Daily Newsletter: Wednesday April 10, 2019

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April 10, 2019

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Compare Mortgage Rates from Local Lenders for Apr 10, 2019

Lowest Mortgage Rates in April

Wed, Apr 10, 2019 4:33PM

Mortgage rates dropped today. It wasn't a huge move, but they didn't have to go very far to get to the best levels of the month. To be fair, many prospective borrowers are still seeing the same interest rate at the top of a loan quote that they would have seen any time in the past 2 weeks. In those cases, it would simply be the upfront costs that moved down. As for the motivation for the move, underlying bond markets had a good day thanks to an economically downbeat press conference from the European Central Bank (ECB) and weaker-than-expected inflation data in the US. The ECB doesn't dictate ... (read more)

Mortgage News Daily	Rate	Change	Points
30 Yr. Fixed	6.25%	-0.04	0.00
15 Yr. Fixed	5.71%	-0.01	0.00
30 Yr. FHA	5.99%	-0.01	0.00
30 Yr. Jumbo	6.25%	0.00	0.00
7/6 SOFR ARM	5.64%	-0.01	0.00
30 Yr. VA	6.01%	0.00	0.00
Updates Daily - Last Update: 9/15

Freddie Mac	Rate	Change	Points
30 Yr. Fixed	6.35%	-0.15	0.00
15 Yr. Fixed	5.50%	-0.10	0.00
Updates Weekly - Last Update: 9/11

Mortgage Bankers Assoc.
30 Yr. Fixed	6.49%	-0.15	0.56
15 Yr. Fixed	5.70%	-0.14	0.55
30 Yr. Jumbo	6.44%	-0.14	0.48
Updates Weekly - Last Update: 9/10

MBS Live Day Ahead: Bonds Plead Bullish Case as Fed Takes The Stand

Wed, Apr 10, 2019 10:02AM

Wednesday is off to a good start with friendly inflation data leading things off at 8:30am and an even friendlier press conference from European Central Bank (ECB) president Mario Draghi. The ECB didn't make any policy changes, but Draghi's ton... (read more)

MBS Live Recap: Mixed Performance as MBS Slide While Treasuries Improve

Tue, Apr 9, 2019 5:29PM

Treasuries were stronger today while MBS were mostly weaker. These days can happen, and they're all the more likely when a few key variables are present. Among those variables are Treasury auctions, big geopolitical risks, and the monthly MBS settlement process. Incidentally, all three of those are in play right now, but we're looking mostl... (read more)

MBS	Price	Change
UMBS 5.0	100.05	+0.13
UMBS 5.5	101.35	+0.05
UMBS 6.0	102.49	+0.03
GNMA 5.0	100.38	+0.13
GNMA 5.5	101.30	+0.08
GNMA 6.0	102.05	+0.07
Pricing as of: 9/16 11:14AM EST

US Treasury	Yield	Change
2 YR Treasury	3.513	-0.024
5 YR Treasury	3.586	-0.014
7 YR Treasury	3.774	-0.018
10 YR Treasury	4.031	-0.010
30 YR Treasury	4.658	-0.002
Pricing as of: 9/16 11:14AM EST

Other News

Higher Rates Hit Mortgage Apps After Last Week's Epic Run

Wed, Apr 10, 2019 8:18AM

The rally in mortgage application volume that sent several of the Mortgage Bankers Association's (MBA's) metrics to recent highs at the end of March faded last week as interest rates reversed course. The unexpected boom in refinancing ratcheted down, and purchase applications returned to more modest gains. MBA said its Market Composite Index, a measure of lo... (read more)

Builder Applications Hint at Strong Spring New Home Sales

Wed, Apr 10, 2019 8:29AM

Applications for financing new home purchases were up significantly in March. The Mortgage Bankers Association (MBA) reports that Builder Application Survey (BAS) data for the month shows a 7 percent increase in those applications compared to March 2018 and a 19 percent gain over February . The application data is not adjusted for seasonal variations. "With ... (read more)

Broker, Automation, and Coaching Products; Asset Sale; Today's Market Movers

Wed, Apr 10, 2019 8:56AM

“My 8-year-old daughter can already read at a 5th grade level and ignore me at a 12th grade level.” Talking about young ‘uns, who needs great grades when… The house belonging to Peter Brand, Harvard’s fencing coach, appraised at $549,300. Two years ago, however, the house was sold to a wealthy businessman (with a son in high sc... (read more)

Latest Video

January new home sales drop nearly 7%

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UK parliament votes on options to delay Brexit

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Around the Web

Reuters

U.S. government posts $147 billion deficit in March

CNBC

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Federal Reserve

Minutes of the Federal Open Market Committee, March 19-20, 2019

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Mnuchin says he doesn't believe Fed Chief Powell is the 'wrong person' despite Trump criticism

CNBC

Millions in central US brace for 'life-threatening' blizzards, potential floods

CNBC

1 in 5 homeowners is making this costly mistake and it could ruin their finances

Calculated Risk Blog

Key Measures Show Inflation about the same in March as in February on a YoY basis

consumerfinancemonitor.com

SCOTUS hears oral argument in case involving court deference to agency interpretations

Reuters

Germany, France back shorter Brexit delay ahead of EU summit: document

NAHB Eye on Housing

Government Issues New Definitions for Metropolitan Statistical Areas

Reuters

U.S. consumer prices post biggest increase in 14 months

CNBC

Treasury yields edge lower ahead of Fed minutes

Bloomberg

Fed Is Likely Unswayed by Clamor for Rate Cuts: Minutes Preview

Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.

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