The refinance pool, homeowners who could benefit from exchanging their old first mortgage lien for a new one, is shrinking fast . Black Knight says, in its March Mortgage Monitor , that the pool declined by 40 percent from the beginning of the year through February 15. This happened as the average rate for a 30-year fixed-rate mortgage (FRM), per Freddie Mac, increased by 43 basis points to 4.38 percent. Since then rates have risen more slowly; they closed out last week at 4.43 percent. These increases put the average rate back to levels last reached in the spring of 2014. These increase means that approximately 1.4 million borrowers lost the interest rate incentive to refinance in just the first six weeks of 2018. This leaves 2.65 million candidates who could benefit and are likely to qualify

March 5, 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 Mar 5, 2018 Mortgage Rates Start Strong, But End The Day Higher Mon, Mar 5, 2018 4:26PM Mortgage rates ended higher today, after financial markets reacted to developments in last week's tariff-related news. Last Thursday, stock prices and interest rates fell in response to the tariff announcement because investors figured it ran the risk of doing more economic harm than good. In general, economic weakness/risks/fear tends to push rates lower. Today, congressional leaders made statements that effectively opposed the tariffs as written. In fact, one Republican source said not to rule out "potential action" in the near future if Trump continues with the Tariff plan. Much like the in... (read more) Mortgage Rates Snap Higher Fri, Mar 2, 2018 7:07PM Mortgage rates snapped back toward recent highs today. Part of this has to do with how well rates have done over the past 3 weeks. Granted, rates haven't moved significantly lower over that time, but they've at least avoided moving significantly higher--something that couldn't be said for every other week in 2018. There are several big and intractable reasons for the general rise in rates, and none of them have changed. As such, investors in the bond market (which underlies rate movement) are understandably hesitant to make trades that push rates very much lower. They were already on the edge ... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Week Ahead: Ultra Cautious Bond Rally Enters 4th Week. Can it Last? Mon, Mar 5, 2018 9:22AM The good news is that bond markets improved--albeit microscopically--during each of the past 3 weeks.  That's significant because before that 3-week period, there hadn't even been a single week of improvement in 2018.  The last time we sa... (read more) MBS Live Recap: Sub 2.80% 10yr Yields Prove to be Hot Lava For Bond Traders Fri, Mar 2, 2018 7:43PM If only it were October!  The costume contest at the annual bond trader Halloween bash would be easy to win with that "2.79%" costume in the back of my closet.   OK, so I don't really have a 2.79% costume, but I can tell you ... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Black Knight Sees Future Holding Fewer Refinances, More ARMs Mon, Mar 5, 2018 11:16AM The refinance pool, homeowners who could benefit from exchanging their old first mortgage lien for a new one, is shrinking fast . Black Knight says, in its March Mortgage Monitor , that the pool declined by 40 percent from the beginning of the year through February 15. This happened as the average rate for a 30-year fixed-rate mortgage (FRM), per Freddie Mac... (read more) New Lender Products; Upcoming Training; LIBOR Update Mon, Mar 5, 2018 9:13AM The Senate is set to vote this week on a bill by Sen. Mike Crapo, R-Idaho, that would revise several sections of the Dodd-Frank Act . Among the bill's provisions, it would raise the asset threshold for systemically important institutions from $50 billion to $250 billion, excluding many small- to mid-size banks. And while we’re talking about money, mort... 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