Mortgage rates recovered some of their recent losses today, with most lenders moving back into Wednesday's territory. The improvement followed another round of rumors regarding Trump's Fed Chair selection process. Specifically, Jerome Powell was indicated as the frontrunner this time around. Here's why that's important. The Fed Chair (a role currently filled by Janet Yellen) is perhaps the most important person in the world when it comes to interest rate movement. While the Fed will ultimately be forced to adapt its rate policy to economic conditions, so many of the ups and downs we experience along the way are driven by the Fed's decisions. And the Fed Chair has a disproportionate amount of control over those decisions compared to anyone else at the Fed. In short, don't think of the Fed as

October 27, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Oct 27, 2017 Rate Spike Pauses on Fed Chair Optimism Fri, Oct 27, 2017 3:11PM Mortgage rates recovered some of their recent losses today, with most lenders moving back into Wednesday's territory. The improvement followed another round of rumors regarding Trump's Fed Chair selection process. Specifically, Jerome Powell was indicated as the frontrunner this time around. Here's why that's important. The Fed Chair (a role currently filled by Janet Yellen) is perhaps the most important person in the world when it comes to interest rate movement. While the Fed will ultimately be forced to adapt its rate policy to economic conditions, so many of the ups and downs we experience... (read more) Mortgage Rates Are Moving Quickly Higher Thu, Oct 26, 2017 5:22PM Mortgage rates are in a bit of trouble, having moved higher at the fastest pace since late June in the past few days. If you've had occasion to read an update on mortgage rates from most major media outlets today, the news is actually worse than you've heard. The most widely-cited source on any given Thursday is Freddie Mac's weekly Primary Mortgage Market Survey. While accurate over time, it doesn't account well for day to day changes when things are volatile--especially if those changes occur between Wednesday and Friday. Unfortunately, Wed/Thu of this week have been worse than any other con... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.10 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Day Ahead: When Will The Bad Times Be Over? Fri, Oct 27, 2017 9:02AM Yesterday afternoon's MBS Recap is a good read if you want a longer and more philosophical version of what I'm about to write (click the link to read it).  The short version is quite simple .  Bond yields are in an uptrend, and they'll be ... (read more) MBS Live Recap: It's an Uptrend! Thu, Oct 26, 2017 7:13PM If you haven't seen Zoolander, you won't be familiar with Billy Zane declaring "It's a walk-off," thus beginning the runway modeling battle between Ben Stiller and Owen Wilson's characters.  It's not the best line in the movie and I don't think the movie swept the Oscars, but there was something about Zane's voice that conveyed finality, urgency, resign... (read more) MBS Price Change UMBS 5.0 99.48 +0.04 UMBS 5.5 101.09 +0.02 UMBS 6.0 102.40 +0.02 GNMA 5.0 99.77 +0.04 GNMA 5.5 101.04 0.00 GNMA 6.0 102.04 +0.06 Pricing as of: 9/10 6:08AM EST US Treasury Yield Change 2 YR Treasury 3.544 -0.024 5 YR Treasury 3.607 -0.020 7 YR Treasury 3.809 -0.023 10 YR Treasury 4.086 +0.002 30 YR Treasury 4.740 +0.005 Pricing as of: 9/10 6:08AM EST Other News ARMs Prove They Have Cleaned up Their Act Thu, Oct 26, 2017 12:49PM In August, MND published a summary of an analysis of the current state of the adjustable rate mortgage (ARM). CoreLogic's senior professional economist, Archana Pradhan, wrote that while the product's best days are behind it, the near demise is probably only temporary . The ARM share of mortgages, which reached a peak of 45 percent in mid-2005 now fluctuates... (read more) HELOC, M&A, and Bank Updates; Chapter 11 for Ditech's Parent? Fri, Oct 27, 2017 9:22AM The average age of a loan officer is 73. Okay, just kidding. But as anyone in the lending industry and others age, they begin to worry about things such as dementia. (Insert capital markets joke here.) Early detection is critical, and the University of Chicago reports that a simple test smelling 5 different odors of peppermint, fish, orange, rose and leather... (read more) Latest Video Lawmakers looking at raising 401(k) contribution limits to $20K What fueled the economy to 3% GDP? Economist weighs in Former Fed vice chair Alan Blinder weighs in on Fed chair frontrunners Around the Web Bloomberg Treasuries Gain After Report That Trump Is Leaning Toward Powell for Fed Chair Bloomberg Barclays and US Renew Talks Over Toxic Mortgages Lawsuit Bloomberg Weidmann Says ECB Should Have Set Clear End Date for Bond Buying CNBC How to know when you should drop the asking price on your home Market Watch Hurricanes only trimmed a few tenths from Q3 GDP growth: economists CNBC Rising home prices and stagnant wages have home buyers in a pickle Bloomberg Bond Volatility Shows Signs of Life as Rates Divergence Widens CNBC Trump is leaning towards Jay Powell for next Fed chair, but remains undecided: Source CNBC Consumer sentiment ticks down after hitting 7-month highs earlier in October Reuters Catalan parliament votes to start 'constituent process' to split from Spain Bloomberg It's Going to Stay a Yellen Fed No Matter Who Gets the Job Reuters U.S. economy likely slowed by hurricanes in third quarter CNBC Why volatility could suddenly return to the markets in November

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