Mortgage rates were unchanged today, on average. Some lenders were slightly better, others were slightly worse, but none were very far from yesterday's latest levels. In fact, most prospective borrowers would see the exact same quote they saw yesterday. As was the case yesterday, an absence of movement isn't bad news, considering rates are in line with their lowest levels since November 2016. Today's key events were speeches from the leaders of the world's 2 biggest central banks: Janet Yellen (Fed) and Mario Draghi of the European Central Bank (ECB). Markets didn't have especially high hopes that these speeches would be earth-shattering and that instinct ended up being right on the money. Neither speaker shared any major revelation. In fact, both avoided commenting on monetary policy almost

August 25, 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 Aug 25, 2017 Mortgage Rates Little-Moved by Central Bank Speakers Fri, Aug 25, 2017 3:25PM Mortgage rates were unchanged today, on average. Some lenders were slightly better, others were slightly worse, but none were very far from yesterday's latest levels. In fact, most prospective borrowers would see the exact same quote they saw yesterday. As was the case yesterday, an absence of movement isn't bad news, considering rates are in line with their lowest levels since November 2016. Today's key events were speeches from the leaders of the world's 2 biggest central banks: Janet Yellen (Fed) and Mario Draghi of the European Central Bank (ECB). Markets didn't have especially high hopes ... (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 Day Ahead: J-Hole Doesn't Really Matter Fri, Aug 25, 2017 9:58AM I've waited until the day itself to abbreviate the Fed's Jackson Hole symposium with the beloved "J-Hole."  Pretty impressive considering how much fun it is to type/say "J-Hole."  For instance, if anything happens today that's bad for bonds... (read more) MBS Live Recap: Bonds Pretend Not to Care About Jackson Hole Thu, Aug 24, 2017 4:50PM Bond markets have been generally rallying since early July.  The apparent inspiration for that rally was the sell-off that preceded it.  That weakness was driven by several comments from European Central Bank (ECB) President Mario Draghi that alluded to a tapering of ECB bond buying after the program expires in December.  Markets know t... (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 7:05PM 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 7:05PM EST Other News CFPB Makes Temporary HELOC Reporting Threshold Official Fri, Aug 25, 2017 10:54AM In July, the Consumer Financial Protection Bureau (CFPB) said it was rethinking implementation of its rules changing reporting requirements for the Home Mortgage Disclosure Act (HMDA). The new rule was authorized in 2015, and will, for the first time , require community banks and credit unions to report information on home equity lines of credit (HELOC) lend... (read more) MBA Delinquency Data Setting Post-Crisis Records Thu, Aug 24, 2017 4:21PM The quarterly report from the Mortgage Bankers Association (MBA) based on its National Delinquency Survey seems like old times. MBA reports that most, if not all, of its performance data is back to pre-crisis levels. The mortgage delinquency rate, for example, was at its lowest since the second quarter of 2000 , 4.24 percent. That reflected a 47-basis point ... (read more) CFPB's HMDA Changes; LIBOR Substitute Proposal; Blend's Capital Raise Fri, Aug 25, 2017 10:51AM My boss arrived at work in a brand-new Lamborghini. I said, "Wow, that's an amazing car!” He replied, "If you work hard, put all your hours in, and strive for excellence, I'll get another one next year." Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to Seventy-eight percent of fu... (read more) Latest Video Draghi: Global recovery firming up Santelli Exchange: Fiscal vs. monetary policy Cashin: Don't expect surprises from Yellen or Draghi Around the Web CNBC ECB President Draghi warns of 'serious risk' to global economy from rising protectionism Reuters Yellen to Trump: don't expect a flip-flop on financial reforms Federal Reserve FEDS 2017-090: Improving the 30-Year Fixed-Rate Mortgage CNBC Fed's Powell says weak inflation is 'kind of a mystery' Freddie Mac Freddie Mac Confirms Disaster Relief Policies as Hurricane Harvey Approaches Texas builderonline.com Zillow 'Zestimates' Zurvive Zuit CNBC Economists are reading Janet Yellen's tea leaves on monetary policy Market Watch Yellen's speech in Jackson Hole may doom her chances for second term at Fed CNBC Here's how housing's woes could get worse Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency rate unchanged in July consumerfinancemonitor.com Another sign that Richard Cordray will resign soon, perhaps next week? Reuters Yellen: Financial rules have made economy stronger, changes should be 'modest' consumerfinancemonitor.com CFPB finalizes temporary increase of HMDA HELOC reporting threshold and other minor HMDA amendments

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