Mortgage rates were sideways to slightly lower today, depending on the lender. That presents something of an opportunity because underlying bond markets have been suggesting a move in the other direction over the past few days. In other words, the bonds that underlie mortgage rates have weakened, but rates themselves are stable or stronger. Much of this paradox has to do with the time of day that lenders generate their rate sheets. For example, if rate sheets were updated in real time, we might be seeing slightly higher rights this afternoon. With all of the above in mind, today's relatively lower rates are compelling for those who are in a position to lock. If nothing changes about underlying markets by tomorrow morning, most lenders will likely be slightly worse off. Of course, "worse" is

April 4, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Apr 4, 2018 Mortgage Rates Still Solid Despite Warning Signs Wed, Apr 4, 2018 3:56PM Mortgage rates were sideways to slightly lower today, depending on the lender. That presents something of an opportunity because underlying bond markets have been suggesting a move in the other direction over the past few days. In other words, the bonds that underlie mortgage rates have weakened, but rates themselves are stable or stronger. Much of this paradox has to do with the time of day that lenders generate their rate sheets. For example, if rate sheets were updated in real time, we might be seeing slightly higher rights this afternoon. With all of the above in mind, today's relatively l... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Recap: More Stock Market Interdependence; MBS Outperform Wed, Apr 4, 2018 4:18PM On a few occasions during the past few weeks, I've brought MBS underperformance to your attention.  Specifically, MBS and mortgage rates hadn't been improving as robustly as Treasuries since yields topped out back in mid-February (or again on March 21st).  A chart of Treasury yields vs mortgage rates shows Treasuries steadily declining (even if t... (read more) MBS Live Day Ahead: China Tariff News May Not Be Enough For Bonds Wed, Apr 4, 2018 9:57AM Although preliminary news was out yesterday about China potentially announcing retaliatory tariffs on the US, that announcement was officially made overnight.  Actually, it was a borderline-comical catalog of announcements that ended incl... (read more) MBS Live Recap: Bond Rally Hits Snag As Stocks Bounce Tue, Apr 3, 2018 4:18PM Granted, it's an on-again, off-again relationship between stock prices and rates, but it's been "on" for the past few days.  Today was no exception.  Stocks were close enough to their recent, relative abyss that any further weakness would have broken key technical floors.  The resulting selling would have likely helped bonds continue to rall... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 1:12AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 1:12AM EST Other News March Application Volume Ended on Sour Note Wed, Apr 4, 2018 9:26AM The strong showing for both refinancing and purchase applications during the week ended March 23 didn't last, with both reversing course last week. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan application volume, decreased 3.3 percent on a seasonally adjusted basis during the week ended March 30, and was down 3... (read more) Referral and Disclosure Products; Down Payment and LTV Trends Wed, Apr 4, 2018 9:14AM As residential origination volumes and margins contract, plenty of lenders are looking at construction, non-QM, bond, government, ARM, SBA, and USDA lending opportunities. Who are Acore Capital, Apollo Commercial Real Estate, Blackstone Mortgage, KKR Real Estate, Mack Real Estate, Madison Realty Capital, Mesa West Capital, Starwood Property and TPG Real Esta... (read more) Latest Video Jeff Gundlach's bond call Santelli Exchange: "Striking" a balance on fair trade ISM nonmanufacturing index at 58.8 Around the Web Calculated Risk Blog U.S. Heavy Truck Sales up Year-over-year in March Reuters Facebook says data leak hits 87 million users, widening privacy scandal consumerfinancemonitor.com CFPB issues twelfth semi-annual report Freddie Mac New Research Finds Increasing Preference for Renting Bloomberg Bond Bears Battered by Recent Rally See Renewed Sign of Selloff Calculated Risk Blog Annual Vehicle Sales: On Pace to be Unchanged in 2018 NAHB Eye on Housing Mortgage Rates Rise NAR - Realtor.com The Hot Debate: Can You Deduct Prepaid Property Taxes? CNBC China's vice finance minister dismisses talk of selling US Treasurys in response to tariffs CNBC US factory orders increase broadly in February CNBC ISM non-manufacturing index hits 58.8 in March, vs. 59 estimate Reuters U.S. escalates China trade showdown with tariffs on $50 billion in imports CNBC 'Rip-roaring' job market adds another 241,000 in March: ADP/Moody's

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