Mortgage rates moved back up today, leaving them right in line with the highest levels of the week. These also happen to be the highest levels since early 2011, but let's not get bogged down in unfortunate details! Rates will definitely move lower at some point in the future. That's the way economic cycles work--and they always work eventually. The big questions are twofold: how long will it take for fortunes to change and how high will rates go in the meantime? In terms of timing, we could be looking at anywhere from a few months to more than year before seeing a shift that's big enough to get excited about. That said, there will still be pockets of positivity at times, even in a rising rate environment. Whatever the case may be, the higher rates go, the closer we're getting to the end of

November 8, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.00% -0.22%   6% 7.45% Compare Mortgage Rates from Local Lenders for Nov 8, 2018 Mortgage Rates Edge Back Up to Early 2011 Levels Thu, Nov 8, 2018 4:36PM Mortgage rates moved back up today, leaving them right in line with the highest levels of the week. These also happen to be the highest levels since early 2011, but let's not get bogged down in unfortunate details! Rates will definitely move lower at some point in the future. That's the way economic cycles work--and they always work eventually. The big questions are twofold: how long will it take for fortunes to change and how high will rates go in the meantime? In terms of timing, we could be looking at anywhere from a few months to more than year before seeing a shift that's big enough to ge... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.00% -0.22 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.64 -0.03   95.05 99.96 UMBS 30YR 5.5 101.06 -0.03   97.47 101.28 10 YR Treasury 4.043 +0.014   3.932 4.780 MBS Live Day Ahead: Fed Day, Bounce Day? Thu, Nov 8, 2018 9:11AM I'm going to talk about the potential for a friendly bounce in bonds today.  I want to be clear right up front that I'm presenting this as one of two possibilities, and without any comment on which possibility is more likely.  It's just tha... (read more) MBS Live Commentary: Differences Between Previous and Current FOMC Statements Thu, Nov 8, 2018 2:13PM Information received since the Federal Open Market Committee met in August September indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low declined . Household spending and has continue... (read more) MBS Price Change UMBS 4.5 97.68 -0.01 UMBS 5.0 99.64 -0.03 UMBS 5.5 101.08 -0.01 GNMA 4.5 97.73 +0.03 GNMA 5.0 99.86 +0.03 GNMA 5.5 100.98 +0.08 Pricing as of: 10/15 2:58PM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.021 5 YR Treasury 3.626 +0.021 7 YR Treasury 3.812 +0.014 10 YR Treasury 4.040 +0.012 30 YR Treasury 4.637 +0.007 Pricing as of: 10/15 2:58PM EST Other News Share of "Affordable" Homes Falls to 10-Year Low Thu, Nov 8, 2018 2:43PM Housing affordability crept down again in the third quarter of 2018 reaching, according to the National Association of Home Builders (NAHB), a ten-year low. The NAHB/Wells Fargo Housing Opportunity Index (HOI) indicates that 56.4 percent of new and existing homes that were sold nationwide during the quarter were affordable to families earning the U.S. median... (read more) CoreLogic: Easing Standards for DTI, LTV Underwriting Thu, Nov 8, 2018 11:58AM A deep dig into recent home purchase loans shows that some of the underwriting standards employed by FHA and the GSEs (Fannie Mae and Freddie Mac) eased over the year that ended with Q2 2018. Archana Pradhan, an analyst with CoreLogic's Mortgage Finance and Risk Management Department writes in the company's Insights blog that neither conventional nor FHA len... (read more) Construction and HELOC Products; Non-QM Webinars; Mr. Cooper PUF Acquisition Details Thu, Nov 8, 2018 9:07AM “Rob, we just went through our third staff reduction. Have you heard of any vendors that work on forecasting or doing ‘what if’ scenarios for lenders rather than us doing layoffs?” Sure – for less than a basis point Riivos helps originators make more money by providing visibility into the financial and operational components of ... (read more) Latest Video We're setting the stage for a recession in next 12 to 18 months, says Sri K... Kovacevich: Market will crash if Fed doesn't hike rates in December Housing sentiment hits lowest level in a year Around the Web Bloomberg DR Horton Tumbles Most Since 2015 CNBC Fed unwavering in message that interest rates will keep going higher Reuters Traders keep bets on U.S. Fed's 2019 interest rate rises Reuters Fed holds rates steady, sees economy on track Calculated Risk Blog Leading Index for Commercial Real Estate Declines in October CNBC Interest rates could hit new decade high even if Fed does nothing at its meeting Calculated Risk Blog MBA: Mortgage Delinquency Rate Increased Slightly in Q3 The Basis Point Is Remote Work The Solution To High Home Prices In Hot Cities? 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