Mortgage rates held steady again today, keeping them in line with the lowest levels in more than 3 weeks. They've also been uncommonly calm so far this week, which certainly isn't a bad thing when we're at 3-week lows. The calm trend began showing cracks at the end of the day in terms of underlying bond markets (movement in bonds ultimately dictates movement in mortgage rates). Bonds began to weaken in the afternoon. "Weakness" in bonds corresponds to higher rates. To put the move in context, bonds are still in better territory than they were on any day last week. In other words, the weakness is quite modest for now. The risk is that it signifies some sort of shift because of bond trading behavior over the past 2 days. To oversimplify a complex phenomenon, bonds (the ones we watch to get a

November 8, 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 Nov 8, 2017 Mortgage Rates Flat Today, But Some Signs of Pressure Wed, Nov 8, 2017 3:23PM Mortgage rates held steady again today, keeping them in line with the lowest levels in more than 3 weeks. They've also been uncommonly calm so far this week, which certainly isn't a bad thing when we're at 3-week lows. The calm trend began showing cracks at the end of the day in terms of underlying bond markets (movement in bonds ultimately dictates movement in mortgage rates). Bonds began to weaken in the afternoon. "Weakness" in bonds corresponds to higher rates. To put the move in context, bonds are still in better territory than they were on any day last week. In other words, the weakness ... (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 Recap: Bonds Lose Ground For 1st Time in 6 Trading Sessions Wed, Nov 8, 2017 4:17PM After 5 days of gains for longer-term bonds (we'll lump 10yr Treasuries and the MBS coupons that matter to rate sheets into that category), today finally turned red.  How much to read into that weakness is a matter of debate.  On one hand , it's an exceptionally slow week where we've generally seen very low volumes and a startling absence of m... (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 Enthusiasm Ebbed After Last Month's All-Time Highs -Fannie Survey Wed, Nov 8, 2017 3:52PM Fannie Mae blamed diminished confidence in both buying and selling a home for a 3.1 percentage point drop in its Home Purchase Sentiment Index (HPSI) last month. The Index fell, after tying the all-time high of 88.3 in September, to 85.2 in October. Net positive responses to four of the six components of the HPSI, which is based on the National Housing Surve... (read more) Renters Getting Off Easy vs Owners When it Comes to Rising Payments? Wed, Nov 8, 2017 12:08PM According to CoreLogic, it doesn't matter whether you rent or recently bought a home, your housing costs probably went up over the last year. Two separate posts in the CoreLogic Insights blog look at the rising costs, and find that homeowners are being hit harder than before. Still, when viewed historically, the cost of owning remains more affordable. There ... (read more) Rate Reversal Helps Market Share for Refinances Wed, Nov 8, 2017 9:11AM Mortgage application activity was generally muted last week accoording to the Mortgage Bankers Association (MBA). Where there were changes in the MBA's Market Composite Index, they were small and without much direction. The Index, a measure of mortgage loan application volume, was unchanged on a seasonally adjusted basis from one week earlier, the first time... (read more) FHA Changes; NY, WV, and NJ Lending Updates Wed, Nov 8, 2017 9:14AM “These businesses are in a structurally disadvantaged position, given the challenging rate environment and marketplace,” Sanjiv Yajnik, president of financial services at Capital One, said in a memo to employees. “These factors do not allow us to be both competitive and profitable for the foreseeable future.” Capital One of Plano, TX ... (read more) Latest Video Interest rate hikes and deregulation hopes helped drive bank stock rally: A... Zillow CEO: Housing is hot and it's a seller's market Corporate tax rate appears to be in 'limbo' once more Around the Web Reuters Paul Ryan opens door to delayed corporate tax rate cut NAR - Realtor.com Republican Tax Plan Could Grind Affordable Housing Construction to a Virtual Halt consumerfinancemonitor.com When will the CFPB formally acknowledge that Congress has repealed its arbitration rule? The Basis Point Originations: most important housing charts Oct/Nov 2017 Reuters Capital One exits mortgage loans business, cuts 1,100 jobs Calculated Risk Blog Leading Index for Commercial Real Estate "Recovers" in October CNBC Why the housing market got no Trump bump PR Newswire San Diego Home Sales Accelerating Despite Higher Prices Calculated Risk Blog Las Vegas Real Estate in October: Sales up 13% YoY, Inventory down 32% Brookings Institution Which metro areas would be hit hardest in the latest tax plan by capping the mortgage interest deduction? Bloomberg Draghi Will Miss His Chance to Raise Interest Rates, Nordea Says PR Newswire Miami Home Sales Rebound In Second Quarter, But Affordability Deteriorates According To Latest Ten-X Market Report Bloomberg Capital One Exits Mortgage Origination Business, Cuts 1100 Jobs

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