today's weakness is unfortunate as rates were just starting to look like they might be reinforcing recent ceilings. To

January 17, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Highest in 9 Months Mortgage rates were only moderately higher today, but the move was enough to officially bring them to the highest levels since the Spring of 2017. In other words, most lenders' rate quotes are fairly similar to recently bad days (like last Wednesday)... (read more) Housing News Reverse Mortgages Draining FHA Resources, Overhaul Needed Several housing authorities recently suggested changes to the form and operation of the Home Equity Conversion Mortgage (HECM) program, more commonly known as reverse mortgages. The program, administered by the FHA, serves homeowners over the age of ... (read more) Rob Chrisman Freddie and Fannie Changes - Single Security Moving Forward; Upcoming Events “It doesn’t matter if you are rich or poor, as long as you have money.” Banks are where the money is, and plenty of them are paying attention to Congress. Eliminate Dodd-Frank? No. Revise? Perhaps. The most significant effort to rev... (read more) Housing News Builder Confidence Down From 18-Year High, Still Strong The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which hit an 18-year high in December, backed off a bit this month . NAHB said the composite index, a measure of builder confidence in the market for new homes, ... (read more) MBS Commentary MBS Live Day Ahead: Bonds Continue Battle For Lesser Evil There's bad news and not-quite-as-bad news.  Longer-term bonds (the stuff we care about) are either in a modest, steady, long-term uptrend (in rate), or they're in a more aggressive, shorter-term uptrend.  Actually, they're currently only... (read more) MBS Commentary MBS Live Recap: No Easy Victories as Bonds Revisit Weaker Levels Last week's bounce at a ceiling of 2.60% (twice, essentially) was enough for some DEFENSIVE hope.  In other words, it introduced the possibility of the recent selling trend running out of steam near these levels.  But as I cautioned at th... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.77% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.77% -0.01 0.00 15 Yr. Fixed 6.03% -0.01 0.00 30 Yr. FHA 6.35% 0.00 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.36% 0.00 0.00 Updates Daily - Last Update: 7/22 15 Yr. Fixed Rate 6.03% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.49 -0.02 Price / Yield Change MBS UMBS 5.5 99.49 -0.01 UMBS 6.0 101.36 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.28 -0.04 Pricing as of: 7/23 8:15AM EST 10 Year US Treasury 4.3649 +0.0189 Price / Yield Change US Treasury 2 YR Treasury 3.845 +0.016 5 YR Treasury 3.899 +0.014 7 YR Treasury 4.113 +0.014 10 YR Treasury 4.361 +0.015 30 YR Treasury 4.929 +0.012 Pricing as of: 7/23 8:15AM EST Latest Video You don't get a sense the economy is roaring from Beige Book: CNBC's Steve ... Fed's Beige Book: Modest to moderate growth in most regions Santelli Exchange: Stocks, bonds and bitcoin Around the Web Calculated Risk Blog Fed's Beige Book: "Modest to moderate"expansion, "on-going labor market tightness" CNBC It looks like Apple is bringing back home nearly all of its $250 billion foreign cash NAR - Realtor.com Houston's Apartment Market Makes a Comeback Bloomberg The Value of New York Real Estate Jumps More Than 9% Bloomberg Arctic Blast Freezes South, Hits Refineries as Power Prices Rise Reuters In replacing Dudley, NY Fed aims to avoid political pitfalls CNBC Utilities, mining boost US industrial production CNBC UBS becomes more bullish on US Fed rate path Bloomberg Beware the $500 Billion Bond Exodus CNBC Big U.S. lenders reap benefits of higher rates, but savers not so much Bloomberg Signs of Debt-Ceiling Risk Are Showing Up in the Treasuries Market Bloomberg Trump's CFPB to Rewrite Rule That Cracked Down on Payday Lenders Reuters Wells Fargo loses bid to end Philadelphia predatory lending lawsuit

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