Mortgage rates fell modestly today, but remained well inside the narrow range that's been intact for more than a week. For most lenders, that means conventional 30yr fixed quotes of 4.0-4.125% on top tier scenarios. Most borrowers will continue to see day-to-day changes in the form of minor adjustment to upfront costs. Narrow ranges in financial markets speak to indecision or an unwillingness to take too much of a stand ahead of potentially important developments. In the case of the current narrow range (which affects stocks as well as bonds), markets may be waiting for one of several big-ticket events in the coming days. The most immediate possibility is tomorrow's Fed announcement. While the Fed isn't expected to raise rates at this meeting, traders will nonetheless be scouring the verbiage

May 2, 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 May 2, 2017 Mortgage Rates Slightly Lower Ahead of Fed Tue, May 2, 2017 3:35PM Mortgage rates fell modestly today, but remained well inside the narrow range that's been intact for more than a week. For most lenders, that means conventional 30yr fixed quotes of 4.0-4.125% on top tier scenarios. Most borrowers will continue to see day-to-day changes in the form of minor adjustment to upfront costs. Narrow ranges in financial markets speak to indecision or an unwillingness to take too much of a stand ahead of potentially important developments. In the case of the current narrow range (which affects stocks as well as bonds), markets may be waiting for one of several big-tick... (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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Recap: Bonds Hold Range With or Without Today's Events Tue, May 2, 2017 4:17PM The trading week has been relatively inconsequential so far.  That's the best explanation for today's bond market gains.  Sure, there are a few anecdotes to point to in terms of cause and effect (like a big sell-off in oil, or the afternoon's auto sales numbers), but apart from having debatable significance, these factors surely aren't worth much... (read more) MBS Price Change UMBS 5.0 99.55 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.45 -0.09 GNMA 5.0 99.86 -0.21 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.08 -0.11 Pricing as of: 9/9 12:10PM EST US Treasury Yield Change 2 YR Treasury 3.541 +0.053 5 YR Treasury 3.609 +0.047 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.088 +0.048 30 YR Treasury 4.738 +0.048 Pricing as of: 9/9 12:10PM EST Other News Another Home Price Report Defying The Odds Tue, May 2, 2017 10:57AM Home prices measured by CoreLogic's Home Price Index (HPI) posted their largest gains in nearly a year in March, continuing to confound the company's own forecasts. The HPI, which includes sales of distressed properties, was up 1.6 percent from February to March. This was the biggest monthly jump since the index gained 1.8 percent from March to April 2016. T... (read more) Ocwen Stock Surges on Restructuring Efforts Tue, May 2, 2017 10:54AM Down but not out. It ain't over 'til its over... All available clichés may apply to Ocwen Financial Corporation. At least the corporation hopes so. The company's stock surged yesterday on news it is moving aggressively to counteract what appeared to be a near fatal triple whammy last month. On April 20 both the Consumer Financial Protection Agency (CF... (read more) Miami vs BofA a Mixed Bag for Banks Tue, May 2, 2017 10:06AM The Supreme Court ruled on Monday, in Bank of America Corp. v City of Miami , that cities can bring suits alleging discrimination under the Fair Housing Act. The 5-3 decision, with Chief Justice John Roberts joining the majority, was, in the words of Amy Howe, writing in SCOTUSblog , was a "mixed-bag ruling" "which "gives ammunition to both sides in litigati... (read more) Homeownership Falls Back from Recent Gains Tue, May 2, 2017 10:50AM In the second quarter of last year the homeownership rate hit its lowest level in U.S. Census Bureau reports going back 20 years, 62.9 percent. This capped off a slide that began shortly before the financial crisis and after homeownership reached an all-time high of 69.2 percent in two separate quarters of 2004. It stayed close to that level though most of 2... (read more) Latest Video Home improvement: A bright spot in retail? Fmr. 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