Mortgage rates finally moved a bit higher today after avoiding such things for nearly 2 full weeks. The losses were mild today, but nonetheless take the average lender back in line with rates from November 15th. This is more of a commentary on the narrowness of the recent range than the scope of today's weakness. Mortgage lenders will be closed on Thursday for the Thanksgiving holiday and some will be closed on Friday as well. From a rate standpoint, the market forces that underpin rate movement are severely impacted by the holiday. There is no reliable way to know if the impact will be positive or negative, simply that a decrease in the staffing levels and an increase in distraction/absences among market participants can result in some fairly random movement for rates. The takeaway is that

November 25, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.81% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Nov 25, 2019 Mortgage Rates Higher to Start Holiday Week Mon, Nov 25, 2019 4:08PM Mortgage rates finally moved a bit higher today after avoiding such things for nearly 2 full weeks. The losses were mild today, but nonetheless take the average lender back in line with rates from November 15th. This is more of a commentary on the narrowness of the recent range than the scope of today's weakness. Mortgage lenders will be closed on Thursday for the Thanksgiving holiday and some will be closed on Friday as well. From a rate standpoint, the market forces that underpin rate movement are severely impacted by the holiday. There is no reliable way to know if the impact will be positi... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.05 0.00 15 Yr. Fixed 5.81% -0.04 0.00 30 Yr. FHA 6.01% -0.04 0.00 30 Yr. Jumbo 6.30% 0.00 0.00 7/6 SOFR ARM 5.89% -0.06 0.00 30 Yr. VA 6.03% -0.04 0.00 Updates Daily - Last Update: 10/31 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.54 -0.03   95.05 100.11 UMBS 30YR 5.5 101.03 -0.02   97.47 101.40 10 YR Treasury 4.085 +0.009   3.932 4.780 MBS Live Recap: Uneventful Start to Short Week; New Loan Limits Tomorrow? Mon, Nov 25, 2019 4:28PM Attempting to competently perform bond market analysis on Thanksgiving week is a dangerous game.  It will either drive a person insane(r), or simply lead to great frustration.  So I'm taking a break from past routines in favor of conducting my least favorite form of analysis: objective play by play. Actually objective play by play is always a par... (read more) MBS Price Change UMBS 4.5 97.49 -0.07 UMBS 5.0 99.53 -0.03 UMBS 5.5 101.03 -0.03 GNMA 4.5 97.61 -0.04 GNMA 5.0 99.67 -0.06 GNMA 5.5 100.80 -0.02 Pricing as of: 11/3 8:04AM EST US Treasury Yield Change 2 YR Treasury 3.582 +0.008 5 YR Treasury 3.696 +0.013 7 YR Treasury 3.882 +0.009 10 YR Treasury 4.087 +0.012 30 YR Treasury 4.667 +0.014 Pricing as of: 11/3 8:04AM EST Other News Loan Data Shows Making Mortgage Payments got Easier in October Mon, Nov 25, 2019 1:04PM Mortgage prepayments continued unabated in October, even though interest rates rose during the month. In its "first look" at October loan performance data, Black Knight said the single month mortality rate (SMM) climbed another 16 percent during the month to hit the highest level since May 2013. The rate, 1.81 percent, is 134 percent higher than the SMS in O... (read more) Move Over Millennials, Gen Z is Ready for Homeownership Fri, Nov 22, 2019 11:44AM Apparently it is time to shift our total attention from the Millennial generation. A new survey from Freddie Mac introduces the housing hopes and dreams of its successor - Generation Z. This group, defined as those Americans who are now aged 14 to 33, is smaller than the massive cohort that preceded them, partially because the generation is defined narrowly ... (read more) Mortgage Companies Score Highest Profits in Seven Years Fri, Nov 22, 2019 8:06AM Lower interest rates translated to higher volume in the third quarter of the year, giving mortgage companies their highest profits in seven years. The Mortgage Bankers Association's (MBA's) Mortgage Bankers Performance Report says that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,924 on each loan they orig... (read more) LO, AE Jobs; Non-QM Products; Customer Experience Trends Mon, Nov 25, 2019 1:14PM An LO from Wyoming recently reminded me that, “At the end of the day we sell a product driven by rates.” And we may be at, or near, these rates for a while, so I hope you’re happy with them (and have great service and solid products to back them up). Federal Reserve Bank of New York President John Williams recently said that the central ban... 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