Mortgage rates held their ground yesterday. That was a refreshing development given the abrupt move higher over the past 2 weeks and a relatively threatening reaction to Wednesday's Federal Reserve events. Now again today, rates have managed to hold their ground. In some cases, lenders improved by token amounts. If yesterday was refreshing, today would be doubly so. But the refreshment comes with caveats . We don't really know what the natural direction would have been for rates today because underlying markets were clearly affected by overnight headlines regarding North Korea potentially testing an ICBM with a Hydrogen warhead in the Pacific Ocean. In general, these sorts of headlines lead investors to shed risk--something that frequently takes the form of selling stocks and buying bonds.

September 22, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Sep 22, 2017 Rates Show Resilience But Not Without Help Fri, Sep 22, 2017 4:27PM Mortgage rates held their ground yesterday. That was a refreshing development given the abrupt move higher over the past 2 weeks and a relatively threatening reaction to Wednesday's Federal Reserve events. Now again today, rates have managed to hold their ground. In some cases, lenders improved by token amounts. If yesterday was refreshing, today would be doubly so. But the refreshment comes with caveats . We don't really know what the natural direction would have been for rates today because underlying markets were clearly affected by overnight headlines regarding North Korea potentially test... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.17 +0.04   97.47 101.61 UMBS 30YR 6.0 102.43 +0.03   99.66 102.50 10 YR Treasury 4.063 -0.003   3.621 4.780 MBS Live Recap: After More Nuclear Headlines, Bonds Punt Fri, Sep 22, 2017 4:52PM Who knows how today's trading would have unfolded absent the overnight headlines that North Korea was planning to test an ICBM with a Hydrogen warhead in the Pacific Ocean.  This prompted a risk-off move early in the overnight session (stocks and bond yields lower).  After that, bonds seemed reluctant to challenge either side of the most recent r... (read more) MBS Price Change UMBS 5.0 99.68 +0.04 UMBS 5.5 101.17 +0.04 UMBS 6.0 102.43 +0.03 GNMA 5.0 100.01 +0.01 GNMA 5.5 101.15 +0.02 GNMA 6.0 102.03 +0.02 Pricing as of: 9/15 6:58AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.001 5 YR Treasury 3.622 -0.008 7 YR Treasury 3.809 -0.007 10 YR Treasury 4.060 -0.006 30 YR Treasury 4.681 -0.001 Pricing as of: 9/15 6:58AM EST Other News Rates Rise but Refi Share Unchanged Fri, Sep 22, 2017 12:26PM Refinancing accounted for 35 percent of all mortgages originated in August, unchanged from July, but down from 47 percent at the beginning of the year. Ellie Mae's says, in its Origination Insight Report for the month, that refinancing is holding up especially well among conventional loans where the share ticked up 2 percentage points from July to 42 percent... (read more) UI Praises HARP Benefits, Lessons Fri, Sep 22, 2017 11:14AM Sometimes government gets it right. The Urban Institute (UI) clearly thinks that the Home Affordable Refinance Program, at least in its second iteration , was one of those times. The history of HARP, as the program is known, is the subject of a post in UI's Urban Wire blog credited to four UI analysts*. They say that, before 2009, borrowers who had little or... (read more) Home Equity Increases, Average Gains Vary Wildly Fri, Sep 22, 2017 9:18AM Rising home prices continue to fuel fast growth in household equity. CoreLogic said on Thursday that owners of mortgaged properties in the U.S. (roughly 63 percent of all homes) gained an aggregate of $766 billion in additional equity between the second quarter of 2016 and the same quarter this year. This is an increase of 10.6 percent in nationwide equity o... (read more) Agency Conforming Changes; Market Exec on Cost to Originate Fri, Sep 22, 2017 9:37AM Welcome to the autumn equinox. How about this? There have been no public CFPB enforcement actions or consent orders dealing with QM, ATR, or TRID. Zero, zip. Has the CFPB realized that companies are genuinely trying to adhere, and that having 100% TRID error-free originations is impossible? Or that that regulation through enforcement action is not a good ide... (read more) Latest Video Financial conditions won't tighten materially if Fed takes it slow: Fidelit... Investors eye market reaction to the Fed SEC reveals it was hacked in 2016 Around the Web Market Watch A rising share of Wall Street CFOs think this stock market is bubblicious' Market Watch Retirement Weekly: Should you use a reverse mortgage in retirement? 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