Mortgage rates finally fell today after remaining flat for the last 3 business days. There are a few possible explanations for the friendly move, but the easiest to see and discuss is the weakness in the stock market. If you read my commentary somewhat regularly, you'll know that I'm no great fan of using the "stocks vs bonds" explanation for rate movement (bonds = rates), but in today's case, weakness in stocks was clearly correlated with strength in bonds (stronger bonds = lower rates). Much of this weakness surrounded trade-related headlines, however, so it's just as fair to say that bonds were reacting to trade war news. Either way, the lion's share of the reaction was reserved for mainstream bonds like US Treasuries. MBS (the mortgage-backed-securities that underlie mortgage rates) didn

June 27, 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 Jun 27, 2018 Mortgage Rates Finally Make a (Small) Move Wed, Jun 27, 2018 4:01PM Mortgage rates finally fell today after remaining flat for the last 3 business days. There are a few possible explanations for the friendly move, but the easiest to see and discuss is the weakness in the stock market. If you read my commentary somewhat regularly, you'll know that I'm no great fan of using the "stocks vs bonds" explanation for rate movement (bonds = rates), but in today's case, weakness in stocks was clearly correlated with strength in bonds (stronger bonds = lower rates). Much of this weakness surrounded trade-related headlines, however, so it's just as fair to say that bonds ... (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 5.5 101.10 -0.18   97.47 101.61 UMBS 30YR 6.0 102.40 -0.13   99.66 102.50 10 YR Treasury 4.083 +0.043   3.621 4.780 MBS Live Day Ahead: Lessons From Arthur Lemming, British Dental Association Wed, Jun 27, 2018 9:35AM Monty Python isn't for everyone, but the old TV series is chock full of life lessons and random knowledge that really helps round out one's trivia prowess.  In one sketch, Eric Idle is Arthur Lemming, a special investigator for the British Denta... (read more) MBS Live Recap: 2nd Best Day in More Than 2 Months Wed, Jun 27, 2018 4:49PM The last time trading levels in bond markets were this strong at the close of business, it was on the most dire day of the Italian political drama--the one that caused 10yr yields to drop all the way into the 2.7's .  The last time before that was in the middle of April.  In some ways, even though this is only the "2nd best" day since then, it's... (read more) MBS Price Change UMBS 5.0 99.48 -0.30 UMBS 5.5 101.08 -0.20 UMBS 6.0 102.39 -0.15 GNMA 5.0 99.77 -0.30 GNMA 5.5 101.06 -0.13 GNMA 6.0 102.08 -0.10 Pricing as of: 9/9 5:21PM EST US Treasury Yield Change 2 YR Treasury 3.550 +0.063 5 YR Treasury 3.608 +0.046 7 YR Treasury 3.807 +0.038 10 YR Treasury 4.079 +0.040 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:21PM EST Other News Pending Home Sales Fall Behind 2017 Levels for Fifth Month Wed, Jun 27, 2018 10:21AM The number of new contracts for existing home sales barely made it onto the bottom rung of analysts' expectations in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) was down from the April reading of 106.4 to 105.9, an 0.5 percent decline. It is the second month in a row the forward-looking indicator has fallen a... (read more) Freddie Mac's Investment Portfolio Posts Second Gain of 2018 Wed, Jun 27, 2018 9:06AM Freddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 6.3 percent in May. The portfolio balance at the end of the period was $2.123 trillion compared to $2.112 trillion at the end of April and $2.033 trillion at the end of May 2016. Purchases and Issuances totaled $35,493 billion, bringing the 2018 year-to-date total... (read more) Non-QM and Investment Property Products; Lender and Bank Mergers Wed, Jun 27, 2018 9:01AM Today is the last day for the Supreme Court session, and the rumor is that Justice Anthony Kennedy will soon announce his retirement from the $250k/year position. For lenders, the rumor mill and exaggeration also continue to churn. One low-producing LO or AE is let go, and word spreads that the division or channel is closing. An unprofitable branch is closed... (read more) Latest Video Existing home sales slip due to affordability crisis White House softens tone on trade with China Santelli Exchange: Negotiator-in-chief Around the Web CNBC Fed's Bullard warns there's a risk the Fed is raising rates 'too fast' NAR - Realtor.com U.S. Rental Rates Flatten in Major Cities as Supply Floods Market CNBC Bank mailings surge more than 40% as lenders pull out all the stops to get people to borrow more Calculated Risk Blog Reis: Apartment Vacancy Rate increased in Q2 to 4.8% Bloomberg Buy Treasuries on Trade War, Sell Aussie, $74 Billion Fund Says CNBC New orders for key US-made capital goods and shipments fell unexpectedly in May CNBC Treasury Secretary Mnuchin says he's expecting a 'big' GDP number Bloomberg Trump Decides Against Harshest Measures on China Investments Freddie Mac Freddie Mac Issues Monthly Volume Summary for May 2018 NPR Tell Us: Are You Having Trouble Finding A Home To Buy? Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in April CNBC This map shows where Americans have the highest, and lowest, credit scores Reuters U.S. consumer confidence slips, house price gains slow

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