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: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 16, 2018 Mortgage Rate Misinformation Run Amok! Thu, Aug 16, 2018 3:31PM 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 ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.048 +0.009   3.621 4.780 MBS Live Day Ahead: Turkey Causing Road Rage; Another Look at Moving Average Misdirection Thu, Aug 16, 2018 10:34AM 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) MBS Price Change UMBS 5.0 99.73 -0.05 UMBS 5.5 101.25 -0.03 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.04 -0.03 GNMA 5.5 101.20 +0.02 GNMA 6.0 102.14 -0.04 Pricing as of: 9/9 12:10AM EST US Treasury Yield Change 2 YR Treasury 3.498 +0.010 5 YR Treasury 3.570 +0.009 7 YR Treasury 3.776 +0.008 10 YR Treasury 4.048 +0.009 30 YR Treasury 4.698 +0.007 Pricing as of: 9/9 12:10AM EST Other News Purchase Origination Share Remains at Survey High Thu, Aug 16, 2018 12:33PM 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 percentage of refinancing through the VA gained 2 percentage points to 25 percent. Conventional and FHA stayed at... (read more) Economic Environment Depressing Millennal Homeownership Thu, Aug 16, 2018 8:05AM 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 percentage points lower than the homeownership rate of Gen Xers and baby boomers at the same age. This translates in... (read more) Construction Numbers Post Sluggish Recovery Thu, Aug 16, 2018 10:15AM 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 are being issued at a pace higher than in 2017, but housing starts are still lagging the earlier number. Permit... (read more) Tech and Vendor Updates; White Paper on Reasons for Margin Compression Thu, Aug 16, 2018 8:56AM 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 transition to another index. So far, the front runner substitute seems to be the Secured Overnight Financing Rate. Fl... (read more) 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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