Mortgage rates were unchanged to slightly lower today, depending on the lender. Merely holding steady is a victory today. Reason being: bond markets (which dictate rates) weakened yesterday. That implied higher rates ahead. Lenders had the choice to change yesterday's rate sheets for the worse or to wait until this morning to make the adjustments. Very few issued reprices yesterday. In other words, this morning's rate sheets needed the overnight bond market strength in order to hold steady. Fortunately, that strength was just enough for the average lender to remain in similar shape to yesterday or better. There were a few brief spats of intraday market volatility, but none were sufficient to prompt any rate changes from mortgage lenders. The Fed released the Minutes from its last policy meeting

January 3, 2018 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 Jan 3, 2018 Mortgage Rates Hold Steady Despite Fed's Warning Wed, Jan 3, 2018 3:44PM Mortgage rates were unchanged to slightly lower today, depending on the lender. Merely holding steady is a victory today. Reason being: bond markets (which dictate rates) weakened yesterday. That implied higher rates ahead. Lenders had the choice to change yesterday's rate sheets for the worse or to wait until this morning to make the adjustments. Very few issued reprices yesterday. In other words, this morning's rate sheets needed the overnight bond market strength in order to hold steady. Fortunately, that strength was just enough for the average lender to remain in similar shape to yesterda... (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: First Econ Data of the Year Plus Fed Minutes Wed, Jan 3, 2018 9:37AM Today brings the first significant economic data of the new year in the form of ISM Manufacturing at 10am.  During times when markets are actively responding to economic data, this is one of the most important reports.  It is traditionally ... (read more) MBS Live Recap: Bonds Stay Green Despite Fed Minutes and Stronger Econ Data Wed, Jan 3, 2018 4:56PM Bond markets improved overnight, but were under pressure in the morning after stronger ISM Manufacturing data and then again following the release of the Minutes from the December Fed meeting.  By the end of the day, a chart of 10yr Treasury yields looked like an EKG returning to a baseline.  One peak for ISM and a smaller secondary peak for the ... (read more) MBS Price Change UMBS 5.0 99.52 -0.25 UMBS 5.5 101.15 -0.13 UMBS 6.0 102.46 -0.08 GNMA 5.0 99.87 -0.20 GNMA 5.5 101.11 -0.08 GNMA 6.0 102.09 -0.10 Pricing as of: 9/9 12:03PM EST US Treasury Yield Change 2 YR Treasury 3.537 +0.049 5 YR Treasury 3.605 +0.043 7 YR Treasury 3.809 +0.040 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.732 +0.041 Pricing as of: 9/9 12:03PM EST Other News November Construction Spending Comes in Hot Wed, Jan 3, 2018 11:13AM Construction spending in November came in slightly above analysts' consensus for an increase of 0.6 percent. Overall expenditures for construction put in place during the month were at a seasonally adjusted annual rate of 1.257 trillion, a 0.8 percent gain from October and up 2.7 percent from November 2016. The October estimate was revised up from $1.242 tri... (read more) MBA Plays Catch Up After Holiday Hiatus Wed, Jan 3, 2018 9:29AM The Mortgage Bankers Association (MBA) closed its offices for the year-end holidays, so today's report on mortgage applications for the week ended December 29, 2017 covers changes since the Association's report for the week ended December 15. The data includes adjustments to account for the Christmas holiday. MBA's Market Composite Index, a measure of mortga... (read more) State Lending Law Changes Sweep Across the Country; LO Updates Wed, Jan 3, 2018 9:18AM Regardless of weather, there are 251 business days in 2018, one more than in 2017. For years we’ve been counting the days for rates to move higher, yet the 10-year Treasury note finished 2017 yielding 2.41% versus beginning 2017 yielding 2.45% - nearly unchanged! Yet the entire yield curve has been flattening: The Fed has raised short term rates, which... (read more) Latest Video The bond market is about to enter another cycle: Yamada ISM manufacturing index at 59.7 in December New York City real estate market takes a tumble in the fourth quarter Around the Web CNBC Fed minutes show 'last stand' by Yellen and the doves CNBC Tax cuts pushed Fed to raise economic forecast, meeting minutes show Calculated Risk Blog FOMC Minutes: New Tax Law "would likely provide a modest boost to capital spending" NAR - Realtor.com A Fight Over the Credit Score Lenders Use for Your Mortgage 4-traders.com A Hedge-Fund Titan Puts Away the Punchbowl Reuters Automakers post lower December U.S. sales; eye taxes, rate hikes builderonline.com N.Y. Builder's Bankruptcy Filing Has Buyers in Limbo Reuters U.S. construction spending rises to record high in November Calculated Risk Blog Reis: Office Vacancy Rate unchanged in Q4 at 16.3% CNBC ISM manufacturing index hits 59.7 in December; construction spending up 0.8% in November CNBC The Fed may be only thing that can stand in the way of a rally that has been impossible to stop Bloomberg All Talk, Few Answers From FOMC for Yellen's Long Inflation Miss CNBC Manhattan real estate prices and sales fell ahead of tax changes

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