Mortgage rates technically hit the lowest levels in 2 months today. The catch is that they were already pretty close and that today's improvement wasn't necessarily that big. In fact, most borrowers will see the same interest rate in today's quotes with the only difference being a slight adjustment in upfront costs/credits. We'd been waiting somewhat eagerly for today's Consumer Price Index (CPI)--a key inflation report with a consistent track record (at least in the past year) of causing movement for rates. When CPI is stronger than expected, rates tend to rise. When it's weaker, rates fall--all other things being equal. Today's CPI came out largely in line with expectations. The important "Core" number showed annual inflation right in line with the 2.1% forecast. In other words, our big potential

April 11, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Apr 11, 2018 Mortgage Rates Inch Down to 2-Month Lows Wed, Apr 11, 2018 3:16PM Mortgage rates technically hit the lowest levels in 2 months today. The catch is that they were already pretty close and that today's improvement wasn't necessarily that big. In fact, most borrowers will see the same interest rate in today's quotes with the only difference being a slight adjustment in upfront costs/credits. We'd been waiting somewhat eagerly for today's Consumer Price Index (CPI)--a key inflation report with a consistent track record (at least in the past year) of causing movement for rates. When CPI is stronger than expected, rates tend to rise. When it's weaker, rates fall--... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.30 +0.17   97.47 101.61 UMBS 30YR 6.0 102.45 +0.06   99.66 102.50 10 YR Treasury 4.035 -0.031   3.621 4.780 MBS Live Day Ahead: Syria Headlines Help, but CPI, Auctions, and Fed Remain in Focus Wed, Apr 11, 2018 8:30AM Bonds were flat yet again in the overnight session, but began to improve after Trump tweeted "get ready Russia," missiles "will be coming" in response to rising tensions in Syria.  As can be seen in the following chart, this was somewhat of a ... (read more) MBS Price Change UMBS 5.0 99.93 +0.30 UMBS 5.5 101.30 +0.17 UMBS 6.0 102.45 +0.06 GNMA 5.0 100.22 +0.22 GNMA 5.5 101.25 +0.12 GNMA 6.0 102.01 +0.00 Pricing as of: 9/15 5:47PM EST US Treasury Yield Change 2 YR Treasury 3.538 -0.015 5 YR Treasury 3.605 -0.026 7 YR Treasury 3.788 -0.028 10 YR Treasury 4.037 -0.030 30 YR Treasury 4.657 -0.024 Pricing as of: 9/15 5:47PM EST Other News The Past is Not Prologue in Housing Markets Wed, Apr 11, 2018 11:17AM Can the past be reliably expected to predict the future? Probably not if one is talking about consumer behavior and structural breaks in the housing cycle. That, at least, is the opinion of Wells Fargo Economists John E. Silvia, Azhar Iqbal, and Abigail Kinnaman in a two-part series in the company's Consumer and Retail Commentary newsletter. They say that, s... (read more) Mortgage Apps Declined Last Week, Despite Lower Rates Wed, Apr 11, 2018 8:53AM Mortgage applications, both for home purchases and refinancing, declined for the second consecutive week during the period ending April 6. The Mortgage Bankers Association (MBA) reports that its Market Composite Index, a measure of application volume, was down 1.9 percent on a seasonally adjusted basis compared to the week ended March 30. The unadjusted inde... (read more) Record Commercial/Multifamily Volume in 2017 Wed, Apr 11, 2018 8:56AM Multifamily mortgage financing was the big winner overall in what was a record setting year for commercial and multifamily originations. The Mortgage Bankers Association (MBA) said a record $530.1 billion in loans were closed in 2017, an 8 percent gain from 2016. The largest share of lending, more than half of the volume closed, was for multifamily propertie... (read more) Construction Product; Tax Guideline Changes From Lenders Wed, Apr 11, 2018 9:06AM Here’s some trivia for Happy Hour tonight. Who is Irene Triplett? Triplett is the sole surviving person sole surviving person to be receiving a Civil War pension from the VA. She is 87, the daughter of a “War of Northern Aggression” soldier, lives in North Carolina, and every month cashes a check for $73.13 from the VA. At the other end of ... (read more) Latest Video Surprising if the Fed doesn't continue with gradual rate pace, says economi... Fed discussed shifting to 'neutral' policy Economist says CPI 'mixed bag' but in line with expectations Around the Web NAHB Eye on Housing Housing Share of GDP CNBC Fed minutes: 'All' members see higher GDP and inflation, and more rate hikes CNBC Mulvaney pitches his revamp of consumer protection agency to Congress Bloomberg Yield Curve Spreads Are the Lowest Since 2007 CNBC Fed's Powell could sound more like Yellen if market turbulence gets too bad Bloomberg Portugal Wants Next ECB Head to Stick With Draghi's Approach Fannie Mae Fannie Mae Announces Offering of New Issue 3-Year ... Calculated Risk Blog BLS: CPI decreased 0.1% in March, Core CPI increased 0.2% Washington Post Tread very carefully when considering purchase of a home in a tax or foreclosure sale Reuters Missiles 'will be coming' to Syria, Trump warns Russia Reuters Futures drop on rising U.S.-Russia tensions over Syria Bloomberg Luxury Homes Are Taking Longer to Sell and That's Costing Owners Reuters Russia warns any U.S. missiles fired at Syria will be shot down

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