Mortgage rates were slightly higher for most lenders today even though underlying bond markets suggested the opposite. This is partly a timing issue. Yesterday saw bond markets weaken throughout the day. Weaker bonds imply higher rates. After a certain amount of weakness, mortgage lenders will adjust rates and re-issue new rate sheets (aka a "negative reprice"). Many lenders did this yesterday, but not all of them. Even among the group that repriced, most of them did so earlier in the afternoon and bonds continued to weaken through the end of the day. The net effect of all of the above is that most lenders had some catching up to do with bond market weakness that they hadn't fully accounted for yesterday. Those that didn't merely kept rates roughly unchanged. Intraday volatility was, once again

April 13, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Rise Despite Market Improvement Mortgage rates were slightly higher for most lenders today even though underlying bond markets suggested the opposite. This is partly a timing issue. Yesterday saw bond markets weaken throughout the day. Weaker bonds imply higher rates. After a certa... (read more) Housing News OIG says FHFA Practices Need Improvement, Lots of It. If they had a report card, the Federal Housing Finance Agency (FHFA) would have been afraid to take it home to mom and dad. Laura S. Wertheimer, FHFA's Inspector General, reported to the House Committee on Financial Services on Thursday about the ove... (read more) Rob Chrisman Tech Products, eNote News; MB Financial Bails and Sails “Rob, are you hearing of companies where branches are being picked off due to new budgetary constraints, and where new recruiting has become problematic for primarily the same reason?” Yup. Companies continue to look at management or regi... (read more) MBS Commentary MBS Live Day Ahead: Feeling Out The End Of 2018's First Correction I started using some more serious words to talk about bond market weakness yesterday, but I'll make them simple and keep the assessment short this morning.  In a nutshell, we've gone from tracking a linear, well-behaved, modestly-positive correc... (read more) Mortgage Rate Watch Mortgage Rates Bounce Back A day after hitting the lowest levels in more than 2 months, mortgage rates bounced back up today. The good news is that they didn't land too far from yesterday's levels in the grand scheme of things, and are still technically closer to the bottom of... (read more) MBS Commentary MBS Live Recap: Several Reasons Bonds Tanked Today At first glance, today was all about a de-escalation of yesterday's Syria rhetoric from Trump (re: "missiles").  Given that we were able to credit yesterday's news for helping bonds improve, it isn't too much to ask to believe today's news could... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 +0.07 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.06 +0.09 GNMA 6.0 101.46 +0.06 Pricing as of: 7/3 5:05AM EST 10 Year US Treasury 4.2592 -0.0206 Price / Yield Change US Treasury 2 YR Treasury 3.771 -0.017 5 YR Treasury 3.848 -0.019 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.258 -0.022 30 YR Treasury 4.785 -0.024 Pricing as of: 7/3 5:05AM EST Latest Video Yale’s Robert Shiller: A solid earnings season may not prevent another corr... Home affordability projected to weaken at the fastest pace in a quarter-cen... Zillow CEO on flipping: We're ready to be an investor in our own marketplac... Around the Web CNBC Dow drops 200 points as JP Morgan falls 3.5% Bloomberg Trading Volumes Are at 2018 Lows as US Investors Wait on Earnings Washington Post Wells Fargo says it faces $1 billion penalty for mortgage, auto business misdeeds CNBC How much you'd have made if you bought a home in these cities 20 years ago CNBC Zillow shares plunge 9 percent on the company's plan to start flipping homes CNBC No relief in sight: Housing affordability is weakening at the fastest pace in a quarter century Calculated Risk Blog The Longest Expansions in U.S. History CNBC Fed's Rosengren is optimistic on the economy but wary of trade risks Calculated Risk Blog BLS: Job Openings "Little Changed" in February CNBC Consumer sentiment hits 97.8 in April vs. 100.5 estimate CNBC 2-year Treasury yield rises to highest since Sept. 2008 NAHB Eye on Housing Tax Reform Toolkit: 199A for Incomes within the Phase-In Range consumerfinancemonitor.com D.C. Circuit panel questions Mulvaney's dual CFPB/OMB roles in English appeal oral argument

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