Mortgage rates managed to hold steady today, on average (some lenders were slightly better while others were slightly worse) despite a more upbeat economic assessment from The Federal Reserve. The Fed releases a statement on monetary policy 8 times a year. These statements let markets know what the Fed is thinking and how it is planning on approaching policy in the future. They also serve as venues to announce changes in the Fed's policy rate, the "Fed Funds Rate," which has a bearing on almost all other rates (including mortgages). The Fed wasn't expected to hike rates with today's statement, and this wasn't one of the 4 meetings a year where they release updated forecasts. That meant markets were left to glean any actionable info from the verbiage of the statement. Despite some anxiety in

January 31, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 31, 2018 Mortgage Rates Hold Steady Despite Upbeat Fed Wed, Jan 31, 2018 2:56PM Mortgage rates managed to hold steady today, on average (some lenders were slightly better while others were slightly worse) despite a more upbeat economic assessment from The Federal Reserve. The Fed releases a statement on monetary policy 8 times a year. These statements let markets know what the Fed is thinking and how it is planning on approaching policy in the future. They also serve as venues to announce changes in the Fed's policy rate, the "Fed Funds Rate," which has a bearing on almost all other rates (including mortgages). The Fed wasn't expected to hike rates with today's statement,... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 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 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Recap: Fed, SOTU Pass Without a Trace Wed, Jan 31, 2018 4:12PM Stay skeptical about easy answers in financial news!  Here's a tremendous example.   Much has been made of the stock market being on the edge of a massive correction based on rising interest rates.  That's not necessarily a bad idea, but it is faulty logic to assume it will drive every little move.  For instance, after today's woefully i... (read more) MBS Live Commentary: Differences Between Previous and Current FOMC Statements Wed, Jan 31, 2018 2:02PM Information received since the Federal Open Market Committee met in November December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Averaging through hurricane-related fluctuations, job gains Gains in employment, household spending, and business fixed investment have been solid, ... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 3:05AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 3:05AM EST Other News Robots Coming for Your Job? Why Automated Underwriting is Good Wed, Jan 31, 2018 12:47PM Loan applications are increasingly submitted and approved via a cell phone and Fannie Mae, and Freddie Mac constantly refer in press releases to their respective automated systems. Therefore, it is startling to learn that, on the front lines of lending, underwriting remains far from what a jockey friend used to call a "push-button pony." Eric Connors, Execut... (read more) Although Pending Sales Up, NAR Warns of Tax Law Implications Wed, Jan 31, 2018 10:49AM Pending home sales finished off the year in a more upbeat tune. Although the December gain in sales, reported on Wednesday by the National Association of Realtors® (NAR) was a slim one, it made three consecutive monthly gains for the leading indicator. NAR warned however that it expects existing home sales and price growth to moderate , primarily because... (read more) Upcoming Events; DOJ and Eagle Home; Compliance "Fun" With CRM's Wed, Jan 31, 2018 9:11AM “Rob, are you hearing an issue regarding ‘individual CRMs?’ Where LOs are purchasing their own CRMs, which move with them to various companies, and then the compliance personnel at each company can’t effectively monitor the activities of the LO?” I am not a compliance expert – merely playing one on TV – but yes, and ... (read more) Latest Video Fed: Monetary policy remains accommodative Former Wells Fargo CEO: Interest rates have been manipulated by the Fed for... Fed leaves rates unchanged Around the Web CNBC Traders are still expecting two to three rate hikes this year after Fed statement CNBC Consumer protection bureau structure upheld in blow to Trump's deregulation efforts Bloomberg Homebuilders Just Had Their Nastiest Seven-Day Run in Two Years CNBC Fed leaves rates unchanged but gives more aggressive inflation expectations Federal Reserve Federal Open Market Committee reaffirms its "Statement on Longer-Run Goals and Monetary Policy Strategy" Federal Reserve Federal Reserve issues FOMC statement Reuters D.R. Horton's affordable homes unit to get boost from first-time buyers CNBC Fidelity's Jurrien Timmer: The risk to this bull market is an aggressive Fed CNBC How financial markets performed during the Yellen Fed years CNBC Expect to see commodities rise because the dollar will keep falling, analysts say CNBC Consumer protection bureau structure upheld in blow to Trump's deregulation efforts Calculated Risk Blog ADP: Private Employment increased 234,000 in January CNBC Fed expected to leave rates unchanged, may sound hawkish after Yellen's final meeting

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