Richard Cordray, first Director of the Consumer Financial Protection Bureau (CFPB), will leave the agency at the end of the month. Cordray announced his resignation on Wednesday in a letter to CFPB employees. It has long been rumored that he intends to run for governor of Ohio. Cordray served as acting director for an extended period after the agency was created as Republicans in the Senate announced they would block his confirmation or that of any other nominee to the position. His appointment was only made official after Senate Democrats reversed a long-standing rule allowing a 51-vote majority for confirmation. Bloomberg News says the White House had already begun a search for Cordray's successor (there had been widespread discussion that the President was looking for a way to remove Cordray

November 16, 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 16, 2017 Mortgage Rates Slightly Higher Thu, Nov 16, 2017 4:36PM Mortgage rates moved higher today, but the changes were minimal for most lenders. Bond markets (which underlie interest rates) have been searching for inspiration recently and largely coming up short. This morning contained several economic reports and the House passed its tax bill in the afternoon, but none of those events caused much of a stir for bonds. In fact, all of the bond market movement responsible for today's higher rates occurred during Asian and European trading hours. When US traders got in for the day, bonds were almost perfectly sideways through 3pm. With next week bringing the... (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: More Econ Data, Plus Tax Bill Vote, But Bonds Might Not Care Thu, Nov 16, 2017 8:36AM While today will play host to another set of economic reports as well as the House vote on its version of the tax bill, bond markets may continue to let other factors drive trading decisions.   The 8:30am economic data includes Jobless C... (read more) MBS Live Recap: Bonds Defy CPI and Retail Sales to With Solid Gains Wed, Nov 15, 2017 4:38PM As noted in today's MBS Huddle, an absence of any selling pressure in bond markets was a positive result in itself.  Selling pressure would have been fairly easy to justify given the slightly stronger CPI data as well as moderately stronger Re... (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 CFPB's Cordray Resigns; Agency Future Uncertain Thu, Nov 16, 2017 9:50AM Richard Cordray, first Director of the Consumer Financial Protection Bureau (CFPB), will leave the agency at the end of the month. Cordray announced his resignation on Wednesday in a letter to CFPB employees. It has long been rumored that he intends to run for governor of Ohio. Cordray served as acting director for an extended period after the agency was cre... (read more) Builder Confidence Nears Post Crash High Thu, Nov 16, 2017 10:38AM Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hitting 70, the highest score since March . It was also the second highest reading for the index which measures N... (read more) Another Lender Acquired; Training Events; Thoughts on Mr. Cordray Thu, Nov 16, 2017 9:09AM I think the rumors out there about Richard Cordray taking a much deserved break and then, forget that governor stuff, stepping into Dave Stevens' shoes running the MBA are farfetched. Now, forgetting for a moment about comp issues (Cordray is earning about $180k per year ), if Dave were to have a desire to run the CFPB, that would be interesting indeed. Musi... (read more) Latest Video House tax reform bill passes Road between House and Senate messy for tax bill Cashin: House tax bill vote driving markets Around the Web CNBC Trump interested in naming budget director Mulvaney to consumer protection bureau Calculated Risk Blog Phoenix Real Estate in October: Sales up 4%, Inventory down 10% YoY CNBC Fed's Kaplan: Overshooting employment goal could trigger rate hike Freddie Mac Freddie Mac Announces Reentry into Low-Income Housing Tax Credit Market Reuters House of Representatives approves tax package, shifts fight to Senate CNBC Homeownership doesn't build wealth, study finds Calculated Risk Blog Earlier: Philly Fed Manufacturing Survey showed "Activity Continues to Expand" in November Brookings Institution Hutchins Roundup: Forecast targeting, labor force participation of older Americans, and more Freddie Mac Freddie Mac Prices $1 Billion Multifamily K-Deal Backed by Seasoned Loans Freddie Mac Mortgage Rates Bounce Up CNBC Home builder confidence hits 8-month high in November CNBC US industrial production rose 0.9% in Oct, vs 0.5% increase expected CNBC US weekly jobless claims unexpectedly rise

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.