Mortgage rates spiked in a big way today, bringing some lenders to the highest levels in nearly 7 years (you'd need to go back to July 2011 to see worse). That heavy-hitting headline is largely due to the fact that rates were already fairly close to 7-year highs, although today did cover quite a bit more distance than other recent "bad days." In fact, today covered more ground BECAUSE we were so close to those highs. This has to do with trading strategies that are based on math and momentum. The high rates from 3 weeks ago were the same as the high rates seen in 2013/2014. That reinforced a magic line in the sand that--if crossed--was likely to result in extra momentum moving through to the other side. True to the formula, today was the first official break of those 2013/2014 highs in terms

May 15, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Jump to 7-Year Highs Mortgage rates spiked in a big way today, bringing some lenders to the highest levels in nearly 7 years (you'd need to go back to July 2011 to see worse). That heavy-hitting headline is largely due to the fact that rates were already fairly close to ... (read more) MBS Commentary MBS Live Day Ahead: Since The 1980's, Only 3 Other Days Like Today I hate clickbait with a passion.  Today's title might sound like clickbait.  Do I really expect you to believe that there have only been 4 days like today since the 1980's when it comes to bond markets?  Actually , yes... But ... (read more) Rob Chrisman Marketing Products; Training on Underwriting, Compliance, and Business Income Legal eagles out there are buzzing about PHH deciding not to appeal the U.S. Court of Appeals for D.C.’s January decision in its CFPB challenge. Recall that four months ago the U.S. Court of Appeals for D.C. Circuit ruled en banc in favor of PH... (read more) Housing News Builder Confidence Perks Up After Three-Month Slide The National Association of Home Builders (NAHB) and Wells Fargo said on Tuesday that builder confidence in the new home market ticked up two points on their Housing Market Index (HMII). The May reading was 70, the fourth time this year the index has... (read more) Mortgage Rate Watch Mortgage Rates Sideways But Market Says They Shouldn't Be Mortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near... (read more) MBS Commentary MBS Live Recap: Impressionable Bonds Hit by Central Bank Comments and Issuance Low volume and lighter-than-normal liquidity left US bond markets more impressionable than normal today.  Or perhaps it IS normal given that it's a data-free Monday in the middle of May and the day after Mother's Day.  Those details would... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.77% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.77% -0.01 0.00 15 Yr. Fixed 6.03% -0.01 0.00 30 Yr. FHA 6.35% 0.00 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.36% 0.00 0.00 Updates Daily - Last Update: 7/22 15 Yr. Fixed Rate 6.03% -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 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.50 -0.01 Price / Yield Change MBS UMBS 5.5 99.50 -0.01 UMBS 6.0 101.36 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.29 -0.04 Pricing as of: 7/23 8:31AM EST 10 Year US Treasury 4.3574 +0.0114 Price / Yield Change US Treasury 2 YR Treasury 3.842 +0.013 5 YR Treasury 3.898 +0.013 7 YR Treasury 4.112 +0.014 10 YR Treasury 4.360 +0.014 30 YR Treasury 4.929 +0.012 Pricing as of: 7/23 8:31AM EST Latest Video Mortgage rates on the rise Homebuilder sentiment rises in May Business inventories unchanged in March Around the Web Calculated Risk Blog Phoenix Real Estate in April: Sales down 9%, Inventory down 26% YoY Reuters At top of Fed, a dispute on policy picks up steam CNBC Rising rates could be problematic because the typical money manager working today has never dealt with them before Bloomberg Big Short on Treasuries Is Proving Both Popular and Profitable CNBC House expected to vote on Senate bill rolling back some bank rules next week Bloomberg Tax Changes Force Cash-Hoarding Companies to Sell Bonds Washington Post Trump's Fed nominees say they will 'absolutely' keep the central bank independent of the White House CNBC There are a number of forces in place that could keep pushing rates even higher CNBC Mortgage rates are surging to the highest level in 7 years Bloomberg Kaplan Says Fed Should Avoid 'Knowingly' Inverting Yield Curve Bloomberg Volcker Rule Rewrite Is Said to Drop Key Trading Burden on Banks Bloomberg US 10-Year Yield Reaches Highest Since 2011 as Rout Deepens Freddie Mac Freddie Mac Forgoes Issuing a Reference Notes Security on its May 15, 2018 Announcement Date

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