Mortgage rates rose by the smallest amount of the week today, but they rose nonetheless. That caps a streak of 5 straight days spent moving in an unfriendly direction. The caveat is that we continue to deal with an overall range that is generally very narrow. Between last week's lows and this week's highs, there's scarcely more than .125% in rate. And the biggest single-day movement (Wednesday) only saw an effective rate increase of 0.07%. Each of the remaining days was 0.03% or less. That big move on Wednesday was due to comments from NY Fed President Dudley on the likelihood of a Fed rate hike in March. Markets have remained somewhat tuned in to Fed speakers since then, but even when Yellen today confirmed that a March hike was likely, there wasn't much of a response. Bottom line , financial

March 3, 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 Mar 3, 2017 Mortgage Rates Rise For 5th Straight Day Fri, Mar 3, 2017 4:08PM Mortgage rates rose by the smallest amount of the week today, but they rose nonetheless. That caps a streak of 5 straight days spent moving in an unfriendly direction. The caveat is that we continue to deal with an overall range that is generally very narrow. Between last week's lows and this week's highs, there's scarcely more than .125% in rate. And the biggest single-day movement (Wednesday) only saw an effective rate increase of 0.07%. Each of the remaining days was 0.03% or less. That big move on Wednesday was due to comments from NY Fed President Dudley on the likelihood of a Fed rate hi... (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: Post-Election Range Threatened by Fed Fri, Mar 3, 2017 8:43AM As you're likely aware, rates have been in a very well-behaved consolidation range since mid-November.  The trendlines connecting the "lower highs" and "higher lows became especially linear in 2017.  After challenging the lower boundary of ... (read more) MBS Live Recap: Everyone Sells Everything to Buy Snapchat (Not Really) Thu, Mar 2, 2017 5:25PM You couldn't swing a dead cat without hitting a news story about the Snapchat IPO or a friend/colleague asking if you were going to buy some.  While it's tempting to explain lower stock and bond prices by saying that everyone sold assets in orde... (read more) MBS Live Recap: Bonds Bounce Back After Yellen Confirms Rate Hike Fri, Mar 3, 2017 4:34PM Economic data was stronger this morning with the best ISM Manufacturing "business activity" reading since 2011.  Along with comments from Fed's Powell, this kept the pressure on rates heading into the afternoon. Then, in a classic case of "buy the rumor, sell the news" (or vice versa), bond markets "bought the news" of a likely Fed rate hike in Ma... (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: 2/6 11:41PM 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: 2/6 11:41PM EST Other News Market Shifts May Lead to More Mortgage Fraud Thu, Mar 2, 2017 5:29PM The shifting of the mortgage market toward more purchases as well as declining origination volumes are expected to boost the incidence of mortgage fraud in 2017 according to CoreLogic. The company's Fraud Index is already on the move. It shot up to 122 in the fourth quarter of 2016, matching its highest level in 2014. The jump came even though there was more... (read more) Record Bank Earnings, Basel Update; Appraisal and Collateral Trends Fri, Mar 3, 2017 9:12AM For me the last few weeks included travel to events in Florida, Texas, Southern California, and now The Mortgage Collaborative’s event in Arizona. And although I wouldn’t describe the mood as “vivacious” out there ("keeping our noses to the grindstone" would be more appropriate), in terms of demographics I have noticed more and more y... (read more) Latest Video Home prices rising, down payments dropping Yellen speaks at Executives' Club of Chicago Market valuations justified as money flows into quality stocks: Pro Around the Web CFPB Monitor Competing House and Senate bills aim to eliminate or reform the CFPB Market Watch Fed's Fischer signals he is content with market expectations of a rate hike in March Reuters Fed's Yellen: March rate hike 'appropriate' if data holds up Freddie Mac Multifamily Notes from San Diego CNBC Fed's Fischer avoids rate debate, makes case for free hand in policy Bloomberg JPM's Kelly Says Markets Due for Significant Correction - Bloomberg Video CNBC ISM non-manufacturing index hit 57.6 in February vs estimate of 56.5 CNBC Fed's Lacker, citing mistakes of '60s, plugs pre-emptive rate hikes CFPB Monitor Cordray's CNBC interview answers few questions CNBC Property investors are getting interest rate jitters: CBRE builderonline.com Should Doctors Be Able to Prescribe Housing as a Cure for Homelessness? builderonline.com Will Technology Replace Appraisers? Reuters Futures dip ahead of Yellen's speech

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