Mortgage rates moved LOWER today, following a policy announcement from the European Central Bank (ECB). That claim runs counter to almost any other mortgage rate headline in the mainstream news because big media is in the habit of quoting Freddie Mac's weekly rate survey. That's not necessarily a bad thing as long as you understand the underlying timelines. Unfortunately, most news outlets gloss over those important details or leave them out completely. Specifically, Freddie's survey is heavily weighted toward responses that come in on Monday and Tuesday, even though Wednesday is also technically included. Thursday and Friday are never counted. That means that any rate volatility that hits during the second half of the week typically isn't captured in Freddie's numbers. Long story short , because

June 14, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are Actually Unchanged This Week! Mortgage rates moved LOWER today, following a policy announcement from the European Central Bank (ECB). That claim runs counter to almost any other mortgage rate headline in the mainstream news because big media is in the habit of quoting Freddie Mac... (read more) Housing News Sales to Slump as Costs Drive Builder Bottleneck The Mortgage Bankers Association (MBA) is projecting a decline in new home sales in May. Its computation is based on information from its Builder Application Survey (BAS) which collects information on mortgage applications for new home purchases from... (read more) MBS Commentary MBS Live Recap: ECB Surprises Markets, But Bonds Liked It We knew the ECB (European Central Bank) was going to have to address its bond buying program soon, because it expires after September.  Several speakers had alluded to the likelihood that it would be addressed in today's announcement.  Mark... (read more) MBS Commentary MBS Live Day Ahead: Bonds Cheer ECB's Mic Drop Today's domestic session begins with a positive reaction to the European Central Bank (ECB) announcement.  The ECB broke from tradition by dropping their bigger bombs at the 7:45am announcement as opposed to Draghi's 8:30am press conference.&n... (read more) Rob Chrisman Digital Marketing Products; Freddie and Fannie Secondary Activity Picks Up The U.S. Bureau of Labor Statistics projects increasing customer usage of technology will reduce the number of bank tellers by 42,000 through 2026. Given their average pay is a little over $2k per month, I can see why some of the smarter ones are bei... (read more) MBS Commentary MBS Live Recap: Mostly a Knee-Jerk Reaction to Fed Dots and Powell In one sentence, today's Fed rate forecasts pushed bonds into weaker territory at 2pm and Jerome Powell's press conference helped to recover most of the losses. The forecasts showed a slightly higher probability of 4 rate hikes in 2018.  T... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.74 +0.10 Price / Yield Change MBS UMBS 5.5 99.74 +0.10 UMBS 6.0 101.53 +0.10 GNMA 5.5 99.94 +0.08 GNMA 6.0 101.43 +0.08 Pricing as of: 7/7 3:37AM EST 10 Year US Treasury 4.3250 -0.0217 Price / Yield Change US Treasury 2 YR Treasury 3.856 -0.027 5 YR Treasury 3.908 -0.029 7 YR Treasury 4.099 -0.026 10 YR Treasury 4.323 -0.024 30 YR Treasury 4.848 -0.016 Pricing as of: 7/7 3:37AM EST Latest Video Why rising interest rates are pushing down homebuilding stocks Trump tax cuts to surge debt past 90% of GDP by 2024, says IMF report Second-quarter GDP forecast at 3.9% Around the Web NAR - Realtor.com Sorry, Sellers: Your For Sale' Sign May Be Ugly and Desperate'Here's Why Reuters Trump's tariffs pose risk to global trade, U.S. economy: IMF NAHB Eye on Housing Regulation: Over 30 Percent of the Cost of a Multifamily Development CNBC The Fed has taken the first step toward an early exit from its balance sheet reduction Freddie Mac Mortgage Rates Back on the Rise Freddie Mac Freddie Mac Announces New Employment Initiative for Homeowners in High-Needs Areas Reuters EU nations back retaliating against U.S. steel tariffs Bloomberg Jolted Awake by the Fed, And Now Back to Sleep Brookings Institution Hutchins Roundup: Multinational profit shifting, competitive EU markets, and more Calculated Risk Blog Duy: FOMC Recap CNBC Ex-Trump advisor Gary Cohn says trade deficits don't matter, contradicting the president CNBC In this red-hot housing market, if a 'for sale' sign goes up, don't blinkyou might miss it Freddie Mac Mortgage Rates Back on the Rise

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