Mortgage rates had been rising at an uncomfortable pace since June 27th. As of Monday, the average conventional 30yr fixed rate quote was 0.125% higher in 5 business days. That's a fairly abrupt move--especially when compared with almost any other 5-day stretch. In any event, it was the biggest 5-day move seen since the Presidential election. Today was the first day that bond markets (which dictate rates) were able to fight back . The distinction is important today because, while bond markets improved slightly, not all lenders are offering lower rates than those seen on Monday. This has a lot to do with the timing of Monday's bond market losses. In short, bonds were weakening on Monday, but many lenders didn't go to the trouble of raising rates in the middle of the day. As such, they got caught

July 5, 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 Jul 5, 2017 Mortgage Rates Finally Catch a Break Wed, Jul 5, 2017 4:15PM Mortgage rates had been rising at an uncomfortable pace since June 27th. As of Monday, the average conventional 30yr fixed rate quote was 0.125% higher in 5 business days. That's a fairly abrupt move--especially when compared with almost any other 5-day stretch. In any event, it was the biggest 5-day move seen since the Presidential election. Today was the first day that bond markets (which dictate rates) were able to fight back . The distinction is important today because, while bond markets improved slightly, not all lenders are offering lower rates than those seen on Monday. This has a lot ... (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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Day Ahead: Looking for Signs of Support Amid Muted Data Wed, Jul 5, 2017 9:08AM Today is light in terms of scheduled economic data and events.  This will change rapidly over the next 2 days (ADP/ISM services tomorrow, followed by NFP Friday).  That leaves today as a sort of pre-game warm-up before traders get back ... (read more) MBS Live Recap: Early Close Couldn't Come Early Enough Mon, Jul 3, 2017 3:02PM Bond markets closed early today (2pm ET) in observance of tomorrow's Independence Day holiday (and will be fully closed tomorrow).  Fans of low rates would have preferred a full closure today as well.  Although bond markets began the day with a decent rally into modestly positive territory, trading screens turned red after the ISM Manufacturing d... (read more) MBS Price Change UMBS 5.0 99.74 +0.27 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.09 +0.27 GNMA 5.5 101.22 +0.09 GNMA 6.0 102.16 +0.02 Pricing as of: 9/8 4:51PM EST US Treasury Yield Change 2 YR Treasury 3.495 -0.023 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.771 -0.030 10 YR Treasury 4.042 -0.045 30 YR Treasury 4.687 -0.083 Pricing as of: 9/8 4:51PM EST Other News Redfin is Going Public; Acknowledges "Flipping" Subsidiary Wed, Jul 5, 2017 12:07PM Redfin, the Seattle-based real estate brokerage (among other things) company is expected to soon take its place on the Nasdaq. The company filed a long awaited initial public offering (IPO) last week with a debut expected late this month or in early August. Redfin says it hopes to raise $100 million, a figure that Katie Roof, writing in TechCrunch, said was ... (read more) CoreLogic HPI Loses a Bit of Momentum Wed, Jul 5, 2017 10:20AM Home prices ratcheted down their rate of gains in May, although as they say, it is all relative. After jumping by 1.6 percent in both March and April, and posting a 6.8 percent annual gain in April the CoreLogic Home Price Index backed down to a 1.2 percent monthly increase in May, and 6.6 percent year over year. It was the second consecutive decrease in the... (read more) State-level Changes to Licensing, Servicing; Capital Markets Wed, Jul 5, 2017 9:31AM The U.S. Treasury Department recently issued a report titled “A Financial System That Creates Economic Opportunities-Banks and Credit Unions.” In addition to recommended changes for the CFPB, the report devotes substantial attention to the residential mortgage industry – from the primary to the secondary markets . Hey, and if one tires of U... (read more) Latest Video Trading 10-year bonds Market ready for Fed to reduce balance sheet: Pro Factory orders in May come in slightly lower than forecasted Around the Web CNBC Some Fed officials are concerned stock prices may be too 'high' CNBC Fed minutes: Inflation to rise; loose policy posing risks Calculated Risk Blog Office Vacancy Rate and Office Investment Bloomberg Pimco's Kiesel on the Federal Reserve and Markets NAR - Realtor.com Fast Track to Skyrocketing Real Estate Prices: The New Public-Transit Effect CoreLogic CoreLogic US Home Price Report Shows Prices Up 6.6 Percent in May 2017 federalregister.gov 2018-2020 Enterprise Housing Goals Bloomberg HSBC Said in Talks With US to End Crisis-Era Mortgage Probe Bloomberg El-Erian Says Bet on Emerging Markets Due to Better Valuations - Bloomberg CNBC Market top coming because Fed's easy money 'no longer politically acceptable', Bank of America says CNBC ISM manufacturing index hits 57.8 in June; construction spending unchanged in May Reuters Central bankers want communication, not coordination CNBC US Treasurys edge lower as bond investors focus on data, auctions

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.