Mortgage rates moved modestly higher today despite bigger movement in underlying bond markets. In part, this is a byproduct of the way rates behaved at the end of last week, when lenders didn't adjust rates lower as quickly as bond market strength would have suggested. In short, rates are playing it closer to the vest while the bonds that underlie and inform rate movement have been a bit more volatile. Bonds and rates frequently react to economic reports and other news that speaks to the health of the economy or the rate-setting policies of the Federal Reserve. Although we did have a key report on new home construction and several speakers from the Fed today, rates were preoccupied with less overt motivations. One example would be bond traders who decided to sell bonds today simply because

October 18, 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 18, 2017 Mortgage Rates Rise Only Modestly Despite Market Weakness Wed, Oct 18, 2017 4:13PM Mortgage rates moved modestly higher today despite bigger movement in underlying bond markets. In part, this is a byproduct of the way rates behaved at the end of last week, when lenders didn't adjust rates lower as quickly as bond market strength would have suggested. In short, rates are playing it closer to the vest while the bonds that underlie and inform rate movement have been a bit more volatile. Bonds and rates frequently react to economic reports and other news that speaks to the health of the economy or the rate-setting policies of the Federal Reserve. Although we did have a key repor... (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 99.69 +0.02   95.05 99.96 UMBS 30YR 5.5 101.10 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Day Ahead: Time For That Mid-October Craziness in Bonds Wed, Oct 18, 2017 9:43AM Ah mid-October... All too often in the 2009-2014 time frame, we'd seen abrupt reversals of trends at this time of month.  We haven't really been on the lookout for that old behavior because 2014 seemed to mark a shift in that trend. ... (read more) MBS Live Recap: Bonds Scramble Back to Unchanged, Leaving Outlook Cloudy Tue, Oct 17, 2017 4:52PM Treasuries and MBS have spent the past 2 days trading well inside the range set by last Friday's volatility (big rally following CPI data).  Unfortunately, the central tendency during those 2 days has been toward moderately weaker levels.  This casts some doubt on what looked like a clear signal on Friday, but it's too soon to rule out additional... (read more) MBS Price Change UMBS 4.5 97.75 +0.06 UMBS 5.0 99.72 +0.04 UMBS 5.5 101.09 +0.01 GNMA 4.5 97.73 +0.03 GNMA 5.0 99.94 +0.11 GNMA 5.5 100.95 +0.05 Pricing as of: 10/15 6:00PM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.017 5 YR Treasury 3.620 +0.015 7 YR Treasury 3.805 +0.006 10 YR Treasury 4.029 +0.001 30 YR Treasury 4.627 -0.004 Pricing as of: 10/15 6:00PM EST Other News Housing Starts Still Under The Weather; Single-Family Permits on The Mend Wed, Oct 18, 2017 9:58AM The U.S. Census Bureau is mum on causation, but results from the southern region would indicate that the August and September hurricanes probably drove declines in both housing permits (except those for single-family residences) and housing starts in September. Both were down by over 4 percent compared to their August numbers, although housing starts had pre... (read more) Mortgage Applications Regain Footing Wed, Oct 18, 2017 9:12AM The volume of mortgage applications increased last week for the first time since early September. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 3.6 percent on a seasonally adjusted basis during the week ended October 13. It did decline 7 percent on an unadjusted basis from the week ended October 6, a w... (read more) Hurricanes Impact on Housing Could Last Wed, Oct 18, 2017 9:51AM Fannie Mae has lowered its third quarter projections for GDP growth by 0.2 percent to an annualized 2.4 percent based on its assessment of the overall impacts of the recent hurricanes. The company's Economic and Strategic Research (ESR) Group says the storms appeared to have slowed consumer spending growth and dragged modestly on consumer and business confid... (read more) Latest Video Fed likely to stick to gradual hikes: Evercore's Krishna Guha Treasurys on the move Investors don't know how to price in tax reform right now: JPMorgan's Jack ... Around the Web Market Watch Here's how the Fed is flattening the yield curve Calculated Risk Blog Fed's Beige Book: "Modest to moderate"expansion, Labor markets "Tight" NAR - Realtor.com Why Fewer New Homes Are on the Horizon Despite the Housing Shortage CNBC Why the market is wrong about John Taylor, who Trump might make the Fed chief consumerfinancemonitor.com CFPB further updates HMDA Rule guidance materials CNBC Bond market flashing warning sign even as stocks rally to new highs Calculated Risk Blog AIA: Architecture Billings Index "Backslides Slightly" in September PR Newswire California housing market eases into fall homebuying season, C.A.R. Reports CNBC 'The housing market can't take the shock of a natural event,' real estate economist warns Market Watch Bond Report: 2-year Treasury yield hits fresh 2008 high as prospect of December hike looms CNBC Rising seas threaten nearly $1 trillion worth of US homes, and most are moderately priced: Zillow Reuters U.S. housing starts fall to one-year low CNBC Mnuchin: The stock market will see 'significant' drop if tax reform doesn't pass

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