What a difference 2 days make! Freddie Mac's weekly rate survey was out yesterday prompting multiple news outlets to declare "slightly lower rates" on the week. Given that Freddie's survey only gathers responses through any given Wednesday, the results jived with what we were seeing on lenders' actual rate sheets. On Wednesday, mortgage rates were indeed at their best levels in more than 3 weeks. But after 2 days of relatively abrupt weakness, rates quickly find themselves at the highest levels in 2 weeks. Adding to the frustration is the absence of any single, obvious motivation for the weakness. In order to account for it, we'd have to discuss several esoteric developments in bond markets (if you're into that sort of thing, I go into more detail in the MBS Commentary channel). One simple

November 10, 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 10, 2017 Mortgage Rates Jump to 2-Week Highs Fri, Nov 10, 2017 3:31PM What a difference 2 days make! Freddie Mac's weekly rate survey was out yesterday prompting multiple news outlets to declare "slightly lower rates" on the week. Given that Freddie's survey only gathers responses through any given Wednesday, the results jived with what we were seeing on lenders' actual rate sheets. On Wednesday, mortgage rates were indeed at their best levels in more than 3 weeks. But after 2 days of relatively abrupt weakness, rates quickly find themselves at the highest levels in 2 weeks. Adding to the frustration is the absence of any single, obvious motivation for the weakn... (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: Bond Weakness Getting More Serious Fri, Nov 10, 2017 9:41AM After 2 weeks of solid gains, bonds have taken the past 3 days (which includes today's overnight trading) to push back in the other direction.  At least part of that story has to do with the yield curve (a topic of increased interest recently,... (read more) MBS Live Recap: Bonds Unable to Hold Mid-Day Gains After Senate Tax Plan Thu, Nov 9, 2017 4:49PM Bond markets began the day roughly unchanged after initially improving in the overnight session.  Domestic hours saw 10yr yields make 2 attempts to break higher with both thwarted by 2.345%.  Just after the 2nd bounce, the first leaks started coming out regarding the Senate tax plan .  Markets responded with a "risk-off" trade (stock prices a... (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 It's Not a Bubble if it Doesn't Burst Fri, Nov 10, 2017 12:55PM Someone must have passed a law; if it is November, you must publish something debunking bubbles. The saturation point is near, but the latest contribution, from Freddie Mac's Chief Economist Sean Becketti, provides a better (and much longer) analysis than most, so we will attempt to summarize his arguments as to why, despite rapidly rising home prices, we ar... (read more) Would "Student Loan Mortgages" Solve Homeownership Problems? Thu, Nov 9, 2017 4:56PM In June the National Association of Realtors® (NAR) released a "working paper" from the Rosen Consulting Group and the Fisher Center for Real Estate and Urban Economics, University of California, Berkeley, detailing several barriers to homeownership ; affordability, post-foreclosure stress disorder, access to mortgages, and student loan debt, among other... (read more) Upcoming Events and Webinars; Agency Disaster Updates; Freddie and Fannie Fri, Nov 10, 2017 9:17AM In lending we should all continue to champion and applaud the individuals and companies that are making a difference in our quest for equality, especially when it comes to women and minorities. In law firms - a similar occupation - women over 40 make up 40 percent of lawyers at but women over 50 only make up only 27 percent. That phenomenon is the focus of t... (read more) Latest Video S&P 500 and Dow on track to snap 8-week winning streak Senate Republicans unveil tax reform plan Senate releases its tax bill as House continues debate on its version Around the Web Reuters Doubts about tax cuts weigh on Wall Street NAR - Realtor.com Selling a House to Millennials? Bring a Camera, and Fake Eyelashes Calculated Risk Blog Employment: October Diffusion Indexes Freddie Mac Freddie Mac Prices $1.1 Billion Multifamily K-Deal, K-F38 CNN Alan Greenspan: Big tax cuts a 'mistake.' Fix the debt first Bloomberg Hamptons Homebuyers Have Already Figured Out How to Game the Tax Plan PR Newswire Remine Platform Now Includes Property Data On 100 Percent Of U.S. Housing Stock CNBC Consumer sentiment hits 97.8 in November vs. 100.9 estimate Bloomberg Stocks Extend Drop, Bonds Fall; Dollar Fluctuates: Markets Wrap consumerfinancemonitor.com CFPB/Fed/OCC increase exemption thresholds for appraisal requirement, Regs Z and M Calculated Risk Blog Prime Working-Age Population nears 2007 Peak CNBC A middle-class tax cut? It depends who and where you are CNN Hurricanes could bring another disaster: Foreclosures

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