Mortgage rates continued moving higher today as Fridays unfortunate series of events seems to have motivated a big bounce. What events are those? Namely, we're talking about several important economic reports including the big jobs report and the most closely-watched manufacturing report from ISM. These were joined by two other supporting actors (Consumer Sentiment and Factory Orders) to round out an entire morning of data that came in much stronger than expected. But wait... why is strong economic data a bad thing?! A fair question! After all, don't we like a strong economy? If by "we," you mean the average person on the street, then yes! If, on the other hand, you mean mortgage rates (or simply those who would prefer to see mortgage rates fall), then no... a stronger economy is the enemy

February 4, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Feb 4, 2019 Mortgage Rates Quickly Retreating After Hitting Long-Term Lows Mon, Feb 4, 2019 4:08PM Mortgage rates continued moving higher today as Fridays unfortunate series of events seems to have motivated a big bounce. What events are those? Namely, we're talking about several important economic reports including the big jobs report and the most closely-watched manufacturing report from ISM. These were joined by two other supporting actors (Consumer Sentiment and Factory Orders) to round out an entire morning of data that came in much stronger than expected. But wait... why is strong economic data a bad thing?! A fair question! After all, don't we like a strong economy? If by "we," you m... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.72 +0.05   95.05 99.96 UMBS 30YR 5.5 101.09 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Day Ahead: Paying The Price For Asymmetric Risk Mon, Feb 4, 2019 9:34AM Last week's key events were the Fed announcement on Wednesday and the jobs report on Friday (with other econ data playing a strong supporting role).  The Fed helped bonds.  They were much friendlier than expected, but critically, they justi... (read more) MBS Live Recap: Bond Market Not a Fan of Mondays--At Least Not This One Mon, Feb 4, 2019 4:30PM Chinese markets were closed overnight for New Year.  This slowed trade somewhat.  Coupled with a lack of significant economic data this morning, it also put more emphasis on the events from the previous trading day.  In this case, that previous day was Friday.  That's when a series of economic reports (including the mighty jobs ... (read more) MBS Price Change UMBS 4.5 97.76 +0.07 UMBS 5.0 99.72 +0.05 UMBS 5.5 101.09 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.94 +0.11 GNMA 5.5 100.93 +0.03 Pricing as of: 10/15 6:49PM EST US Treasury Yield Change 2 YR Treasury 3.500 +0.018 5 YR Treasury 3.620 +0.016 7 YR Treasury 3.805 +0.006 10 YR Treasury 4.029 +0.001 30 YR Treasury 4.626 -0.004 Pricing as of: 10/15 6:49PM EST Other News Lower Rates and Slower Price Gains to Help Affordability in 2019 Mon, Feb 4, 2019 3:23PM Although they covered the topic in last month's Mortgage Monitor , further declines in interest rates have prompted Black Knight to take another look at the impact on the refinance pool. The previous edition reported that the 30-basis point drop in the 30-year fixed rate mortgage from a post-recession peak in November to 4.55 percent by the end of December h... (read more) Is Student Loan Debt Driving Homeownership Lower? Mon, Feb 4, 2019 8:52AM It's widely known that homeownership rates are historically low and that they peaked at 69 percent in 2005. They began dropping a year or two later and had lost about 4 percentage points by 2014. They did not stabilize until 2016. The 2005-2014 drop was most dramatic among young adults. Three analysts from the Federal Reserve Board's Division of Research and... (read more) West Coast LO Jobs; New Broker Non-Agency Product; Economic News Keeping Rates Low Mon, Feb 4, 2019 9:04AM “All mushrooms are edible. Some are only edible once.” I am positive there are families in the U.S. that only buy or sell a house once in their life, and if that house sells above or below the asking price depends on a) how accurate the asking price was compared to the market, and b) the strength of the market. Zillow tells us that the share of h... (read more) Latest Video Fed: Many banks plan to tighten lending standards Former Fannie Mae CEO on the fate of Fannie and Freddie Santelli Exchange: The fed's econometric problem Around the Web NAR - Realtor.com The Average Adjustable-Rate Mortgage Is Nearly $700,000. Here's What That Tells Us. CNBC This start-up buys your home, rents it back to you and lets you profit if the value grows Bloomberg Zoning Reform Alone Won't Make Housing More Affordable CNBC This start-up buys your home, rents it back to you and lets you profit if the value grows Bloomberg The Fed 'Put' Applies to Both the Economy and Markets Calculated Risk Blog Update: Framing Lumber Prices Down Year-over-year CNBC US factory orders unexpectedly fall in November CNBC One-time bond king Bill Gross to retire from Janus Henderson CNBC Fed's Kashkari: Rate hike pause keeps US growth on track CNBC A 'baby bear' market scared the Fed into pausing and history shows that can lead to big comebacks NPR Heavy Student Loan Debt Forces Many Millennials To Delay Buying Homes Reuters Stock rally flags after strong U.S. data, bond yields rise Bloomberg Fannie-Freddie Would Go Private in Senate Republican's Plan

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