Mortgage rates were steady to slightly lower today, with underlying bond markets essentially erasing the damage seen yesterday. This was neither here nor there for the mortgage world as most lenders didn't adjust rates much higher yesterday (despite bond weakness). Thus, they didn't have much to do today when bonds strengthened. In general "bond market strength" = lower rates and vice versa. There were no significant economic reports or major market-moving headlines today--at least not for rates. Oil prices and political headlines might make the evening news, but neither were directly responsible for the bond market improvement. The absence of change continues to be a good thing given that rates remain very close to their lowest levels in more than 8 months. Only a handful of recent days have

June 20, 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 20, 2017 Rates Fall Slightly to Remain Near 8-Month Lows Tue, Jun 20, 2017 3:44PM Mortgage rates were steady to slightly lower today, with underlying bond markets essentially erasing the damage seen yesterday. This was neither here nor there for the mortgage world as most lenders didn't adjust rates much higher yesterday (despite bond weakness). Thus, they didn't have much to do today when bonds strengthened. In general "bond market strength" = lower rates and vice versa. There were no significant economic reports or major market-moving headlines today--at least not for rates. Oil prices and political headlines might make the evening news, but neither were directly responsi... (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 Recap: Bonds Erase Yesterday's Weakness Without Much Help Tue, Jun 20, 2017 4:54PM Today had no significant news or events on the calendar, thus leaving traders to watch other traders for cues.  To some extent, several Fed speakers got some attention, but the best we can do here is to pick out only the comments that reinforce the rally and tell you about those.  And that doesn't seem very fair, considering the there were Fed co... (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 7:06PM 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 7:06PM EST Other News Rise in Purchase Mortgages Boosts Credit Risk Tue, Jun 20, 2017 10:20AM New home purchase mortgages became a little riskier in the first quarter of 2017 per CoreLogic. The company said its Housing Credit Index (HCI), which measures trends in six mortgage credit risk attributes, edged up to 105.6, a 3.6-point increase from the same quarter in 2016. This puts the HCI at about the same level as its average score of 105.9 over the p... (read more) MBA Objects to FHFA Non-Bank Servicer Proposal Tue, Jun 20, 2017 9:43AM Mortgage Bankers Association President and CEO David H. Stevens, has released a statement objecting to one of the three recommendations made this week by the Federal Housing Finance Agency (FHFA) in its annual report to Congress. FHFA said it intends to ask Congress to allow it to add certain regulated counterparties, specifically non-bank servicers , to its... (read more) Hedging Economic Bets Tue, Jun 20, 2017 9:42AM Fannie Mae's Economic and Strategic Research Team hedged a few bets in its June economic summary. It laid out some wild cards while predicting that the current expansion, which marks its eight-year anniversary this month and is the third longest of the post-World War II area, should continue its moderate growth next year. One of those wild cards is the poten... (read more) Reverse Mortgage Primer; LO Jobs and Products Tue, Jun 20, 2017 9:28AM “People who don’t give up attract other people’s attention.” As do people whose humor is stuck in 4th grade – like mine usually is. For example . Reverse Mortgages - Attracting Forward Lenders Given that 10,000 people a day are turning 62 (the minimum age to take out a reverse mortgage), plenty of "forward" lenders are looking a... (read more) Latest Video Santelli Exchange: Yield curve flattening We haven't seen full effect of Fed rate hikes: David Rosenburg Fed's Evans: Recent inflation data did make me nervous Around the Web CNN Mnuchin: White House won't rule out a second term for Fed's Janet Yellen Bloomberg Mnuchin Says Ultra-Long Bond Program Wouldn't Be a One-Off Market Watch The Fed: Fed's Evans suggests his support for another rate hike is no slam dunk Federal Reserve Federal Reserve Board announces termination of enforcement action with JP Morgan Chase & Co. CoreLogic CoreLogic Reports Mortgage Credit Risk Edges Up Slightly HUD HUD Report Calls for Greater Action to Reduce Injuries to Seniors in the Home CNBC Lennar's profit beats as home sales gain steam Market Watch Fed's Fischer says he's worried memories are fading about housing's pivotal role in financial crisis 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

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