While the National Association of Home Builders (NAHB) was fast out of the box yesterday, slamming the newly released Republican tax reform proposal, the National Association of Realtors® (NAR) issued a statement merely acknowledging release of the bill and saying it needed time for a review. It didn't take long. Before the close of business yesterday it released a statement from its President William E. Brown calling the proposed bill "a tax increase on middle-class homeowners" one that "threatens home values and takes money straight from the pockets of homeowners." Brown continued, "Realtors® believe in the promise of lower tax rates, but this bill is nowhere near as good a deal as the one middle-class homeowners get under current law. Tax hikes and falling home prices are a one-two

November 3, 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 Nov 3, 2017 Mortgage Rates Back to 2-Week Lows After Tax Plan Thu, Nov 2, 2017 5:52PM Mortgage rates improved moderately today following the release of the GOP tax bill and confirmation of Jerome Powell as Trump's Fed Chair nomination. "Confirmation" actually isn't quite the right word in this case because Powell actually does need to be technically "confirmed" by the Senate before he's officially the new Fed Chair. What we got today was simply confirmation that several weeks of rumors and press leaks were accurate. Bond markets (and thus, interest rates) had already moved in anticipation of the Powell nomination, and it ended up having limited impact by the time it became offi... (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 5.5 101.05 -0.02   97.47 101.61 UMBS 30YR 6.0 102.36 -0.02   99.66 102.50 10 YR Treasury 4.089 +0.006   3.621 4.780 MBS Live Day Ahead: Does NFP Matter? Fri, Nov 3, 2017 8:29AM On average, NFP (the "nonfarm payrolls" component of the Employment Situation report which also refers to the broader report itself) is the biggest market mover in the history of the world in terms of economic reports.  It generally doesn't go... (read more) MBS Live Recap: Tax Plan Overwhelms Markets, but Fails to Stir Much Reaction Thu, Nov 2, 2017 6:46PM Traders' eyes were far more burdened than their fingers (which push the "trade" button) today.  There was a ton of info to take in regarding the GOP's tax bill, but not much trading to be done in response.  While it was the biggest event of the day when first released this morning, the initial response was a quick "risk-off" move that favored bon... (read more) MBS Price Change UMBS 5.0 99.44 +0.00 UMBS 5.5 101.06 -0.01 UMBS 6.0 102.36 -0.01 GNMA 5.0 99.73 0.00 GNMA 5.5 101.01 -0.03 GNMA 6.0 102.01 +0.03 Pricing as of: 9/10 1:35AM EST US Treasury Yield Change 2 YR Treasury 3.553 -0.015 5 YR Treasury 3.614 -0.013 7 YR Treasury 3.814 -0.019 10 YR Treasury 4.088 +0.004 30 YR Treasury 4.732 -0.003 Pricing as of: 9/10 1:35AM EST Other News NAR Jumps into Tax Reform Fight; MBA Holds the Towel Fri, Nov 3, 2017 10:43AM While the National Association of Home Builders (NAHB) was fast out of the box yesterday, slamming the newly released Republican tax reform proposal, the National Association of Realtors® (NAR) issued a statement merely acknowledging release of the bill and saying it needed time for a review. It didn't take long. Before the close of business yesterday it... (read more) Industry Heads Agree on Explicit Government Guarantee for Fannie and Freddie Fri, Nov 3, 2017 10:14AM The second in a scheduled three-part hearing on Sustainable Housing Finance was held on Thursday by the Housing and Insurance subcommittee of the House Financial Services Committee (FSC). This hearing focused on "Private Sector Perspectives" on Housing Finance Reform. All of those testifying before the committee appeared to agree there should be an explicit ... (read more) MI Company News; LIBOR, The Tax Proposal, and Fed Chair Nominee Fri, Nov 3, 2017 9:23AM One can focus on how to obtain a free sandwich today , since it is National Sandwich Day, or focus on the new tax proposal. NAR: "...at first glance it appears to confirm many of our biggest concerns about the Unified Framework. Eliminating or nullifying the tax incentives for homeownership puts home values and middle-class homeowners at risk, and from a cur... (read more) Latest Video Fmr. Fed Advisor: Powell the right choice for Fed chairman ISM non-manufacturing index comes in higher than forecasts Here's what Friday's jobs report means for the economy and interest rates Around the Web CNBC It's begun: Fed's unwinding of its epic balance sheet officially showing up in the data Reuters Wells Fargo says it faces lawsuits over mortgage and auto loans NMHC Apartment Industry Makes Its Case on Housing Finance Reform Bloomberg The Biggest Challenge for Central Bankers: Don't Wreck the Economy CNBC Powell will, 'unless he's crazy,' continue Yellen's path, says ex-Fed vice chair NMHC Apartment Industry Makes Its Case on Housing Finance Reform PR Newswire Texas home sales decline on quarterly basis for first time since 2012 CNBC Hurricane-damaged jobs number won't sway the Fed from rate hike Calculated Risk Blog Comment on Employment Report: Hurricane Bounce Back, Record Job Streak Still Alive! CNBC 'Too young' Warsh reportedly blew his Fed interview with Trump while Powell aced his Reuters U.S. factory orders rise, core capital goods orders revised higher CNBC ISM non-manufacturing index hits highest reading since index debuted in 2008 NAHB Eye on Housing Fed Leaves Rates Unchanged, Current Range Deemed "Accommodative"

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