Mortgage rates must really like being where they are right now, because they've been at roughly the same levels for the past 5 days! Not only is this highly out of character for 2018, it's not even that common in general (might happen a few times a year, historically). And while the stability was relatively easy to reconcile during the first 4 days of the week, it comes as a surprise today. Reason being: the important jobs report was much stronger than expected and bond markets (which underlie rates) reacted in a clearly negative way. In other words, bonds suggested that rates should move noticeably higher today. There are two ways to make sense of this. On one hand, yesterday's bond market movements suggested improvement in rates that never materialized. In that sense, we were "owed," for

March 9, 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 Mar 9, 2018 Mortgage Rates Paradoxically Steady After Jobs Report Fri, Mar 9, 2018 3:53PM Mortgage rates must really like being where they are right now, because they've been at roughly the same levels for the past 5 days! Not only is this highly out of character for 2018, it's not even that common in general (might happen a few times a year, historically). And while the stability was relatively easy to reconcile during the first 4 days of the week, it comes as a surprise today. Reason being: the important jobs report was much stronger than expected and bond markets (which underlie rates) reacted in a clearly negative way. In other words, bonds suggested that rates should move noti... (read more) 3rd Straight Day of Steady Rates. 4th Unlikely Thu, Mar 8, 2018 5:46PM Mortgage rates were generally unchanged for the 3rd day in a row today despite a fair amount of movement in underlying bond markets. Rates reacted to European Central Bank (ECB) President Mario Draghi who gave no indications that the ECB would make abrupt changes to its policies. That's good for rates because even though those policies are on track to begin winding down in September, they're currently fairly rate friendly. What does Europe have to do with rates in the US? That's a fair question. To be sure, central bank policy coming from our own Federal Reserve ("The Fed") tends to have much ... (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 -0.18   97.47 101.61 UMBS 30YR 6.0 102.40 -0.13   99.66 102.50 10 YR Treasury 4.083 +0.043   3.621 4.780 MBS Live Day Ahead: Look At This Chart Before Assuming You Know What Matters Fri, Mar 9, 2018 8:29AM Beliefs, expectations, and assertions can be tricky business if they're not backed up by hard data.  No other economic report brings as many armchair economists off the bench to make predictions as nonfarm payrolls.  Recently (in the past 2... (read more) MBS Live Recap: Draghi Helps Bonds Hold Range Ahead of Jobs Report Thu, Mar 8, 2018 6:35PM The ECB released a policy announcement this morning.  They weren't expected to make any significant changes and indeed they made none.  Well, to be fair, they did remove a line about increasing bond purchases if the outlook worsened and there was a very small reaction at first (rates moved higher--mostly in Europe).  But Draghi's press confe... (read more) MBS Price Change UMBS 5.0 99.48 -0.30 UMBS 5.5 101.08 -0.20 UMBS 6.0 102.39 -0.15 GNMA 5.0 99.77 -0.30 GNMA 5.5 101.06 -0.13 GNMA 6.0 102.08 -0.10 Pricing as of: 9/9 5:21PM EST US Treasury Yield Change 2 YR Treasury 3.550 +0.063 5 YR Treasury 3.608 +0.046 7 YR Treasury 3.807 +0.038 10 YR Treasury 4.079 +0.040 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:21PM EST Other News Not all Recoveries are Created Equal Fri, Mar 9, 2018 9:50AM CoreLogic has been watching for signs of overvalued markets for some time. The company and its lead analysts Frank Nothaft, Molly Boesel, and Sam Khater have produced a special report "Evaluating the Housing Market Since the Great Recession," which plots the path that led to what can fairly be called a mixed recovery. Starting in December 2007 the country tr... (read more) FHA and VA Updates; U.S. Economy Continues to Strengthen Fri, Mar 9, 2018 9:15AM Let’s end the week with a non-mortgage related note about nature. You Tube has a live webcam a live webcam in the San Francisco Presidio of a Red-Tailed Hawk nest. Not much happens when its dark, but recently an egg was laid! Hawks couldn’t care less about legal settlements, but Lehman Brothers Holdings Inc.’s bankruptcy estate will pay $2.... (read more) Latest Video Treasury Sec. Mnuchin: Economy is not really at full employment yet Treasury Sec. Mnuchin: There may be more countries exempted from the tariff... Wholesale trade down 1.1% in January Around the Web Calculated Risk Blog Public and Private Sector Payroll Jobs During Presidential Terms Reuters U.S. eases way to more tariff exemptions under pressure from allies Freddie Mac Freddie Mac Prices $1.8 Billion Securitization of Re-Performing Loans CNBC Senate banking bill could make mortgages easier to get from your local bank Bloomberg Evans Says Fed Has Scope for Patience Before Tightening Again Calculated Risk Blog Comments on February Employment Report Brookings Institution Three things to watch ahead of the summit between Trump and Kim Jong-un NY Times The Economy Is Looking Awfully Strong Calculated Risk Blog February Employment Report: 313,000 Jobs Added, 4.1% Unemployment Rate CNBC Fed's Charles Evans goes out on a limb saying he would argue against a March rate hike Reuters U.S. allies line up for exemptions from Trump's tariffs CNBC Should the SEC investigate the wild moves in February? CNBC House Speaker Ryan opposes Trump's tariffs, warns of 'unintended consequences'

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