Mortgage Rates were slightly lower today--a counterintuitive move considering the big jobs report was slightly stronger that expected. To be clear, the headline of the jobs report (nonfarm payroll growth) was actually a bit lower than expected, but positive revisions to the previous 2 months more than made up it. The broadest unemployment metric (U-6) fell from 9.7 to 9.5%. And wage growth not only beat expectations, but was also revised higher for the previous month. All in all, it was definitely a better-than-average report, despite the weakness in headline job growth. Rates typically move higher when the jobs report is strong . At first, it looked like today would be no exception, but US bond markets (which dictate interest rate movements) increasingly benefited from a strong day in European

November 4, 2016 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Ignore Jobs Data Mortgage Rates were slightly lower today--a counterintuitive move considering the big jobs report was slightly stronger that expected. To be clear, the headline of the jobs report (nonfarm payroll growth) was actually a bit lower than expected, but p... (read more) Housing News Realtors Decide Who Gets The Loan in Most Cases A trusted real estate agent could be a loan officer's best friend. A survey, commissioned by Freddie Mac in advance of the National Association of Realtors (NAR) annual conference in Orlando, found there is a strong symbiotic relationship between the... (read more) Rob Chrisman Tax and Documentation Considerations; State Lending Law Changes From Coast to Coast Are there any updates to tax information and/or documentation requirements? Yes, a handful. Stearns requires that all loans where tax returns are being used in the calculation of income with an approval date later than 10/17/16 will require 2015 pers... (read more) MBS Commentary MBS Live Day Ahead: What Really Matters Right Now? Europe. Above all else, the evolution of the European recovery-- especially as it relates to the various fiscal and monetary policy responses in the EU and UK--has been and will be responsible for near-term bond market momentum.  In this con... (read more) Mortgage Rate Watch Mortgage Rates Drift Higher Ahead of Jobs Report Mortgage Rates were slightly higher today, keeping them in line with the weakest levels in just over 5 months. "Weakness" is relative, however. Apart from the past 5 months, and a few months in 2012, today's rates would rank among all-time lows. Day-... (read more) MBS Commentary MBS Live Recap: Exciting Overnight Followed by Daytime Snooze-Fest Thank the overnight trading session for an anticlimactic day.  It set a healthy range of highs and lows that daytime trading never managed to break. No sooner had yesterday's session drawn to a close than newswires circulated regarding a "... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.37 -0.14 Price / Yield Change MBS UMBS 5.5 99.38 -0.13 UMBS 6.0 101.31 -0.09 GNMA 5.5 99.64 -0.14 GNMA 6.0 101.27 -0.05 Pricing as of: 7/23 8:37PM EST 10 Year US Treasury 4.3837 +0.0377 Price / Yield Change US Treasury 2 YR Treasury 3.878 +0.049 5 YR Treasury 3.933 +0.048 7 YR Treasury 4.146 +0.047 10 YR Treasury 4.386 +0.040 30 YR Treasury 4.944 +0.027 Pricing as of: 7/23 8:37PM EST Latest Video Closing Bell Exchange: Market just waiting for election Elon Musk: Robots will take your jobs, government will have to pay your wag... October jobs up 161,000 Around the Web CNBC Fed's Fischer says labor market strong, Fed could overshoot goals CNBC Self-made millionaire: Don't buy a home CNBC Atlanta Fed's Lockhart says rate increases to be 'very' gradual Market Watch Jobs report more than enough for Fed to hike interest rates in December freddiemac.mwnewsroom.com Real Estate Professionals Influence Clients' Mortgage Lender Choice: Freddie Mac Survey Redfin Despite Declining Affordability, Homeownership Remains Within Reach for Teachers in Many Parts of the Country Reuters U.S. economy seen growing 3.1 percent in fourth quarter: Atlanta Fed CNBC US nonfarm payrolls total 161,000 in Oct, vs 175,000 jobs expected The Atlantic Does the Economy Really Need to Keep Growing Quite So Much? Bloomberg Fed Rate Increase Odds Approach 80% as Job Growth Seen Rising CNBC 'Fool's' monetary policy helped create Donald Trump, says ex-Fed president Fisher CFPB Monitor CFPB and NY Attorney General file federal court action against debt buyers Calculated Risk Blog Fannie and Freddie: REO inventory declined in Q3, Down 31% Year-over-year

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