Mortgage rates were flat yesterday , but I warned that volatility could increase today. That turned out to be an understatement. Mortgage rates shot higher nearly as quickly as they'd moved lower last week. In fact, the average lender is offering rates that are back in line with the recent highs seen last Monday. As far as rate movement goes, today's jump in rates is a bigger deal than last week's improvement because it takes us back to the highest levels since early August. That's when the year's most abrupt drop began. Shortly thereafter, I added the first bullet point in the list of lock/float considerations below. Simply put, the rate rally was getting so big and had stuck around for long enough that we were increasingly forced to worry about it fizzling out. Bottom line: rates like today

November 6, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Shoot Significantly Higher Mortgage rates were flat yesterday , but I warned that volatility could increase today. That turned out to be an understatement. Mortgage rates shot higher nearly as quickly as they'd moved lower last week. In fact, the average lender is offering rat... (read more) MBS Commentary MBS Live Day Ahead: Yesterday's Weakness Expands the Range Yesterday was a big, bad day for the bond market with the hotly-anticipated ISM Non-Manufacturing data coming in much stronger than expected.  Bonds confirmed their focus on the econ data with heavy volume and heavy selling.  Yields ultimat... (read more) Housing News Fewer Homeowners Carry Housing Cost Burdens than Pre-Recession It may come as a surprise to some, but the Census Bureau says the housing cost burden for homeowners has been getting lighter. The Bureau's American Community Survey (ACS) found fewer households are carry excessive costs than before the recession, ho... (read more) Housing News Mortgage Apps Hit Their Seasonal Slump, YOY Numbers Tell a Different Story Mortgage activity was little changed during the week ended November 1 as interest rates continued to bounce around. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 0.1 p... (read more) Rob Chrisman Warehouse, Tech Integration Tools; Ginnie Booming, Trade Status Primer Besides sudden news, like PennyMac filing an antitrust lawsuit against Black Knight for anticompetitive behavior (“…market-dominating LoanSphere® MSP mortgage loan servicing system to engage in unfair business tactics that both entra... (read more) Housing News Freddie's Forecast; Short and Sort of Sweet Freddie Mac's end-of-the-month forecast for October was exceptionally brief, perhaps in recognition that it has all been said before. The economy is strong but slowing, the labor market is tight and so is the housing inventory. Instead, Freddie's Eco... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% 0.00 0.00 15 Yr. Fixed 5.91% 0.00 0.00 30 Yr. FHA 6.19% -0.01 0.00 30 Yr. Jumbo 6.80% 0.00 0.00 7/6 SOFR ARM 6.29% -0.04 0.00 30 Yr. VA 6.20% -0.02 0.00 Updates Daily - Last Update: 7/1 15 Yr. Fixed Rate 5.91% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 -0.01 Price / Yield Change MBS UMBS 5.5 99.92 -0.01 UMBS 6.0 101.58 +0.00 GNMA 5.5 100.07 +0.01 GNMA 6.0 101.43 +0.03 Pricing as of: 7/1 10:19PM EST 10 Year US Treasury 4.2446 +0.0054 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.006 5 YR Treasury 3.832 -0.007 7 YR Treasury 4.017 +0.004 10 YR Treasury 4.242 +0.003 30 YR Treasury 4.767 -0.001 Pricing as of: 7/1 10:19PM EST Latest Video Third-quarter productivity decreased 0.3%, missing expectations to increase... Third quarter likely a bottom for earnings: BNY Mellon's Liz Young Sonders of Charles Schwab: Trade is both upside and downside risk October ISM non-manufacturing beats expectations, 54.7 vs 53.5 Around the Web Calculated Risk Blog First Look: 2020 Housing Forecasts NAR - Realtor.com Fewer Homeowners Are Burdened by Housing Costsbut There's a Big Catch CNBC Here are your new income tax brackets for 2020 Bloomberg Treasuries' Top Trade at Risk as Long-Dated Yields Take Flight - Bloomberg Reuters Exclusive: U.S.-China trade deal signing could be delayed until December: U.S. source Reuters Fed's Evans: U.S. economy in 'good place,' but watching inflation Reuters Explainer: Central bank digital currencies - edging toward reality? Calculated Risk Blog Las Vegas Real Estate in October: Sales up 7% YoY, Inventory up 6% YoY builderonline.com Dallas Homebuyers Moving in From L.A. ir.pennymacfinancial.com PennyMac Financial Services Files Antitrust Lawsuit Against Black Knight for Anticompetitive Behavior Bloomberg Robert Kaplan Says Steeper Yield Curve a Sign Fed Rates Now Appropriate - Bloomberg CNBC Interest rates suddenly entered a new phase and they are moving higher thanks to possible trade deal NAHB Eye on Housing Construction Job Openings Continue Year-over-Year Gains

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