Mortgage rates moved higher today, bringing the average lender back near 4% in terms of conventional 30yr fixed quotes for top tier scenarios. Most lenders were back in line with last Thursday's rates, which were the highest in roughly 2 months. In terms of day to day changes, nothing about the recent mortgage rate environment is terribly alarming . It's only when you add up each day's movement over the past 3-4 weeks that things look a bit more serious. During that time rates have risen as much as any other comparable period of time in nearly a year. The biggest concern would be that "this time is different" and that instead of bouncing back down into a calm, narrow range that's prevailed for most of 2017, rates continue back up into the 4's. It's still a bit too soon to start freaking out

October 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 Oct 5, 2017 Mortgage Rates Head Back Toward 4% Thu, Oct 5, 2017 3:02PM Mortgage rates moved higher today, bringing the average lender back near 4% in terms of conventional 30yr fixed quotes for top tier scenarios. Most lenders were back in line with last Thursday's rates, which were the highest in roughly 2 months. In terms of day to day changes, nothing about the recent mortgage rate environment is terribly alarming . It's only when you add up each day's movement over the past 3-4 weeks that things look a bit more serious. During that time rates have risen as much as any other comparable period of time in nearly a year. The biggest concern would be that "this ti... (read more) Mortgage Rates Still Holding Near Recent Highs Wed, Oct 4, 2017 2:19PM Mortgage rates were very slightly lower today, but not by enough to have an impact on the actual interest rates being quoted. Specifically, the "effective rate"--which factors upfront costs into an overall cost of financing is slightly lower due to changes in those upfront costs. But borrowers will be seeing the same interest rate at the top of the page on today's loan quotes compared to yesterday. In the bigger picture, rates are merely hovering around the highest levels in more than 2 months. Just 3 and a half weeks ago, they were at the best levels in more than 10 months. As dramatic as tha... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Another Potential Head-Fake, Or Turning Point Thu, Oct 5, 2017 8:49AM Yet again, bond markets have managed to string together 4 days doing something  other than selling off abjectly.  Without a firmer push toward lower yields, these strings of days "without pushing toward higher yields" are the first possibl... (read more) MBS Live Recap: Weaker ISM Data Keeps Bonds Guessing Wed, Oct 4, 2017 5:19PM Bond markets saw a decent amount of strength in the afternoon.  It ultimately allowed 10yr yields and MBS to return to positive territory by the end of the day, although they'd be best-characterized as merely "unchanged."  Who knows where trading levels would have shaken out were it not for the significantly stronger ISM non-manufacturing dat... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:01AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:01AM EST Other News NAHB and NAR Divided Over Mortgage Deduction Thu, Oct 5, 2017 11:19AM Is it time to bid farewell to an American-as-Apple-Pie tax deduction? Maybe. After 75 years of supporting it against all assaults, the National Association of Home Builders (NAHB) has abandoned its defense of the mortgage interest deduction (MID) one of the more sacred cows in the U.S. tax code. The National Association of Realtors (NAR) however is standing ... (read more) LO Products; Bank News - M&A; October Events and Training Thu, Oct 5, 2017 9:20AM One of my early jobs was digging fence post holes and picking up dropped nails for a builder in 100 degree heat. No one wants to do that anymore? In builder-land, chronic labor shortages are changing the way many firms recruit and compensate workers, according to a new AGC report . Lender News Student lender Earnest was purchased by Navient Corp., one of the... 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