The housing industry has been looking for a slowdown in home price growth for several years, but quite the contrary has occurred. Black Knight Financial Services, in its current edition of its Mortgage Monitor , notes that the 1.3 percent monthly increase in its Home Price Index (HPI) in March was the highest in nearly four years, and that was followed by a 1.2 percent gain in April. Through the first four months of the year, prices were up 3.6 percent compared to 2.9 percent over the same period in 2016. When viewed on an annual basis, the increase is 60 basis points higher than the rate in December 2016. The year-to-date pace is the highest since 2013's gain of 4.1 percent. The trend is widespread. Prices have risen so far this year in every state but Maine and West Virginia and four, Washington

July 10, 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 10, 2017 Mortgage Rates Holding Near 3-Month Highs Fri, Jul 7, 2017 3:59PM Mortgage rates didn't move much higher today for most lenders. While that absence of additional weakness is "nice," the net effect is that rates remain in line with their worst levels since early April. Technically, there was a day or two in early May that were slightly worse, but not enough to consider today's rates anything other than "3-month highs." You'd be well within your rights to assume that the highest rates in 3 months must coincide with the all-important Employment Situation (aka "jobs report")--a consistent market-mover that is released on the first Friday of any given month. You'... (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 Week Ahead: Fairly Tame Econ Calendar, Yellen at Congress, and Ongoing EU Concerns Mon, Jul 10, 2017 9:51AM This week's economic calendar is fairly light, with no top tier reports until Thursday (Producer Prices) and Friday (CPI/Retail Sales).  For what it's worth, the Producer Price Index (PPI) typically isn't a major market mover, but I've lumped it... (read more) MBS Live Recap: Non-Existent Reaction to NFP Leaves Focus on Europe Fri, Jul 7, 2017 4:48PM NFP Friday is an institution for financial markets and especially the bond market.  No other piece of monthly economic consistently has as big of an impact.  Sure, there are occasions when we're not expecting jobs numbers to rock the boat, but in general, a 222k vs 187k beat (what we saw today)--especially following a downbeat 138 in the previous... (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 7:43PM 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 7:43PM EST Other News Black Knight Notes Disparity in Negative Equity Rates Mon, Jul 10, 2017 9:35AM The housing industry has been looking for a slowdown in home price growth for several years, but quite the contrary has occurred. Black Knight Financial Services, in its current edition of its Mortgage Monitor , notes that the 1.3 percent monthly increase in its Home Price Index (HPI) in March was the highest in nearly four years, and that was followed by a ... (read more) CFPB Updates Know Before You Owe Rule Fri, Jul 7, 2017 3:33PM The Consumer Financial Protection Bureau (CFPB) has announced final updates to it "Know Before You Owe" mortgage disclosure rule which went into effect on October 3, 2015. The changes are intended to formalize guidance on the rule and provide greater clarity and certainty. The amendments finalized on Friday address a handful of issues within the rule. Before... (read more) Warehouse, Compliance; More Changes for Lenders/Investors Mon, Jul 10, 2017 9:52AM Fannie/Freddie, Both Conforming and Conventional News In Freddie Mac news, "To ensure we continue to provide responsible financing options, we will change our requirements for Home Possible Mortgages , including Home Possible Advantage Mortgages. Gifts or grants from the Seller as the originating lender will only be permitted after a contribution of at least... (read more) Latest Video CFPB bans mandatory arbitration clauses Santelli Exchange: Nat'l Assoc. of Realtors call for mortgage liquidity fun... BlackRock's Richard Turnill sees three key themes for the next quarter Around the Web Bloomberg CFPB Releases Rule Making It Easier for Customers to Sue Banks NPR Wells Fargo To Pay $142 Million To Customers Hurt By Bogus Accounts consumerfinancemonitor.com CFPB issues policy guidance and technical corrections for mortgage servicing rule amendments Calculated Risk Blog Q2 Review: Ten Economic Questions for 2017 Reuters U.S households see spending up, job prospects improving: New York Fed survey Bloomberg Crisis Flashback: The Big Downgrade That Fueled a Subprime Crash Reuters U.S households see spending up, job prospects improving: New York Fed survey CNBC Average credit scores hit an all-time high NAHB Eye on Housing Builders Starting to Report Shortages of Framing Lumber CNBC Yellen and other Fed speakers dominate this summer week on Wall Street Market Watch Currencies: Dollar hits two-month high against yen as bond-yield gap exploited CNBC US Treasurys edge higher as bond investors focus on data, auctions Market Watch Forget conventional thinking: stock moves preclude bond moves, not the other way around

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