After quite a bit of volatility and a move up to 7-year highs last week, mortgage rates have managed to avoid any semblance of drama so far this week. In fact, each of the past 2 days has seen the average lender keep 30yr fixed rates perfectly in-line with Friday's latest levels. The worst that could be said of these rates is that they're very close to last week's highs. The second worst thing that could be said of these rates is that they're the latest in a series of gradual moves higher over the past few years. The general expectation is that rates can continue to move higher as long as the economy continues to tolerate higher borrowing costs. Mortgage lenders know that we are now in a rising rate environment. That means they're less likely to offer huge improvements on rate sheets unless

May 22, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Super Flat So Far This Week After quite a bit of volatility and a move up to 7-year highs last week, mortgage rates have managed to avoid any semblance of drama so far this week. In fact, each of the past 2 days has seen the average lender keep 30yr fixed rates perfectly in-lin... (read more) Housing News Nullification of Auto Loan Rule Has Broad Implications It only impacts auto lending, but if Mick Mulvaney, acting director of the Consumer Financial Protection Agency (CFPB) keeps his word, a Congressional resolution signed by the President on Monday is likely to have an eventual impact on mortgage and o... (read more) Housing News Increasing Number of Homes Built as Rental Property As if the new home inventory wasn't tight enough, the National Association of Home Builders (NAHB) say a higher proportion of those homes are being built as rentals rather than owner occupancy . Robert Dietz, writing in NAHB's Eye on Housing blog say... (read more) MBS Commentary MBS Live Day Ahead: The Biggest Risk to Fledgling Bond Bounce Today begins the 3rd day where US Treasuries aren't imploding after hitting 7 year highs last Thursday.  At this point, we might consider the resilience to be some sort of fledgling bounce attempt, even though we can continue to be concerned abo... (read more) Rob Chrisman Lender Products; State-Level Changes; Does the Yield Curve Matter? The U.S. mortgage industry likely recorded an operating loss in the first three months of 2018 due to falling loan volumes and growing expenses, the Mortgage Bankers Association’s chief economist, Michael Fratantoni, said yesterday here in New ... (read more) MBS Commentary MBS Live Recap: Bonds on Autopilot Ahead of Fed Minutes and Treasury Auction For the 2nd straight day , trading levels in bond markets held inside a narrow range--far narrower than that seen on any given day last week, let alone the entire week.  This could be incidental or it could be in anticipation of some future e... (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 -0.03 GNMA 5.5 99.72 -0.05 GNMA 6.0 101.29 -0.04 Pricing as of: 7/23 8:32AM 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 4.111 +0.012 10 YR Treasury 4.359 +0.013 30 YR Treasury 4.929 +0.012 Pricing as of: 7/23 8:32AM EST Latest Video Ellie Mae CEO: Interest rate movement not the deciding factor for homebuyer... For millennials, it's about having a house, children and retiring early: So... Auto tariffs cut to 15-percent in is a good start, former GM vice chair say... Around the Web Calculated Risk Blog FDIC: Fewer Problem banks, Residential REO Declined in Q1 NAHB Eye on Housing Standards on AD&C Loans Ease, Interest Rates Expected to Rise Bloomberg Unemployment Rate Is Lowest in Years"and Many Americans Are Just Hanging On Calculated Risk Blog Existing Home Sales: Take the Under for April Bloomberg Rising Rates Suppress Homebuilder Stocks Despite Housing Demand Bloomberg Dodd-Frank Changes 'Thoughtful, Common Sense,' ABA CEO Says Bloomberg 'Big Number' on Dodd-Frank Isn't as Big as Republicans Wanted Freddie Mac Who Is Tomorrow's Borrower? What We're Learning Might Surprise You Bloomberg Too Big to Fix: Fannie and Freddie Are Still a Mess Calculated Risk Blog Richmond Fed: "Fifth District Manufacturing Firms Reported Robust Growth in May" Calculated Risk Blog The Changing Mix of Light Vehicle Sales NAHB Eye on Housing Single-Family Built-for-Rent Construction Reuters Stock futures rise as U.S.-China trade talks advance

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