Mortgage rates had a bad week last week, quickly rising to the highest levels in months. To make matters more frustrating, there weren't any clearly-delineated reasons for the rate spike. Making sense of the movement required a dive into the esoteric conversation about the year-end bond trading environment. That esoteric conversation is still the only way to make sense of today's movement, but this time around, the move is in our favor. What had been an abrupt, inexplicable spike higher last week has now been largely undone by an abrupt, inexplicable move lower today. Rates were only modestly lower this morning, but as underlying bond markets rallied more aggressively, most lenders issued updated rate sheets this afternoon. Borrowers who had seen top tier rates move up an eighth of a percentage

December 27, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Catch a Break After Last Week's Rout Mortgage rates had a bad week last week, quickly rising to the highest levels in months. To make matters more frustrating, there weren't any clearly-delineated reasons for the rate spike. Making sense of the movement required a dive into the esoteric... (read more) Rob Chrisman A Sampling of Vendor News, Tools, and Updates Private education pays well. There were 58 people making over $1,000,000 per year in total compensation as the presidents of private, non-profit colleges in 2015, up from 39 in 2014 and 32 in 2013, according to the Chronicle of Higher Education's cal... (read more) Housing News Pending Home Sales See Slight November Gains Pending home sales pulled off a second straight gain in November, but just barely . The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), which is based on contracts for existing home purchases , rose 0.2 per perce... (read more) MBS Commentary MBS Live Day Ahead: Will Pending Home Sales Data Sing Same Tune as Other Housing Data The National Association of Realtors publishes reports for both Pending and Existing Home Sales.  The conventional wisdom is that Pending Sales tend to foreshadow Existing Sales to some extent.  Precedent suggests that does indeed tend to... (read more) Mortgage Rate Watch Mortgage Rates Seasonally Sideways Mortgage rates were lifeless today as financial markets drifted sideways. Although rates CAN move during the last week of December when there's an imbalance between buyers and sellers in bond markets, that's the exception to the rule. We tend to see ... (read more) MBS Commentary MBS Live Recap: 'Tis The Season Bond markets got off to a seasonally typical start this week with volumes and volatility both virtually nonexistent.  There are past instances of volatility during the last week of the year, but in general, the default stance is purely neutral (... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +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 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.41 -0.10 Price / Yield Change MBS UMBS 5.5 99.39 -0.12 UMBS 6.0 101.31 -0.08 GNMA 5.5 99.63 -0.15 GNMA 6.0 101.25 -0.07 Pricing as of: 7/23 12:52PM EST 10 Year US Treasury 4.3758 +0.0298 Price / Yield Change US Treasury 2 YR Treasury 3.861 +0.032 5 YR Treasury 3.916 +0.031 7 YR Treasury 4.132 +0.033 10 YR Treasury 4.377 +0.031 30 YR Treasury 4.947 +0.030 Pricing as of: 7/23 12:52PM EST Latest Video Closing Bell Exchange: Still uncertainty about tax reform's impact Five-year auction demand lowest since June Homeowners rush to pay 2018 taxes Around the Web Bloomberg Surging Demand Sends Investment-Grade Bond Spread to 2007 Levels CNBC When the economic news is this good, history shows the gains are smaller for stocks CNBC San Francisco landlords are turning crappy old storage rooms' into apartmentsand it's good news NAR - Realtor.com Tax Law Could Further Slow Down a Bank Favorite: Jumbo Mortgages Calculated Risk Blog Q4 Review: Ten Economic Questions for 2017 consumerfinancemonitor.com CFPB adjusts HMDA data collection, TILA mortgage escrow thresholds consumerfinancemonitor.com CFPB to amend prepaid rule and extend effective date CNBC Consumer confidence slips from 17-year highs PR Newswire Mortgage Banking Experts Call on North Carolina Delegation to Address Housing Finance Reform CNBC Monetary policy decisions in 2018: Here's what to expect Reuters Oil remains near 2015 highs on tight market outlook NPR Measurement Tool Used In New Tax Bill Will Impact Deductions And Brackets NAR - Realtor.com How Tax Law Will Help Some Housing Markets

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