Mortgage rates remained in a very narrow range near their highest levels in roughly 3 months today. If you're into splitting hairs, we could discuss the fact that the average lender is charging microscopically lower closing costs for the same rates quoted yesterday, but most borrowers won't even see a change in rate quotes. The sideways momentum isn't all too surprising given that the week's biggest potential market movers are all coming out over the next 3 days. The past 2 days, then, have been a nice reprieve from the consistently higher rates seen since June 27th. But undertand the reprieve is not necessarily an indication of a reversal. Even if the coming days end up helping rates, there are lingering risks regarding the European Central Bank (ECB) policy announcement on July 20th. It's

July 11, 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 Jul 11, 2017 Glimmer of Hope in Rate Stability, But It Could Be a Trap Tue, Jul 11, 2017 3:44PM Mortgage rates remained in a very narrow range near their highest levels in roughly 3 months today. If you're into splitting hairs, we could discuss the fact that the average lender is charging microscopically lower closing costs for the same rates quoted yesterday, but most borrowers won't even see a change in rate quotes. The sideways momentum isn't all too surprising given that the week's biggest potential market movers are all coming out over the next 3 days. The past 2 days, then, have been a nice reprieve from the consistently higher rates seen since June 27th. But undertand the reprieve... (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 99.72 0.00   95.05 99.96 UMBS 30YR 5.5 101.10 +0.00   97.47 101.28 10 YR Treasury 4.023 -0.006   3.932 4.780 MBS Live Recap: Volatility in a Micro Range Thanks to Quiet Conditions Tue, Jul 11, 2017 4:41PM Quite simply, markets are waiting for the last 3 days of this week before gleaning any "takeaways" about the current state of financial markets, the economy, inflation, or Fed policy.  Everything over the 1st 2 days of the week has therefore amounted to a pre-game show --and not a very exciting one at that.   For the most part, bond yields have ... (read more) MBS Price Change UMBS 4.5 97.73 -0.02 UMBS 5.0 99.72 0.00 UMBS 5.5 101.09 0.00 GNMA 4.5 97.75 +0.00 GNMA 5.0 99.96 +0.02 GNMA 5.5 101.00 +0.07 Pricing as of: 10/16 9:04AM EST US Treasury Yield Change 2 YR Treasury 3.498 -0.002 5 YR Treasury 3.615 -0.005 7 YR Treasury 3.799 -0.006 10 YR Treasury 4.022 -0.007 30 YR Treasury 4.613 -0.013 Pricing as of: 10/16 9:04AM EST Other News Builders Point Out Silver Lining in Fewer Job Openings Tue, Jul 11, 2017 3:40PM The Bureau of Labor Statistics monthly Job Openings and Labor Turnover Survey (JOLTS) for May showed fewer job openings than analysts had expected, 5.67 million (a seasonally adjusted annual number), well below the lowest estimates of 5.90 million and the second lowest number of the year. It wasn't all bad news however. JOLTS balances job openings with hirin... (read more) Decline in Delinquencies Expected to Continue Tue, Jul 11, 2017 11:54AM While the overall percentage of non-current mortgage loans declined over the 12 months that ended in April, there was an uptick of those in the early stages of delinquency. CoreLogic's Loan Performance Insights Report for April notes a half-point decline in the overall mortgage delinquency rate, to 4.8 percent. In April 2016 the rate, which includes loans 30... (read more) Prepayment Rate Held Even as Refi's Declined Tue, Jul 11, 2017 9:34AM Black Knight's current Mortgage Monitor notes that refinances are increasingly being driven by a cash-out rather than interest rate motives both because home prices have so substantially increased household equity - tappable equity now is estimated at $5 trillion - and rates have trended higher. In a separate section of the Monitor , Black Knight merges that... (read more) Upcoming Training and Events; Sindeo Back; Survey Strategy Tue, Jul 11, 2017 9:21AM Besides 7/11 being “Free Slurpee Day,” we’re in the middle of “home buying season” (if there are actually listings) and loan officers are currying the favor of real estate agents coast to coast. Just how far will a real estate agent go to seal a sale in New York? Here are some tips LOs can give agents for selling properties. Upc... (read more) Latest Video Fed Governor Lael Brainard: Not much more to do if neutral rate at zero Wholesale inventories pop for the month of May Donald Trump Jr. releases email exchange that led to meeting with Russian l... Around the Web CNBC Fed's Kashkari says wages will rise when labor is truly scarce Reuters HSBC, UBS settle U.S. rate-rigging litigation; total payout tops $408 million CNBC Dollar weakens, bonds higher in safety play after Trump Jr. releases emails CNBC Fed's Brainard: Balance sheet runoff 'soon,' but rate hikes in doubt Reuters FDIC may revive three U.S. bank lawsuits over soured mortgage debt NAHB Eye on Housing Open Construction Jobs Fall in May Market Watch Treasury yields hold their ground as investors await Yellen testimony Calculated Risk Blog BLS: Job Openings Decreased in May CNBC US wholesale inventories post largest gain in 5 months Market Watch Sen. Cotton starts process to reverse CFPB arbitration rule Bloomberg Dimon Says Unwinding QE May Be More Disruptive Than You Think CoreLogic CoreLogic Reports Mortgage Performance Continues Steady Improvement in April 2017 CNBC US Treasurys edge lower as bond investors eye data, Fed speeches

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