Mortgage rates fell modestly again today. Over the past 2 days, we've managed to undo more than a week of damage, with rates back at their best levels since September 17th. That may sound a bit more exciting than it actually is, however. Many prospective borrowers would still be quoted the same rate over the past 3 days with the improvements limited to the 'upfront cost' side of the mortgage cost equation. All of the above runs counter to many of the mortgage rate headlines floating around the web and airwaves today. The average headline suggests rates are as high as they've been in 7.5 years, followed by some iteration of 'all hope is lost.' OK, so perhaps not every headline put it so dramatically, but you get the idea. Why are the majority of headlines telling you one thing while I'm telling

September 27, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Lowest in More Than a Week Mortgage rates fell modestly again today. Over the past 2 days, we've managed to undo more than a week of damage, with rates back at their best levels since September 17th. That may sound a bit more exciting than it actually is, however. Many prospec... (read more) Housing News Housing Sentiment Lukewarm, Leads to Dismal Sales - Again The leading indicator for existing home sales continued to struggle in August and for the fourth time in the last five months purchase contract executions fell back from those in the previous month. The National Association of Realtors® (NAR) sai... (read more) MBS Commentary MBS Live Day Ahead: Bonds Have a Chance, But Victory Far From Guaranteed Yesterday's Fed announcement--specifically, Fed Chair Powell's press conference remarks--set bonds up for a potential bounce.  This would come at a critical time considering the prevailing trend for September has/had 10yr yields on a collision... (read more) Rob Chrisman Insurance, Non-QM, Underwriting Products; Bank M&A Takes Off Goldman Sachs telling us it expects four more short-term rate increases by the Fed in 2019, and it doesn’t make money by being wrong. Is your company ready for that? STRATMOR discusses “operational reviews” below – worth a gan... (read more) Housing News IRS Slams Door on Property Tax Workarounds One of the more contentious provisions of the 2017 Tax Cuts and Jobs Act (TCJA) was a new ceiling on the SALT deduction. This is the amount taxpayers can deduct on federal tax returns for what is paid in state and local taxes including income, sales,... (read more) MBS Commentary MBS Live Recap: We've Been Here Before But This Time's Different In the past week, we've seen 10yr yields rise up and over 3.06%, flirt with 3.10%+ and come back down.  This has happened only one other time since rates set all-time lows in 2012 and 2016, and that was in May of this year.  Granted, rate... (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 99.38 -0.13 UMBS 6.0 101.28 -0.11 GNMA 5.5 99.60 -0.17 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 1:16PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.872 +0.042 5 YR Treasury 3.927 +0.042 7 YR Treasury 4.142 +0.044 10 YR Treasury 4.387 +0.041 30 YR Treasury 4.955 +0.039 Pricing as of: 7/23 1:16PM EST Latest Video Santelli Exchange: Rate hikes and recessions Santelli Exchange: Double top or pause? Pending home sales index down 1.8 percent in August Around the Web CNBC Bay Area home sales tank 10 percent in August to the slowest pace in 7 years Reuters Fed chief Powell signals central bank is done with signaling Freddie Mac Testimony Before the House Financial Services Committee Brookings Institution The Renters Strike Back Bloomberg Whetton: More US Rate Hikes Are Coming Brookings Institution Hutchins Roundup: Local Market Concentration, Consumer Responses to Tax Refunds, and More Calculated Risk Blog December 2006: Tanta joined CR! CNBC Final reading on Q2 GDP confirms 4.2% gain, the fastest rise in nearly four years CNBC New orders for key US-made capital goods unexpectedly dropped in August blog.stewart.com Forecasts: Residential Refinance & Purchase Lending, 30-Year Conventional Mortgage Rates, Home Sales September 2018 Reuters World shares lack momentum, U.S. bond yields fall as Fed sticks to script Bloomberg Curve Flattening Returns With Gusto as Fed Pledges More Hikes CNBC Fed sounds less aggressive than expected and less confident in long-term growth

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