Mortgage rates moved lower for the second straight day after rising moderately on Friday and Monday. This brings the average lender to the second lowest levels in almost exactly 1 year. The only day with lower rates was January 31st, 2019 (last Thursday). Yesterday was important in the sense that it helped make a case for a short-term ceiling in rates. All bets were off as to where we might see such a ceiling after a round of strong economic data on Friday (stronger data tends to push rates higher). Today is just as important as it confirms the resilience wasn't a fluke. Granted, things can change quickly when it comes to financial markets, but it's currently easiest to make a case for sideways momentum for the time being. This "wait and see" approach would ideally allow investors to digest

February 6, 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 6, 2019 Mortgage Rates Fall Back Toward Long-Term Lows Wed, Feb 6, 2019 2:47PM Mortgage rates moved lower for the second straight day after rising moderately on Friday and Monday. This brings the average lender to the second lowest levels in almost exactly 1 year. The only day with lower rates was January 31st, 2019 (last Thursday). Yesterday was important in the sense that it helped make a case for a short-term ceiling in rates. All bets were off as to where we might see such a ceiling after a round of strong economic data on Friday (stronger data tends to push rates higher). Today is just as important as it confirms the resilience wasn't a fluke. Granted, things can ch... (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 Recap: Bonds Side-Step Again, Despite Weaker Treasury Auction Wed, Feb 6, 2019 3:20PM If you're operating under the assumption that the prevailing momentum in bond markets is sideways for the time being, today offered few surprises.  In fact, it barely offered anything interesting at all. The only significant item on the c... (read more) MBS Live Day Ahead: As Treasuries Consolidate, MBS Have Been Outperforming Wed, Feb 6, 2019 9:14AM One of the best side effects of the recent consolidation has been the outperformance of MBS vs Treasuries.  We often talk about the fact that MBS like stability and predictability .  Conversely, they tend to underperform when the broader... (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 Aging-in-Place Trend Contributing to Tight Inventories Wed, Feb 6, 2019 12:03PM In their December Insight report Freddie Mac's economists estimated the country will fall short of its housing needs this year by about 2.5 million units. Yet at the same time, fewer members of the Millennial generation are buying houses than young people did in earlier periods. This month the Insights report examines the intersection of these facts, asking ... (read more) Banks Have Big Tech Breathing Down Necks, Competition Heats Up Wed, Feb 6, 2019 8:28AM We usually hear about Fannie Mae's National Housing Survey (NHS) in terms of whether respondents think it is a good time to buy or if they see the economy moving in the right or the wrong direction. But the third quarter survey looked at consumers' relationship with their banks and their comfort level with Big Tech's Tech (e.g., Google, Amazon, Apple, and Fa... (read more) Sales and Digital Products; Agency News; Comp Survey - Guarantees Still out There? Wed, Feb 6, 2019 9:03AM Fun with numbers! Here’s something interesting in the finance world: The number of public companies in the U.S. has decreased by almost 50% from 1996 to 2016 (7,322 to 3,671). What does that mean for investment dollars – is it all going into private equity? What if your career was entirely wrapped up in Initial Public Offerings (IPOs)? It isn&rsq... (read more) Latest Video Yellen: President has right to express his view Santelli Exchange: Investment and productivity growth The Fed, China and earnings are the biggest factors in the market, says exp... Around the Web CNBC Janet Yellen says global slowdown in places like China and Europe is a growing threat to US NAR - Realtor.com Seniors Are to Blame for Housing Shortage, Study Finds Redfin Sales of $2 Million-Plus Homes Decline for First Time in 2 Years as Prices Tick Up Calculated Risk Blog Las Vegas Real Estate in January: Sales Down 18% YoY, Inventory up 106% YoY NAHB Eye on Housing Permit Growth Flat in November CNBC Mnuchin says Fed Chief Powell gave Trump an overview of the economy at White House dinner Reuters U.S. trade deficit falls sharply in November CNBC US Treasury yields move lower as investors monitor Fed speeches, auctions CNBC Investors are buying stocks and bonds at the same time, which means something has to give Bloomberg U.S. Retail Sales Seen Slowing This Year as Economy Cools Off Bloomberg Fed's Kaplan Urges No Further Rate Action Until Outlook Clearer Calculated Risk Blog Update: The Endless Parade of Recession Calls NAR - Realtor.com Luxury House Flipping Is on the Rise, but Still Lower Than Before the Recession

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