Mortgage rates caught some small semblance of a break today. If it's not apparent based on that assessment in conjunction with the headline, the improvements certainly left something to be desired, even though that's to be expected, given the circumstances. Here's what I mean by that: Rates are based on the bond market. Trading levels in the bond market are back in line with (or slightly better than) Tuesday's levels. But mortgage rates are still higher than those seen on Tuesday. It's really that simple. Why is it to be expected? Mortgage rates aren't created automatically based on the bond market. The bond market is merely the primary input. Lenders use bond prices/levels as a baseline for determining rates. If the market has been more volatile, lenders are quicker to raise rates and slower

May 18, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Temporary Factors Help Mortgage Rates... Temporarily Mortgage rates caught some small semblance of a break today. If it's not apparent based on that assessment in conjunction with the headline, the improvements certainly left something to be desired, even though that's to be expected, given the circums... (read more) MBS Commentary MBS Live Day Ahead: What Is a Short Squeeze And How Could It Help Us? The notion of "positions" is extremely important to the bond market (and to any market for that matter).  At the most basic level, a LONG position seeks to profit from prices rising (or yields falling) and a SHORT position seeks to profit from... (read more) Rob Chrisman Subservicing, Compliance, and Warehouse Products; Private Mortgage Insurance Trends Folks heading to the MBA’s Secondary conference should know that there are 329 street-level newsstands in New York City. (The peak was 1,500 in the 1950s.) By law, the maximum price for anything at a newsstand is $10, meaning that newspapers ar... (read more) Housing News NAR Curtails Earlier Home Sales Estimates In the face of continuing inventory shortages, declining consumer sentiment in favor of buying a home, and concern about the homeownership impacts of the 2017 tax cut bill, the National Association of Realtors® (NAR) has revised down, albeit only... (read more) MBS Commentary MBS Live Recap: Bonds Still On The Ropes Today was the calmest of the past 3 days of craziness, although the higher-than-average volume suggests things are still happening behind the scenes.  Specifically , that volume can be largely attributed to traders cashing in previous bets on h... (read more) MBS Commentary MBS Live Recap: Nothing to be Mad About, But... Bonds rallied today for the first time all week, and fairly well at that!  10yr yields fell more than 5bps and Fannie 3.5 MBS rose nearly 3/8ths of a point.  Not much to be mad about there, right? Indeed, there's nothing to be mad abou... (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 We'll start to see competition in asset allocation between bonds and stocks... Money moves you want to make as the Fed raises interest rates The Fed wants to hike rates, but this is their Achilles' heel Around the Web NAR - Realtor.com In-Person Home Appraisals Won't Be Required for Some Loans: Should You Get One Anyway? Calculated Risk Blog "CAR: California Existing Single-Family Home Inventory Shows First YOY Gain in a Long While" NAR - Realtor.com The Era of Low Mortgage Rates Is Over Calculated Risk Blog Lawler: Early Read on Existing Home Sales in April PR Newswire Realtors Say Commercial Market on the Upswing, Construction Activity Sluggish Freddie Mac Freddie Mac Announces the Home Possible RISE Award(SM) Winners Calculated Risk Blog BLS: Unemployment Rates Lower in 4 states in April; California, Hawaii and Wisconsin at New Series Lows Bloomberg Fed's Mester Warns Against Dismantling Post-Crisis Bank Reforms builderonline.com Direct Home Buyer OfferPad Secures Another $150M in Funding CNBC A floating Pacific island is in the works with its own government, cryptocurrency and 300 houses CNBC A floating Pacific island is in the works with its own government, cryptocurrency and 300 houses independent.co.uk Good Overview of Italian Political Situation (Which is Affecting Bond Markets) Calculated Risk Blog Update: Housing Inventory Tracking

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