Mortgage rates rose modestly today after spending 2 days at the best levels in nearly 8 months. Financial markets were tuned in to several key events with the power to cause volatility for rates today. Of these, the Senate testimony of former FBI Director Comey probably had the biggest spotlight. Rates were already coming under some pressure yesterday as Comey's prepared remarks were released, but bond markets (which dictate rates) didn't move quite enough for most lenders to adjust rate sheets. Instead, lenders waited for this morning to pass along the bond market weakness in the form of slightly higher rates. As it turns out, traders had done a fairly good job of getting in position for the expected outcome of the Comey testimony, and there wasn't nearly as much intraday volatility as there

June 8, 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 8, 2017 Mortgage Rates Rise Modestly From 2017 Lows Thu, Jun 8, 2017 3:09PM Mortgage rates rose modestly today after spending 2 days at the best levels in nearly 8 months. Financial markets were tuned in to several key events with the power to cause volatility for rates today. Of these, the Senate testimony of former FBI Director Comey probably had the biggest spotlight. Rates were already coming under some pressure yesterday as Comey's prepared remarks were released, but bond markets (which dictate rates) didn't move quite enough for most lenders to adjust rate sheets. Instead, lenders waited for this morning to pass along the bond market weakness in the form of slig... (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: After a Nice Run, Bond Rally Considers Its Mortality Thu, Jun 8, 2017 9:02AM A few days ago, I laid out a bullish long-term case for bond markets.  I could probably do something similar for a bearish case, but when it comes to bearish risks, it's easier if we forget about the longer-term and focus on short-to-medium-term... (read more) MBS Live Recap: Surprising (or Not?) Absence of Volatility Thu, Jun 8, 2017 4:55PM Perhaps it had to do with yesterday's 1st round of Senate testimony or Comey's prepared remarks giving bond markets an unfriendly bump, but bonds ended up doing very little with today's much-anticipated Comey Q&A.  Then again, not much came to light that hadn't already been known, or that wasn't contained in his prepared remarks yesterday.  A... (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 7:14PM 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 7:14PM EST Other News "Good Time to Sell" Hits Highest Levels in Fannie Survey Thu, Jun 8, 2017 9:34AM The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased fractionally in May, however the change in each of its internal components was decidedly more pronounced. The HPSI, based on six of the questions from Fannie Mae's monthly National Housing Survey (NHS), was 86.2, down 0.5 percent compared to April. Three of its components moved higher and thr... (read more) Home Flips Decrease but Mortgage Use Rises Thu, Jun 8, 2017 9:36AM Home flipping, the practice of buying and then reselling the same property within a 12-month period, fell to the lowest level in two years during the first quarter of 2017. At the same time, the share of those "flips" using mortgage financing rose to a nine-year high. ATTOM Data Solutions (formerly RealtyTrac) noted the anomaly in its Q1 2017 U.S. Home Flipp... (read more) HMDA Training; Survey on Digital Mortgage Benefits; Origination and Millennials Thu, Jun 8, 2017 9:26AM No one has a crystal ball, but CNBC makes the point that, as a nation, home prices won't fully recover until 2025 , and that "price gains during the last housing boom were juiced almost entirely by an incredibly loose mortgage lending market that no longer exists." (Is the Ability to Repay standard enough to stop a "loose mortgage market" from re-occurring?)... (read more) Latest Video Europe markets are all eyes on UK election Comey: Russia election interference about as 'un-fake' as it can get Comey on his talks with Trump: Lordy, I hope there are tapes Around the Web CNBC White House reiterates that Trump is committed to fair US elections free from any interference Calculated Risk Blog Fed's Flow of Funds: Household Net Worth increased in Q1 CNBC Comey says Trump never asked him about 'tens of thousands' of FBI investigations besides Flynn probe CNBC Comey: Russia interfered with 2016 election, and 'they did it with purpose' Bloomberg ECB Drops Guidance About Further Rate Cuts - Bloomberg Market Watch Treasury yields rise modestly as Comey delivers Senate testimony Bloomberg Real Estate Companies Ditch the Paperwork, Get on the Cloud Freddie Mac 30-Year Fixed Mortgage Rate Continues to Fall Reuters Jobless claims fall; labor market slack shrinking Reuters Forestar says D.R. Horton's offer could be superior to Starwood bid CNBC A 20 percent down payment out of reach? How to get around that CNBC House poised to pass bill taking aim at Dodd-Frank regulations CoreLogic CoreLogic Reports Nearly 9 Million Borrowers Have Regained Equity Since the Height of the Crisis in 2011

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