Mortgage rates have been exceptionally sideways for nearly 2 weeks now--this after hitting the highest levels in more than 4 years on April 25th. As always, the run up to long-term highs happened in concert with weakness in the broader bond market. Rates are based primarily on the prices of mortgage-backed securities (MBS). In turn, MBS movement is heavily dependent on movement in the broader bond market (where bonds like US Treasuries are top dog, domestically). All that to say: we're not really witnessing a mortgage rate phenomenon, but rather a bond market phenomenon. Both Treasuries and MBS are trying to decide if they will try to stage a more meaningful recovery or if they will push up to even higher levels than those seen in late April. Some of this week's data and events could play a

May 7, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Still Waiting to Make a Move Mortgage rates have been exceptionally sideways for nearly 2 weeks now--this after hitting the highest levels in more than 4 years on April 25th. As always, the run up to long-term highs happened in concert with weakness in the broader bond market. R... (read more) Housing News Monitor: Eye-Catching Decline in Defaults, Deceleration in Home Prices Sighted The month of March nearly always sees a significant decline in the national delinquency rate. The average March decrease during this century has been just under 11.0 percent. Black Knight has speculated in the past that this is likely because the rec... (read more) MBS Commentary MBS Live Week Ahead: Auctions and CPI Data Vote on Bonds Next Move Longer-term rates have been in a bit of a holding pattern after deciding not to smash through the highest levels in more than 4 years at the end of April.  Since then, the trend has been anything but conclusive with yields drifting mostly side... (read more) Rob Chrisman LIBOR Update; Economy Readings Solid Nearly every residential lender is selectively scaling back, or rumored to be scaling back, for a multitude of reasons. Suddenly a company cutting a LO who is barely doing one loan a month, or shuttering a continuously unprofitable branch, is turned ... (read more) MBS Commentary MBS Live Recap: Back and Forth After Jobs Report; Still Sideways After the week's biggest dose of intraday volatility this morning, rates ended up almost perfectly unchanged.  Charts suggest an uncommonly high amount of indecision with 3 out of the 5 trading days seeing overall ranges that were at least 4 t... (read more) MBS Commentary MBS Live Recap: Another Unofficial 3-Day Weekend (Still in Progress) This happens from time to time on Mondays.  Either due to a holiday overseas or some other distraction, a data-free Monday ends up being a complete dud in terms of volume and volatility in the US trading session.  Such was the case today, w... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.79% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.79% +0.02 0.00 15 Yr. Fixed 5.99% +0.01 0.00 30 Yr. FHA 6.30% +0.02 0.00 30 Yr. Jumbo 6.87% 0.00 0.00 7/6 SOFR ARM 6.33% -0.06 0.00 30 Yr. VA 6.31% +0.02 0.00 Updates Daily - Last Update: 7/10 15 Yr. Fixed Rate 5.99% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 99.55 -0.01 Price / Yield Change MBS UMBS 5.5 99.55 -0.01 UMBS 6.0 101.34 -0.02 GNMA 5.5 99.84 +0.00 GNMA 6.0 101.37 -0.01 Pricing as of: 7/11 3:07AM EST 10 Year US Treasury 4.3582 +0.0114 Price / Yield Change US Treasury 2 YR Treasury 3.872 -0.004 5 YR Treasury 3.937 +0.002 7 YR Treasury 4.131 +0.004 10 YR Treasury 4.359 +0.012 30 YR Treasury 4.882 +0.012 Pricing as of: 7/11 3:07AM EST Latest Video Santelli Exchange: Volatility and price congestion Housing confidence hits record high as prices skyrocket Buffett: Don't think we'll have trade wars of significance Around the Web Bloomberg Departure of Fed's Dudley Will Open the Door for a Hawk on FOMC NAR - Realtor.com Americans Haven't Been This Optimistic About House Prices Since Just Before the Crash CNBC Consumer staples have gotten slammed, but it could be the perfect time to buy NAHB Eye on Housing House Search Takes Many Months, But Buyers Do Not Intend to Give Up Bloomberg ECB Says Protectionism Would Hurt Economy With US Hit Severely Bloomberg Fed Can't Return to Old Money Market Ways Even If It Wants to CNBC Buying a second home? Don't overlook these key tax considerations CNBC Warren Buffett: Would easily choose stocks over bonds CNBC Banks are working to woo new doctors into home mortgages The Basis Point Linkage: one-third of homeowners don't know their mortgage rate Reuters Bank of England to keep rates steady after market U-turn Bloomberg Fed's Williams, Dudley Stress Soft Ceiling on Inflation Goal Bloomberg Can't Beat the NYC Rental Market? Maybe It's Time to Buy Instead

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