Mortgage rates dropped abruptly today as political developments in Italy caused investor panic over the weekend. This is a bit of a complex topic, but the bottom line is that Italy will soon be voting on what will essentially be its membership in the European Union. Keep in mind that's a drastic oversimplification, but that's what financial markets are trading. An Italian exit of the EU could be a huge deal for several reasons. At the very best, the prospect creates uncertainty in financial markets. Traders cope with that by buying bonds (among other things) from countries that aren't going anywhere. The bigger the bond market for that country, the more readily it's treated as a safe haven. As such, much of the panic money has found its way into the US bond market. Excess demand for bonds pushes

May 30, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for May 30, 2018 Mortgage Rates Surge Lower Thanks to Italy Tue, May 29, 2018 3:37PM Mortgage rates dropped abruptly today as political developments in Italy caused investor panic over the weekend. This is a bit of a complex topic, but the bottom line is that Italy will soon be voting on what will essentially be its membership in the European Union. Keep in mind that's a drastic oversimplification, but that's what financial markets are trading. An Italian exit of the EU could be a huge deal for several reasons. At the very best, the prospect creates uncertainty in financial markets. Traders cope with that by buying bonds (among other things) from countries that aren't going an... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.72 +0.04   95.05 99.96 UMBS 30YR 5.5 101.09 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Day Ahead: Rally's Resolve Already Tested; Mind The Gap Wed, May 30, 2018 8:44AM Today begins with yesterday's Italy-inspired mega rally under heavy fire.  Compared to last Friday's closing levels, roughly half of the overall gains remain intact.  That means the important "gap" created by yesterday's opening levels... (read more) MBS Price Change UMBS 4.5 97.76 +0.07 UMBS 5.0 99.72 +0.05 UMBS 5.5 101.09 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.94 +0.11 GNMA 5.5 100.93 +0.03 Pricing as of: 10/15 6:14PM EST US Treasury Yield Change 2 YR Treasury 3.500 +0.018 5 YR Treasury 3.620 +0.016 7 YR Treasury 3.805 +0.006 10 YR Treasury 4.029 +0.001 30 YR Treasury 4.626 -0.004 Pricing as of: 10/15 6:14PM EST Other News Focus, Focus, Focus: Helping Buyers Find the Way Wed, May 30, 2018 8:39AM Buying a home is a process with a lot of moving parts. Do buyers make it more complicated, or even drop out of the process because they tend, for many reasons, to focus on the wrong ones? A lot of research, especially post-crash, such as Fannie Mae's National Housing Survey indicates that saving for a down payment and insufficient credit history are the bigg... (read more) Mortgage Applications Decline for Sixth Consecutive Week Wed, May 30, 2018 8:07AM Although interest rates extended their decline for the second week, the level of mortgage activity failed to respond. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage application volume, fell during the week ended May 25 for the sixth consecutive time. Applications for both refinance and purchase mortgages were do... (read more) Case-Shiller: Home Prices Up, Yet Again Tue, May 29, 2018 10:40AM It certainly must save time in the S&P CoreLogic Case-Shiller press office that they can reuse essentially the same headline month-after-month. This month it was "HOME PRICES NOT SLOWING DOWN." That is backed up by the Case-Shiller U.S. National Home Price NSA Index which covers all nine U.S. census divisions. It reported a 6.5 percent annual gain in Mar... (read more) Non-QM and Digital Products; Global Events Driving our Capital Markets Wed, May 30, 2018 9:06AM Plenty of people I know agree with the this Forbes article titled, “We Have Learned Nothing From The Mortgage Market Meltdown.” Builders are reducing labor costs by using premanufactured products that also require low maintenance. And what’s not to like about taking advantage of cheaper labor hundreds or thousands of miles away in an enviro... (read more) Latest Video US markets calmer after concern over Italy eases Weaker Europe outlook could change outlook for the Fed Don't bet on bonds for yield Around the Web builderonline.com The 2018 Public Builder Report Card CNBC US factories shift into 'higher gear' despite trade worries, Fed says NAR - Realtor.com The Latest Real-Estate Trend? Coloring Books for Grown-Ups Reuters Italy's Cottarelli opens door to possible eurosceptic government CNBC Bond fund managed by Bill Gross has worst day ever NAR - Realtor.com Hawaii Homes in Lava's Path Were Built Decades Ago Despite Geologic Threat Reuters Italy renews attempts to form a government and end turmoil blog.stewart.com Commercial Real Estate Cycles Q1 2018 Dr Glenn Mueller Calculated Risk Blog Q1 GDP Revised down to 2.2% Annual Rate CNBC Private-sector payrolls grew at a slower rate than expected in May CNBC Banks temper expectations for the first 'Volcker Rule' rewrite builderonline.com Homeowners Who Remodel Will Spend an Estimated $7,893 Per Home in 2018 Bloomberg This Financier Became a Fed Power Player"From the Inside and Outside

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