Don't believe anything you read about mortgage rates today... well, except this . In fact, you're welcome to believe anything you read as long as it acknowledges the fact that rates have risen nearly a quarter of a point from last week, pushing them well into the highest levels in more than 2 years . The average top tier conventional 30yr fixed rate is quickly approaching 4.5%. Nearly every lender that was at 4.125% last week is now at 4.375%. Lenders who were at 4.25% last week are mostly up to 4.5%. The overall spike in rates since the election is now on par with the 2013 taper tantrum. You'll hear time and again "don't worry... rates are historically low..." and my personal favorite "for every .125% in rate, the payment only rises $7 per $100k borrowed." All of that is true, except perhaps

December 16, 2016 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 Dec 16, 2016 Mortgage Rates Quickly Approaching 4.5% Thu, Dec 15, 2016 3:32PM Don't believe anything you read about mortgage rates today... well, except this . In fact, you're welcome to believe anything you read as long as it acknowledges the fact that rates have risen nearly a quarter of a point from last week, pushing them well into the highest levels in more than 2 years . The average top tier conventional 30yr fixed rate is quickly approaching 4.5%. Nearly every lender that was at 4.125% last week is now at 4.375%. Lenders who were at 4.25% last week are mostly up to 4.5%. The overall spike in rates since the election is now on par with the 2013 taper tantrum. You'... (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 99.58 +0.13   95.05 100.11 UMBS 30YR 5.5 101.09 +0.09   97.47 101.40 10 YR Treasury 4.088 -0.021   3.932 4.780 MBS Live Day Ahead: Light Data and Waning Participation Limit Implications Fri, Dec 16, 2016 8:18AM NOTE: This paragraph will be at the top of the Day Ahead for a few weeks.  Once you've read it, feel free to skip it.  The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerati... (read more) MBS Live Recap: Bonds Hint at an Ominous Floor as Sell-Off Intensifies Thu, Dec 15, 2016 6:56PM If you read anything I write today, make it The Day Ahead: The Death of a Long Term Trend; A Definitive Assessment. If you want to read more, here's a recap of today's action. This wasn't the typical "day-after-Fed" trading day for US bond mark... (read more) MBS Price Change UMBS 4.5 97.52 +0.11 UMBS 5.0 99.57 +0.12 UMBS 5.5 101.08 +0.08 GNMA 4.5 97.52 +0.02 GNMA 5.0 99.79 +0.15 GNMA 5.5 100.88 +0.08 Pricing as of: 11/4 7:38AM EST US Treasury Yield Change 2 YR Treasury 3.578 -0.031 5 YR Treasury 3.699 -0.025 7 YR Treasury 3.884 -0.021 10 YR Treasury 4.093 -0.016 30 YR Treasury 4.678 -0.016 Pricing as of: 11/4 7:38AM EST Other News Housing Starts Backtrack, Permitting Still Weak Fri, Dec 16, 2016 11:09AM Housing starts retrenched in November , taking back much of their spectacular gains of October, while permits continued to display the general weakness that has prevailed since mid-summer. The U.S. Census Bureau and Department of Housing and Urban Development said initial construction of privately funded residential properties in November were at a seasonall... (read more) Builder Confidence Soars Post-Election Thu, Dec 15, 2016 11:56AM The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) soared by 7 points in December, reaching a level of 70, the highest reading since July 2005. An NAHB spokesman credited the increase to a "post-election bounce." The Index is based on a monthly survey NAHB conducts among its new homebuilder members in which they are asked to pro... (read more) CFPB, Regulatory, and Legal News; Plywood Endangered in Ohio Fri, Dec 16, 2016 9:18AM The Fed reports US household net worth soared to a record $90.2 trillion in Q3, as the stock market jumped and housing prices increased. One group of businesses that has certainly seen an uptick in business market share is credit unions. But all is not rosy: wading through the acronyms, last week the ABA has joined the ICBA in filing suit against the NCUA ov... (read more) Latest Video Housing starts down 18.7% in November Japan overtakes China as top holder of US Treasurys Small biz optimism on the rise: Paychex CEO Around the Web Calculated Risk Blog Lawler: Early Look at Existing Home Sales in November Calculated Risk Blog Comments on November Housing Starts CNBC Homebuilders super happy but not building more homes: Here's what's up with that Fannie Mae Post-Election Surge in Mortgage Rates Paints Gloomy Picture ... Bloomberg Draghi Said to Warn EU That Rising Global Rates Pose Crisis Risk CNBC Housing starts tumble from nine-year high builderonline.com How to Negotiate for Construction Loan Financing CFPB Monitor CFPB unveils Consumer Credit Trends web-based tool Reuters Dollar near 14-year peak as Fed targets more hikes, Treasury yields jump Bloomberg Send Everyone Home for Christmas. Nobody's Working, Anyway - Bloomberg Calculated Risk Blog Calculated Risk on Kudlow CNBC Here's what you need to do to buy a home Bloomberg All Types of Loans Cost More Just One Day After Fed's Rate Hike - Bloomberg

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