Mortgage rates have been so little-changed in recent days that yesterday's coverage wouldn't need to be changed in order to apply perfectly today. Indeed, the 3rd paragraph is a word-for-word repeat. To be fair though, we would need to update yesterday's reference to "especially over the past 5 days." That "5" would now be a "6," obviously. Any detectable difference in today's rate quotes would come in the form of slightly lower upfront costs versus yesterday. The actual interest rate quote remains unchanged. This sideways trend could easily continue for several more days. 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 been any better. 4.0% is the most prevalently-quoted conventional

June 22, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jun 22, 2017 Mortgage Rates Sideways to Slightly Lower Thu, Jun 22, 2017 3:50PM Mortgage rates have been so little-changed in recent days that yesterday's coverage wouldn't need to be changed in order to apply perfectly today. Indeed, the 3rd paragraph is a word-for-word repeat. To be fair though, we would need to update yesterday's reference to "especially over the past 5 days." That "5" would now be a "6," obviously. Any detectable difference in today's rate quotes would come in the form of slightly lower upfront costs versus yesterday. The actual interest rate quote remains unchanged. This sideways trend could easily continue for several more days. The absence of chang... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.69 +0.02   95.05 99.96 UMBS 30YR 5.5 101.10 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Recap: Bonds Modestly Stronger, But Sideways Theme Remains Thu, Jun 22, 2017 4:43PM Yesterday's recap went into some detail about the market phenomenon that can result in intense periods of sideways momentum (and trader apathy) during certain weeks of certain summertime months.  Long-story short, this week was a great candidate for what some market participants refer to as the summer doldrums, and so far it is not disappointing. Ba... (read more) MBS Price Change UMBS 4.5 97.76 +0.07 UMBS 5.0 99.73 +0.05 UMBS 5.5 101.10 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.96 +0.13 GNMA 5.5 100.97 +0.07 Pricing as of: 10/15 6:03PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.013 5 YR Treasury 3.619 +0.015 7 YR Treasury 3.803 +0.005 10 YR Treasury 4.031 +0.002 30 YR Treasury 4.625 -0.005 Pricing as of: 10/15 6:03PM EST Other News FHFA Home Prices Continue Strong Gains Thu, Jun 22, 2017 9:38AM April data from the Federal Housing Finance Agency (FHFA) indicates that, once again, there was no moderation in the pace of home price increases . FHFA's Housing Price Index (HPI), which is based on loans sold to or guaranteed by the two GSEs, Fannie Mae and Freddie Mac, increased 0.7 percent from March. Further, the March Index, originally reported to have... (read more) Prepayment Rate and Refinanceable Population Have Both Soared Thu, Jun 22, 2017 9:18AM Prepayments, apparently spurred by the recent retreat in interest rates, soared in May. Black Knight Financial Services, in its "first look" at the month's mortgage performance data, said there was a 23 percent increase in prepayments, historically a good indicator of refinancing activity , from April to May, bringing the incidence to the highest so far in 2... (read more) Purchase Loans, Closing Rates Improved in May Thu, Jun 22, 2017 9:17AM Originations are increasingly tilted toward home purchase mortgages per the latest Origination Insight Report from Ellie Mae. The May data show the share of those mortgages gained another three percentage points to represent 68 percent of all closed loans. The share of refinance originations has dropped from 47 percent at the beginning of 2017 to a current l... (read more) Multiple Vendor Updates; Internal Audit Service; Alight Raising Capital Thu, Jun 22, 2017 8:58AM This week’s Sindeo's closure reminds lenders of the basic premise: if you didn't make money in 2016, what makes 2017 any different? Your competitors won't wait for you. Correspondent, wholesale, and warehouse partners won't "look the other way" and be too lenient when there's a lot of money at stake. Trust but verify the financial soundness of your cou... (read more) Latest Video Falling mortgage rates and rising home prices make for attractive refinanci... 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