Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning's levels. While that's not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages. Whereas 3.875% had been widely available on Monday morning, the most prevalently-quoted conventional 30yr fixed rate is now up to 4.0% for top tier scenarios, and 4.125% is rapidly gaining market share. Whereas the lock/float outlook had been calm and steady heading into this week, it quickly turned defensive as losses mounted. There are

June 30, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Worst Week For Mortgage Rates Since March Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point h... (read more) Housing News Does Refi Advertising Help or Hurt Borrowers and Lenders? "Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when they should wait, or by waiting when they should refinance." That is the working premise of a paper published as part of the Federal Reserve's Finance and Econ... (read more) Rob Chrisman Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders Huh? The year is half over? Didn’t 2017 just start? Time has a way of flying by. Via rocket ship. July starts tomorrow… and we hear of a new marketing idea. SoFi is offering a month’s worth of avocado toast to anyone who takes out ... (read more) MBS Commentary MBS Live Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions With bond yields so clearly lifting-off from their recent trend, today should be just another day to consider our relative demise.  Being bullish on bonds right now is akin to being dropped onto a battlefield and immediately finding yourself o... (read more) MBS Commentary MBS Live Recap: Bonds Might Have Done Even Worse if Not For Stocks If you follow equities markets much, you know that today was pretty ugly --especially for the tech sector.  In fact, most equities analysts are blaming the tech sector for the sell-off.  I might add that the notion of ECB tapering isn't a ... (read more) MBS Commentary MBS Live Recap: Bond Rout Continues With No Help From Month-End There is month-end bond buying and then there is month-end "position-squaring."  These are 2 different things.  Month-end bond-buying refers specifically to the phenomenon of money managers adjusting their holdings to match a specific bond ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.93 +0.09 Price / Yield Change MBS UMBS 5.5 99.93 +0.09 UMBS 6.0 101.64 +0.07 GNMA 5.5 100.08 +0.11 GNMA 6.0 101.49 +0.08 Pricing as of: 7/3 7:45AM EST 10 Year US Treasury 4.2582 -0.0216 Price / Yield Change US Treasury 2 YR Treasury 3.758 -0.030 5 YR Treasury 3.844 -0.024 7 YR Treasury 4.032 -0.024 10 YR Treasury 4.259 -0.021 30 YR Treasury 4.789 -0.020 Pricing as of: 7/3 7:45AM EST Latest Video Personal income up 0.4% in May Will markets rally or correct in the second half? Consumer sentiment index at 95.1 vs. 94.4 estimate Around the Web NAHB Eye on Housing Residential Fixed Investment Reaches Near-Decade High Bloomberg Wells Fargo Unsettles Mortgage Bond Market by Holding Back Funds CNBC Rising homeowner rates could have implications for renting Calculated Risk Blog Chicago PMI Increases in June, Highest in Three Years CNBC Consumer sentiment hits lowest level since November CNBC US consumer spending up just 0.1%, despite income gain builderonline.com Percentage of Homebuyers That Made an Offer Sight-Unseen Up From 2016 CNBC A Yellen replacement is unlikely to throw Fed off course, says Bullard consumerfinancemonitor.com Treasury report on U.S. financial system recommends extensive mortgage lending reforms consumerfinancemonitor.com House Appropriations Bill Seeks CFPB Reforms NAR - Realtor.com Could Your Property Be Worth More If You Tear Down Your Home? Calculated Risk Blog Reis: Office Vacancy Rate "flat" in Q2 at 16.0% CNBC Tax reform is coming in September, Trump economic advisor Gary Cohn says

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