Yesterday, we talked about how mortgage rates were actually lower this week, despite some news coverage to the contrary, and how that discrepancy was the result of a logical misunderstanding. Today takes the discrepancy to another level as rates fell even farther. The average lender is very close to offering the lowest rates seen in over a year. In fact, if we're talking about the "note rate" (the actual interest rate applied to a mortgage balance), we're at the lows already. It's only when we consider the upfront costs that today's overall rate/fee scenarios aren't quite there yet. Let's not split hairs though: rates are effectively as good as they've been in a long time. There are multiple factors behind the friendly move and there are multiple landmines in the weeks ahead. These will be

March 8, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Played a Perfect Game This Week Yesterday, we talked about how mortgage rates were actually lower this week, despite some news coverage to the contrary, and how that discrepancy was the result of a logical misunderstanding. Today takes the discrepancy to another level as rates fell... (read more) Housing News Residential Construction Numbers Start 2019 with a Bang Permits rose in January, but the headline for the delayed residential construction report from the U.S. Census Bureau and the Department of Housing and Urban Development was the dynamite start to the New Year for housing starts and completion. Both m... (read more) MBS Commentary MBS Live Day Ahead: Crazy Low NFP, But Bonds Are Respecting The Range Truth is stranger than fiction sometimes.  In today's case, the fiction is the fairly logical story most traders would write in their minds.  That story starts with today's nonfarm payroll count coming in at 20k versus a forecast of 180k an... (read more) MBS Commentary MBS Live Recap: Bonds More Than Make Up For Last Week's Bumpy Ride From bumpy ride to smooth sailing: bonds gained more ground this week than they lost during last week's range-breaking sell-off.  I firmly believe that would not have been the case were it not for the key events of the past 2 days.  Yeste... (read more) Rob Chrisman Customer Service, Digital White Papers; How Specified Pool Pricing Helps Sellers Catsup or Ketchup? Language is fascinating. The mortgage biz is filled with acronyms, and the last time I counted there were over 850 commonly used abbreviations that are Greek to anyone outside of the biz. Okay, I just made that number up, but it is... (read more) Housing News Non-Urban Construction of Custom Homes May Need Support to Keep Up The National Association of Home Builders (NAHB) has taken a look at the differences between homes constructed within metropolitan statistical areas (MSAs) and those constructed outside of them. For starters, there are not many of the latter. As expl... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% 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 99.92 +0.08 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.05 +0.09 GNMA 6.0 101.46 +0.06 Pricing as of: 7/3 4:53AM EST 10 Year US Treasury 4.2553 -0.0245 Price / Yield Change US Treasury 2 YR Treasury 3.771 -0.017 5 YR Treasury 3.848 -0.019 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.260 -0.020 30 YR Treasury 4.786 -0.023 Pricing as of: 7/3 4:53AM EST Latest Video Why this expert isn't worried about the bad job number yet February payrolls rose by 20,000 jobs, falling short of estimates Jobs and housing Draghi's move was significant, took markets by surprise: Former Fed governo... Around the Web Reuters What stood out in the February U.S. jobs report Reuters Trump team has no plan to go to China for trade talks: official Bloomberg The Fed Versus the Narrow Bank NAR - Realtor.com It Costs Retirees $100,000 a Year to Live in These 4 Cities NAHB Eye on Housing Consumer Credit Increases in January 2019 NAHB Eye on Housing Despite Slow Quarter, Townhouse Construction Expanded in 2018 CNBC Are you a homeowner? Here's how much richer you are now Reuters Housing shares dependent on economy easing but not falling consumerfinancemonitor.com House Financial Services Committee hearing on CFPB highlights continuing partisan divide CNBC 10 cities where mortgage payments are cheaper than rent Calculated Risk Blog Housing Starts Increased to 1.230 Million Annual Rate in January Calculated Risk Blog Comments on February Employment Report CNBC Job creation grinds to a near-halt in February; wages still on the rise

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