Mortgage rates were steady-to-slightly lower today, keeping them in line with the lowest levels in 2 weeks and very close to the lowest levels of the month. For most lenders, that means conventional 30yr fixed rate quotes of 4.25% on top tier scenarios. Some lenders are still up at 4.375% and an aggressive few are back down to 4.125%. Last week, we discussed the motivations for the rate improvements in detail. To recap: longer-term rates like mortgages had already risen in anticipation of the Fed rate hike. It wasn't a surprise. Instead, markets were focused on the Fed's forward-looking rate hike forecasts, which came out slightly slower than markets expected. Thus, rates were overly-prepared for a fast rate hike timeline and had some room to return to early March levels. From there, attention

March 20, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 20, 2017 Mortgage Rates at 2 Week Lows Amid Political Uncertainty Mon, Mar 20, 2017 3:58PM Mortgage rates were steady-to-slightly lower today, keeping them in line with the lowest levels in 2 weeks and very close to the lowest levels of the month. For most lenders, that means conventional 30yr fixed rate quotes of 4.25% on top tier scenarios. Some lenders are still up at 4.375% and an aggressive few are back down to 4.125%. Last week, we discussed the motivations for the rate improvements in detail. To recap: longer-term rates like mortgages had already risen in anticipation of the Fed rate hike. It wasn't a surprise. Instead, markets were focused on the Fed's forward-looking rate h... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Week Ahead: Light on Data But Fed Speakers May Shape The Outlook Mon, Mar 20, 2017 9:15AM This week will be fairly light in terms of scheduled economic data .  The first relatively significant report won't be out until Wednesday (Existing Home Sales).  The remaining days of the week only have one major report each (New Home Sales on Thursday and Durable Goods on Friday).  Moreover, with the exception of Durable Goods, none of thes... (read more) MBS Live Recap: Bonds Would Not Get Pinched Today Fri, Mar 17, 2017 5:28PM If wearing some green is all it takes, bonds would have escaped today pinch-free.  Treasuries and MBS began the day with just a token amount of green (i.e. bond market improvement), but readily found more after inflation expectations hit record lows in the 10am Consumer Sentiment data. To be fair to "token amounts," the rally felt fairly uninspired... (read more) MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.76 -0.31 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 5:39PM EST US Treasury Yield Change 2 YR Treasury 3.554 +0.067 5 YR Treasury 3.614 +0.052 7 YR Treasury 3.813 +0.045 10 YR Treasury 4.084 +0.045 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:39PM EST Other News Fannie Mae Notes Hopeful Construction Outlook Mon, Mar 20, 2017 3:28PM Fannie Mae's March economic forecast was written before the FOMC announced an increase in the fed funds rate last Wednesday. The company's economists assumed there would be an increase, but hedged some of their predictions by noting both upside and downside risks to their 2 percent growth forecast. Currently the country appears on track to start the year wit... (read more) Congress Holding Hearing on CFPB Constitutionality Mon, Mar 20, 2017 2:39PM The House Financial Services Committee has scheduled a hearing on March 21 titled "The Bureau of Consumer Financial Protection's (CFPB's) Unconstitutional Design." The hearing comes on the heels of a decision by the Department of Justice to not defend the Bureau in a landmark case brought to PHH challenging the constitutionality of CFPB's structure. The Comm... (read more) Zillow Saga Continues; Training and Events Mon, Mar 20, 2017 10:58AM Say it ain’t so! Fannie is being bought by an Italian company?! Sure enough, Italy’s Ferrero International SA is buying U.S.-based Fannie May Confections Brands for $115 million. Ferrero already owns Nutella and Tic Tacs. Founded in 1920, Fannie May is 18 years older than housing’s Fannie, and is owned by 1-800-Flowers.com - hard to know wh... (read more) Latest Video Fed's Kashkari's dovish case for rates Fed's Kashkari's: Fed's balance sheet should be the next move Fed's Harker: 'Prudent' to raise rates Around the Web CNBC Wells Fargo reports decrease in retail banking activity for February CNBC Private-label mortgage bonds are rising from the grave CFPB Monitor House subcommittee to hold hearing tomorrow on CFPB's constitutionality Calculated Risk Blog Housing: Upside and Downside Risks Reuters Fed on track to raise rates twice more this year: Evans CNBC Fed's Kashkari, the lone dissenter, opposed the latest rate hike due to lack of inflation Calculated Risk Blog Chicago Fed "Economic Growth Increased in February" Bloomberg Bond Market Calm Is Threatened by Fed's $1.75 Trillion MBS Shift Bloomberg Post-Fed Calm in Treasuries Masks a Raging Bulls-Bears Debate CNBC Shopping for a home? You better act fast Freddie Mac Freddie Mac Sells $667 Million NPLs Bloomberg As Yellen Complains of 'Noisy' GDP, the Fed Makes a Racket National Housing Conference Digging deep into who struggles to afford housing in your region

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