Mortgage rates held steady today, which leaves them in line with the lowest levels in July. In underlying bond markets (bond movement directly impacts lenders' rate offerings), it was an exceptionally quiet day--especially for mortgage-related bonds. Activity should increase somewhat as the week progresses. That's a typical pattern for most weeks--all other things being equal (Mondays and Fridays tend to be slower)--but we'll also get events that tend to draw out more participation among traders. The most obvious calendar item is the Fed Announcement on Wednesday. Keep in mind, there are two different varieties of Fed Announcements. Of the 8 announcements each year, 4 of them are accompanied by a press conference with the Fed Chair, as well as economic projections. Whether by design or otherwise

July 24, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jul 24, 2017 Rates Begin Week Unchanged at July's Lows Mon, Jul 24, 2017 4:23PM Mortgage rates held steady today, which leaves them in line with the lowest levels in July. In underlying bond markets (bond movement directly impacts lenders' rate offerings), it was an exceptionally quiet day--especially for mortgage-related bonds. Activity should increase somewhat as the week progresses. That's a typical pattern for most weeks--all other things being equal (Mondays and Fridays tend to be slower)--but we'll also get events that tend to draw out more participation among traders. The most obvious calendar item is the Fed Announcement on Wednesday. Keep in mind, there are two d... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Week Ahead: Fed Announcements are Major Events, but Probably Not This Week's Mon, Jul 24, 2017 10:03AM In March 2011, the Fed announced it would change things up with respect to its policy announcements.  Although there would still be 8 of them each year, 4 of those would now include "economic projections" from FOMC members (forecasts and the i... (read more) MBS Live Recap: Bonds Extend Gains in Super Quiet Conditions Fri, Jul 21, 2017 6:09PM As expected, today could be better characterized as a highly-regulated narcotic sleep aid than an interesting trading day for bond markets.  The dreams were sweet, at least, with 10yr yields drifting down to their best levels of the month--just under 2bps lower at 2.238%  Fannie 3.5 MBS were up by an eighth of a point in the afternoon, but pulled b... (read more) MBS Price Change UMBS 5.0 99.52 -0.25 UMBS 5.5 101.15 -0.13 UMBS 6.0 102.47 -0.07 GNMA 5.0 99.88 -0.19 GNMA 5.5 101.12 -0.07 GNMA 6.0 102.09 -0.09 Pricing as of: 9/9 12:04PM EST US Treasury Yield Change 2 YR Treasury 3.539 +0.051 5 YR Treasury 3.608 +0.046 7 YR Treasury 3.812 +0.044 10 YR Treasury 4.084 +0.044 30 YR Treasury 4.734 +0.044 Pricing as of: 9/9 12:04PM EST Other News Fannie/Freddie Joint Venture Flying Too Far Under Radar -UI Mon, Jul 24, 2017 11:35AM Most of the major proposals for reforming the housing finance system rely on two steps to minimize the risk that any one or two institutions, and in today's environment that would mean the GSEs Fannie Mae and Freddie Mac, can pose to the mortgage market. Current proposals require that any institution that issues mortgage-backed securities guaranteed by the g... (read more) Existing Home Sales Weakness Blamed on Same Old Problem Mon, Jul 24, 2017 11:30AM Existing home sales slipped in June, with the blame again placed on low levels of inventory . The decline in sales, announced on Monday by the National Association of Realtors® (NAR), was anticipated, as pending home sales have decreased in each of the previous three months, ticking down by 0.8 percent in May. NAR said sales of existing single-family hou... (read more) Lender Fee and Pricing Changes; CFPB Suit Dismissed, HMDA webinar Mon, Jul 24, 2017 9:10AM What should lenders and loan officers be concerned about? What’s threatening their livelihood, besides all cash buyers, venture capital firms buying houses for rentals, and Baby Boomers staying put with their 3.5% 30-year mortgages? How about www.MyMortgageAuction.com? Lenders bid on borrower's deals. Or how about ResMac's home loan automation tool Len... (read more) Latest Video Trading Nation: Dollar hits 1-year low This house had 22 offers. Here’s why the owners didn’t take the highest June existing home sales at 5.52 million vs. 5.6 million estimate Around the Web Bloomberg Balance Sheet in Focus Ahead of Fed Meeting CNBC Echoes of 1994 bond meltdown stoke market's Fed fear CNBC Fed will likely focus on low inflation but leave rates alone Market Watch ETF Focus: Investors withdraw from long-dated Treasurys ETF PR Newswire June Construction Starts Climb 4 Percent Bloomberg Draghi's Master Plan Keeps Summer Rates Volatility Suppressed Federal Reserve Federal Reserve commends efforts as Faster Payments Task Force concludes Calculated Risk Blog NAR: "Existing-Home Sales Retreat 1.8 Percent in June" CNBC US Treasurys mixed as bond investors await data, oil meeting NY Times U.S. Foresaw Better Return in Seizing Fannie and Freddie Profits Reuters Federal Reserve now faces prospect of global monetary policy tightening NAR - Realtor.com Meet Your New Landlord: Wall Street CNBC Weak mortgage income hurts US regional lenders

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