Mortgage rates moved lower today on a combination of factors. Chief among these were headlines over the weekend concerning more North Korean weapons testing--specifically, a detonation of its largest bomb ever on Sunday followed by reports from South Korea of another ballistic missile test by the end of the week. The threat of global nuclear conflict pushes rates lower because the bond markets that underlie rates can benefit from fear and panic. Investors seeking safe havens often move money into bonds, where higher demand equates to lower rates. US Treasuries are more readily able to benefit from this sort of "flight-to-safety" trading than mortgage-backed-securities (or "MBS"), which have the most direct influence on mortgage rates. Indeed most mortgages are being quoted at the same rates

September 5, 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 Sep 5, 2017 Mortgage Rates Back in Line With 2017 Lows Tue, Sep 5, 2017 4:04PM Mortgage rates moved lower today on a combination of factors. Chief among these were headlines over the weekend concerning more North Korean weapons testing--specifically, a detonation of its largest bomb ever on Sunday followed by reports from South Korea of another ballistic missile test by the end of the week. The threat of global nuclear conflict pushes rates lower because the bond markets that underlie rates can benefit from fear and panic. Investors seeking safe havens often move money into bonds, where higher demand equates to lower rates. US Treasuries are more readily able to benefit ... (read more) Mortgage Rate Rally Stalls Despite Weak Jobs Report Fri, Sep 1, 2017 2:24PM Mortgage rates were sideways to slightly higher today despite a weak reading of the Employment Situation (aka "the jobs report"). This is traditionally the most influential piece of economic data on any given month as far as bond markets (which drive mortgage rates) are concerned. Recent intractability of inflation combined with several years of solid jobs gains have increasingly robbed this report of that historical influence. Don't get me wrong. The jobs report is still a big trading day for markets. It's just that we're not seeing bonds end up where past precedent would suggest. Specificall... (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: Strong Start on North Korea; Draghi Ahead; Corporate Deluge Tue, Sep 5, 2017 9:05AM Global financial markets moved away from risk to start the holiday-shortened week as more North Korean missile drama made the news over the weekend.  This time, South Korea warned of another ballistic missile test in the coming days/weeks, pro... (read more) MBS Live Recap: Bonds Drift Weaker as Traders Rush For Exits Fri, Sep 1, 2017 6:06PM We talk a lot about participation among traders dropping off at mid-day when European markets close, but today's version turned bond markets into a veritable ghost town .  Before that, yields had actually done a nice job of returning inside yesterday's trading range and under the 2.16% technical level after spiking early.  I'm inclined to (mostly)... (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 12 States Hit Price Peaks, 1 in 3 Metros are "Over-Valued" Tue, Sep 5, 2017 9:56AM Black Knight Financial Services put a coda on home price reports for June while CoreLogic opened the next round for July. Both report another round of strong price gains during their respective periods. Black Knight says its national-level Home Price Index (HPI) set another new record in June , rising 0.9 percent from May and 6.2 percent year-over-year. The ... (read more) Lender Disaster Aid; Training and Events Tue, Sep 5, 2017 9:29AM Welcome to the Monday-est Tuesday of the year. Hey, the cost to produce a home loan has fallen! Per the Mortgage Bankers Association, total loan production expenses decreased to $7,800 per loan in the second quarter of 2017 from $8,900 in the first quarter of 2017 for independent mortgage banks. The net gain was about $1,100. Wait...you want to make big buck... (read more) Latest Video Stocks extend losses to the 10-Year yield Home improvement outlook favorable: Bank of America What salaries can afford a median priced home in the US? 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