Mortgage rates may be close to their lowest levels in more than a year, but they were slightly higher versus yesterday. Yesterday's rates were close enough to 1-year lows that no one would take exception with the claim. That said, rates on January 31st were slightly lower for most lenders. Why all the fuss? No fuss , per se. It's just that many mainstream news outlets are running stories today about the "lowest rates in more than a year" due to Freddie Mac's weekly mortgage rates survey. Indeed, if we're just comparing the Monday/Tuesday 30yr fixed rate averages (which is essentially what Freddie's survey does), this week definitely qualifies as having the lowest rates in a year. As is always the case with delayed data, by the time you read about it, the story has often changed. None of the

February 21, 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 Feb 21, 2019 Mortgage Rates Slightly Higher Today Thu, Feb 21, 2019 4:03PM Mortgage rates may be close to their lowest levels in more than a year, but they were slightly higher versus yesterday. Yesterday's rates were close enough to 1-year lows that no one would take exception with the claim. That said, rates on January 31st were slightly lower for most lenders. Why all the fuss? No fuss , per se. It's just that many mainstream news outlets are running stories today about the "lowest rates in more than a year" due to Freddie Mac's weekly mortgage rates survey. Indeed, if we're just comparing the Monday/Tuesday 30yr fixed rate averages (which is essentially what Fred... (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 Day Ahead: How The Range Expands Thu, Feb 21, 2019 8:29AM If you're just joining us, we've been talking quite a bit in recent weeks about a consolidation range/trend in the bond market.  This refers to a series of higher lows and lower highs resulting in a narrowing trading range--one that eventually r... (read more) MBS Live Recap: Delayed Reaction to Fed Hurts Stocks and Bonds Thu, Feb 21, 2019 4:48PM Although today brought the week's most anticipated line-up of economic data as well as overnight headlines on US/China trade agreements, the biggest market mover was yesterday's Fed Minutes.  At the time, I expressed confusion as to why financial markets weren't doing more to react to the Fed's most surprising update where it basically said January wa... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.47 -0.07 GNMA 5.0 100.01 -0.06 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:38AM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.016 5 YR Treasury 3.581 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.065 +0.026 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 6:38AM EST Other News NAR: Home Sales "Likely to Have Reached a Cyclical Low" Thu, Feb 21, 2019 11:29AM Existing home sales fell again in January although the decline was a minor one compared to the 6.4 percent drop in December. The National Association of Realtors® (NAR) said sales of single-family homes, townhomes, condominiums and co-ops ticked down 1.2 percent from December's annual rate of 4.99 million to a seasonally adjusted annual rate of 4.94 mill... (read more) Closing Rate, Refinance Share Rose in January Thu, Feb 21, 2019 10:05AM A 16-basis point drop to 5.01 percent in the average rate for 30-year fixed-rate mortgages was given only partial credit for a sizable uptick in the refinancing share of originations in January. Ellie Mae's Origination Insight Report for the month shows the refinancing share of originations jumped to 35 percent from 29 percent in December. The share of FHA l... (read more) Mobile App Product; TIAA/US Bank Deal; FHA, VA, Ginnie News Thu, Feb 21, 2019 8:58AM “Writing about music is like dancing about architecture.” A clever quote about differences which reminded me that there are differences between the national debt and the budget deficit. Beginning in 2022, U.S. annual budget deficits are on track to top $1 trillion, but some economists say that isn’t really a problem as long as the economic ... (read more) Latest Video Fed's pivot should cushion slowing growth, says chief economist Global interest rates are falling, and Medley Global Advisors says that's b... Existing home sales, leading economic indicators miss expectations Around the Web CNBC Closely watched Atlanta Fed GDP model now sees growth at just 1.4 percent for fourth quarter NAR - Realtor.com Will Another Downturn Rock the Housing Market? Reuters Not there yet but closer: Britain and EU haggle over Brexit compromise Reuters Weak U.S. data underscore growing headwinds to economy Calculated Risk Blog Comments on January Existing Home Sales Bloomberg China Offers to Buy $30 Billion More U.S. Agricultural Imports a Year NAHB Eye on Housing Multifamily Builder and Developer Confidence Weakens Slightly in Fourth Quarter Calculated Risk Blog Philly Fed Mfg "Weakened" in February Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 216,000 CNBC Consumer debt hits $4 trillion a record high Redfin How Many Trees Can Be Saved With Fully Digital Home Closings? CNBC Personal loans surge to a record $138 billion in US as fintechs lead new lending charge CNBC Fed's Bullard: Rate hikes, balance sheet reduction 'coming to an end'

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