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 20, 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) MBS Commentary MBS Live Day Ahead: Long-Term Trend is a Cheap Trick. Here's The Reality For Rates One of the themes we often revisit in times of trouble is the long-term bull market in bonds.  This traces back to the 80's and provides a shockingly linear set of lower highs and lower lows in 10yr yields.  Most recently, we've seen yields... (read more) Housing News Existing Home Sales Level Out After Long Decline It was a disappointment, but at least it wasn't a loss. Existing home sales, which were expected to increase in August after four straight months of declines instead remained unchanged from July. In fact, almost the entire report on August's existing... (read more) Housing News August Loan Closing Rate Highest of Year The share of loans originated for refinancing rose in August for the first time this year. Ellie Mae's Origination Insight Report shows that closed transactions for refinancing represented 32 percent of the total, up 3 percentage points from July. Th... (read more) Rob Chrisman Vendor Mgt. and POS Products; Upcoming Events; Ask a Lender's Sunset? This Saturday is the autumn equinox – season-wise, we know what is on the way. “Rob, we, like everyone else, are watching the approaching winter, and higher rates, and wondering if there are ways to improve our financial picture without l... (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 6.78% +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 6.0 101.29 -0.11 GNMA 5.5 99.61 -0.17 GNMA 6.0 101.28 -0.04 Pricing as of: 7/23 1:13PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.868 +0.039 5 YR Treasury 3.926 +0.040 7 YR Treasury 4.140 +0.041 10 YR Treasury 4.385 +0.039 30 YR Treasury 4.953 +0.037 Pricing as of: 7/23 1:13PM EST Latest Video Could be the end of the cycle if Fed moves without the rest of the world, s... Existing home sales unchanged in August Jobless claims fall to lowest since 1969 Around the Web Reuters Wells Fargo to cut headcount by 5-10 percent in next 3 years Calculated Risk Blog CoreLogic: 2.2 million Homes still in negative equity at end of Q2 2018 Redfin More than One in Four Home-Sellers Dropped their Price Last Month Calculated Risk Blog Fed's Flow of Funds: Household Net Worth increased in Q2 consumerfinancemonitor.com The CFPB's Latest Credit Invisibility Report: What Should We Make of It? Bloomberg US Consumer Comfort Rises to New 17-Year High CNBC Existing home sales unchanged in August consumerfinancemonitor.com Federal Reserve Board approves final amendments to the liability provisions of Regulation CC CNBC Jay Powell reportedly ramps up meetings with lawmakers as he seeks to protect Fed's independence Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 201,000, Lowest Since 1969 builderonline.com Borrowers Lie to Get Approved CNBC DoubleLine's Gundlach warns US Treasury yields are headed higher Bloomberg Dollar Traders See the Fed's Next Rate Hike as a Big Sell Signal

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