Mortgage rates were roughly unchanged today. Some lenders even offered improved rates in the afternoon as underlying bond markets managed to hold modest gains. All this despite another winning day for stocks (5th in a row now). Much has been made of the interaction between stocks and bonds since last week's stock market flash crash. Unfortunately many of the correlations mentioned in the news are fairly black and white. For instance, many people believe that stock prices and bond yields move higher together because a growing economy not only implies stronger stock performance, but it can also support higher rates. In practice, however, this correlation is hit and miss . It seemed to be hitting in the wake of last week's crash and then again yesterday afternoon. Then today, bond markets (which

February 15, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Feb 15, 2018 Rates Hold Steady Despite Stock Gains Thu, Feb 15, 2018 3:41PM Mortgage rates were roughly unchanged today. Some lenders even offered improved rates in the afternoon as underlying bond markets managed to hold modest gains. All this despite another winning day for stocks (5th in a row now). Much has been made of the interaction between stocks and bonds since last week's stock market flash crash. Unfortunately many of the correlations mentioned in the news are fairly black and white. For instance, many people believe that stock prices and bond yields move higher together because a growing economy not only implies stronger stock performance, but it can also ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Recap: Deceptively Bad Day For Bonds Thu, Feb 15, 2018 4:14PM At face value, today was great!  Bonds overlooked all of the morning's economic data (no surprise) and made modest gains that were subsequently held throughout the session.  There was very little volatility.  The ground-holding came despite gains in stocks.  And multiple lenders repriced positively. Indeed, all of the above is "good!"... (read more) MBS Live Day Ahead: How Bad Could it Get (And Why It Won't Get That Bad) Thu, Feb 15, 2018 10:10AM I've mentioned the comparisons between 2013 and the current selling trend several times recently.  Most of those have been in response to journalists and analysts claiming some weird connection to high bond yields and stock market weakness. ... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Fannie/Freddie Need Your Money Again, But Not Like They Used To Thu, Feb 15, 2018 2:04PM While the prospect of Fannie Mae and Freddie Mac needing taxpayer money conjures up images of a failing mortgage market requiring a government bailout, that's very far from the case this time around. In fact, taxpayers continue to come out way ahead with respect to the GSEs' conservatorship agreement, even after the draws that will be needed to cover 4th qua... (read more) Homebuilders More Optimistic Over the Next Six Months Thu, Feb 15, 2018 10:37AM New home builders are looking ahead, and the National Association of Home Builders (NAHB) says this optimism was reflected in its Housing Market Index (HMI) for February. While the total HMI, which is also sponsored by Wells Fargo, was unchanged from January at 72, its most forward-looking component hit a post-recession high. The HMI is derived from a monthl... (read more) New HUD Budget Could Defund Rental Assistance, Other Programs Thu, Feb 15, 2018 10:33AM Although it has been declared by many in Congress as "dead on arrival" the Trump Administration's proposed 2019 budget appears more predicated on another cliché - "If at first you don't succeed..." The budget again goes after many of the cuts in Housing and Urban Development (HUD) programs it attempted in the FY2018 version. The budget calls for an ov... (read more) Latest Video We could see sharp moves higher in rates: Strategist Homebuilder sentiment unchanged in February PPI up 0.4%, a little 'hot' on core Around the Web Freddie Mac Freddie Mac Reports Full Year and Fourth Quarter 2017 Financial Results consumerfinancemonitor.com House Passes Bill to Amend TRID Rule Disclosures Calculated Risk Blog Fannie and Freddie: REO inventory declined in Q4, Down 30% Year-over-year Reuters U.S. market gurus who predicted selloff say current calm an illusion consumerfinancemonitor.com CFPB FY 2018-2022 strategic plan reflects Mulvaney's new approach Bloomberg Japan Investors Waiting for Powell Before Return to Treasuries CNBC The rate rise doesn't matter to the markets. Here's what does Bloomberg For Yield Hunters, Here's a Place Still Offering Rich Dividends Brookings Institution Hutchins Roundup: Employer concentration and wage stagnation, collateral damage, and more Freddie Mac Mortgage Rates Continue to Climb Redfin Strong January Home Price Growth and Declining Inventory Signal Another Competitive Spring for Homebuyers CNBC US 10-year yield rises to fresh 4-year high of 2.94% Reuters U.S. weekly jobless claims rebound from near 45-year lows

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