Mortgage rates fell by an observable amount today-- one of the few times they've done so in recent weeks. Technically, today's average lender is offering the best we've seen since May 31st. That sounds pretty great, right?! Unfortunately, there's a fairly big catch. While today's rates are indeed the best in a month and a half, the range during that time has been so excruciatingly narrow that most prospective mortgage borrowers will find the distinction fairly meaningless. In almost all cases, the actual NOTE rate at the top of your loan quote will be the same as it has been for weeks. The only change in lenders' rate sheets is in the upfront cost associated with that rate. In other words, if you'd seen a quote of 4.75% with 0 points yesterday, today's quote would be more like 4.75% with a

July 13, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Lowest Rates Since May, But There's a Catch Mortgage rates fell by an observable amount today-- one of the few times they've done so in recent weeks. Technically, today's average lender is offering the best we've seen since May 31st. That sounds pretty great, right?! Unfortunately, there's a f... (read more) MBS Commentary MBS Live Recap: Bonds Gain Despite Data Surprise and Stock Rally Before any discussion about market movement in July, we have to set the stage with some disclaimer about "slow summertime trading."   That was the subject of this morning's commentary (read it here, if you like). With that out of the way, we're... (read more) MBS Commentary MBS Live Day Ahead: Get Used to Coconuts, Probably I know I made a Looney Tunes reference last week, but another one is in order.  For those that aren't familiar, Yosemite Sam is stranded on a desert island and sits down to a smorgasbord of coconuts, prepared in various ways: "tossed coconut sal... (read more) Rob Chrisman Construction, Warehouse Products; Free LO Comp Webinar; Shifting UW Criteria Events and Training Don't miss out on the Lenders One 2018 Summer Conference in Salt Lake City, Utah, August 5-8, at The Grand America. In an age of disruption, it's never been more important to learn from peers and industry leaders. Keynote speakers... (read more) Mortgage Rate Watch Mortgage Rates Still Can't Find Inspiration Mortgage rates stood a very decent chance to experience the highest volatility of the week today thanks to the most important economic data of the week being released this morning. The Consumer Price Index (CPI) is the most widely-followed inflation ... (read more) MBS Commentary MBS Live Recap: Bonds Hold Steady Despite Big Ticket Events Welcome to summertime in the bond market, where each day is narrower than the last!  The same can be said for the past 2 weeks and the past several months, for that matter.  By a wide margin, the 3-day trading range surrounding the a... (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 6.0 101.28 -0.04 Pricing as of: 7/23 8:26AM EST 10 Year US Treasury 4.3574 +0.0114 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 4.927 +0.010 Pricing as of: 7/23 8:26AM EST Latest Video Fed: Wage growth remains moderate Consumer sentiment misses 98 estimate result of tariff talk Does the flattening and potential inversion of the yield curve portend a US... Around the Web Reuters Wells Fargo's loan book shrinks, profit misses estimates Calculated Risk Blog Looking back 9 Years Ago: The Sluggish Recovery Began CNBC The bond market is sounding an alarm on the economy as 'yield curve' spread hits narrowest in 11 years on Friday CNBC Want to buy a house? How long you'll have to save depends on where you live Calculated Risk Blog Q2 GDP Forecasts Reuters Fed emphasizes 'solid' U.S economic growth, repeats gradual approach CNBC Consumer sentiment hits 97.1 in July vs. 98.2 estimate Bloomberg Wells Fargo Mortgage Fees Drop by a Third as Interest Rates Rise NAHB Eye on Housing Apartment Construction Times Lengthened in 2017 CNBC The US and UK have agreed to pursue an 'ambitious' trade deal, says UK leader Theresa May Reuters U.S. import prices post biggest drop in two years Calculated Risk Blog Housing Inventory Tracking Reuters COLUMN-In defence of the yield curve: McGeever

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