Mortgage rates were flat to slightly higher today, depending on the lender. The average lender was quoting the same rates as yesterday, but with slightly higher upfront costs (or a lower credit, depending on your scenario). That said, if you could only choose one word to describe the movement, it would be "flat." The flat trajectory has been intact for 3 straight days, even though today's events had enough street cred to cause a shift in momentum. The morning hours brought an important economic report and an even more important update on the Treasury's borrowing needs. Rates care about Treasury issuance because it's the foundation of the "supply" side of the supply/demand equation for bonds (and bonds dictate rates). Rates care about economic data because a stronger economy can generally support

May 2, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Uninspired by Fed or Economic Data Mortgage rates were flat to slightly higher today, depending on the lender. The average lender was quoting the same rates as yesterday, but with slightly higher upfront costs (or a lower credit, depending on your scenario). That said, if you could on... (read more) Housing News Small Loans Offer Big Impact on Affordability Affordable housing isn't just a problem in high cost places like New York City and San Francisco according to a new study by the Urban Institute (UI) and the Federal Reserve Bank of Chicago. The creation of millions of new households every year will ... (read more) Housing News Mortgage Application Levels Drop as Rates Rise The volume of both purchase and refinancing applications moved lower last week , The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, recorded a seasonally adjusted decline of 2.5 percent in overall activi... (read more) Rob Chrisman TPO Product; Builder CEO Comp; State-Level Changes Greetings from the American Mortgage Conference in Pinehurst, NC! Fun with numbers: A penny is about 1/16 of an inch, or 192 per foot. A mile is 5,280 feet. If one were to stack pennies 1.1 million miles high you’d end up with… darn, nev... (read more) MBS Commentary MBS Live Recap: Unswayed by Fed, Bonds Punt For 3rd Straight Day We'll give Friday a pass because it was technically still part of the 2-day correction leading back from the 4-year highs in the 10yr Treasury yield seen last Wednesday, even though Thursday definitely did the heavy lifting.  Each of the days th... (read more) MBS Commentary MBS Live Commentary: Differences Between Previous and Current FOMC Statements Information received since the Federal Open Market Committee met in January March indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong strong, on av... (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 99.49 -0.02 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 6.0 101.28 -0.04 Pricing as of: 7/23 8:17AM EST 10 Year US Treasury 4.3649 +0.0189 Price / Yield Change US Treasury 2 YR Treasury 3.844 +0.015 5 YR Treasury 3.898 +0.013 7 YR Treasury 4.112 +0.014 10 YR Treasury 4.359 +0.013 30 YR Treasury 4.922 +0.006 Pricing as of: 7/23 8:17AM EST Latest Video I worry about the ECB, which is behind the curve: Pro Fed: Inflation closer to 2% target Fed leaves rates unchanged Around the Web NAR - Realtor.com I Can't Afford an Apartment': Congressmen Sleeping in Offices Cry Poverty CNBC Fed holds rates steady but points to higher inflation CNBC Sellers are increasingly stripping out luxury homes instead of tricking them out Reuters Dollar climbs to four-month highs, stocks dip before Fed Calculated Risk Blog Annual Vehicle Sales: On Pace to be unchanged in 2018 Brookings Institution Nine rules for better housing policy NAHB Eye on Housing Remodeling in 2017: Baths Reclaim Top Spot from Kitchens CNBC Bond market will suffer some 'indigestion' as Fed prepares to charge, market watcher says CNBC Companies hire 204,000 more workers in April despite signs of tightening job market: ADP Calculated Risk Blog Q1 2018 GDP Details on Residential and Commercial Real Estate NAHB Eye on Housing Private Residential Spending Tumbles in March Bloomberg The Cost of Buying a Home Near the Train Is Shrinking NAR - Realtor.com How Bad Is the Labor Shortage? Cities Will Pay You to Move There

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