Mortgage rates spiked, big-time, today. Underlying bond markets had already moved higher in rate overnight, but the trend was taken to a new level by an exceptionally strong employment report from ADP. Although this isn't the big jobs report (we'll get that on Friday), many market participants treat the ADP numbers as one of several advance indicators of Friday's jobs report. Sometimes it doesn't register a response, but when it beats the forecast by as much as it did today (298k vs 190k), markets can't help but adjust their trajectory ahead of Friday. The net effect was the sharpest move higher in rates in several months , slightly outpacing last Wednesday's rout. Moreover, with the exception of a modest improvement on Monday, rates have moved higher every single day since February 27th. In

March 8, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Spike to 2017 Highs Mortgage rates spiked, big-time, today. Underlying bond markets had already moved higher in rate overnight, but the trend was taken to a new level by an exceptionally strong employment report from ADP. Although this isn't the big jobs report (we'll g... (read more) Rob Chrisman Fannie/Freddie Conventional Conforming Changes; Strong Economy Nudging Rates Yes, we change our clocks this weekend, losing an hour, although some states have escaped this ordeal by not using Daylight Savings Time. Different states do things differently. As it turns out, unfortunately, there are certain states that have bette... (read more) MBS Commentary MBS Live Day Ahead: Things Are Getting Serious For Bonds Not that we didn't already know this, but bond markets have been on the back foot ever since last week's rapid shift in Fed rate hike expectations.  This had the effect of pushing yields to the higher side of their consolidation range (the one t... (read more) Housing News ARM Activity at 30-Month High The Mortgage Bankers Association (MBA) said today that mortgage applications for both purchases and refinancing grew during the week ended March 3. The MBA's Market Composite Index, a combined measure of both types of activity, rose by 3.3 percent on... (read more) Mortgage Rate Watch Mortgage Rates Remain Near Recent Highs Mortgage rates rose moderately today, keeping them in line with recent highs. The run to those highs took place largely over the past week as markets quickly adjusted their expectations for a Fed rate hike at next Wednesday's meeting. As of last Thur... (read more) MBS Commentary MBS Live Recap: Bonds Protesting Their Short-Term Death Sentence It's not incredibly common for bonds to improve in the week leading up to an almost certain Fed hike.  That said, we only have 2 recent examples in the modern economic environment.  So there's not really an established trend that dictates... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.73 +0.09 Price / Yield Change MBS UMBS 5.5 99.73 +0.08 UMBS 6.0 101.52 +0.08 GNMA 5.5 99.93 +0.07 GNMA 6.0 101.42 +0.07 Pricing as of: 7/7 12:55AM EST 10 Year US Treasury 4.3310 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.858 -0.025 5 YR Treasury 3.912 -0.024 7 YR Treasury 4.103 -0.022 10 YR Treasury 4.331 -0.016 30 YR Treasury 4.860 -0.004 Pricing as of: 7/7 12:55AM EST Latest Video Blowout ADP report Caliber Home Loans CEO: These loans are 'outside the box' but not risky Futures Now: Crude oil hits 1-month low Around the Web CNBC Op-Ed: Why 'a handful of rate hikes' will crush the markets CNBC US productivity records smallest annual gain since 2011 CNBC Economic growth expectations are quietly falling through the floor Calculated Risk Blog February Employment Preview Reuters Banks spent record amounts on lobbying in recent election Redfin What is a Purchase and Sale Agreement? CNBC 'It would be a good thing for Dodd-Frank to stay in place': Barclays CEO CNBC US wholesale inventories has biggest drop since February 2016 CNBC David Tepper: 'You bet your heinie' I'm short bonds CNBC David Tepper: The 'punch bowl's still full' so you can't be short stocks Bloomberg CEOs Widen Income Gap Over Staff as Survey Shows 5.5% Pay Jump CNBC Job creation posts blowout month in February, ADP says Bloomberg Gundlach Predicts `Old School' Fed Will Do Sequential Hikes

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