Mortgage rates rose today at the quickest pace in months, ultimately hitting the highest levels since June 25th for the average lender. While neither of those are "fun" facts for fans of low rates, they are made slightly more palatable by the nature of the recent range. Specifically, rates hadn't moved very much since late June. The average mortgage seeker will not have seen a change in their quoted interest rate during that time (the only adjustments have been to upfront closing costs/credits). The point is that it didn't require a huge move to be able to say "highest in a month" or "fastest pace in months." Caveats aside, today's rate spike confirms that a recent consolidation in the bond market is now over . The risk is that by breaking to the upside, rates have signaled that we're in for

July 23, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.00% -0.22%   6% 7.45% Compare Mortgage Rates from Local Lenders for Jul 23, 2018 Mortgage Rates Surge to 1-Month Highs Mon, Jul 23, 2018 3:53PM Mortgage rates rose today at the quickest pace in months, ultimately hitting the highest levels since June 25th for the average lender. While neither of those are "fun" facts for fans of low rates, they are made slightly more palatable by the nature of the recent range. Specifically, rates hadn't moved very much since late June. The average mortgage seeker will not have seen a change in their quoted interest rate during that time (the only adjustments have been to upfront closing costs/credits). The point is that it didn't require a huge move to be able to say "highest in a month" or "fastest ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.00% -0.22 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.65 -0.02   95.05 99.96 UMBS 30YR 5.5 101.07 -0.01   97.47 101.28 10 YR Treasury 4.043 +0.014   3.932 4.780 MBS Live Recap: The Range Finally Breaks, But Not The Way You Were Hoping Mon, Jul 23, 2018 4:30PM Super narrow consolidation patterns in bonds are always super boring until they're not.  It looked like things may have been getting exciting as early as Wednesday of last week, but then Thursday brought a fairly convincingly rally that reinforced the 2.89% ceiling.  Rather than go into the weekend with a typically inconsequential trading day, Fr... (read more) MBS Live Day Ahead: Bonds On The Run? Mon, Jul 23, 2018 9:18AM Not to be confused with a band on the run, bonds find themselves in something of a similar predicament to the namesake of McCartney's post-Beatles single.  Specifically, both bonds and the band had been locked inside confined quarters, both ha... (read more) MBS Price Change UMBS 4.5 97.67 -0.02 UMBS 5.0 99.67 -0.01 UMBS 5.5 101.08 -0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.94 +0.11 GNMA 5.5 100.82 -0.08 Pricing as of: 10/15 3:25PM EST US Treasury Yield Change 2 YR Treasury 3.501 +0.019 5 YR Treasury 3.625 +0.021 7 YR Treasury 3.812 +0.014 10 YR Treasury 4.040 +0.012 30 YR Treasury 4.637 +0.007 Pricing as of: 10/15 3:25PM EST Other News Freddie Mac Hopes for 2nd Half Home Sale Surge Mon, Jul 23, 2018 12:11PM While official existing home sales data, released this morning by the National Association of Realtors® (NAR), showed the sector's losing streak extending to three months and pending sales through May have lost ground for five straight months, Freddie Mac released an upbeat forecast for total home sales this year . The company's economists said that both... (read more) Existing Home Sales Fall for Third Month Despite Increasing Inventories Mon, Jul 23, 2018 10:59AM Existing home sales extended their losing streak to three months in June. The National Association of Realtors® (NAR) said that single-family homes, townhomes, condominiums, and cooperative apartments sold during the month at an annual rate that was 0.6 percent below that of the previous month and lagged sales in June of last year by 2.2 percent. Sales w... (read more) Home Equity and JV Products; Upcoming Events; Credit-Based Lender Changes Mon, Jul 23, 2018 8:55AM Mortgage bankers have plenty of interests. Baconry, for example. (It’s like falconry, or reverse animal husbandry.) Another is the study of real estate agents. When you survey 201,000 National Association of Realtors members (out of the 1.3 members – half of all active licensees) you come up with only 12,495 usable responses (6.2%). Apathy aside,... (read more) Latest Video Housing supply crisis worsens Hedge fund billionaire Ken Griffin on the real estate market Mnuchin: I fully support the Fed's independence as does the president Around the Web Calculated Risk Blog Housing Inventory Tracking Calculated Risk Blog California: "Home sales stumble", Inventory up 8.1% YoY Reuters Bond yields rise worldwide on stimulus concerns; earnings loom Calculated Risk Blog A Few Comments on June Existing Home Sales NAHB Eye on Housing Apartment Absorption Remains Steady CNBC Flattening of yield curve is stoking fears of a recession Brookings Institution Tax exemption offsets lack of competition in municipal bond markets CNBC Markets are ignoring Trump tweets more and more, UBS economist says Bloomberg US 4% GDP Growth Seen More 'Luck of the Draw' Than New Reality builderonline.com Single-Family Rental Units Have Never Been Easier to Buy CNBC There could be a major move in the bond market in 2019 but don't panic, UBS analyst says CNBC Another Italian bank is in trouble with the ECB Bloomberg BOJ Offers Unlimited Bond Buying After Yields Jump on Reports

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