It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. Over time and in the bigger picture, Freddie's survey is an accurate way to track broad trends in rates. But because it primarily captures market movement that occurs in the first 2 days of any given week, and because that movement isn't reported until Thursday, the numbers can lag up-the-minute reality. For those interested in up-to-the-minute reality, there's good news about mortgage rates today. Freddie's survey shows a decline of 0.12%. That's an uncommonly big week-over-week drop. Accordingly, many major news outlets are reporting the 0.12% drop. The good news is that rates improved so much today (a day not counted in Freddie's numbers) that, if nothing changed by next week, Freddie's survey

January 5, 2017 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 Jan 5, 2017 Rates Moved Even Lower Today Than You May Have Heard Thu, Jan 5, 2017 4:08PM It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. Over time and in the bigger picture, Freddie's survey is an accurate way to track broad trends in rates. But because it primarily captures market movement that occurs in the first 2 days of any given week, and because that movement isn't reported until Thursday, the numbers can lag up-the-minute reality. For those interested in up-to-the-minute reality, there's good news about mortgage rates today. Freddie's survey shows a decline of 0.12%. That's an uncommonly big week-over-week drop. Accordingly, m... (read more) Mortgage Rates Steady to Slightly Higher Wed, Jan 4, 2017 4:13PM Mortgage rates were slightly higher today, on average, but some lenders were unchanged from yesterday. Others were quoting higher rates in the morning and then issued positive reprices in the afternoon (i.e. mid-day improvements), bringing them back in line with the rest of the pack. In the slightly bigger picture, rates remain closer to 4 week lows. Since Dec 8th, only yesterday was any better. 4.25% remains the most prevalent conventional 30yr fixed quote on top tier scenarios. Some of the more aggressive lenders are still down at 4.125% and a few haven't made it down from 4.375% yet. Compar... (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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.048 +0.009   3.621 4.780 MBS Live Day Ahead: Waiting to See if ISM Data Can Move Markets Ahead of NFP Tomorrow Thu, Jan 5, 2017 8:35AM 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 considerations.  I'll still be doing that, but in posts on MBS Live and under the 'General Commentary' heading (whic... (read more) MBS Live Recap: Modest Volatility and Back to Unchanged After Fed Minutes Wed, Jan 4, 2017 5:03PM Bonds focused on technicals, range-trading, corporate supply, and the FOMC Minutes today.  It all added up to almost no net change across the board, so I hesitate to read too much into any single development.   The tone was definitely weaker in the morning, volatile in the hour following the Fed, and then stronger into the close.  Big ... (read more) MBS Price Change UMBS 5.0 99.73 -0.04 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.05 -0.03 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.04 Pricing as of: 9/8 11:06PM EST US Treasury Yield Change 2 YR Treasury 3.495 +0.008 5 YR Treasury 3.570 +0.009 7 YR Treasury 3.776 +0.008 10 YR Treasury 4.048 +0.009 30 YR Treasury 4.697 +0.006 Pricing as of: 9/8 11:06PM EST Other News Mortgage Credit Eases for 4th Straight Month Thu, Jan 5, 2017 9:54AM Access to credit continued to inch up last month according to the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI). The index rose 0.6 percent to 175.2 in December. An increase in the index indicates that lending standards are loosening . Lynn Fisher, MBS's Vice President of Research and Economics said, "Credit availability wa... (read more) Training/Webinars; Bank Mergers Continue - How Many Banks Were There in 1921? Thu, Jan 5, 2017 9:51AM This morning we’ve had the Challenger layoff data and the usual Thursday’s weekly Initial Jobless Claims (and its 4-week moving average). Things aren’t great out there. Aside from the Arch MI layoffs this week, after seeing sales drop during the holidays, Macy's said it has either closed or will shutter 68 stores and cut an additional 6,200... (read more) Latest Video Fed's Williams: Three rate hikes sound reasonable ADP December payrolls up 153K December job cuts up 25%: Challenger Around the Web CFPB Monitor CFPB releases report on student loan debt owed by older consumers Bloomberg Fed's Williams Sees Three-Hike 2017 Outlook as 'Very Reasonable' - Bloomberg Calculated Risk Blog December Employment Preview Calculated Risk Blog Reis: Apartment Vacancy Rate declined in Q4 to 4.1% Market Watch If Fed had followed Taylor rule, it would have caused substantial job loss, Kashkari says OCC OCC Report Discusses Risks Facing National Banks and Federal Savings Associations Bloomberg FOMC Minutes Fill in Fed Statement Blanks: Porcelli - Bloomberg Reuters U.S. crude stocks fall sharply, products surge freddiemac.mwnewsroom.com Mortgage Rates Start the Year Lower CNBC ISM non-manufacturing index hits 57.2 vs estimate of 56.6 CNBC Op-Ed: The Fed is using the wrong model NAHB Eye on Housing Age of Housing Stock by State CNBC Do you think you know your real credit score? Well, think again.

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