Conventional wisdom holds that interest rates tend to move in the same direction as stocks. This makes logical sense from a classical investment portfolio standpoint. If investors are selling stocks to buy bonds, the prices of stocks would fall and the price of bonds would rise. When bond prices rise, rates fall. But even with today's heavy losses in stocks, mortgage rates barely budged today. The reality is that the "conventional wisdom" is far from bulletproof, even though there are lots of past examples that support it unequivocally. Beyond that, bonds are their own animal. If they have strong enough reasons to avoid going somewhere, it's going to take a very big move in stocks to get them to go somewhere else--bigger than we saw today. The bonds that underlie mortgage rates are yet another

June 25, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Relatively Unchanged Despite Stock Losses Conventional wisdom holds that interest rates tend to move in the same direction as stocks. This makes logical sense from a classical investment portfolio standpoint. If investors are selling stocks to buy bonds, the prices of stocks would fall and t... (read more) Housing News Big Shift in Lender Attitudes Toward Cutting Costs There was plenty of foreshadowing, but Fannie Mae's Chief Economist Doug Duncan said last week that cost-cutting has risen as a priority for mortgage lenders. Both the Mortgage Bankers Association's (MBA's) first quarter Quarterly Mortgage Bankers Pe... (read more) Housing News New Home Sales Up Sharply; Prices Slump The sales of new homes surged in May, outpacing the consensus of expectations, and while one months' data is just that, both median and average home prices were down sharply. The U.S. Census Bureau and the Department of Housing and Urban Development ... (read more) Rob Chrisman Wells' Layoffs; CRA Survey; Upcoming Training/Events; Jumbo News Experienced loan officers know that much of their success is a number’s game: W number of cold calls result in X number of potential leads, X number of potential leads result in Y applications, and Y applications turn into Z closings and commis... (read more) MBS Commentary MBS Live Day Ahead: Big-Picture Waiting Game Continues Most financial metrics are almost always either MOVING or CONSOLIDATING .  Those are pretty broad terms--especially when it comes to watching the market--but they need to be broad if we're only going to have 2 states of being for bonds! ... (read more) MBS Commentary MBS Live Recap: Big Stock Swoon and Bonds Barely Budge So much for the stock lever!  Though, to be fair to conventional wisdom , falling stock prices definitely did help bond yields move lower this morning.  In fact, it was the day's defining moment (heavy selling stocks at the 9:30am NYSE ope... (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 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/4 4:03AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/4 4:03AM EST Latest Video New home sales growth concentrated in more affordable south: Expert Santelli Exchange: Treasury headwinds and increasing equity volatility All-America Survey: 52% majority optimistic on economy Around the Web Reuters Wall Street pummeled by escalating trade threats CNBC The Fed's effort to control the rise of its key interest rate is running into some problems Brookings Institution 10 years later: 4 fiscal policy lessons from the global financial crisis Bloomberg Investors Traded $596 Million of a Treasuries ETF in a Bet on a Trade War Calculated Risk Blog A few Comments on May New Home Sales CNBC Morgan Stanley says rates are done going higher: 'That's right, 3.12 percent was it' Reuters U.S. top court rejects Nomura and RBS appeal in mortgage-backed securities case Calculated Risk Blog Chicago Fed "Index Points to Slower Economic Growth in May " Reuters Futures drop as trade tensions escalate NY Times What's the Yield Curve? A Powerful Signal of Recessions' Has Wall Street's Attention Calculated Risk Blog Duy: "No, A Recession Is Not Likely In The Next Twelve Months" CNBC Increased threat of a trade war is ramping up fears of a 'full-blown recession' NAR - Realtor.com The Outdoor Features That Will Boost Home Values the Most

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