Mortgage rates haven't done much over the past few days, with the average lender offering substantially similar quotes every day in October. Depending on your perspective, that could be good or bad. On the positive side, the lack of movement means that clear trend toward higher rates in September is at least taking a breather. On the negative side, it means rates have been holding near the highest levels in 2 months. It's not clear what it will take for this stagnation to lift. It IS clear that it wasn't today's Fed Minutes. The Fed releases official policy statements 8 times a year. 3 weeks after each of those, the Fed follows up by releasing the Minutes for those meetings, which provide additional detail about their decision making process and the differing views of the various Fed members

October 11, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 11, 2017 Mortgage Rates Stay Stubborn Wed, Oct 11, 2017 3:44PM Mortgage rates haven't done much over the past few days, with the average lender offering substantially similar quotes every day in October. Depending on your perspective, that could be good or bad. On the positive side, the lack of movement means that clear trend toward higher rates in September is at least taking a breather. On the negative side, it means rates have been holding near the highest levels in 2 months. It's not clear what it will take for this stagnation to lift. It IS clear that it wasn't today's Fed Minutes. The Fed releases official policy statements 8 times a year. 3 weeks a... (read more) Mortgage Rates Little-Changed Near 4% Tue, Oct 10, 2017 4:07PM Mortgage rates were marginally lower today compared to last week, but only when factoring in upfront finance charges. Actual quoted interest rates have been unchanged for more than a week with the average lender quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. For the bond markets that underlie mortgage rates, it was a three-day weekend, and it showed. There were no relevant economic reports and very little by way of market-moving news or events. That will change later this week when we'll receive several important reports, including a key inflation reading on Friday. In ge... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.77 +0.05   95.05 99.96 UMBS 30YR 5.5 101.14 +0.04   97.47 101.28 10 YR Treasury 4.019 -0.011   3.932 4.780 MBS Live Day Ahead: Not Much to be Learned From Fed Minutes Wed, Oct 11, 2017 8:50AM On both MBS Live and Mortgage News Daily, there's a video in the news stream titled "Key things to watch in the Fed minutes."  The commentator rather emphatically says there are 3 important things: " inflation, inflation, and inflation ."   News flash to that guy: there's nothing the Fed can say about inflation that we haven't already heard... (read more) MBS Live Recap: Early Gains Nearly Erased by PM Weakness Tue, Oct 10, 2017 4:49PM Bonds struggled to find a theme in their first trading day back from a 3-day weekend.  Much of the international focus was on Catalonia's quest for independence, but headlines from the region never seemed to have a material impact on bond markets-- especially US bond markets.   In fact, it was a downright slow and boring session until rough... (read more) MBS Price Change UMBS 4.5 97.79 +0.03 UMBS 5.0 99.77 +0.05 UMBS 5.5 101.14 +0.04 GNMA 4.5 97.79 +0.05 GNMA 5.0 100.00 +0.07 GNMA 5.5 101.03 +0.10 Pricing as of: 10/16 12:34AM EST US Treasury Yield Change 2 YR Treasury 3.486 -0.015 5 YR Treasury 3.605 -0.015 7 YR Treasury 3.791 -0.014 10 YR Treasury 4.018 -0.011 30 YR Treasury 4.619 -0.008 Pricing as of: 10/16 12:34AM EST Other News Refinancing Drives Application Volume Lower During Quiet Week Wed, Oct 11, 2017 8:18AM The Mortgage Bankers Association (MBA) said mortgage applications were down during the week ended October 6, falling 2.1 percent from the previous week on a seasonally adjusted basis and 2 percent unadjusted. The downturn in MBA's Market Composite Index, which measures application volume, was primarily due to fewer applications for refinancing. The Refinanci... (read more) CA Fire Declaration, Lender and Investor Disaster Updates/Resources Wed, Oct 11, 2017 9:44AM I mentioned yesterday that 6,762 institutions took a residential loan application in 2016, per Richey May’s HMDA dashboard data. For perspective, the 2007 HMDA data shows that 8,610 lenders took at least 1 application that year, which probably doesn’t include those that went belly up before filing HMDA data…a drop of roughly 2,000 lenders ... (read more) Latest Video Money Strong president: Fed minutes validate December rate hike Fed: Increase in rates likely to be warranted Central banks have really distorted the markets: WBI Investments' Don Schre... Around the Web Market Watch Stock market notches trifecta of all-time highs as Fed minutes hint at gradual rate hikes Bloomberg House Panel's Dodd-Frank Tweaks Won't Add Up to 'a Big Number' CNBC Rent in San Francisco, but buy in Detroit NAHB Eye on Housing Construction Job Openings Reach New Cycle High CNBC Fed minutes: December rate hike all but certain despite low inflation Federal Reserve Minutes of the Federal Open Market Committee, September 19-20, 2017 NAR - Realtor.com Does Rent Control Impact Crime Rates? These Economists Have the Answer Reuters U.S. House panel approves $36.5 billion for disaster relief NPR Fed's Departing Vice Chair On Stocks, The Federal Debt And Transparency Freddie Mac Freddie Mac Prices Last Planned High LTV Deal of the Year CNBC How Trump tax plan would alter mortgage interest deduction Calculated Risk Blog BLS: Job Openings Decreased Slightly in August PR Newswire California Homeowners in Default Now Able to Submit Loan Modification Applications

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