Mortgage rates were steady again today, holding on to the improvements seen yesterday afternoon following a surprise "flash rally" in bond markets. Such flash moves always create the risk that rates will experience a correction that takes them quickly back in the other direction, so today's "flat" performance is actually fairly positive in the bigger picture. Still, neither today nor yesterday's rate levels are even close to recent extremes. In order to see those boundaries tested (for better or worse) we'll need to wait for the more important events on tap for next week. These include several major economic reports as well as policy announcements from the Fed and the European Central Bank. Loan Originator Perspective Bond markets slumbered through a quiet Friday, retaining a portion of yesterday

June 8, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.33% -0.01%   6.13% 7.26% 15 Yr. Fixed 5.80% -0.02%   5.6% 6.59% 30 Yr. Jumbo 6.35% +0.03%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jun 8, 2018 Mortgage Rates Flat Ahead of Potential Volatility Fri, Jun 8, 2018 3:31PM Mortgage rates were steady again today, holding on to the improvements seen yesterday afternoon following a surprise "flash rally" in bond markets. Such flash moves always create the risk that rates will experience a correction that takes them quickly back in the other direction, so today's "flat" performance is actually fairly positive in the bigger picture. Still, neither today nor yesterday's rate levels are even close to recent extremes. In order to see those boundaries tested (for better or worse) we'll need to wait for the more important events on tap for next week. These include several... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.33% -0.01 0.00 15 Yr. Fixed 5.80% -0.02 0.00 30 Yr. FHA 6.05% -0.01 0.00 30 Yr. Jumbo 6.35% +0.03 0.00 7/6 SOFR ARM 5.95% -0.03 0.00 30 Yr. VA 6.06% -0.02 0.00 Updates Daily - Last Update: 11/4 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.62 +0.04   95.05 100.11 UMBS 30YR 5.5 101.08 +0.01   97.47 101.40 10 YR Treasury 4.087 +0.002   3.932 4.780 MBS Live Day Ahead: Refreshing Resilience Introduces New Possibilities Fri, Jun 8, 2018 9:06AM The day is young, but the fact that we're starting out with much of yesterday's "flash" rally intact means that new doors are opening for bonds.   Next week's central bank announcements are--well... central to any assessment of near term... (read more) MBS Live Recap: Fleeting Gift or Just The Beginning? Thu, Jun 7, 2018 5:01PM Today ended up being all about the early afternoon "flash crash" in bond yields (from 2.94 to 2.884% in fairly short order).  While they're not common, these sorts of things do happen from time to time.  The most notable past example in October 2014 was quite a bit bigger than today's.  It occurred near the stronger edged of a longer-term down... (read more) MBS Live Recap: Bonds Mostly Hold "Flash Rally" Gains Fri, Jun 8, 2018 4:56PM What a quiet and boring trading session it was!  Well, to be fair, there's still half an hour left as I type this, but most bond market participants mark the end of the day at 3pm E.T.  By that time, we were almost perfectly unchanged and hadn't seen a lick of volatility--quite impressive given yesterday's volatile "flash rally" move. Those sor... (read more) MBS Price Change UMBS 4.5 97.60 +0.02 UMBS 5.0 99.62 +0.05 UMBS 5.5 101.08 +0.01 GNMA 4.5 97.65 +0.01 GNMA 5.0 99.75 -0.05 GNMA 5.5 100.83 -0.03 Pricing as of: 11/5 6:37AM EST US Treasury Yield Change 2 YR Treasury 3.572 -0.006 5 YR Treasury 3.693 -0.005 7 YR Treasury 3.877 +0.001 10 YR Treasury 4.088 +0.002 30 YR Treasury 4.673 +0.007 Pricing as of: 11/5 6:37AM EST Other News Consumer Optimism Continues Despite Rising Home Prices Fri, Jun 8, 2018 10:05AM Despite declining consumer confidence about buying a home, Fannie Mae's Home Purchase Sentiment Index® (HPSI) hit a second consecutive survey high in May. The Index, which distills some of the responses from the National Housing Survey, rose 0.6 points to 92.3. In May 2017 the Index stood at 86.2. However, the company says consumer attitudes about buying... (read more) Underwriting, Accounting Products; Fannie and Freddie Continue to Shift Risk Fri, Jun 8, 2018 8:37AM For me this week includes time in Indianapolis and Chicago. Once again, I am impressed by the talent in residential lending – the industry is filled with people helping clients and wanting to do it in a compliant, fair, and economical manner. But there seems to be one segment of the industry profitable, looking for new products, and trying to expand, a... (read more) Latest Video Bulls bet on D.R. 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