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: Mortgage Rate Watch Mortgage Rates Highest Since Late October 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 h... (read more) Housing News Existing Home Sales Post Largest Gains Since 2015 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 pa... (read more) Rob Chrisman Politics and The Tax Bill's Impact on Fannie/Freddie; Inflation and Housing “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 ... (read more) MBS Commentary MBS Live Day Ahead: Bond Selling Acting Like "Real Deal." Any Hope on The Horizon? 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) Housing News Rising Credit Risk Remains in Normal Bounds 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 loan... (read more) MBS Commentary MBS Live Recap: Calmer Day, But It Still Confirms a Weaker Trend 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... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.77% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.77% -0.01 0.00 15 Yr. Fixed 6.03% -0.01 0.00 30 Yr. FHA 6.35% 0.00 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.36% 0.00 0.00 Updates Daily - Last Update: 7/22 15 Yr. Fixed Rate 6.03% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.49 -0.02 Price / Yield Change MBS UMBS 5.5 99.49 -0.02 UMBS 6.0 101.35 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 8:09AM EST 10 Year US Treasury 4.3649 +0.0189 Price / Yield Change US Treasury 2 YR Treasury 3.846 +0.017 5 YR Treasury 3.900 +0.014 7 YR Treasury 4.112 +0.014 10 YR Treasury 4.360 +0.014 30 YR Treasury 4.930 +0.013 Pricing as of: 7/23 8:09AM EST 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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