Mortgage rates were unchanged today, on average, although a few lenders made small adjustments to rates sheets in response to bond market volatility. Bond markets began the day heading into stronger territory (which implies lower rates), but gave up much of the gains by early afternoon. That prompted a few lenders to raise the costs associated with prevailing rates. In other words, markets didn't move enough for published interest rates to change. Those tend to move in .125% increments and it takes an uncommonly big day in bond markets to push mortgage rates higher or lower by that much. The "upfront costs" associated with a mortgage (origination and discount, typically) give lenders a way to fine-tune the overall cost of financing. It's those costs that moved higher, but again, only for a

November 21, 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 21, 2017 Mortgage Rates Holding Steady in Recent Range Tue, Nov 21, 2017 3:34PM Mortgage rates were unchanged today, on average, although a few lenders made small adjustments to rates sheets in response to bond market volatility. Bond markets began the day heading into stronger territory (which implies lower rates), but gave up much of the gains by early afternoon. That prompted a few lenders to raise the costs associated with prevailing rates. In other words, markets didn't move enough for published interest rates to change. Those tend to move in .125% increments and it takes an uncommonly big day in bond markets to push mortgage rates higher or lower by that much. 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: If Sideways Momentum Bores You, Consider The Implication Tue, Nov 21, 2017 9:12AM It's no great mystery that momentum in bond markets (at least in 10yr Treasury yields and MBS) is sharply sideways at the moment--not only in terms of the trajectory of the range, but also in terms of that range's narrowness.  For the time bei... (read more) MBS Live Recap: Moderate Weakness Keeps Bonds Rangebound Mon, Nov 20, 2017 4:59PM Looked at under a microscope, there was a fair amount of intraday volatility this morning.  Treasury yields fell overnight, reaching the best levels in 3 sessions, but then abruptly sold-off soon after domestic trading began.  The bulk of the selling was close enough to the CME open that we could chalk the move up to a few big trades at the sta... (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 Existing Home Sales Erase Summertime Losses Tue, Nov 21, 2017 11:00AM Existing home sales continued a gradual recovery in October after a summer of sliding sales. For the second straight month the National Association of Realtors® (NAR) is reporting that sales of previously owned homes increased, this time by 2.0 percent. Single-family houses, townhouses, condos, and townhouses sold at a seasonally adjusted annual rate of ... (read more) Best Year in a Decade? Good, but not Great Tue, Nov 21, 2017 9:40AM Freddie Mac's Economic and Strategic Research Team gave its forecast for housing in 2018 (which, as discussed below, it is now hedging a bit) in its October Outlook . This month they present a retrospection of how housing fared in the old one. Since we all lived through it, too much detail would be overkill, but for the sake of nostalgia (or maybe relief), a... (read more) CRA Changes; New Lender; Mortgage and Appraisal Books for Your Staff Tue, Nov 21, 2017 9:19AM What is more relaxing than breakfast in bed? IHOP is there for you, and is testing IHOP home delivery in various states. Roshambo to see who answers the doorbell? In even more exciting news, we now have a new threshold for the smaller loan exemption from appraisal requirements for higher-priced mortgage loans. Heavyweights CFPB, OCC, and the Fed ratcheted it... (read more) Latest Video Fmr. Wells Fargo CEO on taxes and the impact on home buyers Santelli Exchange: Are all yield curve inversions created equal? October existing home sales up 2.0% Around the Web CNBC Homeowners hurt by GOP tax plan are those who can afford it, says ex-Wells Fargo CEO CNBC BlackRock: Bond market is not sending the scary message you think it is Calculated Risk Blog FDIC: Fewer Problem banks, Residential REO Declined in Q3 CNBC 15 states where millennials can afford to buy homes Bloomberg Pensions Front-Run Tax Overhaul, Driving the Yield Curve Flatter Calculated Risk Blog A Few Comments on October Existing Home Sales NAR - Realtor.com Home Prices Are Dropping: How Far Are They Falling? NAHB Eye on Housing Multifamily Developer Confidence Weakens in Third Quarter NAHB Eye on Housing Townhouse Construction Growth Continues Calculated Risk Blog Chicago Fed "Index Points to a Pickup in Economic Growth in October" builderonline.com HUD Gives $5B for Hurricane Harvey Recovery Efforts in Texas Bloomberg This Flat Yield Curve Is No Mystery, According to a Fed Study Federal Reserve Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans

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