If you don't happen to make it past this first sentence, just know that anyone telling you rates are much higher today is NOT lying to you. Anyone telling you the opposite is wrong, even though they may not understand why they're wrong. Coming to such an understanding is no harder than reading the next few paragraphs. Mortgage rates can be tricky to follow, at first glance. They're not quite like other rates that move frequently throughout the day and that are published in a standardized format in multiple obvious locations. I'm thinking of something like the 10yr Treasury yield for the sake of comparison. In fairly short order, it would be easy to find multiple sources on the web that are telling you the same story on 10yr yields. But when it comes to mortgage rates, you're likely to get several

October 4, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.06%   6.13% 7.26% 15 Yr. Fixed 5.72% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.15% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Oct 4, 2018 Mortgage Rates Are Anything But Lower This Week! Thu, Oct 4, 2018 3:44PM If you don't happen to make it past this first sentence, just know that anyone telling you rates are much higher today is NOT lying to you. Anyone telling you the opposite is wrong, even though they may not understand why they're wrong. Coming to such an understanding is no harder than reading the next few paragraphs. Mortgage rates can be tricky to follow, at first glance. They're not quite like other rates that move frequently throughout the day and that are published in a standardized format in multiple obvious locations. I'm thinking of something like the 10yr Treasury yield for the sake o... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.06 0.00 15 Yr. Fixed 5.72% -0.04 0.00 30 Yr. FHA 5.89% -0.06 0.00 30 Yr. Jumbo 6.15% 0.00 0.00 7/6 SOFR ARM 5.86% +0.01 0.00 30 Yr. VA 5.90% -0.06 0.00 Updates Daily - Last Update: 10/28 Freddie Mac Rate Change Points 30 Yr. Fixed 6.19% -0.08 0.00 15 Yr. Fixed 5.44% -0.08 0.00 Updates Weekly - Last Update: 10/23 Mortgage Bankers Assoc. 30 Yr. Fixed 6.37% -0.05 0.59 15 Yr. Fixed 5.74% -0.03 0.67 30 Yr. Jumbo 6.39% -0.08 0.37 Updates Weekly - Last Update: 10/22 UMBS 30YR 5.0 100.14 +0.10   95.05 100.14 UMBS 30YR 5.5 101.44 +0.10   97.47 101.44 10 YR Treasury 3.977 +0.002   3.932 4.780 MBS Live Day Ahead: Selling Obviously Overdone, And That's a Problem Thu, Oct 4, 2018 9:30AM If you didn't catch it, and want to get caught up with yesterday's big move, this tweet has several links that should bring you thoroughly up to speed:  https://twitter.com/MG_MBS/status/1047627670987526145 Moving on to today, I have a sayin... (read more) MBS Live Recap: It Can Always Go Either Way Thu, Oct 4, 2018 4:48PM If you're looking for today's recap, check out the Huddle.  Or just know that we sold-off a bit more and then settled sideways, fairly close to yesterday's highest rates.  Mortgage lenders dinged rate sheets just a bit more and we're now waiting to see the effects from tomorrow morning's jobs data. If you're looking for what some might call wis... (read more) MBS Price Change UMBS 4.5 98.28 +0.19 UMBS 5.0 100.14 +0.11 UMBS 5.5 101.43 +0.10 GNMA 4.5 98.31 +0.29 GNMA 5.0 100.09 +0.23 GNMA 5.5 101.09 +0.09 Pricing as of: 10/28 5:19PM EST US Treasury Yield Change 2 YR Treasury 3.486 -0.005 5 YR Treasury 3.605 +0.003 7 YR Treasury 3.770 0.000 10 YR Treasury 3.973 -0.002 30 YR Treasury 4.539 -0.006 Pricing as of: 10/28 5:19PM EST Other News Mortgage Credit Tightens, Government Programs Drive Change Thu, Oct 4, 2018 10:54AM The availability of mortgage credit at least as measured by the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) pulled back in September, with the government component of the index falling to the lowest level in four years . The MCAI registered 182.1 at month's end, an 0.8 percent decline. An increase in the index indicates a... (read more) FICO Scores Hit Record High Thu, Oct 4, 2018 10:44AM Lesson learned? Whether they saw their credit decimated by the housing crisis and the Great Recession or merely watched loan standards tightened beyond their ability to qualify, Americans seem to have taken to heart the importance of their credit scores. The result, FICO says, is that consumer credit scores have reached a new high, an average of 704 points. ... (read more) Vendor Changes and Webinars; Rates - Should Have Locked Tuesday Thu, Oct 4, 2018 9:14AM In bad news, mortgage rates went up about .25% yesterday. In good news, more homes are going up for sale. According to realtor.com there was a September jump of 8% year over year, that's the biggest jump since 2013. Between less deductions and higher rates, anxious sellers may have no other choice but to lower prices. “The Labor Department's data on wa... (read more) Latest Video Mortgage rates at highest level in 7 years Expert says rates should be higher and the bond market 'got the Fed wrong' US appears at 'precipice of brand new relationship' with China, says Kevin ... Around the Web CNBC With the rise in interest rates, Friday's jobs report just got a lot more important Calculated Risk Blog Goldman: September Payrolls Preview CNBC Miami Beach cracks down on short-term rentals Calculated Risk Blog September Employment Preview CNBC Good economic news is now bad news for stocks as rising interest rates take hold Bloomberg California's Already-High Demand for Tax-Free Debt May Grow More NAHB Eye on Housing New Homes Built with Private Wells and Individual Septic Systems in 2017 Calculated Risk Blog Reis: Regional Mall Vacancy Rate increased Sharply in Q3 2018 Calculated Risk Blog Reis: Office Vacancy Rate unchanged in Q3 to 16.6% CNBC 10-year yield hits highest in 7 years as investors bet on roaring economy, higher inflation CNBC Factory orders post largest gain in 11 months NAR - Realtor.com Here's How Many Americans Can't Afford to Buy a Median-Priced Home Calculated Risk Blog Reis: Apartment Vacancy Rate increased in Q3 to 4.8%

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