Mortgage rates moved higher today, bringing them up to yet another 9-month high. Underlying bond markets ended the week in roughly the same shape as last week, but the mortgage bond market has been volatile over the past 3 days. That volatility makes it more expensive for lenders to guarantee any given rate, thus accounting for the new highs this week. It's very important to note that there were two examples of reasonably positive movement in rates this week (Tue/Thu) and that both of them were quickly eclipsed and replaced with new long-term highs on the following day. It's for this reason that I've continued to advocate a defensive stance despite periodic victories. Such victories are bound to occur in any interest rate environment. We need to see bigger victories and more of them if it's

January 26, 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 26, 2018 Another 9 Month High and Same Cautionary Tale For Mortgage Rates Fri, Jan 26, 2018 2:02PM Mortgage rates moved higher today, bringing them up to yet another 9-month high. Underlying bond markets ended the week in roughly the same shape as last week, but the mortgage bond market has been volatile over the past 3 days. That volatility makes it more expensive for lenders to guarantee any given rate, thus accounting for the new highs this week. It's very important to note that there were two examples of reasonably positive movement in rates this week (Tue/Thu) and that both of them were quickly eclipsed and replaced with new long-term highs on the following day. It's for this reason th... (read more) Decent Day For Rates, But We Need More Than One Thu, Jan 25, 2018 4:54PM Mortgage rates improved modestly today, bringing them back in line with Wednesday afternoon's best levels. After underlying bond markets overcame volatility associated with a monetary policy announcement from the European Central Bank, they were further helped by a strong 7yr Treasury auction in the afternoon. While US Treasuries don't directly dictate mortgage rates, there's a good amount of correlation between the two. Strong demand for longer-term Treasuries bespeaks similarly strong demand for the bonds that underlie mortgages. The problem we're facing is that while rates have been able to... (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 Day Ahead: What's it Going to Take? Fri, Jan 26, 2018 9:56AM Today's chart is complicated at first glance, but I'll walk you through it step by step.  I'll also cover it in today's Huddle video for MBS Live members.  If you're not getting notifications when a new Huddle is available, you can enable... (read more) MBS Live Recap: Tons of Intraday Volatility Ends in Moderate Gains Thu, Jan 25, 2018 5:23PM There were several exciting lead changes in today's game for bond markets.  The early inning were devoted to parsing the European Central Bank's (ECB) announcement and subsequent press conference from ECB President Draghi.  In a nutshell, bonds liked the announcement at 7:45am but didn't much care for Draghi's comments (which began at 8:30am).&nb... (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 Freddie Mac Takes on More Loans, More Delinquencies in December Fri, Jan 26, 2018 10:09AM Freddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 9.0 percent in December. The portfolio balance at the end of the period was $2.098 trillion compared to $2.092 trillion at the end of November and $2.011 trillion at the end of December 2016. Purchases and Issuances totaled $46.359 billion, bringing the 2017 total... (read more) LO Products and Jobs; FHA and VA Updates Fri, Jan 26, 2018 9:13AM When I grow up I want to… live in a shipping container live in a shipping container ? Hey, don’t laugh… they’re here, and some suggest are a piece of solving the affordable housing problem. Hey, if the appraiser can find the comps, the Agencies will buy the loans, they’re golden, right? Well, maybe. Yesterday we learned that 2... 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