Mortgage rates gave back yesterday's gains this morning following a stronger-than-expected employment report from ADP. While this is not the week's biggest jobs report, investors view it as one of several early indicators of the official Employment Situation (the big jobs report that comes out tomorrow morning). In general, stronger economic data (i.e. more job growth) tends to push rates higher and vice versa. In the bigger picture, today's move higher in rates will scarcely be detectable for most borrowers. In nearly every case , today's rate quote would be the same as yesterday's with the possible exception of slightly higher upfront costs today. When it comes to "note rates" (the actual interest rate applied to your mortgage balance, without regard for the upfront costs), we're still sideways

June 1, 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 Jun 1, 2017 Rates Edge Higher Ahead of Jobs Report Thu, Jun 1, 2017 2:54PM Mortgage rates gave back yesterday's gains this morning following a stronger-than-expected employment report from ADP. While this is not the week's biggest jobs report, investors view it as one of several early indicators of the official Employment Situation (the big jobs report that comes out tomorrow morning). In general, stronger economic data (i.e. more job growth) tends to push rates higher and vice versa. In the bigger picture, today's move higher in rates will scarcely be detectable for most borrowers. In nearly every case , today's rate quote would be the same as yesterday's with the p... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Bonds Teetering Between Trends Thu, Jun 1, 2017 8:45AM Bond markets had been in a clearly-delineated positive trend from mid-March through mid-April followed by a clearly-delineated negative trend though mid-May.  After breaking out of that uptrend--something that was only confirmed on May 17th,--bo... (read more) MBS Live Recap: All Things Considered, Better Than it Might Have Been Thu, Jun 1, 2017 4:48PM Bond markets lost ground today, but less than you might expect given several of the typical inputs.  In terms of economic data, this morning's ADP Employment Report made a fairly strong case for weakness in bonds , coming in at 253k vs a median forecast of 185k.  While rates did indeed move higher following the data, half of the losses were alread... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 6:59AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.060 +0.021 30 YR Treasury 4.718 +0.028 Pricing as of: 9/9 6:59AM EST Other News Fannie Mae's Portfolio Rises 2% YTD Thu, Jun 1, 2017 11:41AM Fannie Mae said on Wednesday that its Book of Business increased at a compounded annual rate of 1.3 percent in April to a value of $3.164 trillion. The Book has increased by 1.9 percent year-to-date in 2017 and gained 1.4 percent for all of 2016. The company's mortgage portfolio had a balance of $278.46 billion at the end of April. This was composed of $201.... (read more) Single Family Sector is Rare Winner in Construction Spending Report Thu, Jun 1, 2017 10:55AM The total amount of construction put in place nationally fell in April, but continues at a pace higher than at the same point in 2016. The U.S. Census Bureau puts the seasonally adjusted annual rate of spending on all types of construction during the month at $1.22 trillion , a decrease of 1.4 percent from the March total, but up 6.7 percent from April of la... (read more) Collateral and Appraisal News - Fed Addresses Delays Thu, Jun 1, 2017 9:02AM Some may have the perception that no MI company has ever paid a claim, which isn’t true. USMI, the trade group for the majority of MIs, states that MI companies have paid over $50 billion since Fannie & Freddie entered conservatorship, having paid roughly 97 percent of valid claims to date with the remainder due over time. Employees of MI companies... (read more) Latest Video ADP reports payrolls up 253K in May Larry Summers: Inflation direction 'interesting' and deserves Fed attention Construction spending down 1.4% for April Around the Web CNBC Changes coming to bank stress tests, Fed's Powell says CNBC US jobless claims rose to 248,000 last week Reuters U.S. private sector adds 253,000 jobs in May: ADP Freddie Mac 30-Year Fixed Mortgage Rate Moves Lower Calculated Risk Blog ISM Manufacturing index increased to 54.9 in May Calculated Risk Blog May Employment Preview consumerfinancemonitor.com CFPB May 2017 complaint report highlights complaints from older consumers Gallup Gallup Good Jobs Rate Rises in May NAR - Realtor.com Mortgage Rates Slide to Fresh 2017 Low as Inflation Slips Through Fed's Fingers Bloomberg Here's What the Fed Will Be Watching for in the Jobs Report Bloomberg Paulson, Blackstone Said to Back Plan for Freeing Fannie-Freddie Calculated Risk Blog Construction Spending decreased in April Bloomberg U.S. Homes Are Finally Shrinking - Bloomberg

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