Mortgage rates didn't move for most lenders today. Remaining lenders were just slightly higher than yesterday, thus keeping this week's modest upward bias intact. In the slightly bigger picture, we had a fairly friendly consolidation in rates heading into last Friday and have been giving back the gains since then. While we're technically able to talk about rate "movement" on a day to day (and even minute by minute) basis, the average mortgage borrower isn't seeing big changes. In fact, in terms of the NOTE rate (the one at the top of a loan quote that determines the payment), there hasn't been any change in 2 weeks. It's only in the form of the more granular EFFECTIVE rate, which takes upfront costs into consideration, that we can observe any movement. In other words, we're looking through

July 10, 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 Jul 10, 2018 Mortgage Rates Slightly Higher So Far This Week Tue, Jul 10, 2018 3:45PM Mortgage rates didn't move for most lenders today. Remaining lenders were just slightly higher than yesterday, thus keeping this week's modest upward bias intact. In the slightly bigger picture, we had a fairly friendly consolidation in rates heading into last Friday and have been giving back the gains since then. While we're technically able to talk about rate "movement" on a day to day (and even minute by minute) basis, the average mortgage borrower isn't seeing big changes. In fact, in terms of the NOTE rate (the one at the top of a loan quote that determines the payment), there hasn't been... (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 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Day Ahead: Bonds Playing Defense Amid Slow Summer Backdrop Tue, Jul 10, 2018 9:14AM Yesterday saw the lightest Treasury volume of any full trading day so far this year.  That's no great surprise in July, as this tends to be the month that marks the true start of summertime absences among market participants.  If you've enc... (read more) MBS Live Recap: Once More With Less Feeling Tue, Jul 10, 2018 4:37PM If we look solely at the US trading hours, yesterday and today form a nearly perfect 2-day trend just slightly higher in rate.  Fannie 4.0 MBS prices have similarly shed 3/32nds (0.09) in a well-behaved trend channel.  If we include the full trading session, however, yesterday was the bigger deal and today was an afterthought.  On the other ... (read more) MBS Price Change UMBS 5.0 99.48 +0.04 UMBS 5.5 101.09 +0.02 UMBS 6.0 102.40 +0.02 GNMA 5.0 99.77 +0.04 GNMA 5.5 101.04 0.00 GNMA 6.0 102.04 +0.06 Pricing as of: 9/10 6:08AM EST US Treasury Yield Change 2 YR Treasury 3.544 -0.024 5 YR Treasury 3.607 -0.020 7 YR Treasury 3.809 -0.023 10 YR Treasury 4.086 +0.002 30 YR Treasury 4.740 +0.005 Pricing as of: 9/10 6:08AM EST Other News Jumbo Guidelines Loosening Quicker Than The Rest Tue, Jul 10, 2018 1:55PM The Mortgage Bankers Association attributed an increase in its Mortgage Credit Availability Index (MCAI) last month to increased competition among lenders for the jumbo prime mortgage market. MBA said its index increased 0.2 percent in June to 181.0. An increase in the Index indicates that credit standards are loosening. Due to competition which MBA's Chief ... (read more) Foreclosure Inventory Cruising on at 11-Year Low Tue, Jul 10, 2018 8:26AM The foreclosure inventory, that is the percentage of loans in the process of foreclosure, appears to have stabilized at 0.6 percent of all outstanding first mortgage loans. CoreLogic said on Tuesday that that the inventory has been unchanged at that level , the lowest since June 2007, since last August . The number is down 1 basis point compared to April 201... (read more) Training and Recruiting Products; Banking News; Loan Financing Needed Tue, Jul 10, 2018 8:37AM Pesky technology… it just won’t go away. Online lending platform fintech player (including mortgages) SoFi has launched a banking app (SoFi Money) in beta testing and expects it to be ready later this year. It includes a debit card that allows P2P payments and accepts mobile check deposits, offers combined checking and saving accounts for 1.1% i... (read more) Latest Video Yield curve raisies concern about a recession JOLTS down for May but still strong levels Don't fear the yield curve. 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