Mortgage rates must really like being where they are right now, because they've been at roughly the same levels for the past 5 days! Not only is this highly out of character for 2018, it's not even that common in general (might happen a few times a year, historically). And while the stability was relatively easy to reconcile during the first 4 days of the week, it comes as a surprise today. Reason being: the important jobs report was much stronger than expected and bond markets (which underlie rates) reacted in a clearly negative way. In other words, bonds suggested that rates should move noticeably higher today. There are two ways to make sense of this. On one hand, yesterday's bond market movements suggested improvement in rates that never materialized. In that sense, we were "owed," for

March 9, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Paradoxically Steady After Jobs Report Mortgage rates must really like being where they are right now, because they've been at roughly the same levels for the past 5 days! Not only is this highly out of character for 2018, it's not even that common in general (might happen a few times a y... (read more) Housing News Not all Recoveries are Created Equal CoreLogic has been watching for signs of overvalued markets for some time. The company and its lead analysts Frank Nothaft, Molly Boesel, and Sam Khater have produced a special report "Evaluating the Housing Market Since the Great Recession," which p... (read more) Rob Chrisman FHA and VA Updates; U.S. Economy Continues to Strengthen Let’s end the week with a non-mortgage related note about nature. You Tube has a live webcam a live webcam in the San Francisco Presidio of a Red-Tailed Hawk nest. Not much happens when its dark, but recently an egg was laid! Hawks couldn&rsquo... (read more) MBS Commentary MBS Live Day Ahead: Look At This Chart Before Assuming You Know What Matters Beliefs, expectations, and assertions can be tricky business if they're not backed up by hard data.  No other economic report brings as many armchair economists off the bench to make predictions as nonfarm payrolls.  Recently (in the past 2... (read more) Mortgage Rate Watch 3rd Straight Day of Steady Rates. 4th Unlikely Mortgage rates were generally unchanged for the 3rd day in a row today despite a fair amount of movement in underlying bond markets. Rates reacted to European Central Bank (ECB) President Mario Draghi who gave no indications that the ECB would make a... (read more) MBS Commentary MBS Live Recap: Draghi Helps Bonds Hold Range Ahead of Jobs Report The ECB released a policy announcement this morning.  They weren't expected to make any significant changes and indeed they made none.  Well, to be fair, they did remove a line about increasing bond purchases if the outlook worsened and t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.35 -0.16 Price / Yield Change MBS UMBS 5.5 99.37 -0.14 UMBS 6.0 101.29 -0.11 GNMA 5.5 99.63 -0.15 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 1:14PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.872 +0.042 5 YR Treasury 3.928 +0.043 7 YR Treasury 4.142 +0.043 10 YR Treasury 4.387 +0.041 30 YR Treasury 4.955 +0.039 Pricing as of: 7/23 1:14PM EST Latest Video Treasury Sec. Mnuchin: Economy is not really at full employment yet Treasury Sec. Mnuchin: There may be more countries exempted from the tariff... Wholesale trade down 1.1% in January Around the Web Calculated Risk Blog Public and Private Sector Payroll Jobs During Presidential Terms Reuters U.S. eases way to more tariff exemptions under pressure from allies Freddie Mac Freddie Mac Prices $1.8 Billion Securitization of Re-Performing Loans CNBC Senate banking bill could make mortgages easier to get from your local bank Bloomberg Evans Says Fed Has Scope for Patience Before Tightening Again Calculated Risk Blog Comments on February Employment Report Brookings Institution Three things to watch ahead of the summit between Trump and Kim Jong-un NY Times The Economy Is Looking Awfully Strong Calculated Risk Blog February Employment Report: 313,000 Jobs Added, 4.1% Unemployment Rate CNBC Fed's Charles Evans goes out on a limb saying he would argue against a March rate hike Reuters U.S. allies line up for exemptions from Trump's tariffs CNBC Should the SEC investigate the wild moves in February? CNBC House Speaker Ryan opposes Trump's tariffs, warns of 'unintended consequences'

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