Daily Newsletter: Tuesday December 4, 2018

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December 4, 2018

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Compare Mortgage Rates from Local Lenders for Dec 4, 2018

Mortgage Rates Now at 2-Month Lows

Mon, Dec 3, 2018 4:16PM

Mortgage rates didn't really improve today for the average lender, but they did manage to hit the lowest rates in 2 months on a technicality. The reason for this is simple. There was a big gap between the rates seen on October 2nd and October 3rd. Rates merely had to hold steady today in order to earn the "2-month" title. Despite the absence of mortgage rate movement, there were s ome encouraging developments behind the scenes. When it comes to rates, 'behind the scenes' refers to trading in the bond market, and bonds managed to scratch out a solid day after starting out on weaker footing. Typ... (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	6.20%	-0.02	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

MBS Live Day Ahead: How Low Can We Go?

Tue, Dec 4, 2018 9:13AM

The day begins with the December rally gathering steam, or at least maintaining the surprisingly strong levels achieved yesterday afternoon. Yields continue pushing back into the high 2% territory that they blew through on the way up back in Se... (read more)

MBS Live Recap: Strong Showing For Bonds

Mon, Dec 3, 2018 5:21PM

I don't think candlestick patterns can predict the future, but a few of them offer quick and easy ways to convey a certain theme in the market. One of the clearest patterns is the "engulfing pattern." This happens when today's candl... (read more)

MBS	Price	Change
UMBS 4.5	97.75	-0.01
UMBS 5.0	99.74	+0.01
UMBS 5.5	101.11	+0.02
GNMA 4.5	97.76	+0.02
GNMA 5.0	99.98	+0.04
GNMA 5.5	101.01	+0.08
Pricing as of: 10/16 4:32AM EST

US Treasury	Yield	Change
2 YR Treasury	3.492	-0.008
5 YR Treasury	3.612	-0.008
7 YR Treasury	3.797	-0.007
10 YR Treasury	4.023	-0.006
30 YR Treasury	4.616	-0.011
Pricing as of: 10/16 4:32AM EST

Other News

Buyers Persist in Search for THE Dream Home

Tue, Dec 4, 2018 12:04PM

It is often billed as the most important and consequential financial decision a household can makes, so it probably follows that buying a home should not be a quick one. Findings from the National Association of Home Builders' (NAHB's) Housing Trends Survey Report indicate that prospective home buyers take the decision seriously. They are also apparently wil... (read more)

Homeownership is a Top Priority for Millennials

Tue, Dec 4, 2018 8:13AM

While their behavior thus far doesn't do much to validate it, a survey by Bank of America (BoA) finds that Millennials put a high priority on homeownership . In fact, among members of that generation responding to the company's 2018 Homebuyer Insights Report, 72 percent put owning a home near the top of their list, surpassed only by "being able to retire." O... (read more)

LO Products; December Events and Training; Servicing Sale With CRA Loans

Tue, Dec 4, 2018 9:07AM

Thinking about locking a loan tomorrow during the National Day of Mourning for George Bush? With the bond markets closed, plenty of mandatory execution desks, like Wells Fargo’s, will be closed. Check with the specific investor regarding best effort, bulk, AOT, and other commitment options tomorrow. Even though the market will be closed, Federal Reserv... (read more)

Latest Video

Yield curve a good recession indicator: Steve Liesman explains

Flattening yield curve weighs on markets

Here's what a flattening yield curve means for the US economy

Around the Web

Reuters

As markets turn, Fed says it is not fazed

Federal Reserve

Agencies seek public comment on proposal to raise appraisal exemption threshold for residential real estate transactions

Bloomberg

Homebuilders Slide as Toll Brothers Adds Fuel to Slowdown Fears

CNBC

The 'yield curve' explained and whether it really is a barometer for the economy and markets

Redfin

What You Need to Buy a House in 2019

CNBC

Toll Bros outlook shows luxury sector hit hardest in housing's new chill

CNBC

Millennials spend less than previous generations because they literally have less money, Fed says

Reuters

Dollar drops as U.S. Treasury yield curve inversion sparks recession fears

CNBC

Fed's Williams expects further US rate increases into next year

Reuters

Toll Brothers orders slump for first time in more than four years

Reuters

Futures drop on U.S-China trade deal doubt, bond market nerves

Bloomberg

Fed's Powell Says Strong Economy Hasn't Reached All Americans

CNBC

Treasury yields continue slide with traders wary of upcoming Fed meeting

Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.

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