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: Mortgage Rate Watch Mortgage Rates Finally Catch a Break 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-... (read more) Housing News Redfin is Going Public; Acknowledges "Flipping" Subsidiary 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 ... (read more) Housing News CoreLogic HPI Loses a Bit of Momentum 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 ... (read more) Rob Chrisman State-level Changes to Licensing, Servicing; Capital Markets 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 th... (read more) MBS Commentary MBS Live Day Ahead: Looking for Signs of Support Amid Muted Data 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 Commentary MBS Live Recap: Early Close Couldn't Come Early Enough 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 wi... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 3:18AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 3:18AM EST 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

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