Mortgage rates held steady today, despite a key report from the Labor Department showing stronger-than-expected job creation in February. Typically, a strong jobs report is bad for rates. This one likely would have been bad as well, but markets got advance notice from another report earlier in the week. Remember Wednesday's ADP data? It thoroughly trounced the 190k expectation, coming in at 298k. Given that the ADP data attempts to track/predict the Labor Department's report, rates were able to rise preemptively before this morning's data ever came out. With the official numbers not quite as stellar as ADP suggested, bond markets (and thus, mortgage rates) were able to hold their ground. While ground-holding is good, the ground itself could be better. Rates remain at 2017's highs with the average

March 10, 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 Mar 10, 2017 Mortgage Rates Hold Steady Despite Strong Jobs Data. Here's Why... Fri, Mar 10, 2017 4:14PM Mortgage rates held steady today, despite a key report from the Labor Department showing stronger-than-expected job creation in February. Typically, a strong jobs report is bad for rates. This one likely would have been bad as well, but markets got advance notice from another report earlier in the week. Remember Wednesday's ADP data? It thoroughly trounced the 190k expectation, coming in at 298k. Given that the ADP data attempts to track/predict the Labor Department's report, rates were able to rise preemptively before this morning's data ever came out. With the official numbers not quite as s... (read more) Mortgage Rates Keep Pushing 2017 Highs Thu, Mar 9, 2017 5:38PM Mortgage rates rose again today, bringing them further into the highest levels of the year. If there's anything redeeming about the move it's that it wasn't nearly as abrupt as yesterday. In fact, several lenders were fairly close to yesterday's offerings. The average lender is back up to 4.375% on top tier conventional 30yr fixed quotes. A few remain at 4.25% and some are already up to 4.5%. Bond markets (which underlie rate movement) are feeling pretty pessimistic right now, primarily due to the recent and rapid increase in Fed rate hike expectations. Beyond that, things like economic data h... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Any Weakness After NFP Means a Showdown With 3-Year Highs Fri, Mar 10, 2017 8:15AM Bonds are right on the edge of the relative abyss.  If 10yr yields break much higher today, we'll be operating in territory not seen since early 2014.  Frustratingly, if bond yields break lower, we'll be right back in the position of wonder... (read more) MBS Live Recap: 9th Straight Day of Weakness and More Risk Ahead Thu, Mar 9, 2017 6:34PM The title sums it up.  Bonds are having a bad time .  Fed rate hike expectations started this unpleasant party last week and economic data added to the drama this week (chiefly, Wednesday's ADP employment data).   This morning saw fairly modest pressure from the overnight session and the morning's press conference with European Central Ba... (read more) MBS Live Recap: ADP Armor Helps Bonds Fend Off Strong Jobs Report Fri, Mar 10, 2017 4:43PM ADP provided a cruel gift on Wednesday.  It isn't the most trusted advance indicator of the infinitely more important NFP data, but when it beats the forecast by more than 100k, markets can't help but adjust.  And adjust they did!  Wednesday was the epicenter of this week's bond market blast.  All at once, traders got into position for ... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 7:53PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 7:53PM EST Other News Shift Out of FHA Loans Yet Ginnie Sets New Record; Worst Seller Traits in M&A Fri, Mar 10, 2017 9:36AM The last time I checked Americans enjoy living indoors, especially given storms like today’s in the Northeast. How’s this for a combination of edifices and technology: If you think you don’t understand how blockchain works, how about 3-D printers? Here's a printer that printed an entire house in 24 hours!! M&A update In the last week or... (read more) Latest Video Markets digest jobs report ahead of big Fed meeting Rate hike odds hit 90% Hatzius: Close call between 3 hikes with balance sheet adjustment and 4 rat... Around the Web Bloomberg US Subprime Auto Loan Losses Reach Highest Level Since the Financial Crisis Market Watch The Fed: Fed expected to send hawkish signals with the dot plot Bloomberg Yellen Claim Fed Isn't Behind Curve Challenged by Robust Hiring CNBC Don't take the 235K jobs number at face value, Goldman's chief economist says Bloomberg ECB Said to Have Discussed Whether Rates Can Rise Before QE Ends The Atlantic 3 Takeaways From the February Jobs Report Market Watch Jobs report takes away last hurdle to Fed interest-rate hike CNBC Jobs and wages both jumped in February Bloomberg Proof Daylight Saving Time Is Dumb, Dangerous, and Costly Bloomberg Freddie Mac Considers Backing Single-Family Home Rentals Market Watch A third of American families have roller coaster' finances NY Times Jobs Report: What to Watch For CNBC Final countdown to big jobs Friday and a rate hike

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