It wasn't supposed to happen after the banner month for new home sales in September, but sales of those homes rose significantly again in October, jumping 6.2 percent to a seasonally adjusted annual rate of 685,000 units. The seasonally adjusted results for September were the highest in 10 years, and the percentage gain over August, 18.9 percent, was the largest in nearly three decades. The back-to-back increases more than compensate for a somewhat lackluster summer, and put sales 18.7 percent above the 577,000-unit rate in October 2016. The original estimate for September of 667,000 was revised down to 645,000, but remained the highest thus far in 2017. Prior to the release of the joint report from the U.S. Census Bureau and the Department of Housing and Urban Development, Econoday said,

November 27, 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 27, 2017 Mortgage Rate Volatility Will Increase From Here Fri, Nov 24, 2017 1:53PM Mortgage rates were roughly unchanged today. That's not too surprising considering lenders don't tend to make big moves on the Friday after Thanksgiving, regardless of market conditions. Moreover, they're working with a shorter-than-normal trading day. Bonds normally trade through 5pm Eastern time with 3pm being the deadline for many of the biggest players. When bonds close early, trading is only open through 2pm and the deadline for the biggest players is a moving target-- especially on the day after Thanksgiving. When Federal/Bank holidays result in bonds having a day off, it's not uncommon ... (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 Week Ahead: Countdown to Bond Breakout Begins Mon, Nov 27, 2017 9:41AM Over the past two months, we've seen higher lows and lower highs in 10yr yields and mortgage rates.  On a chart, this looks like 2 sides of a "triangle," and is sometimes referred to as such.  Other names include "pennant," or simply "conso... (read more) MBS Live Day Ahead: A Brief History of Black Fridays For Bond Markets Fri, Nov 24, 2017 7:38AM Today is boring .  It was destined to be boring (probably) before it even occurred, and even if it gives the appearance of being exciting at some point in the next few hours, odds are that it will end up looking boring in retrospect.  W... (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 New Home Sales Steamroll Over Expectations Mon, Nov 27, 2017 10:49AM It wasn't supposed to happen after the banner month for new home sales in September, but sales of those homes rose significantly again in October, jumping 6.2 percent to a seasonally adjusted annual rate of 685,000 units. The seasonally adjusted results for September were the highest in 10 years, and the percentage gain over August, 18.9 percent, was the lar... (read more) Advice From Industry Leaders; CFPB Leadership Void - Really? Mon, Nov 27, 2017 9:10AM The darkest, blackest material known to man? Vantablack . Don't be the last to paint your car with it. Speaking of looking into voids, who is in charge of the CFPB? As Elizabeth Warren points out, it seems that the ability of Trump, or any president, to appoint the acting director flies in the face of the successor language written into the Dodd Frank Act . ... (read more) Lender Internet News; Vendors Partnering Fri, Nov 24, 2017 9:13AM Plenty of lawyers are basketball fans. What had once looked like a defense slam-dunk now isn’t: A federal judge declined to dismiss a fan’s suit that alleges the Warriors Android app violates wiretap laws. The app turns on your mic, supposedly so it can listen for location beacons at the NBA team’s stadium and serve up ads for things near y... 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