The Housing Market Index (HMI) backed down a bit from its post-election surge in January, dropping 2 points to a composite reading of 67. The National Association of Homebuilders (NAHB)/Wells Fargo index, which measures builder confidence in the new home market, had gained 7 points (now revised down to 6) in December to reach its highest level since July 2005. According to NAHB Chairman Granger MacDonald, "Builders begin the year optimistic that a new Congress and administration will help create a better business climate for small businesses, particularly as it relates to streamlining and reforming the regulatory process." "NAHB expects solid 10 percent growth in single-family construction in 2017, adding to the gains of 2016," said NAHB Chief Economist Robert Dietz. "Concerns going into the

January 18, 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 18, 2017 Mortgage Rates Back Near 2-Month Lows Tue, Jan 17, 2017 4:53PM Mortgage rates moved lower today , generally recovering the losses seen last Friday. This brings many lenders back in line with the lowest levels since November 17th, although last Wednesday (Jan 11) was slightly better on average. There hasn't been enough volatility to unseat 4.125% as the most prevalent 30yr fixed "note rate" on top tier scenarios. As such, today's improvement is limited to "effective rates" (which take closing costs into consideration). Heading into the 3-day weekend last week, we discussed the risk that the recent trend toward lower mortgage rates may have run its course, ... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Active Day for Data; Range Remains Intact Wed, Jan 18, 2017 8:29AM Although yields were able to close at the lowest levels in more than a month yesterday, bonds continued to trade in the same intraday range (roughly 2.30-2.44% in terms of 10yr yields).  Today begins with that range being firmly reinforced as yields are well off the lows (currently up to 2.37%) ahead of this morning's economic data. There are sever... (read more) MBS Live Recap: Best Closing Levels Since Late November Tue, Jan 17, 2017 5:48PM In some regards, bonds had their best day of the year today.  The outright gains weren't quite as big as Jan 5th or 9th, but closing yields were the lowest since Nov 29th!  Much of today's bond market positivity owes itself to the 3-day weekend.   Specifically, it now looks like much of last week's Thu/Fri weakness was due to traders getti... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.46 -0.08 GNMA 5.0 100.00 -0.07 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:49AM EST US Treasury Yield Change 2 YR Treasury 3.503 +0.015 5 YR Treasury 3.580 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.065 +0.026 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 6:49AM EST Other News Builder Confidence Slides Off 12-Year High Wed, Jan 18, 2017 10:39AM The Housing Market Index (HMI) backed down a bit from its post-election surge in January, dropping 2 points to a composite reading of 67. The National Association of Homebuilders (NAHB)/Wells Fargo index, which measures builder confidence in the new home market, had gained 7 points (now revised down to 6) in December to reach its highest level since July 200... (read more) Refi Applications Continue Healing With Help From FHA Fee Cut Wed, Jan 18, 2017 8:19AM Mortgage applications rose on a seasonally adjusted annual basis during the week ended January 13. The Mortgage Bankers Association said its Market Composite Index, a measure of applications volume, increased by 0.8 percent compared to the week ended January 6. On a non-adjusted basis, the volume was up 29 percent. The previous week's number included an adju... (read more) Deutsche Settles; Investor Requirement and Underwriting Changes Wed, Jan 18, 2017 9:07AM The mortgage world is full of acronyms. Some refer to Finance of America as “FOAM,” for example. There are new ones every year, making it hard for old-timers in lending to keep track. Speaking of which, I’m not old, but then again, does anyone ever think they are? Along those lines, if anyone is curious, the current HMDA data (another acron... 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