Mortgage rates didn't move much today, on average, even though underlying bond markets suggested a move higher. We talked about the stock/bond relationship being fairly well intact yesterday, and the same was true today. In other words, bonds ("rates") were ready to move lower in the event that stock losses accelerated. In today's case, stocks moved somewhat higher, and bond markets didn't like that. Fortunately for rates, the stock gains were minimal today. If that changes in the coming days, rates could come under additional pressure. Given that rates are in line with their best levels in nearly 2 months, and the risk that stocks are finding a floor here, this looks like a good tactical opportunity to lock as opposed to float in the short-term. Longer-term, things are a bit less clear as

April 3, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Apr 3, 2018 Mortgage Rates Fairly Steady Despite Underlying Weakness Tue, Apr 3, 2018 4:17PM Mortgage rates didn't move much today, on average, even though underlying bond markets suggested a move higher. We talked about the stock/bond relationship being fairly well intact yesterday, and the same was true today. In other words, bonds ("rates") were ready to move lower in the event that stock losses accelerated. In today's case, stocks moved somewhat higher, and bond markets didn't like that. Fortunately for rates, the stock gains were minimal today. If that changes in the coming days, rates could come under additional pressure. Given that rates are in line with their best levels in ne... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Recap: Bond Rally Hits Snag As Stocks Bounce Tue, Apr 3, 2018 4:18PM Granted, it's an on-again, off-again relationship between stock prices and rates, but it's been "on" for the past few days.  Today was no exception.  Stocks were close enough to their recent, relative abyss that any further weakness would have broken key technical floors.  The resulting selling would have likely helped bonds continue to rall... (read more) MBS Price Change UMBS 5.0 99.74 +0.27 UMBS 5.5 101.27 +0.15 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.09 +0.27 GNMA 5.5 101.22 +0.09 GNMA 6.0 102.16 +0.02 Pricing as of: 9/8 4:52PM EST US Treasury Yield Change 2 YR Treasury 3.495 -0.023 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.772 -0.029 10 YR Treasury 4.043 -0.044 30 YR Treasury 4.687 -0.082 Pricing as of: 9/8 4:52PM EST Other News Acting Director Urges Changes in CFPB's Structure Tue, Apr 3, 2018 1:01PM The Acting Director of the Consumer Financial Protection Bureau (CFPB) presented the Bureaus semi-annual report to Congress on Monday. The report, which details CFPB's work through the end of the 2017 Fiscal Year, was not the main event. Mick Mulvaney, who holds the temporary position in the CFPB along with being director of the Office of Management and Budg... (read more) Unwillingness to Refi or Sell Despite High Equity Tue, Apr 3, 2018 9:54AM The amount of equity available for tapping by homeowners hit a new recent high in February . Meanwhile, mortgage prepayment rates (how quickly owners are refinancing or selling) fell to the lowest levels since early 2014. Black Knight's Mortgage Monitor , which focuses on details of mortgage performance during the months, looked at these two aspects of that ... (read more) Home Prices Continue Upward, Defying Predictions Tue, Apr 3, 2018 12:43PM February looks as though it may be yet another month when the long-predicted end to rising rates of home appreciation was supposed to happen and didn't. CoreLogic, the first to report on home prices for the month, says home prices nationally increased 6.7 percent from February 2017 to the same month this year compared to a 12-month change in January of 6.6 p... (read more) Noteworthy Upcoming Events; LIBOR Update; 10YR Closes Lower for 3 Days Tue, Apr 3, 2018 9:13AM If anyone ever asks you, the average parking space is 180 square feet, which works out to 242 parking spaces per acre. Reuters reports that, due to Volkswagen buying back cars in the wake of its emissions scandal, there are 294,000 cars parked around America. That’s 1,214 acres. Trainings and Events The NAMB Swarm is coming up on Wednesday April 4th in... (read more) Latest Video Markets are rebounding, but will ‘turnaround Tuesday’ gains hold? Auto sales rate comes in at 17.48 million Market has started to trade tail risk of a trade war Around the Web Calculated Risk Blog U.S. Light Vehicle Sales increase to 17.5 million annual rate in March Calculated Risk Blog Philly Fed: State Coincident Indexes increased in 47 states in January Freddie Mac Freddie Mac Unveils Expedited Financing for Affordable Rentals CNBC John Williams named to take over key New York Fed president post Freddie Mac Freddie Mac Prices $250 Million Reopening of 2.375% Three-Year Reference Notes Security Calculated Risk Blog Update: Framing Lumber Prices Up Sharply Year-over-year Freddie Mac Freddie Mac Unveils Expedited Financing for Affordable Rentals CNBC New York's luxury real estate market is in a correction OCC Federal Banking Agencies Issue Final Rule to Exempt Commercial Real Estate Transactions of $500,000 or Less from Appraisal Requirements CNBC US Treasury yields rise ahead of Fed remarks Bloomberg Savers Rejoice: Your Interest Rate Is About to Climb CNBC New York Fed to launch U.S. Libor contender, slow takeup seen CNBC New York's luxury real estate market is in a correction

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