Mortgage rates moved higher today , following stronger economic data at home and abroad. In general, stronger economic data implies better growth, higher stock prices and higher rates. Although the traditional levels of correlation between data and rates have been thrown off for various reasons over the past year, we still see examples of that correlation from time to time. Today was one of those days. Economic data was stronger in Europe and Asia during the overnight session. This resulted in bond markets moving toward higher rates even before the domestic economic data came out. Today's most significant domestic data was the ADP Employment report, which showed payroll creation of 250k per month compared to forecasts calling for 190k. This speaks to the potential for Friday's official numbers

January 4, 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 4, 2018 Mortgage Rates Move Higher on Strong Economic Data Thu, Jan 4, 2018 3:46PM Mortgage rates moved higher today , following stronger economic data at home and abroad. In general, stronger economic data implies better growth, higher stock prices and higher rates. Although the traditional levels of correlation between data and rates have been thrown off for various reasons over the past year, we still see examples of that correlation from time to time. Today was one of those days. Economic data was stronger in Europe and Asia during the overnight session. This resulted in bond markets moving toward higher rates even before the domestic economic data came out. Today's most... (read more) 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 5.5 101.10 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Day Ahead: On Guard Against Early 2018 Momentum Thu, Jan 4, 2018 9:42AM If you happen to read and retain most of what I write, you'll have noticed that toward the end of December, I increasingly mentioned that it wouldn't be until the first full week in January (which is NEXT week) that we'd be more likely to see the fir... (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 Live Recap: Bonds Battle Back After Old-Fashioned Sell-Off Thu, Jan 4, 2018 4:44PM The overnight session and early morning hours saw a good, old-fashioned economic-data-driven sell-off in bond markets.  Asian and European data were  both stronger.  That resulted in about half of the day's total damage for longer-term bonds.  The biggest market mover of the domestic session was the ADP Employment report, which was much... (read more) MBS Price Change UMBS 5.0 99.50 +0.06 UMBS 5.5 101.10 +0.03 UMBS 6.0 102.40 +0.03 GNMA 5.0 99.77 +0.04 GNMA 5.5 101.05 +0.00 GNMA 6.0 102.04 +0.07 Pricing as of: 9/10 5:48AM EST US Treasury Yield Change 2 YR Treasury 3.542 -0.026 5 YR Treasury 3.604 -0.023 7 YR Treasury 3.805 -0.027 10 YR Treasury 4.081 -0.002 30 YR Treasury 4.733 -0.002 Pricing as of: 9/10 5:48AM EST Other News Correspondent News; loanDepot's Builder Partnership; Settlement and Legal Info Thu, Jan 4, 2018 9:17AM A shift in housing? Returns for landlords softened last year as about 400,000 units entered the US multifamily-housing market, outstripping demand, according to RealPage . Rent increased an average 2.5% in 2017, down from a peak of 5.2% in 2015, while rent from newly signed leases decreased 0.9% in the fourth quarter compared with Q3. Settlements, Legal News... (read more) Latest Video What the tight labor market says about the economy: JP Morgan Chase chief e... ADP December payrolls up 250,000 US weekly jobless claims up 3,000 to 250,000 Around the Web Reuters St. Louis Fed's Bullard links tax bill with equity surge, stronger growth outlook Bloomberg California Says Wildfires Are Making Home Insurance Unaffordable Calculated Risk Blog Goldman: December Payrolls Preview Bloomberg Fed Puts Positive Spin on Wall Street's Trusty Recession Signal Calculated Risk Blog December Employment Preview CNBC Self made millionaire to millennials: Don't rentbuy Bloomberg Consumer Comfort in US Advanced in 2017 to a 16-Year High NMHC Flood Program Expires Jan 19; NMHC/NAA Urge Reauthorization Reuters U.S. private payrolls growth accelerates; jobless claims up Calculated Risk Blog Reis: Mall Vacancy Rate unchanged in Q4 2017 Freddie Mac Mortgage Rates Drop NPR Intel Acknowledges Chip-Level Security Vulnerability In Processors Bloomberg Powell Inherits Fed Rate-Hike Debate as Inflation Doubts Linger

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