Mortgage rates were roughly unchanged today. That would make this the 4th day in a row without any move higher in rates, and it would leave us at the lowest levels in roughly 2 weeks. But there's a catch. The catch has to do with the way that mortgage lenders change their rate sheets based on movement in underlying bond markets. Bond trading levels have a direct bearing on mortgage rates, but lenders can't very well change rates every few seconds when a new trade flashes in bonds. Rather, lenders have certain thresholds of strength or weakness in mind. As soon as bonds cross one of those thresholds, lenders will begin " repricing " for the better or worse. In other words, if bond yields (which equate to interest rates) rise enough during the course of the day, lenders will recall the day's

August 7, 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 7, 2018 Mortgage Rates Mostly Steady Today, But There's a Catch Tue, Aug 7, 2018 3:32PM Mortgage rates were roughly unchanged today. That would make this the 4th day in a row without any move higher in rates, and it would leave us at the lowest levels in roughly 2 weeks. But there's a catch. The catch has to do with the way that mortgage lenders change their rate sheets based on movement in underlying bond markets. Bond trading levels have a direct bearing on mortgage rates, but lenders can't very well change rates every few seconds when a new trade flashes in bonds. Rather, lenders have certain thresholds of strength or weakness in mind. As soon as bonds cross one of those thres... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Recap: Recent Winning Streak Breaks Down Tue, Aug 7, 2018 3:54PM Bonds enjoyed a nice little winning streak beginning last Thursday.  As of yesterday, it had carried 10yr Treasury yields below the important 2.95% technical level.  From a technician's point of view, this initiated a " test " of the pivot point.  And if pivot points aren't your thing, we could just as easily say it initiated a test of the 21-... (read more) MBS Live Day Ahead: When Moving Averages Converge! Tue, Aug 7, 2018 9:53AM I received an interesting question yesterday as to whether or not there was any significance in the fact that 25, 50, and 100 day moving averages are right on top of each other on the 10yr Treasury chart.  I'm not too shy about saying that I thi... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Wells Fargo: Deja Vu All Over Again Tue, Aug 7, 2018 9:50AM Another day, another Wells Fargo PR disaster. The company is admitting they have foreclosed on about 400 homes owned by borrowers who were not allowed loan modifications to which they were entitled, delayed three years in admitting the problem, and are hoping to cheaply remediate it. The bank disclosed the problem in a filing last Friday with the Securities ... (read more) Jumbo and Conventional Loans See Increased Availability Tue, Aug 7, 2018 11:38AM Mortgage credit availability scored a significant gain in July. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.7 percent in July to 184.1, apparently the highest level since MBA began publishing it in 2012 . An increase in the MCAI indicates that lending standards are easing while a decline is indicative of t... (read more) Two New Freddie Mac Pilots Target Affordable Rents Tue, Aug 7, 2018 11:33AM Freddie Mac has announced two new affordable rental programs. The first is a pilot in three markets (Atlanta, Orlando, and Tallahassee) that supports both affordable housing and the surrounding community. The company is providing $7.8 million to The Promise Homes Company , which owns and operates single-family rental units, to purchase 117 of them to provide... 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