It's been a while since the bond market (which dictates rates) has been able to digest what we would consider to be a "top tier" economic report. Why do we care about such things? Simply put, economic data is one of the key considerations for bonds. Stronger data tends to promote bond selling and thus higher mortgage rates . Conversely, when the data is weaker than expected, it generally coincides with rates holding ground or moving lower. The "all other things being equal" caveat is imperative when it comes to economic data's impact on rates. There are certainly other factors that can supersede even the most important reports. That said, the other things are rarely scheduled in advance unless we're talking about monetary policy updates from the Fed or other major central banks. So will tomorrow

May 14, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for May 14, 2019 Mortgage Rates Holding Near Recent Lows Ahead of Retail Sales Data Tue, May 14, 2019 4:22PM It's been a while since the bond market (which dictates rates) has been able to digest what we would consider to be a "top tier" economic report. Why do we care about such things? Simply put, economic data is one of the key considerations for bonds. Stronger data tends to promote bond selling and thus higher mortgage rates . Conversely, when the data is weaker than expected, it generally coincides with rates holding ground or moving lower. The "all other things being equal" caveat is imperative when it comes to economic data's impact on rates. There are certainly other factors that can superse... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Recap: Calmest Day We've Had in a While Tue, May 14, 2019 4:41PM From a volume standpoint, today was only a bit more than half as big as the highest recent days.  And you'd have to go back to April to find anything lower--at least as far as the bond market is concerned.  The same goes for the trading range, with an exceptionally narrow 2.394-2.428% in 10yr yields.  Treasuries ultimately lost ground de... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Homeowners Continue to Enjoy Price Gains Tue, May 14, 2019 11:38AM According to Lawrence Yun, chief economist for the National Association of Realtors® (NAR), a typical homeowner in the U.S. saw his or her housing wealth increase by $9,500 over the past year. Yun commented in NAR's first quarter report on existing home sales that the quarter had been beneficial to homeowners as "the majority of markets are continuing to... (read more) Loan Performance Continues its 14-Month Winning Streak Tue, May 14, 2019 10:42AM With mortgage delinquencies continuing to be at historic lows, CoreLogic points to natural disasters as a significant cause of the slight deterioration of loan performance in a few local markets. The company's Loan Performance Insights report for February notes that the nation's overall delinquency rate has fallen on a year-over-year basis for the past 14 co... (read more) Slower Appreciation Taking a Toll on Equity in Some Markets Mon, May 13, 2019 5:27PM Declining property values, while modest and localized, may be taking a toll on homeowner safety margins. ATTOM Data Solutions has released its first quarter 2019 Home Equity and Underwater Mortgage Report and notes that 5.22 million U.S. properties were underwater at the end of the reporting period. This represents 9.1 percent of all mortgaged residential pr... (read more) Customer Service Products; Training and Conferences Coming up Soon; Capital Markets Tue, May 14, 2019 10:48AM What’s in a name? Lots. Try asking someone what “gluten” is. ( Here’s a comical look at that.) Try asking someone in our business what the difference is between a “mortgage” and a “deed of trust.” How about new MLOs knowing the difference between an index, a cap, a start rate, and a margin? Depending on the wee... (read more) Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Reuters U.S. Treasury chief to plan for trade meeting in China soon: spokesman Calculated Risk Blog Los Angeles Area Home Sales Increased 1% YoY in April, Inventory up 10% YoY CNBC Fed's Esther George says there's no need for a rate cut even with the trade threat looming Calculated Risk Blog MBA: "Foreclosure inventory rate still at lowest level since 1995" Bloomberg Americans Kept Borrowing in First Quarter as New Mortgages Eased NAHB Eye on Housing Spending on Residential Improvements Edges Down in March Bloomberg Trump Seeks to Enlist Fed In His Trade Fight Against China Calculated Risk Blog NY Fed Q1 Report: "Total Household Debt Rises for 19th Straight Quarter, Now Nearly $1 Trillion Above Previous Peak" CNBC Chinese state media touts "5,000 years of trials and tribulations," gearing up for a long trade war NAHB Eye on Housing Single-Family Permit Weakness at Start of 2019 Calculated Risk Blog Small Business Optimism Index increased in April CNBC Trump says if Fed cuts interest rates, US will win trade war: 'It would be game over, we win!' CNBC US import prices rose slightly in April, suggesting inflation could remain tame for a while

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