Mortgage rates jumped a bit today, as lenders got caught up with the bond market movements from last Friday. It's fair to wonder why they wouldn't have done this yesterday. The reason has to do with the timing of market movement and the threshold for lenders to make mid-day rate sheet changes. If bond markets move enough during the day, mortgage lenders will make mid-day changes. If the movement happens late enough or isn't clearly past the typical threshold, lenders will wait for the following business day to make the adjustments. The latter was the case on Friday and the "following business day" was Tuesday/yesterday due to the MLK holiday. But bond markets gained some ground yesterday--enough to keep rates relatively unchanged. Fast forward to this morning and bonds were back to the levels

January 23, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 23, 2019 Mortgage Rates Up to New Highs For 2019 Wed, Jan 23, 2019 3:06PM Mortgage rates jumped a bit today, as lenders got caught up with the bond market movements from last Friday. It's fair to wonder why they wouldn't have done this yesterday. The reason has to do with the timing of market movement and the threshold for lenders to make mid-day rate sheet changes. If bond markets move enough during the day, mortgage lenders will make mid-day changes. If the movement happens late enough or isn't clearly past the typical threshold, lenders will wait for the following business day to make the adjustments. The latter was the case on Friday and the "following business ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Recap: Volatility Inside a Range; Still Waiting For "Something" Wed, Jan 23, 2019 3:29PM There are several "somethings" that could prove inspirational for bond markets at the moment.  The biggest among those continues to be any major shift in the stock market.  Specifically, if stocks move to threaten recent lows or challenge Oct/Nov highs, bonds would almost certainly be forced to follow.  If stocks remain indecisive, bonds c... (read more) MBS Live Day Ahead: Unfriendly Trends in Stocks and Bonds, But For How Long? Wed, Jan 23, 2019 9:01AM Bond yields and stock prices are beginning the day in moderately higher territory than yesterday.  This keeps a negative trend intact for bonds (both in terms of the higher bond yields themselves as well as the higher stock prices that have gone... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 6:59AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.060 +0.021 30 YR Treasury 4.718 +0.028 Pricing as of: 9/9 6:59AM EST Other News Prolonged Shutdown Could be Trouble for Housing Wed, Jan 23, 2019 8:27AM Fannie Mae does not expect a lasting impact from the current partial government shutdown, at least if it is over soon. In its January Economic Developments report, the company's Economic and Strategic Research (ESR) Macroeconomic Forecast Team again predicts a slowing in economic growth, down from the estimated pace of 3.1 percent in 2018 to 2.2 percent this... (read more) FHFA Home Prices See No Slowdown Wed, Jan 23, 2019 10:56AM The Federal Housing Finance Agency (FHFA) said its November Housing Price Index recorded an 0.4 percent gain compared to October. The October increase, previously reported at 0.3 percent, was revised to 0.4 percent as well. FHFA numbers, which are calculated from sales price information for homes financed with mortgages sold to or guaranteed by the GSEs Fann... (read more) Sales Products and Webinars; Freedom Joins FHA/VA Pricing Competition Wed, Jan 23, 2019 10:03AM The wholesale pricing wars continue, the latest salvo from Freedom Mortgage in the FHA & VA stadium (see below). Fans of FHA lending, who tend to bristle at the suggestion that the program is “subprime redux,” pay careful attention to what is going on in Washington with Freddie and Fannie. Last week House Financial Services Committee Chair Ma... 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