After moving back up to the highest levels in more than 4 years yesterday, mortgage rates fell slightly today. Pessimists/realists would rightfully point out that today's rates are still pretty close to those 4-year highs, and that one measly day isn't much of a foundation for hope. Optimists could counter that yesterday's high rates merely MATCHED the recent highs from last week and that the past 2 weeks overall have seen the most sideways stability in 2018. Long story short, rates are high relative to anything seen since early 2014, but there also continues to be a chance that they'll try to avoid going much higher in the short term. NOTE : a "chance" means strictly that. We're not talking about probabilities here. The average lender continues quoting conventional 30yr fixed rates of 4.5

February 28, 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 Feb 28, 2018 Mortgage Rates Avoid Setting Another High Wed, Feb 28, 2018 3:55PM After moving back up to the highest levels in more than 4 years yesterday, mortgage rates fell slightly today. Pessimists/realists would rightfully point out that today's rates are still pretty close to those 4-year highs, and that one measly day isn't much of a foundation for hope. Optimists could counter that yesterday's high rates merely MATCHED the recent highs from last week and that the past 2 weeks overall have seen the most sideways stability in 2018. Long story short, rates are high relative to anything seen since early 2014, but there also continues to be a chance that they'll try to... (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 99.65 -0.02   95.05 99.96 UMBS 30YR 5.5 101.07 -0.01   97.47 101.28 10 YR Treasury 4.043 +0.014   3.932 4.780 MBS Live Recap: Moderate Gains Keep Hope Alive For a Rate Ceiling Wed, Feb 28, 2018 4:15PM 2.90% or something close to it continues to look like the center of a range of yields that might like to... think about... maybe... potentially... trying... to act as a ceiling for rates.  After bouncing at 2.92% yesterday, yields continued lower today.  That made today the 12th day since rates first hit 2.90% without moving too much higher. ... (read more) MBS Price Change UMBS 4.5 97.65 -0.04 UMBS 5.0 99.65 -0.02 UMBS 5.5 101.09 +0.00 GNMA 4.5 97.73 +0.03 GNMA 5.0 99.79 -0.04 GNMA 5.5 100.81 -0.08 Pricing as of: 10/15 3:20PM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.021 5 YR Treasury 3.627 +0.023 7 YR Treasury 3.814 +0.015 10 YR Treasury 4.043 +0.014 30 YR Treasury 4.641 +0.011 Pricing as of: 10/15 3:20PM EST Other News Homeownership's Price Tag Rising as Rents Moderate Wed, Feb 28, 2018 1:06PM Taken together, two recent posts in the CoreLogic Insights blog may indicate that, after several years of being a close trade-off or even more affordable than renting, buying a home might be losing any advantage. Shu Chen writes that the growth in rents nationwide seems to be slowing after seven years of steady increases. CoreLogic's Single-Family Rent Index... (read more) Pending Home Sales Plunge to Three-Year Lows Wed, Feb 28, 2018 10:15AM Pending home sales took a deep dive in January, falling to their lowest level in over three years . The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator of existing home sales, fell 4.7 percent to 104.6. The December index, which had represented an 0.5 percent increase from November, was revise... (read more) Exploring a Trio of Risks and Outcomes Wed, Feb 28, 2018 9:28AM A recent Freddie Mac Insights article looks back at earlier incidences of rising rate environments, and how the higher rates affected several populations including borrowers, mortgage lenders, homeowners, real estate agents, and home builders. MND summarized those findings in an earlier article and today we look at the second half of the analysis. Doug McMan... (read more) Ocwen-PHH; Changes to Fees, Pricing, and Lock Policies Wed, Feb 28, 2018 9:09AM As an industry we don’t want headlines about the Department of Housing and Urban Development (HUD) spending $31,000 on a dining set spending $31,000 on a dining set for Ben Carson. But we have them. Especially when over 33,000 Texans are still displaced from their homes as a direct result of Hurricane Harvey, five months after the storm battered the Ho... (read more) Latest Video Santelli Exchange: Important 'twin peaks' in Europe Santelli Exchange: The relationship between rates, equities & high-yield Pending home sales fall to more than 3-year low Around the Web Bloomberg Rates Driven by Household Formation for Next Decade, Says Smead NAR - Realtor.com These States Have the Highest Property Taxes, but a Possible Loophole Offers Hope CNBC Dow slides 200 points, on track to snap longest monthly win streak since 1959 NPR Ben Carson And HUD Face Allegations Of Lavish Spending, Including $31,000 Furniture Calculated Risk Blog Earlier: Chicago PMI Declines in February, Still Solid CNBC US "aggressive debt issuance" may be what bursts the bond bubble, investor warns Reuters U.S. fourth-quarter GDP growth revised down to 2.5 percent Reuters Lowe's profit and margins miss lowest Wall Street estimate, shares tumble Bloomberg Bond Market Dj Vu? Here's What Will Reveal If Rout Has Legs Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices Bloomberg Powell's 'Continuity' Promise Foretells Still Slower Mortgage-Backed Securities Speeds CNN Wells Fargo accused of preying on black and Latino homebuyers in California Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in December

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