Mortgage rates were mostly flat again today, despite bond market weakness (lower bond prices generally mean higher rates). Between MBS (the mortgage-backed-securities that underlie mortgage rate movement) and US Treasuries (the risk-free benchmark for all US debt/bonds), the latter fared worse. In other words, mortgage bonds outperformed Treasuries. That's one of the reasons we didn't see much movement in mortgage rates today. The other reason was as simple as the shape of market movement on Friday. Bonds improved throughout the course of the day but most lenders didn't adjust rate sheets to reflect that improvement. As such, today's weaker bond market levels ended up being fairly close to those that were in effect when lenders last set rates on Friday morning. The absence of change continues

June 19, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Fairly Steady to Begin Week Mortgage rates were mostly flat again today, despite bond market weakness (lower bond prices generally mean higher rates). Between MBS (the mortgage-backed-securities that underlie mortgage rate movement) and US Treasuries (the risk-free benchmark fo... (read more) Housing News Tear-Downs Accounted for 10% of 2016 Housing Starts In some areas, they are called "scrape-offs," but the usual term is tear-down ; demolishing an existing home to build a new one in its place. Tear-downs, not to be confused with in-fill building where a house is erected on a vacant lot in a developed... (read more) MBS Commentary MBS Live Day Ahead: Bonds Still in Limbo, Despite Recent Victories The past 3 trading sessions marked 3 of the 5 lowest closes for 10yr yields in 2017.  Friday's strength did a nice job of pushing back against a potential bounce that took shape after last week's Fed announcement.  That strength helped buil... (read more) Rob Chrisman Upcoming Events; M&A Discussion; Jobs and Housing Driving Rates? Winston Churchill said that, “If the present tries to sit in judgement on the past, it will lose the future.” No argument there in mortgage banking. Upcoming events Finastra, formerly D+H, will be hosting a joint, complimentary webinar on... (read more) Mortgage Rate Watch Mortgage Rates Holding Most of Their Recent Gains Mortgage rates were flat today, after weaker-than-expected construction data prompted a positive bounce for bond markets. In general, bonds (which dictate mortgage rates) improve when economic data is weaker. Before this morning's data, rates were at... (read more) MBS Commentary MBS Live Recap: Negative Housing Sets Positive Tone for Bonds Today was destined to be a sideways grind at slightly weaker levels for bond markets.  This would have extended the theme that had been in place since Wednesday's FOMC events.  The weakness probably wouldn't have erased Wednesday's gains.... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.03 0.00 15 Yr. Fixed 6.05% +0.01 0.00 30 Yr. FHA 6.38% +0.02 0.00 30 Yr. Jumbo 6.91% +0.01 0.00 7/6 SOFR ARM 6.27% +0.02 0.00 30 Yr. VA 6.40% +0.02 0.00 Updates Daily - Last Update: 7/24 15 Yr. Fixed Rate 6.05% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.74% -0.01 0.00 15 Yr. Fixed 5.87% -0.05 0.00 Updates Weekly - Last Update: 7/24 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.31 -0.05 Price / Yield Change MBS UMBS 5.5 99.31 -0.05 UMBS 6.0 101.25 -0.06 GNMA 5.5 99.58 -0.05 GNMA 6.0 101.22 -0.04 Pricing as of: 7/24 8:07PM EST 10 Year US Treasury 4.3982 +0.0145 Price / Yield Change US Treasury 2 YR Treasury 3.923 +0.045 5 YR Treasury 3.960 +0.030 7 YR Treasury 4.164 +0.020 10 YR Treasury 4.398 +0.015 30 YR Treasury 4.939 -0.001 Pricing as of: 7/24 8:07PM EST Latest Video All-America Survey: Economic optimism near all-time high Increased rates could 'wreck' economy: Mark Grant Amazon deal is another element of bringing costs down: Insana Around the Web NAR - Realtor.com Home Builders, Home Sellers Suddenly Shy Calculated Risk Blog Lawler: Early Read on Existing Home Sales in May Reuters Fed's Dudley confident U.S. inflation should rebound with wages Market Watch Another part of the real estate market is starting to crumble Calculated Risk Blog Q2 GDP Forecasts being Revised Down Market Watch Fed's Dudley says he's not paying attention to bond market's signals of concerns NAHB Eye on Housing NAHB Estimates 79,000 Single-family Tear-down Starts in 2016 CNBC This week: Big news on banks and the housing market NAR - Realtor.com Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed CNBC Are bond markets turning on the White House? Bloomberg Bond Traders Still Come Out as Winners After Four Fed Rate Hikes Reuters Weak inflation erodes conviction at Fed on rate hikes Freddie Mac Freddie Mac Announces Pricing of $198 Million Multifamily Small Balance Loan Securitization

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