Mortgage rates fell modestly today, following a weaker-than-expected report on inflation. The Consumer Price Index (CPI) measures the change in prices that consumers pay for various goods. The widely followed "core" reading (which ignores more volatile food and energy prices) fell to an annual pace of 2.2%. Economists were expecting that number to remain at 2.4%. Lower inflation is good for rates because rates are based on the bond market. Bond investors are paying a lump sum today in exchange for a fixed schedule of payments in the future. Higher inflation means the money they receive in the future may have less buying power. When inflation is expected to rise, bond investors therefore demand higher premiums--another way of saying they're charging higher interest rates to borrowers. In the

September 13, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Slightly Lower Mortgage rates fell modestly today, following a weaker-than-expected report on inflation. The Consumer Price Index (CPI) measures the change in prices that consumers pay for various goods. The widely followed "core" reading (which ignores more volati... (read more) Housing News Mortgage Fraud Risks Rise, Especially Income Fraud The risk of mortgage fraud jumped by 12.4 percent on an annual basis in the second quarter, the seventh consecutive quarter in which it has increased . CoreLogic said its Mortgage Application Fraud Risk Index now puts the rate of fraud at 0.92 percen... (read more) Rob Chrisman Marketing, Bank Statement, HELOC Products; Originator Events; Agency and Lender Disaster Updates “Rob, would you happen to have a suggestion as to where I can find information as to the number of HUD loans done on manufactured housing last year, or by month?” Ah, the ol’ Title I activity query. The MBA’s Mr. Michael Frata... (read more) MBS Commentary MBS Live Day Ahead: Weekly Candlestick Chart is Actually Hopeful. Should You Trust It? Right off the bat, with respect to the headline, I'll let you know that the answer is going to be "it depends."  More on that in a moment.   Bonds are starting the day in stronger territory after a weaker CPI reading and a tame Europea... (read more) MBS Commentary MBS Live Recap: Bonds Consolidate Despite Weak Data and Strong Auction Today brought two events that should theoretically have helped bonds: a much weaker producer level inflation reading (2.4 vs 2.7 forecast for core PPI) this morning, and a fairly strong 10yr Treasury auction in the afternoon.  But neith... (read more) MBS Commentary MBS Live Recap: Bonds Refuse to Rally Big After CPI's Big Miss Bond markets were clearly interested in today's Consumer Price Index (CPI) data.  It generated a larger single minute of volume than the minute following last Friday's NFP report (the one that caused bonds to tank due to the wage growth componen... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 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 99.35 -0.16 Price / Yield Change MBS UMBS 5.5 99.39 -0.12 UMBS 6.0 101.32 -0.08 GNMA 5.5 99.63 -0.15 GNMA 6.0 101.27 -0.05 Pricing as of: 7/23 1:12PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.870 +0.040 5 YR Treasury 3.926 +0.041 7 YR Treasury 4.141 +0.043 10 YR Treasury 4.387 +0.041 30 YR Treasury 4.955 +0.039 Pricing as of: 7/23 1:12PM EST Latest Video House to vote October 1 on making tax cuts permanent Santelli Exchange: European Central Bank to phase out easing by year-end Former Lazard deputy chairman on Lehman 10 years later Around the Web Reuters Atlanta Fed's Bostic: Rate hikes can continue for several more quarters Calculated Risk Blog Housing Inventory Tracking Calculated Risk Blog Sacramento Housing in August: Sales Down 3.3% YoY, Active Inventory up 22% YoY CNBC Tepper says tax cuts were too steep and likely borrowed economic growth from the future Brookings Institution Hutchins Roundup: The natural rate of interest, pre-employment credit screening, and more Calculated Risk Blog Early Look at 2019 Cost-Of-Living Adjustments and Maximum Contribution Base CNBC California mortgage broker: The 2008 crisis was a 'scary time,' but it made the industry stronger Calculated Risk Blog BLS: CPI increased 0.2% in August, Core CPI increased 0.1% Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 204,000, Lowest Since 1969 Reuters Trade hopes, bumper Turkey rate hike feed the bulls CNBC Watch ECB's Draghi speak as central bank leaves rates unchanged CNBC Distrust, grit, relief, shock. What kids of the Great Recession think about money today consumerfinancemonitor.com Petition for certiorari filed by State National Bank of Big Spring raising constitutional challenge to CFPB

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