For the third day in a row, mortgage rates set new 2017 lows this morning. But as bond markets weakened into the afternoon, several lenders recalled rate sheets for "negative reprices." This brought the afternoon's rate sheet offerings back in line with those seen on Thursday afternoon. Although that's slightly worse than this morning, rates are still effectively at 2017 lows. The average lender continues to quote 4.0% on top tier conventional 30yr fixed scenarios. Any changes from Thursday would be seen in the form of slightly higher upfront costs. Many borrowers will see no difference. While there were several economic reports today, investors remain more interested in geopolitical developments, stock prices, and currency fluctuations. Indeed, today's bounce in rates coincided with a bounced

April 17, 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 Apr 17, 2017 Mortgage Rates Fairly Steady Near 2017 Lows Mon, Apr 17, 2017 3:47PM For the third day in a row, mortgage rates set new 2017 lows this morning. But as bond markets weakened into the afternoon, several lenders recalled rate sheets for "negative reprices." This brought the afternoon's rate sheet offerings back in line with those seen on Thursday afternoon. Although that's slightly worse than this morning, rates are still effectively at 2017 lows. The average lender continues to quote 4.0% on top tier conventional 30yr fixed scenarios. Any changes from Thursday would be seen in the form of slightly higher upfront costs. Many borrowers will see no difference. While... (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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Week Ahead: The Trend is Our Friend (Until It's Not) Mon, Apr 17, 2017 9:09AM On Good Friday (when markets were closed), both Retail Sales and the Consumer Price Index came out weaker than expected.  Of particular interest is the fact that Core year-over-year CPI fell back to +2.0% vs a previous reading of +2.2% and a... (read more) MBS Live Recap: Bonds Start Strong But Fade Thanks to Stocks/Dollar Mon, Apr 17, 2017 4:57PM Today was destined to be a lower-volume session simply because it's the Monday after Good Friday.  That means many US market participants are still out of the office and the entirety of European markets is closed for Easter (observed as a Monday holiday in the EU).   Low volume doesn't guarantee volatility, but it facilitates it.  Think ... (read more) MBS Price Change UMBS 5.0 99.75 +0.28 UMBS 5.5 101.25 +0.13 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.05 +0.22 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.13 -0.01 Pricing as of: 9/8 4:36PM EST US Treasury Yield Change 2 YR Treasury 3.494 -0.024 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.772 -0.029 10 YR Treasury 4.043 -0.044 30 YR Treasury 4.687 -0.082 Pricing as of: 9/8 4:36PM EST Other News CFPB Invites Comments on HMDA Rule Clarifications Mon, Apr 17, 2017 3:42PM The Consumer Financial Protection Bureau (CFPB) has inviting comment periods on changes to its Home Mortgage Disclosure Act (HMDA) reporting rule. CFPB Director Richard Cordray said the proposed changes are designed to facilitate compliance with its 2015 updates to the rules by clarifying the information financial institutions are required to collect and rep... (read more) Builder Confidence Ebbs, But Still Solid Overall Mon, Apr 17, 2017 10:44AM Even though overall builder confidence retreated from March levels, the National Association of Home Builders (NAHB) called the April reading of the NAHB/Wells Fargo Housing Market Index (HMI) "solid." The index dropped from what NAHB said was an unusually high March reading of 71 to 68. The index had surged by 7 points month-over-month in March. Economists ... (read more) Lender Earnings; Banks Adjust Asset Mix Due to Fed Moves Mon, Apr 17, 2017 9:24AM “It was a Monday, a day like any other day. I left a small town, for the apple in decay” - so sang Foreigner many years ago. But the Big Apple’s real estate market is hardly in decay. The number of Manhattan real estate sales (about 2,900) was essentially flat in the first quarter, but the average sale price inched up 2.6 percent to $2.1 mi... (read more) Latest Video Rush into bonds a greater market risk than North Korea? Retail sales fell in March for the second straight month Weak economic growth for first quarter Around the Web Calculated Risk Blog Early Read on Existing Home Sales in April CNBC First-quarter growth was likely below 1%, according to latest survey Calculated Risk Blog Phoenix Real Estate in March: Sales up 9%, Inventory down 10% YoY Market Watch Unlike Yellen, rumored new Fed bank supervision chief supports rule-based interest rates CNBC Atlanta and NY Fed cut US first quarter GDP view after weak data CNBC Homebuilder sentiment slips 3 points to 68 in April Calculated Risk Blog NY Fed: Empire State Manufacturing Index indicates slower expansion in April builderonline.com Millennials Do Want to Own Homes, Survey Shows CNBC US Treasurys rise amid geopolitical tensions The Basis Point Amazon CEO Jeff Bezos just redefined Day 1 Certainty for mortgage execs Market Watch The Tell: Trump trade' reversal is afoot as money flows to bonds Market Watch Jamie Dimon says fixing mortgage industry would boost lending by $300 billion a year CNBC 2017 shaping up to be fastest housing market on record

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