Mortgage rates began the day very little changed versus yesterday's latest offerings. That meant another morning of access to the lowest rates since late 2017. As the day progressed, bond markets weakened and several lenders were forced to issue mid-day reprices (meaning slightly higher rates or upfront costs, depending on the scenario). Reprices can go both ways, but generally speaking, lenders are quicker to reprice toward higher rates/costs when bonds are weakening than they are to offer improvements when bonds are strengthening. It should be noted that different lenders are offering drastically different rates at the moment. This is a byproduct of market volatility and differences in business models. Some lenders are better able to keep pace with this volatility than others. If markets

June 5, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jun 5, 2019 Mortgage Rates Steady to Higher Depending on The Lender Wed, Jun 5, 2019 4:37PM Mortgage rates began the day very little changed versus yesterday's latest offerings. That meant another morning of access to the lowest rates since late 2017. As the day progressed, bond markets weakened and several lenders were forced to issue mid-day reprices (meaning slightly higher rates or upfront costs, depending on the scenario). Reprices can go both ways, but generally speaking, lenders are quicker to reprice toward higher rates/costs when bonds are weakening than they are to offer improvements when bonds are strengthening. It should be noted that different lenders are offering drasti... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.45 -0.11   95.05 100.11 UMBS 30YR 5.5 101.00 -0.06   97.47 101.40 10 YR Treasury 4.109 +0.034   3.932 4.780 MBS Live Day Ahead: Pondering The Next Move as Data Picks Up Wed, Jun 5, 2019 9:14AM In the day just past, bonds put in their biggest day of weakness since mid-April on what looks to have been a purely technical correction.  It was an ideal day for such things considering the extreme gains on Monday and the absence of any signif... (read more) MBS Price Change UMBS 4.5 97.41 -0.15 UMBS 5.0 99.46 -0.10 UMBS 5.5 101.00 -0.06 GNMA 4.5 97.43 -0.22 GNMA 5.0 99.70 -0.03 GNMA 5.5 100.80 -0.01 Pricing as of: 11/3 7:53PM EST US Treasury Yield Change 2 YR Treasury 3.605 +0.031 5 YR Treasury 3.718 +0.035 7 YR Treasury 3.905 +0.032 10 YR Treasury 4.113 +0.038 30 YR Treasury 4.692 +0.039 Pricing as of: 11/3 7:53PM EST Other News Low Rates Spark Mini-Boom in Refinancing Wed, Jun 5, 2019 8:39AM Interest rates declined again during the week ended May 31 , propping up mortgage application activity in a holiday shortened week. The Mortgage Bankers Association said its Market Composite Index, a measure of loan applications volume, managed a 1.5 percent gain on a seasonally adjusted annual basis even as it fell 10 percent from the previous week on an un... (read more) Public and Private Construction Spending Essentially Unchanged Tue, Jun 4, 2019 9:47AM Spending on construction was almost flat in April. The Census Bureau said total expenditures of both public and private money was essentially unchanged from the seasonally adjusted estimate in March of $1.30 trillion. The March number was revised from $1.28 trillion. The April spending number was 1.2 percent lower than the annual rate in April 2018. On an un... (read more) This Week Marked Low-Key Launch of the GSEs' Single MBS Tue, Jun 4, 2019 9:16AM The long-awaited single mortgage-backed security from the GSEs Fannie Mae and Freddie Mac launched on Monday. The official start date for the single security was announced in mid-March. The single security will be issued via the Common Securitization Platform (CSP), a technology and operational platform operated by Common Securitization Solutions, a joint ve... (read more) Cost-saving Products; Upcoming Events and Free Training; Company Moves Wed, Jun 5, 2019 8:54AM I was walking by a classroom recently and I overhead the teacher telling the 1st graders, “Let’s work really hard today – your parents are eager for deliverables.” There are certainly some lenders out there delivering… deliverables. As if someone hit a light switch, many conversations I have around the nation no longer involve ... 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