Data from CoreLogic could be sounding a bubble alarm. The company's Home Price Report for September jumped almost a point from the previous month, and the company says nearly half of the largest metropolitan areas are overvalued. The CoreLogic Home Price Index (HPI) rose 0.9 percent for the third consecutive month in September and the index has averaged 1.1 percent gains over the first nine months of 2017. On a year over year basis, the index was up 7.0 percent tying it with February as the second largest gain so far this year, behind only March with an annual increase of 7.1 percent. The change from August to September was 6.9 percent. The CoreLogic Market Condition Indicators (MCI) data is an analysis of housing values in the country's 100 largest metropolitan areas based on housing stock

November 7, 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 7, 2017 Mortgage Rates Drift Calmly Down to 3-Week Lows Mon, Nov 6, 2017 5:08PM Mortgage rates continued lower today, despite a blatant lack of underlying motivation in financial markets. By that, I mean that we haven't seen any obvious cause and effect relationships between news, economic data, and bond market movements (which, in turn, drive interest rate movements). Instead, bonds moved of their own volition. While the move was modest, it was the 6th improvement in the past 7 business days. The net effect is the best mortgage rate offerings in 3 weeks. Several of the more aggressive lenders are again quoting top tier 30yr fixed rates of 3.875% while many remain at 4.0%... (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: Without Inspiration and Motivation, Things Can Get Weird Tue, Nov 7, 2017 9:06AM Bond traders are like my 10yr old.  If you give them plenty of information to consider and if you lay out the right set of challenges, they're much more likely to stay on task in a relatively predictable way, or at least in a manner that can be ... (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 Overvaluation Becoming a Bigger Issue for Home Prices -CoreLogic Tue, Nov 7, 2017 11:37AM Data from CoreLogic could be sounding a bubble alarm. The company's Home Price Report for September jumped almost a point from the previous month, and the company says nearly half of the largest metropolitan areas are overvalued. The CoreLogic Home Price Index (HPI) rose 0.9 percent for the third consecutive month in September and the index has averaged 1.1 ... (read more) How Much Do Rates Matter For Affordability? Tue, Nov 7, 2017 9:56AM During the first eight months of 2017, home prices increased at the fastest clip than any equivalent time period since 2013. Black Knight Financial Services said late last month that there had been just over 6 percent in appreciation in its nationwide Home Price Index (HPI) over that period, a quarter point gain in August alone. The median home price for the... (read more) Jumbo Loan Availability Declined in October Tue, Nov 7, 2017 9:56AM Access to mortgage credit changed very little over the first nine months of 2017, and when there were increases, it seemed always to be the availability of jumbo mortgages driving them. The Mortgage Bankers Association said that the change in its Mortgage Credit Availability Index (MCAI) in for the 10th month was also the result of its Jumbo Index. This time... (read more) Nationstar in Play; New Lender; State Credit Scores and Lending Changes Tue, Nov 7, 2017 9:52AM The MBA sent a letter to the House Committee on Ways and Means regarding its recently released tax reform proposal. Given the tax proposal, the MBA reports (using its analysis of 2016 HMDA data) that 7% of first lien home purchase mortgage balances originated in the US in 2016 exceeded $500,000. ($500,000 is the proposed maximum balance on which mortgage int... (read more) Latest Video Jim Paulsen says the long-standing bull market could take a 'pause' Fed Gov. Randal Quarles promises review of bank regulation No signal for a recession or for the rally to be over anytime soon: Credit ... Around the Web CNBC Mitch McConnell says Senate GOP will release its tax proposal on Friday Bloomberg Bond-Market Phenomenon Unseen Since '04 Explains Curve Conundrum Reuters House Republicans seek U.S. tax vote next week; Fitch warns on deficit The Atlantic Governments Don't Stand a Chance Against Rich People Who Don't Like Taxes NAR - Realtor.com Millennial Home Buyers Send a Chill Through Rental Markets NAHB Eye on Housing Construction Job Openings in September CNBC House tax panel chair says it expects to vote on plan next week CNBC September job openings holds steady near record high PR Newswire U.S. Office Space Vacancies Continue Tightening Trend CoreLogic CoreLogic US Home Price Report Reveals Nearly Half of the Nation's Largest 50 Markets are Overvalued Brookings Institution It's time to gut the mortgage interest deduction CNBC As rules on reverse mortgages for seniors change, opportunities and concerns arise CNBC The Trump Fed: Fresher faces, bigger chance for market disruption

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