Let's clear one thing up before we begin. Freddie Mac, MBA, and Ellie Mae all noted new 4-year highs in mortgage rates this week. They are all technically wrong. This has to do with the way their data is collected and/or averaged. And while I have no doubt that they are accurately conveying the results of their data collection efforts according to their methodology, there is a more accurate way to do things. Specifically, we can track actual lenders' rate sheets every day. Even if we take an average of that daily data, we still find that rates aren't quite back to 4-year highs just yet. Depending on the lender, these occurred on one of the days near the end of February. In fact, some lenders' rates from March 21st are still higher than today's. Are we talking about very big differences between

April 20, 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 Apr 20, 2018 Mortgage Rates Quickly Approaching 4-Year Highs Fri, Apr 20, 2018 2:18PM Let's clear one thing up before we begin. Freddie Mac, MBA, and Ellie Mae all noted new 4-year highs in mortgage rates this week. They are all technically wrong. This has to do with the way their data is collected and/or averaged. And while I have no doubt that they are accurately conveying the results of their data collection efforts according to their methodology, there is a more accurate way to do things. Specifically, we can track actual lenders' rate sheets every day. Even if we take an average of that daily data, we still find that rates aren't quite back to 4-year highs just yet. Depend... (read more) Mortgage Rates Jump to Highest Levels in About a Month Thu, Apr 19, 2018 4:35PM Mortgage rates jumped higher today as bonds continued a move away from narrow Springtime range seen in March and early April. Bonds dictate rate movement and yesterday saw the bond market make its first convincing attempt to break what had been a friendly, narrow range. This of course coincided with a narrow range for rates in the past few months. It was also "friendly" relative to the trajectory seen in the first part of the year. When these sorts of ranges become established, the boundaries take on a special significance. As soon as the floor or the ceiling is definitively broken, there tend... (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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: If Rates Keep Moving Higher, It Could Still Be a Head Fake Fri, Apr 20, 2018 9:20AM Rates are in the midst of a serious, threatening move higher.  Yesterday brought additional confirmation of the end of the friendly Springtime consolidation trend and it took us one step closer to the highest yields in more than 4 years.  The specific reasons for yesterday's weakness were covered in the MBS Live Huddle, but even then, the bigger-... (read more) MBS Live Recap: Bonds Add Exclamation Point to Yesterday's Breakout Thu, Apr 19, 2018 5:03PM The break outside what we'll call the "Springtime Consolidation" for bonds started taking shape as early as last week.  On Thursday and Friday, yields hugged the upper boundaries of that trend, simultaneously shying away from the sort of positive bounce that would typically suggest the trend's continuation.  No matter!  Perhaps they just nee... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.23 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.15 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:51PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.087 +0.048 30 YR Treasury 4.732 +0.042 Pricing as of: 9/9 5:51PM EST Other News Wells Fargo to Face Largest Fine Yet Fri, Apr 20, 2018 9:27AM Once again Wells Fargo is about to pay dearly for its inability to walk the straight and narrow. The Washington Post , under the byline of Renae Merle, is reporting that the bank is about to be hit with the largest penalty of the Trump administration , perhaps as early as today. A settlement, reported to be in the neighborhood of $1 billion, has been reached... (read more) MBA's Compliance Accreditation; Freddie and Fannie Changes Continue Fri, Apr 20, 2018 9:18AM Did you know that Wells Fargo gives more assistance and aid to people and communities through its Foundation than any other company in the United States. For example, “the Wells Fargo NeighborhoodLIFT program looks to the future by delivering down payment assistance and financial education to homebuyers.” If only people focused on that, right? No... (read more) Latest Video Rising interest rates may slow down home buyers Neel Kashkari: Flattening yield curve shows a ‘sign of caution’ Fundstrat’s Tom Lee on recession odds and what’s moving markets Around the Web Reuters U.S. banks push mortgage apps as home lending slows CNBC Fed's Kashkari: Bond market is 'yellow light flashing' about a possible recession Reuters Flat yield curve? Not to worry, Fed policymakers say CNBC Fed governor Brainard: Rising trade tensions are a 'material uncertainty' to the economic outlook NPR A Debt Crisis Seems To Have Come Out Of Nowhere Calculated Risk Blog Four Q1 GDP Forecasts: Around 2% CNBC What consumers need to know about the Wells Fargo settlement CNBC Likely New York Fed president says bitcoin 'doesn't pass the basic test' for a currency CNBC 'Gradual' pace of rate hikes likely to hold for years, Fed's Williams says Calculated Risk Blog Existing Home Sales: Lawler vs. the Consensus NAHB Eye on Housing Apartment Absorption Steady While Condominium Absorption Climbs Calculated Risk Blog BLS: Unemployment Rates Lower in 4 states in March; Kentucky and Maine at New Series Lows CNBC Mortgage rates hit their highest point since last month in a 'threatening' move

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