Mortgage rates fell modestly today, but not enough to make it back to the lows seen earlier this week. 4.25% is still the most prevalent 30yr fixed rate on top tier scenarios, meaning day-to-day movement has been limited to upfront costs (sometimes referred to as "points," depending on the source of information). Since last Friday, the range has been exceptionally narrow leading up to tomorrow's Employment Situation (the big "jobs report"). This is the most important scheduled economic report each month. While its impact can vary, it always has tremendous potential to move markets in either direction. Given that today's rates are slightly lower than the average over the past few weeks, and the trend has been toward slightly higher rates during that time, a more cautious strategy makes good

February 2, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Feb 2, 2017 Mortgage Rates Edge Lower Ahead of Jobs Report Thu, Feb 2, 2017 3:32PM Mortgage rates fell modestly today, but not enough to make it back to the lows seen earlier this week. 4.25% is still the most prevalent 30yr fixed rate on top tier scenarios, meaning day-to-day movement has been limited to upfront costs (sometimes referred to as "points," depending on the source of information). Since last Friday, the range has been exceptionally narrow leading up to tomorrow's Employment Situation (the big "jobs report"). This is the most important scheduled economic report each month. While its impact can vary, it always has tremendous potential to move markets in either di... (read more) Mortgage Rates Higher Despite Help From The Fed Wed, Feb 1, 2017 5:05PM Mortgage rates were higher to end the day, but not as high as they might have been without the Fed Statement. The day began with a series of strong economic reports. The ADP Employment Report was much stronger than expected, as was the employment component of the ISM Manufacturing report. Investors connect those dots to increased risk of a strong number in this Friday's all-important Employment Situation Report (the big jobs report). But jobs are good, right? So why is this bad? It's not bad for the economy. It's merely bad for rates. In general, stronger economic data (especially when it's th... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Day Ahead: Limited Data Allows Better Opportunity to Observe Underlying Momentum Thu, Feb 2, 2017 8:28AM Occasionally, these Thursday's before NFP have very little by way of relevant economic data.  Today is arguably such a Thursday.  With us as always is the Jobless Claims report, but it hasn't been much of a market mover for years now.  ... (read more) MBS Live Recap: Econ Data Hurt, Fed Offered Some Healing Wed, Feb 1, 2017 5:25PM Between this morning's economic reports and opening tradeflows, there was quite a bit more volume early in the day.  This was almost exclusively in response to the ADP and ISM data.  Both were exceptionally strong, and both had clearly-delineated impacts. ADP was first up at 815am.  Coming in at 246k vs a 165k forecast, the immediate concl... (read more) MBS Live Recap: Bonds Lose Morning Gains; MBS Outperform Thu, Feb 2, 2017 4:42PM Today ended up being exceptionally quiet for bond markets in the bigger picture, although that wasn't clearly going to be the case earlier this morning.  By 8:50am, yields were at their lowest levels in more than a week as investors were relieved to not get a more hawkish message from the Bank of England in today's policy comments. British bond... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 9:32AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 9:32AM EST Other News Good News for Lenders in RFC Case; Bank M&A Continues - SoFi to Purchase Zenbanx Thu, Feb 2, 2017 9:38AM Supply and demand (“the invisible hand”) are the driver of many things in life, as are perceived shortages. So it was with great concern that Chris C. and Joe W. sent this breaking news from Kansas City about… the bacon reserve hitting a 50-year low !? Like Beyoncé announcing she's having twins, or oil where the government has strat... (read more) Latest Video Futures Now: US dollar hits 2.5-month low Louise Yamada: Markets due for short-term pullback US jobless claims fall more than expected last week Around the Web CFPB Monitor D.C. Circuit denies motions to intervene in PHH case Redfin Redfin Touts Home Price Estimate Accuracy Calculated Risk Blog Goldman: January Employment Preview CNBC Here's your breakdown of what to look for in Friday's monthly jobs report CNBC The Fed that cried wolf: That aggressive forecast for interest rate hikes is in doubt Calculated Risk Blog January Employment Preview Calculated Risk Blog Lawler: The Household Conundrum, Part II: The American Community Survey (ACS) Data CFPB Monitor PHH opposes motion to intervene filed by Democratic lawmakers NAHB Eye on Housing 55+ Housing Market Ends Fourth Quarter on Record-High freddiemac.mwnewsroom.com Mortgage Rates Steady to Begin February CNBC US jobless claims fall more than expected last week Gallup US Gallup Good Jobs Rate 44.8% in January The Atlantic Will GDP and Unemployment Numbers Be Credible Under Trump?

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