Mortgage rates held their ground today, keeping them in line with long-term lows achieved over the past 2 weeks. To be fair, it was the previous week that offered the biggest benefits, but last week was no slouch. Factoring out the first few days of January, it would have been the best week for mortgage rates since April 2018. It was a relatively quiet day for financial markets with the bonds that underlie mortgage rates trading in mostly the same territory as last week. It remains to be seen how markets will react to the absence of the typical spread of economic data (much of which is on hold due to the government shutdown ). Beyond that, the shutdown could certainly begin to have an effect on the economy itself although it's hard to say how big of an effect that would be. With this now being

January 14, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Unchanged to Start the Week Mortgage rates held their ground today, keeping them in line with long-term lows achieved over the past 2 weeks. To be fair, it was the previous week that offered the biggest benefits, but last week was no slouch. Factoring out the first few days of ... (read more) Housing News MBA Revives Income Verification During Govt Shutdown At least one part of the shutdown is over as the Internal Revenue Service (IRS) announced it has resumed its Income Verification Express Service (IVES.) The service, which provides tax transcripts essential for processing mortgage applications for no... (read more) MBS Commentary MBS Live Week Ahead: Record-Breaking Shutdown and Data Darkness The government shutdown is now the longest ever, and there are a variety of interesting implications.  The first is that multiple economic reports will not be released as scheduled.  The notable examples in the current week include Retail ... (read more) Rob Chrisman Secondary Marketing; Digital and Property Inspection Products; Radian's RADAR Rate Product My cat Myrtle has never flown coach. She doesn’t have the same complaint I have of airline workers who don’t seem to realize that “full” means full. For some reason they’ve created “completely full,” “e... (read more) MBS Commentary MBS Live Recap: Bonds Stay in Solid Shape Despite Morning Weakness The overnight trading session was thinly-traded due to a holiday closure in Tokyo.  Buyers outnumbered sellers until the domestic session.  Promptly after the 820am CME Open, sellers showed up in US Treasuries.  Bond market weakness ra... (read more) MBS Commentary MBS Live Recap: No New Inflation, But Indecision Remains Core CPI came in at 2.2% today. Back in 2016, this was cause for concern, but now bond markets trade like inflation isn't even a remote concern.  What's up with this?  If 2% is the Fed's target and we're at 2.2% currently, isn't that bad fo... (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 -0.02 Price / Yield Change MBS UMBS 5.5 99.37 +0.00 UMBS 6.0 101.30 -0.02 GNMA 5.5 99.64 +0.01 GNMA 6.0 101.27 +0.00 Pricing as of: 7/23 11:02PM EST 10 Year US Treasury 4.3892 +0.0055 Price / Yield Change US Treasury 2 YR Treasury 3.882 +0.004 5 YR Treasury 3.933 +0.004 7 YR Treasury 4.142 -0.002 10 YR Treasury 4.382 -0.001 30 YR Treasury 4.937 -0.003 Pricing as of: 7/23 11:02PM EST Latest Video Yellen: We may have seen the last interest rate hike of this cycle Government shutdown could extend into February, says expert Here's why this strategist says inflation will not increase Around the Web CNBC Clarida reinforces Fed's mantra of US policy patience NAR - Realtor.com IRS Reopens Key Program for Mortgage Loans Calculated Risk Blog Fed: Q3 2018 Household Debt Service Ratio at Series Low CNBC Gundlach's warning on 'ocean of debt' adds to worries over corporate bonds CNBC Janet Yellen says it's 'very possible' the Fed has made its last rate hike of this cycle CNBC Economic uncertainty has prompted some retailers to put plans on hold, Yellen says Calculated Risk Blog Housing Inventory Tracking CNBC The 10-year yield just entered a death cross, and that could be a breaking point for bond market Reuters Fintech firms want to shake up banking, and that worries the Fed Reuters U.S. government shutdown may depress January job growth Calculated Risk Blog Update on Shutdown impact on January Employment Report; Congress Approves Back Pay for Furloughed Employees Bloomberg It's Definitely Risk On': Rush to Bond Market Begins in U.S. Calculated Risk Blog Q4 GDP Forecasts: Mid-to-High 2s, Estimate of Shutdown Impact on GDP

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