Mortgage rates resumed their recent uptrend today, after taking a quick break to end the week last Friday. The result is another push up to the highest levels in just over 3 weeks. The average scenario is being quoted rates that are about an eighth of a point higher compared to the lows seen in early September. The most prevalent top-tier conventional 30yr fixed rates still range from 3.875% to 4.0%, but the latter is increasingly in the spotlight. Context is important when it comes to this recent rate spike. The market movement that preceded it was arguably "too good," with rates benefiting from an unusual combination of geopolitical risk surrounding North Korea and event risk surrounding Hurricane's Harvey and Irma. It's not that markets responded to those events in unexpected ways--simply

September 18, 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 18, 2017 Mortgage Rates Continue Pushing Recent Highs Mon, Sep 18, 2017 3:55PM Mortgage rates resumed their recent uptrend today, after taking a quick break to end the week last Friday. The result is another push up to the highest levels in just over 3 weeks. The average scenario is being quoted rates that are about an eighth of a point higher compared to the lows seen in early September. The most prevalent top-tier conventional 30yr fixed rates still range from 3.875% to 4.0%, but the latter is increasingly in the spotlight. Context is important when it comes to this recent rate spike. The market movement that preceded it was arguably "too good," with rates benefiting f... (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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Recap: Weaker Start With No Major Scapegoats Mon, Sep 18, 2017 4:49PM Bonds got off to a weaker start on this Fed week, and there weren't any convenient scapegoats in sight.  That said, there were a few caveats.  Most notable, it was the 2nd lowest volume day of the year for Treasuries, and that's an environment that allows a smaller trading imbalance to have a bigger effect on prices and yields.  While we mig... (read more) MBS Price Change UMBS 5.0 99.75 +0.28 UMBS 5.5 101.25 +0.13 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.05 +0.22 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.13 -0.01 Pricing as of: 9/8 4:38PM EST US Treasury Yield Change 2 YR Treasury 3.494 -0.024 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.772 -0.029 10 YR Treasury 4.043 -0.044 30 YR Treasury 4.687 -0.082 Pricing as of: 9/8 4:38PM EST Other News Student Debt Undermining Millennial Homeownership Mon, Sep 18, 2017 12:21PM A new study is providing more evidence that student debt is disrupting the lifecycle of the housing market. The survey, conducted jointly by the National Association of Realtors (NAR) and the non-profit American Student Assistance (ASA), found that an overwhelming majority of millennials with student debt currently do not own a home. They blame this debt for... (read more) Irma Triples Harvey's Threat to Mortgage Lenders Mon, Sep 18, 2017 9:29AM In the literal wake of a second major hurricane in as many weeks, Black Knight Financial Services is again warning of some potentially disastrous outcomes for mortgage guarantors . The company issued a report on September 11 estimating there was the potential of losses to mortgaged properties in Texas and Louisiana at $179 billion from Hurricane Harvey. Now ... (read more) Builder Confidence Loses August Momentum Mon, Sep 18, 2017 10:36AM Hurricanes Harvey and Irma, which ravaged Texas and Florida respectively, are taking at least some of the blame for diminishing builder confidence in the new home market. The National Association of Home Builders (NAHB) said the NAHB/Wells Fargo Housing Market Index (HMI) dropped 3 points this month to 64. The August HMI was also revised down from 68 to 67. ... (read more) Latest Disaster Lender Updates; Morgan Stanley to Originate Mon, Sep 18, 2017 9:23AM Saturday's commentary contained a letter from a reader saying, "Dodd Frank may have added more systematic risk than anyone had previously considered, and the latest disasters in Florida and Texas bring that to light. Think about catastrophe bonds, PE firm investment wipeouts, and the mortgage finance business, i.e. AmeriHome and Athene. Could catastrophe bon... (read more) Latest Video DoJ investigating Equifax in criminal probe: Report Jim Paulsen: Market will continue going higher if we don't get inflation, i... Trump's opportunity to reshape the Fed: Morgan Stanley's Ruchir Sharma Around the Web CNBC Commentary: Why interest rates now matter even more than you think Market Watch Hey Fed boss Janet Yellen, inflation is still low and stocks are soaring. What say you? Calculated Risk Blog Early Read on Existing Home Sales in August HUD HUD Announces Disaster Assistance for Georgia Storm Victims NAR - Realtor.com Homes Built to Stricter Standards Fared Better in Storm CNBC Traders are getting ready for another Fed hike consumerfinancemonitor.com Ballard attorneys author article on CFPB arbitration rule feedproxy.google.com Student Debt Delaying Millennial Homeownership by 7 Years CNBC Hurricanes hit homebuilder confidence hard in September Reuters New York governor says Equifax, other credit reporting companies must register with state Bloomberg Don't Worry About ECB Stimulus Even After Bond Buying Stops builderonline.com Housing Market Evolves as Fewer Families Have Children Reuters In shedding bonds, Fed aims for boring end to crisis-era measures

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