Mortgage rates fell by a modest amount today. It was fairly inconsequential in the bigger picture, but could save some prospective borrowers a few dollars of upfront fees. If you're in a position to decide on locking your loan this afternoon, be aware that tomorrow brings the important jobs report (nonfarm payrolls and the unemployment rate are released) which can have a bigger impact on rates than other economic reports. Despite today's modest improvement, rates have been trending higher fairly consistently since breaking out of a sideways range on July 19th. But notably, current rates aren't that much higher than they were late last week. In contrast, Freddie Mac's widely-cited weekly rate survey says rates are 0.06% higher. That's actually fairly outrageous . For instance, one of the biggest

August 2, 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 2, 2018 Mortgage Rates Not Much Higher Than Last Week Thu, Aug 2, 2018 3:55PM Mortgage rates fell by a modest amount today. It was fairly inconsequential in the bigger picture, but could save some prospective borrowers a few dollars of upfront fees. If you're in a position to decide on locking your loan this afternoon, be aware that tomorrow brings the important jobs report (nonfarm payrolls and the unemployment rate are released) which can have a bigger impact on rates than other economic reports. Despite today's modest improvement, rates have been trending higher fairly consistently since breaking out of a sideways range on July 19th. But notably, current rates aren't... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Pivotal Trading Levels in Stocks and Bonds Thu, Aug 2, 2018 9:32AM While recent bond market trends haven't been fun for originators, they've at least been more interesting from a market-watching standpoint.  Markets throw the laws of physics on their head, where objects at rest are decreasingly likely to stay... (read more) MBS Live Recap: Uneventful Fed Stands Aside For Weaker Bonds Wed, Aug 1, 2018 4:51PM It's beginning to look and sound a lot like the Springtime when bond analysts were making their calls for the year's highest 10yr yields.  Guesses ranged from 3-4% with the majority somewhere in the lower half of that range.  The trigger back then was a move up toward--and eventually through--the 3% level.  It's been the same story over the ... (read more) MBS Live Recap: Bonds Hold Ground Despite Stronger Stocks Thu, Aug 2, 2018 4:32PM Right at 9:30am this morning, both stocks and bond yields began moving higher .  A modest overnight rally in Treasuries quickly came under fire and for a moment, we were effectively 'unchanged' on the day.  But bonds found their footing from there on out, even as stocks continued to move higher at their quickest pace of the week. None of today's... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.47 -0.07 GNMA 5.0 100.01 -0.06 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:38AM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.016 5 YR Treasury 3.581 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.065 +0.026 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 6:38AM EST Other News Fannie and Freddie Extend Strong Earning Streak Thu, Aug 2, 2018 10:58AM Both Fannie Mae and Freddie Mac, the two government supported enterprises (GSEs) that have been in federal conservatorship for ten years this month, reported another quarter of strong financial returns . Freddie Mac finished the second quarter with Comprehensive Income of $2.4 billion and the significantly larger Fannie Mae had Comprehensive Income of $4.5 b... (read more) Non-QM Products; Wells Settlement; More Decent Economic News Thu, Aug 2, 2018 9:01AM When I was a young teen one of my summer jobs was working for a successful contractor in Cupertino, California at about $5 an hour. Comp has gone up significantly, as have all costs, and any originators working with builders should look at this graphic of where the money goes in building a home. While I am yammering about builders, the President issued an ex... (read more) Latest Video Big guys in commercial real estate gobbling up little guys: Newmark chairma... Santelli Exchange: Central bank policy moves markets Cushman & Wakefield CEO on IPO day Around the Web Calculated Risk Blog Goldman: July Payrolls Preview consumerfinancemonitor.com Proposed Credit Reporting Changes Pass House With Mixed Reviews Bloomberg Real Estate Giant Cushman & Wakefield Climbs After IPO CNBC Some home sellers would see huge savings under Treasury tax cut plan Reuters Intensifying U.S.-China trade fight drags down stocks, bond yields NAHB Eye on Housing 55+ Housing Market Index Remains in Positive Territory Bloomberg Selling Millennials Home Insurance Is Lemonade's Novel Pitch Reuters U.S. factory orders rise for second straight month Reuters Possible new U.S. tariffs on Chinese goods not 'cataclysmic': Commerce Secretary CNBC US jobless claims rise less than expected in tight labor market Reuters China urges U.S. to 'calm down' in trade dispute, says its tactics will not work CNBC Bank of England raises interest rates for the second time since the financial crisis Bloomberg BOJ Takes the Fight to Bond Traders With Surprise Purchase

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