Mortgage rates have risen rather abruptly from their long term lows 2 weeks ago and are now at the highest levels in more than a month. Fortunately, the average lender is still easily able to quote rates in the high 3% range, which is still a significant savings for anyone who bought or refi'd in 2018 and even the first part of 2019. That's great and all, but what have rates done for us lately? More importantly, what are rates going to do in the future? Unlike forecasting the weather, the more of an expert someone is in the mortgage world, their ability to predict the direction of rates doesn't meaningfully diverge from the layperson's best guess. What we do know is that tomorrow's Fed announcement is a big potential source of volatility, but NOT for the reasons most laypersons may assume!

September 18, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch No, The Fed Rate Cut Won't Affect Mortgage Rates Mortgage rates have risen rather abruptly from their long term lows 2 weeks ago and are now at the highest levels in more than a month. Fortunately, the average lender is still easily able to quote rates in the high 3% range, which is still a signifi... (read more) MBS Commentary MBS Live Day Ahead: Today's Fed Announcement is More Complicated Than Normal In the day just passed, the bond market managed to add a 2nd day to a friendly correction--a small counterattack against the much larger corrective sell-off that dominated last week's trading (and yes... that weakness was, itself, a counterattack aga... (read more) Housing News Housing Permits and Starts Hit Highest Levels in a Year August turns out to have been among the year's strongest periods for residential construction. While analysts had expected builders to shake off some of the lethargy that has dogged the industry for most of the year, increasing at least the rate of h... (read more) Housing News Higher Mortgage Rates Didn't Deter Purchase Loan Activity There was a jump in purchase mortgage applications during the week ended September 14 even as interest rates moved higher. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of applications volume, ticked down 0.1 perce... (read more) Housing News MBA Says New Home Sales Increased for August The Mortgage Bankers Association (MBA) is anticipating an increase in new home sales in August. The organization's Builder Application Survey found the volume of applications to finance the purchase of newly construction homes was 33 percent higher t... (read more) Rob Chrisman Digital, Sales, Broker Products; Mortgage Compliance, Risk, and Fraud Q&A As yet another example of a mortgage conference eating into a weekend, leading attendees to travel on a Friday or Saturday, the Mortgage Bankers Association’s Regulatory Compliance Conference starts this Sunday. But the scheduling doesn’t... (read more) Mortgage Rates No, The Fed Rate Cut Won't Affect Mortgage Rates 30 Yr. Fixed Rate 6.29% -0.16% Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% -0.16 0.00 15 Yr. Fixed 5.60% -0.21 0.00 30 Yr. FHA 5.95% -0.08 0.00 30 Yr. Jumbo 6.25% -0.15 0.00 7/6 SOFR ARM 5.59% -0.21 0.00 30 Yr. VA 5.97% -0.08 0.00 Updates Daily - Last Update: 9/5 15 Yr. Fixed Rate 5.60% -0.21% 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 MBS / Treasuries MBS Live Day Ahead: Today's Fed Announcement is More Complicated Than Normal UMBS 30YR 5.5 101.09 -0.04 MBS Price Change UMBS 5.0 99.33 -0.14 UMBS 5.5 101.08 -0.04 UMBS 6.0 102.44 -0.04 GNMA 5.0 99.76 -0.07 GNMA 5.5 101.09 -0.04 GNMA 6.0 102.09 -0.05 Pricing as of: 9/8 12:55AM EST 10 Year US Treasury 4.0991 +0.0124 US Treasury Yield Change 2 YR Treasury 3.528 +0.010 5 YR Treasury 3.605 +0.016 7 YR Treasury 3.816 +0.015 10 YR Treasury 4.100 +0.013 30 YR Treasury 4.782 +0.012 Pricing as of: 9/8 12:55AM EST 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 consumerfinancemonitor.com CFPB addresses RESPA issue in its first no-action letter under the revised final policy CNBC Powell says it's possible the Fed will have to resume balance-sheet growth Reuters Trump on Fed: 'No 'guts,' no sense, no vision!' Reuters Instant view: Fed cuts rates again, gives mixed signals for next move Reuters Fed cuts rates on 7-3 vote, gives mixed signals on next move Federal Reserve Federal Reserve issues FOMC statement Calculated Risk Blog AIA: "Substantial Decline in Architecture Billings" CNBC 'Bond King' Gundlach says there is an increasing chance of a recession before 2020 election Reuters Atlanta Fed model estimate for U.S. third-quarter GDP edges up to 1.9% Reuters Atlanta Fed model estimate for U.S. third-quarter GDP edges up to 1.9% Calculated Risk Blog Comments on August Housing Starts Reuters U.S. fed funds rate breaks above Fed's target range Reuters ECB weighs investigating Deutsche Bank over alleged unauthorized bond purchases: sources

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