Mortgage rates are in big trouble . Whatever you've read about the current spike so far today, you'll probably need to double it after today's bond market movement. Why? Because most news stories on rates haven't yet accounted for today's bond market movement! The most prevalent source material is Freddie Mac's weekly survey which generally tracks lender quotes from Monday and Tuesday of any given week. The survey showed a 0.07% jump week over week. The actual jump is more like 0.12-.13. The average lender is now quoting 4.375% on top tier 30yr fixed scenarios. More than a few are already up to 4.5%. Lenders quoting rates much lower are likely doing so at the expense of profit margins and that could create sustainability concerns. Moreover, unless you're interacting directly with someone who

February 2, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Feb 2, 2018 Mortgage Rates in Big Trouble Thu, Feb 1, 2018 4:41PM Mortgage rates are in big trouble . Whatever you've read about the current spike so far today, you'll probably need to double it after today's bond market movement. Why? Because most news stories on rates haven't yet accounted for today's bond market movement! The most prevalent source material is Freddie Mac's weekly survey which generally tracks lender quotes from Monday and Tuesday of any given week. The survey showed a 0.07% jump week over week. The actual jump is more like 0.12-.13. The average lender is now quoting 4.375% on top tier 30yr fixed scenarios. More than a few are already up t... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Day Ahead: NFP Doesn't Matter Fri, Feb 2, 2018 8:28AM Just in case you haven't witnessed the multiple previous examples of the once and future king of economic data falling on deaf ears (relative to its former glory, anyway), financial markets haven't been much interested in NFP (the nonfarm payroll component of the Employment Situation report) for a couple years at least.  Part of the lack of interest is ... (read more) MBS Live Recap: Bond Rout Kicks Into Higher Gear Thu, Feb 1, 2018 5:08PM The first day of a new month always holds opportunities and risks for rates.  Investors who were compelled to hold certain positions through yesterday are suddenly more free to move about the cabin.  In today's case, most of them jumped out of that cabin!   There were some moments of reasonably flat trading earlier this morning, but... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 6:30AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 6:30AM EST Other News CFPB Wins What Could be a Hollow Victory Thu, Feb 1, 2018 10:52AM There was a partial win for the plaintiff in there somewhere, but the District of Columbia Circuit Court of Appeals reversed its earlier decision on Wednesday, and slapped back the premise behind the PHH Corp's suit against the Consumer Finance Protection Bureau (CFPB). The decision, in part, ruled that the single director structure of the Bureau is constitu... (read more) Health Care Construction a Big Winner in 2017 Thu, Feb 1, 2018 12:37PM Construction spending wound up the year with positive numbers for December and an increase in overall spending for the year . The U.S. Census Bureau tallied up the dollars spent for privately and publicly funded construction across all sectors at $1.231 trillion. This is a 3.8 percent advance over the $1.186 trillion spent in 2016. Overall construction dolla... (read more) CRA Trends; Homeowner's Insurance and Title News; Subservicing Product Fri, Feb 2, 2018 9:06AM The total number of slot machines in Las Vegas is down 23 percent from its peak in 2001, partially because slot gambling never really clicked with younger generations. But the casino business derives most of its revenue from the machines, so it’s looking into ways to get millennials interested in slots. Some people really like statistics, lists, and ra... (read more) Latest Video The Powell predicament Great rally of 2018 now under question: Art Cashin Santelli Exchange: Harvard University Prof. Ken Rogoff predicts four rate h... Around the Web Bloomberg Treasury Yield at 3% May Mark End of Rout, or Just the Beginning consumerfinancemonitor.com CFPB launches new formatting tool for HMDA reporting Bloomberg Trump Watching Bond Yield Surge Higher, Not Worried, Cohn Says NAR - Realtor.com 10 States Predicted to Have Strong Housing Markets in 2018 Reuters Dow sheds 400 points as bond yields rise on strong jobs data CNBC Winter may be the best time to rent an apartment CNBC Mortgage rates jump even higher after positive jobs report Calculated Risk Blog Update: "Scariest jobs chart ever" Calculated Risk Blog Comments on January Employment Report CNBC Yellen to start Monday at Brookings Institution, following Bernanke CNBC US consumer sentiment at 95.7 in Jan, vs 95.0 reading expected CNBC US factory orders post fifth straight monthly increase consumerfinancemonitor.com D.C. Circuit Rules That CFPB's View of RESPA Was Wrong But That its Structure is Constitutional

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