Be careful what you read--or perhaps, who you trust--about mortgage rates today. There's a lot of misinformation out there. Don't be mad. No one is out to get you. No one is out to intentionally deceive you (at least not when it comes to today's mortgage rate news. Rather, the misinformation is a byproduct of a few unfortunate realities that we contend with on a regular basis. The first reality is that Freddie Mac's weekly rate survey is widely relied upon by media outlets. There's nothing wrong with Freddie's data as long as you understand what you're getting. It is a stale, loosely accurate report of what a few lenders are offering on a few days of any given week. Over time (preferably, a LONG time), it does a nearly perfect job of capturing the ups and down in mortgage rates. The problem

August 16, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rate Misinformation Run Amok! Be careful what you read--or perhaps, who you trust--about mortgage rates today. There's a lot of misinformation out there. Don't be mad. No one is out to get you. No one is out to intentionally deceive you (at least not when it comes to today's mort... (read more) Housing News Purchase Origination Share Remains at Survey High Purchase loans held on to the June share of 71 percent of closed loans in July which remains the highest share in the seven-year history of Ellie Mae's Origination Insight Report . Refinances also held steady, remaining at 29 percent although the per... (read more) Rob Chrisman Tech and Vendor Updates; White Paper on Reasons for Margin Compression Trillions of dollars of securities are tied to LIBOR, but the London Interbank Offered Rate is scheduled to be phased out at the end of 2021. Companies servicing adjustable rate mortgages tied to LIBOR are concerned, understandably, about the transit... (read more) MBS Commentary MBS Live Day Ahead: Turkey Causing Road Rage; Another Look at Moving Average Misdirection I found myself driving in the truck for more than an hour yesterday evening--long enough to hear the news cycle repeated several times.  During that time, I was emphatically warned about this " new " and " surprising " issue of Turkey's financia... (read more) Housing News Economic Environment Depressing Millennal Homeownership It shouldn't be news to anyone that the homeownership rate of the Millennial generation continues to be anemic. While it has improved slightly since 2015, the Urban Institute's (UI's) new research shows that, at that point it was 37 percent, 8 percen... (read more) Housing News Construction Numbers Post Sluggish Recovery As analysts had predicted, both housing permits and starts recovered , albeit only slightly, in July after a poor showing the previous month. The U.S. Census Bureau and the Department of Housing and Urban Development now report that housing permits a... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.03 0.00 15 Yr. Fixed 6.05% +0.01 0.00 30 Yr. FHA 6.38% +0.02 0.00 30 Yr. Jumbo 6.91% +0.01 0.00 7/6 SOFR ARM 6.27% +0.02 0.00 30 Yr. VA 6.40% +0.02 0.00 Updates Daily - Last Update: 7/24 15 Yr. Fixed Rate 6.05% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.74% -0.01 0.00 15 Yr. Fixed 5.87% -0.05 0.00 Updates Weekly - Last Update: 7/24 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.31 -0.05 Price / Yield Change MBS UMBS 5.5 99.31 -0.05 UMBS 6.0 101.25 -0.06 GNMA 5.5 99.58 -0.05 GNMA 6.0 101.22 -0.04 Pricing as of: 7/24 7:18PM EST 10 Year US Treasury 4.3982 +0.0145 Price / Yield Change US Treasury 2 YR Treasury 3.923 +0.045 5 YR Treasury 3.960 +0.030 7 YR Treasury 4.164 +0.020 10 YR Treasury 4.398 +0.015 30 YR Treasury 4.939 -0.001 Pricing as of: 7/24 7:18PM EST Latest Video Housing market shifts to buyer's market US-China talks to take place Aug 22 to 23: Source Inital jobless claims down 2,000 Around the Web Calculated Risk Blog California: "Housing market retreats", Inventory up 11.9% YoY Reuters Global stocks, emerging market currencies rise on planned U.S.-China trade talks NAHB Eye on Housing Townhouse Construction Surges Bloomberg A New Home for $90000? Manufactured Housing Is Making a Comeback consumerfinancemonitor.com Senate Banking Committee schedules August 23 vote on Kraninger nomination Calculated Risk Blog MBA: Mortgage Delinquency Rate decreased in Q2 Reuters Erdogan, Macron vow to boost economic ties: Turkish presidential source Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 212,000 Calculated Risk Blog Housing Starts at 1.168 Million Annual Rate in July CNBC China and US will hold the next round of trade talks in late August NAR - Realtor.com You'll Never Guess Where Homeowners Are Moving the Most, Really CNBC Trump might get his slowdown in rate hikes, but for the wrong reason CNBC 3 myths about what affects your credit score that FICO wants to clear up for you

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