After taking just one day off from the prevailing move higher, mortgage rates were back at it today, heading back to the worst levels in more than 9 months. The average lender is now back in line with the highs seen 2 days ago on Monday afternoon. Over slightly longer time-frames, rates have risen an eighth of a percentage point since last week, a quarter of a point from 2 weeks ago, and 3/8ths of a point since mid December. That makes this the worst run since the abrupt spike following 2016's presidential election. Unfortunately, this trend won't necessarily stop simply because things have "gotten bad." While it's true that the economic effects of higher and higher rates will eventually have a self-righting effect, that could take months--even years to play out. While this doesn't necessarily

January 24, 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 24, 2018 Mortgage Rates Can't Catch a Break Wed, Jan 24, 2018 3:34PM After taking just one day off from the prevailing move higher, mortgage rates were back at it today, heading back to the worst levels in more than 9 months. The average lender is now back in line with the highs seen 2 days ago on Monday afternoon. Over slightly longer time-frames, rates have risen an eighth of a percentage point since last week, a quarter of a point from 2 weeks ago, and 3/8ths of a point since mid December. That makes this the worst run since the abrupt spike following 2016's presidential election. Unfortunately, this trend won't necessarily stop simply because things have "g... (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 5.5 101.05 -0.02   97.47 101.61 UMBS 30YR 6.0 102.36 -0.02   99.66 102.50 10 YR Treasury 4.089 +0.006   3.621 4.780 MBS Live Recap: Bonds Back to Weaker Ways After 1-Day Break Wed, Jan 24, 2018 4:27PM Yesterday was nice while it lasted.   Against a sea of redness, it stood out like a beautiful green shoreline.  Unfortunately, that shoreline turned out to belong to an island and that island was quickly swallowed up by the angry red sea.  OK, so it wasn't quite that dramatic, but close! The weakness began right at the start of the overnigh... (read more) MBS Live Day Ahead: So You Want To Talk About The Dollar vs Rates? Wed, Jan 24, 2018 9:56AM Today is shaping up to be one of those days where we start off with a large overnight bond market movement followed by a rush of attempted explanations that don't quite pass muster.  This happens from time to time.  Market participants ha... (read more) MBS Price Change UMBS 5.0 99.44 +0.00 UMBS 5.5 101.06 -0.01 UMBS 6.0 102.36 -0.01 GNMA 5.0 99.73 0.00 GNMA 5.5 101.01 -0.03 GNMA 6.0 102.01 +0.03 Pricing as of: 9/10 1:35AM EST US Treasury Yield Change 2 YR Treasury 3.553 -0.015 5 YR Treasury 3.614 -0.013 7 YR Treasury 3.814 -0.019 10 YR Treasury 4.088 +0.004 30 YR Treasury 4.732 -0.003 Pricing as of: 9/10 1:35AM EST Other News Best Year For Home Sales Since 2006, Despite Headwinds Wed, Jan 24, 2018 11:22AM Despite a poor showing in December , existing home sales in 2017 were the best levels in 11 years. The National Association of Realtors® (NAR) said the finished with 5.51 million sales of existing single-family homes, townhomes, condos, and cooperative apartments. This edged out, by 1.1 percent, the 5.45 million sales in 2016 to have the highest number o... (read more) FHFA Home Prices Slow Slightly, Still Up in November Wed, Jan 24, 2018 9:56AM The Federal Housing Finance Agency said its House Price Index (HPI) racked up a 0.4 percent gain in November and the 0.5 percent appreciation rate reported in October was revised up to 0.6 percent. On a year-over-year basis the HPI was grew 6.5 percent, a slight downturn from the 6.6 percent annual gain the previous month. For the nine census divisions, seas... (read more) New Products; Bank Lending Trends; Fintech and CU's Jostling Wed, Jan 24, 2018 9:16AM “The kids convinced me to make popcorn for breakfast. That makes me either the best or worst dad ever – not sure which.” Breakfast at home is a fond memory for many, and Zillow wants to show you the breakfast nook. “Zillow,” which has never set foot in a single house, is launching 3D home tours to give buyers and sellers a more ... (read more) Latest Video Interest rates moving up the most likely to cause a market correction: Port... Fmr. Dallas Fed president: I see four Fed hikes this year Existing home sales down 3.6% in December Around the Web CNBC White House says Trump believes in a 'free-floating' currency CNN Who can take the new business tax deduction? Even tax experts aren't sure Reuters U.S. not starting trade war, but sees China tech threat: Ross Bloomberg Mnuchin, Dalio Raise the Stakes for Treasuries Before ECB Meets consumerfinancemonitor.com Mulvaney outlines new CFPB governing philosophy Calculated Risk Blog A Few Comments on December Existing Home Sales Bloomberg They'll Help Take Your Home Off Your Hands... So You Can Buy One of Theirs Calculated Risk Blog AIA: "Architecture billings end year on positive note" NAHB Eye on Housing California, Texas, and DC Most Reliant on Immigrant Construction Workers Bloomberg Dalio Warns That Rise in Yields Could Spark Bond Crash - Bloomberg ft.com Mnuchin backs weaker dollar in break with tradition CNBC A weaker dollar is good for the US, Treasury Secretary Mnuchin says NPR Senate Confirms Jerome Powell As New Federal Reserve Chair

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