Mortgage rates are in bad shape . At some point in the past 3 days (depends on the lender), top tier 30yr fixed rate offerings hit their highest level in 5 years, then 7 years. For the first time since 2011, the most prevalent top tier rate is 4.875% (meaning a handful of lenders are at 4.75% or 5.0%). If this trajectory holds, the average lender would be at 5% next week. In order to make the past few days relevant for anyone who reads this, let's focus on the CHANGE between today's average rates and those seen less than a week ago. From Friday the 14th, the average 30yr fixed quote is an eighth of a percentage point higher (.125%). While we've seen moves that big in the past, with only 1 or 2 exceptions, we haven't seen anything like it in 2018. And when we consider that it takes rates to

September 19, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Knocking on 5% Ceiling Mortgage rates are in bad shape . At some point in the past 3 days (depends on the lender), top tier 30yr fixed rate offerings hit their highest level in 5 years, then 7 years. For the first time since 2011, the most prevalent top tier rate is 4.875%... (read more) Rob Chrisman LO Jobs and Resources; Direct Streaming Treasury Trading; What's Moving Rates? I received this question from a well-known lender in Texas. “Rob, our company views loan processors as the unsung heroes of lending. We’re evaluating how ours are paid. Any thoughts?” The STRATMOR Group does quite an industry survey... (read more) Housing News Home Starts Improve, but There's a Catch Both permits and starts were expected to pick up in August, at least holding on to their slight gains in July. Housing starts did deliver, posting a strong increase, but permits, a leading indicator, were down sharply. The U.S. Census Bureau and Depa... (read more) Housing News Mortgage Apps Gaining Ground Despite Higher Rates Labor Day typically marks the end of summer and the resumption of business as usual. Hopefully it also marked the beginning of a turnaround for mortgage applications, which increased across the board for the first time since mid-June. The Mortgage Ba... (read more) MBS Commentary MBS Live Recap: Bonds Tank as 2018 Fears Become Real Again Remember early 2018 when the fear was compounded by this list of bad actors? increased Treasury issuance to pay for the revenue shortfall in the new tax bill the upside economic/inflation potential created by the new tax bill A Federal Rese... (read more) MBS Commentary MBS Live Recap: Is It Over? The titular question could be taken two ways . Is the selling pressure in bonds over? Is the "low rate environment" that's been in effect since mid-2011 over?  The answers, in order are "probably not" and "for now." To be fair to th... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 +0.07 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.06 +0.09 GNMA 6.0 101.47 +0.06 Pricing as of: 7/3 5:07AM EST 10 Year US Treasury 4.2592 -0.0206 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.018 5 YR Treasury 3.847 -0.020 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.259 -0.021 30 YR Treasury 4.786 -0.022 Pricing as of: 7/3 5:07AM EST Latest Video Futures Now: 10-Year yield tops 3 percent Federal government's Florence response has been strong, says former FEMA of... Chinese premier speaks at World Economic Forum Around the Web Calculated Risk Blog Nine Years Ago: Fast or Sluggish Recovery? Bloomberg Treasury Yields Take Flight, Setting Up Big Shorts for Rewards Bloomberg Gundlach Is Right. Surging US Bond Yields Are Met With Shrugs CNBC This type of loan doesn't help your credit score, even if you stay on top of it Calculated Risk Blog AIA: "August architecture firm billings rebound" CNBC The 'Great Bull' market is 'dead,' and here's what's next, Bank of America Merrill Lynch predicts Brookings Institution Ten years after the financial crisis: Reflections by Bernanke, Geithner and Paulson CNBC Booking a vacation to Bermuda vs. a new kitchen: Here's how some people misuse their home equity Calculated Risk Blog Comments on August Housing Starts CNBC Low-income Americans get double squeeze from poor credit and high fees CNBC The Fed has some big decisions to make starting next week Bloomberg Cash-Strapped Americans Are Leveraging Their Homes to Pay the Bills Bloomberg Draghi Urges New Euro-Zone Fiscal Tool to Keep Economy Stable

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