Mortgage rates continued higher for the 5th day in a row today. This brings the average lender to the highest levels in exactly one month. At issue: a series of stronger economic reports at home and abroad have eased concerns about global growth. Not only is a strong economy associated with higher rates in general, but those "concerns" were a big part of the Federal Reserve's decision to be more bond-friendly back in March. With concerns arguably lessened by recent data, investors may be assuming the Fed won't be quite as bond friendly going forward. All that having been said, the Fed is NOT likely to make any big changes after one solid month of global economic data. The most immediate cause for pressure toward higher rates came overnight in the form of Chinese economic data. Along with Europe

April 17, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Apr 17, 2019 Mortgage Rates Quickly Find Themselves at 1 Month Highs Wed, Apr 17, 2019 3:54PM Mortgage rates continued higher for the 5th day in a row today. This brings the average lender to the highest levels in exactly one month. At issue: a series of stronger economic reports at home and abroad have eased concerns about global growth. Not only is a strong economy associated with higher rates in general, but those "concerns" were a big part of the Federal Reserve's decision to be more bond-friendly back in March. With concerns arguably lessened by recent data, investors may be assuming the Fed won't be quite as bond friendly going forward. All that having been said, the Fed is NOT l... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 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 UMBS 30YR 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Day Ahead: Bonds Successfully Predict Chinese Rebound Wed, Apr 17, 2019 9:06AM Over the years, there have been more times than I can count where the financial media has mistakenly assigned some significance to news or events in China.  The past week has had its moments in that regard, but this time around, the Chinese econ... (read more) MBS Live Recap: Bonds Keep losing Ground. Defensive Positioning or Something Worse? Tue, Apr 16, 2019 5:11PM Rates were flat to start the overnight session and didn't bat an eyelash at initial strength in equities markets during Asia-only trading hours.  Things changes when European trading got underway with the sizable jump in the DAX (German stocks) coinciding with the first selling streak of the day in US Treasuries.  Even then, yields never went a... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 1:51AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 1:51AM EST Other News New Tax Rules May Have Added to Housing Slowdown Wed, Apr 17, 2019 10:48AM Two New York Federal Reserve Bank economists are asking whether the tax reform act that went into effect at the beginning of 2018 is playing a role in the decline of home sales. Richard Peach and Casey McQuillan, writing in Liberty Street Economics , say that the broad-based slowing in housing market activity coincided with a roughly 70 basis point rise , fr... (read more) Purchase Volume Continues Higher Despite Rising Rates Wed, Apr 17, 2019 8:17AM It would appear that Refis' time in the sun is listing back towards purchases, as mortgage rates increased for the second straight week and application volume retreated further . The Mortgage Bankers Association's Market Composite Index, a measure of that volume, decreased 3.5 percent on a seasonally adjusted basis from the week ended April 5. On an unadjust... (read more) Non-QM Products; Mortgage Mergers Roll On; QE Still Influencing Rates - a Primer Wed, Apr 17, 2019 8:31AM Economic doldrums? Probably not – but there is always someone out there claiming dire straits are right around the corner. A CNBC survey of Wall Street experts finds over 96% do not anticipate a recession by summer 2020, 70% are optimistic about the economy, and 30% have a neutral outlook. Fitch Ratings said there are no signs of recession currently bu... 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