Mortgage rates continued higher today, largely due to momentum in bond markets (which dictate rates) carrying over from yesterday. Trading was far less active today and the movement was much smaller. Even so, any amount of additional weakness would have been enough to confirm a shift in what had been an exceptionally flat rate range over the past 3 months. The average lender has moved an eighth of percentage point (.125%) higher in rate over the past 2 days, leaving them right in line with late October's levels. Unfortunately late October marked a brief period of highs rates, and you'd have to go back to early July to see anything similar. On a final, downbeat note, we haven't seen conclusively higher rates since May 2017. As we discussed yesterday, bond markets are making these moves for their

December 20, 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 Dec 20, 2017 Mortgage Rates Highest Since Late October Wed, Dec 20, 2017 2:26PM Mortgage rates continued higher today, largely due to momentum in bond markets (which dictate rates) carrying over from yesterday. Trading was far less active today and the movement was much smaller. Even so, any amount of additional weakness would have been enough to confirm a shift in what had been an exceptionally flat rate range over the past 3 months. The average lender has moved an eighth of percentage point (.125%) higher in rate over the past 2 days, leaving them right in line with late October's levels. Unfortunately late October marked a brief period of highs rates, and you'd have to... (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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Day Ahead: Bond Selling Acting Like "Real Deal." Any Hope on The Horizon? Wed, Dec 20, 2017 9:43AM Things have gone from "very sideways" to "very bad" for bond markets in less than 48 hours.  As of Monday afternoon, this could have been any other week during the past 3 months.  Yields were trading well-within the confines of a very wel... (read more) MBS Live Recap: Calmer Day, But It Still Confirms a Weaker Trend Wed, Dec 20, 2017 4:45PM Today was much calmer than yesterday in terms of intraday volatility.  The overall trading ranges in 10yr yields and MBS were more than twice as narrow.  But in each case, those ranges occurred almost completely outside yesterday's ranges... on the unfriendly side. In other words, compared to yesterday's 2.39-2.47 range in 10yr yields, today'... (read more) MBS Price Change UMBS 5.0 99.55 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.45 -0.09 GNMA 5.0 99.86 -0.21 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.08 -0.11 Pricing as of: 9/9 12:10PM EST US Treasury Yield Change 2 YR Treasury 3.541 +0.053 5 YR Treasury 3.609 +0.047 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.088 +0.048 30 YR Treasury 4.738 +0.048 Pricing as of: 9/9 12:10PM EST Other News Existing Home Sales Post Largest Gains Since 2015 Wed, Dec 20, 2017 11:04AM Existing home sales pulled off a hat trick in November, and the third successive monthly increase was a substantial one. The National Association of Realtors® (NAR) says sales rose 5.6 percent from October to November, reaching their strongest pace in nearly 11 years. Sales of existing single-family homes, townhomes, condos, and cooperative apartments we... (read more) Rising Credit Risk Remains in Normal Bounds Wed, Dec 20, 2017 9:23AM Mortgage credit risk has edged up over the last year, but CoreLogic says that it remains well within an acceptable range , comparable to that of loans issued in the early 2000s. The company analyzed six credit risk attributes in newly originated loans, and has released the results of its Housing Credit Index (HCI) for the third quarter. The company's index i... (read more) Politics and The Tax Bill's Impact on Fannie/Freddie; Inflation and Housing Wed, Dec 20, 2017 9:36AM “Look, if a man says he will fix it, he will. There’s no need to remind him every six months.” Humor aside, it seems that Facebook is fixing things so that, in the UK, home loans are available through Facebook . Soon on Amazon? The Politics of Freddie and Fannie The Wall Street Journal reports that the Republican tax plan could trigger a ro... (read more) Latest Video Tax plan keeps mortgage interest, property tax deductions. House passes tax reform bill after hard legislative year Existing home sales up 5.6% in November Around the Web CNBC The bond market hasn't behaved this way for a long time Calculated Risk Blog A Few Comments on November Existing Home Sales NAR - Realtor.com Apartment Landlords Dodge Tax Bullet NMHC Congress Urges Action on Disparate Impact CNBC House has enough votes to send tax bill to Trump's desk NAR - Realtor.com Buyers Act Fast: Existing Homes Are Selling Quickly Calculated Risk Blog AIA: Architecture Billings Index Increases in November NMHC Harvard's 2017 Rental Housing Report NAHB Eye on Housing Most States Saw Permits Growth Over October YTD Bloomberg Congress Dives Into Shutdown Drama Hours After GOP Win on Taxes Reuters House to vote again on tax bill; Trump on verge of win CNBC Strange 'disconnect' in the market is raising a red flag for one market watcher Bloomberg Bond Market Breaks Out, but in a Bad Way

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