Mortgage rates held on to yesterday's gains in most cases. Some lenders were even in slightly better shape today, but not enough to have an effect on anything beyond the upfront costs associated with any given rate quote. Rates themselves would be right in line with yesterday's. That's not a bad thing considering yesterday afternoon brought effective rates near their lowest levels of the month. In this case, lower "effective rates" refer to lower upfront closing costs (or higher lender credits) for the prevailing top tier conventional 30yr fixed rates of 4.0%. Bond markets (which underlie interest rate movement) continued to pay more attention to policy developments than the economic data that traditionally has an impact. In today's case, it was news that a few Republican senators may not vote

December 14, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Dec 14, 2017 Mortgage Rates Hold On to Lower Levels After Tax Bill Doubts Thu, Dec 14, 2017 3:51PM Mortgage rates held on to yesterday's gains in most cases. Some lenders were even in slightly better shape today, but not enough to have an effect on anything beyond the upfront costs associated with any given rate quote. Rates themselves would be right in line with yesterday's. That's not a bad thing considering yesterday afternoon brought effective rates near their lowest levels of the month. In this case, lower "effective rates" refer to lower upfront closing costs (or higher lender credits) for the prevailing top tier conventional 30yr fixed rates of 4.0%. Bond markets (which underlie inte... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Day Ahead: Big Directional Moves All About Keeping Things SIdeways Thu, Dec 14, 2017 8:29AM Volume swelled during the first 3 days of the week, culminating in yesterday's CPI/Fed combo and a fairly large move lower in rates.  That's what we can observe about the short -term.   If we're looking at longer -term trends, how... (read more) MBS Live Recap: Stocks Lose, Rates Recover on Tax Bill Fears Thu, Dec 14, 2017 4:55PM Bonds began the day in weaker territory partly due to a correction from yesterday's strong run in the afternoon, and partly due to stronger economic data in Europe.  Domestic economic data was stronger too, with Retail Sales coming in at 0.8 versus a median forecast of 0.3.  The previous reading was also revised up to 0.5 from 0.2. In the past,... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 5:19AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 5:19AM EST Other News Automated Appraisals Don't Paint the Whole Picture Thu, Dec 14, 2017 11:17AM The use of Automated Valuation Models (AVM) is expected to expand following the announced plans of the Fannie Mae and Freddie Mac to waive the requirement for a professional appraisal on qualified purchase loans where the loan-to-value (LTV) ratio is at or below 80 percent. Fannie Mae had previously allowed this waiver only for refinancing, while Freddie wil... (read more) Downpayments at Record Highs as Home Prices Rise Thu, Dec 14, 2017 9:23AM Homebuyers ponied up the highest downpayments on record to purchase homes in the third quarter of 2017. ATTOM Data Solutions' (formerly RealtyTrac) Residential Property Loan Origination Report says that the median down payment for a single-family home or condo purchased with financing during the quarter rose to $20,000 from $18,162 in the second quarter of t... (read more) Tax News; State-Level Changes; Jumbo/Non-Conforming Updates; Dot Plot Primer Thu, Dec 14, 2017 9:15AM There’s a lot of airport travel coming up. It is best to stay cool, calm, and collected . Unfortunately, something else that is cool, and calm, is the entry level market for homes. Thousands of housing stats are spit out every year, and here's another one: Zillow finds about 270,000 fewer homes are sold each year compared to 2006, owing to the rentals.... (read more) Latest Video Sen. Marco Rubio against tax bill unless tax credits expanded Fourth-quarter GDP tracking at 2.6% GOP looking to vote on tax bill next week Around the Web Reuters Wall Street falls as investors fret about tax bill passage Bloomberg It's Trump's Fed Now Reuters U.S. regulators ditch net neutrality rules as legal battles loom CNBC Marco Rubio is reportedly a 'no' on current GOP tax plan; Mike Lee is undecided Gallup Americans' Satisfaction With U.S. Same in 2017 as in 2016 Brookings Institution A goal realized: Network lobbyists' sweeping capture of their regulator Reuters Federal Communications Commission repeals net neutrality rules CNBC The new renters are older and wealthier Calculated Risk Blog Hotel Occupancy Rate Increased Year-over-Year, 2017 will be Record Occupancy Year Bloomberg Falling Prices and New Mortgage Rules Boost Canadian Home Sales NAHB Eye on Housing Construction Trades: A Step on the Path Toward Higher Paying Jobs Freddie Mac Little Change for Mortgage Rates Calculated Risk Blog Retail Sales increased 0.8% in November

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