Mortgage rates moved higher today, with most lenders quoting their highest rates in at least 2 weeks. But before you let that worry you too much, know that the range of available rates has been so narrow over the past 2 weeks that it didn't take much to earn that dubious distinction. In fact, today's rate change is pretty close to average. It wasn't even enough for lenders to change "note rates" (the actual interest rate applied to a loan balance). Instead, changes are more likely to be seen in the form of the upfront costs/credits associated with any given rate quote. Economic data has a longstanding relationship with interest rate movement. With that in mind, it's fair to assume that this morning's strong GDP report had a negative impact on rates. But that's not what market participants are

November 29, 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 29, 2017 Mortgage Rates Bounce to 2-Week Highs Wed, Nov 29, 2017 3:14PM Mortgage rates moved higher today, with most lenders quoting their highest rates in at least 2 weeks. But before you let that worry you too much, know that the range of available rates has been so narrow over the past 2 weeks that it didn't take much to earn that dubious distinction. In fact, today's rate change is pretty close to average. It wasn't even enough for lenders to change "note rates" (the actual interest rate applied to a loan balance). Instead, changes are more likely to be seen in the form of the upfront costs/credits associated with any given rate quote. Economic data has a long... (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: Starting Out at a Disadvantage; Yellen Still Matters Wed, Nov 29, 2017 9:11AM Right at the start of trading today, bonds took a hit from Fed comments.  Although she's soon to be replaced, Janet Yellen's thoughts on the economy still matter.  In her prepared remarks for today's congressional testimony (her last), sh... (read more) MBS Live Recap: Bonds Hold Steady as Stocks Soar Tue, Nov 28, 2017 5:04PM Stocks broke out in a big way today--a fact that may make the relatively 'unchanged' bond market performance more palatable.  In bonds' defense, they did nothing wrong.  The CME open brought a bit of buying.  The NYSE open brought a bit of selling, but the bias remained slightly positive overall with help from the confirmation hearing for ... (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 Pending Home Sales Rebound, Beating Expectations Wed, Nov 29, 2017 10:19AM Pending home sales posted their first strong showing in three months in October, beating even the most optimistic of predictions. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) jumped by 3.5 percent compared to September, to a reading of 109.3. The September index, originally reported at 106.0, unchanged from August,... (read more) Purchase Activity Up Slightly Despite Shorter Week Wed, Nov 29, 2017 8:45AM The short business week preceding the Thanksgiving holiday resulted, as usual, in fewer mortgage applications. The Mortgage Bankers Association said its Market Composite Index, a measure of loan application volume, was down 3.1 percent on a seasonally adjusted basis during the week ended November 24, with results adjusted to account for the holiday. On a non... (read more) HUD Cries "Foul" on Travel Expenses; UDAAP Ruling on Discount Points Wed, Nov 29, 2017 9:26AM Lenders everywhere are facing a basic dilemma: Diminished volumes and leaving profit margins alone, or reducing profit margins and trying to maintain volume. Or, gulp, both. Everyone talks about efficiency and technology, but many lenders are very concerned about the next 4 months, especially if anything new takes 6 months to roll out. Government Actions Aff... (read more) Latest Video Tax bill fight brewing over 'fiscal trigger' among Republicans The rate playbook Janet Yellen: Important to move policy rate gradually Around the Web Redfin Redfin Housing Demand Index Dipped 1.7 Percent from September to October; Still 26.6 Percent Higher Than Last Year CNBC Senate tax bill will reportedly raise pass-through deduction to 20% CNBC Corker's 'trigger' plan risks chopping tax cut in half analyst NAR - Realtor.com New Mortgages Allow Renters to Buy With Tiny Down Payments CNBC Fed says economic activity continues to increase at modest pace, with slight improvement in outlook Reuters Fed should continue to raise rates slowly, Williams says builderonline.com Rents Consume Increasingly Larger Percentage of Incomes Reuters Senate to vote Wednesday on opening debate on tax bill Bloomberg Yellen Says US Expansion Widening as Financial Risks Muted CNBC Yellen: $20 trillion national debt 'should keep people awake at night' CNBC Fed Chair Janet Yellen: Rates have to raise to prevent 'boom-bust' economy NY Times Yellen Says Economic Expansion Has Gained Strength CNBC Federal Reserve starting to think about its own digital currency, Dudley says

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