Mortgage rates were roughly unchanged today. That would make this the 4th day in a row without any move higher in rates, and it would leave us at the lowest levels in roughly 2 weeks. But there's a catch. The catch has to do with the way that mortgage lenders change their rate sheets based on movement in underlying bond markets. Bond trading levels have a direct bearing on mortgage rates, but lenders can't very well change rates every few seconds when a new trade flashes in bonds. Rather, lenders have certain thresholds of strength or weakness in mind. As soon as bonds cross one of those thresholds, lenders will begin " repricing " for the better or worse. In other words, if bond yields (which equate to interest rates) rise enough during the course of the day, lenders will recall the day's

August 7, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Mostly Steady Today, But There's a Catch Mortgage rates were roughly unchanged today. That would make this the 4th day in a row without any move higher in rates, and it would leave us at the lowest levels in roughly 2 weeks. But there's a catch. The catch has to do with the way that mortgag... (read more) Housing News Wells Fargo: Deja Vu All Over Again Another day, another Wells Fargo PR disaster. The company is admitting they have foreclosed on about 400 homes owned by borrowers who were not allowed loan modifications to which they were entitled, delayed three years in admitting the problem, and a... (read more) MBS Commentary MBS Live Recap: Recent Winning Streak Breaks Down Bonds enjoyed a nice little winning streak beginning last Thursday.  As of yesterday, it had carried 10yr Treasury yields below the important 2.95% technical level.  From a technician's point of view, this initiated a " test " of the pivot ... (read more) Housing News Jumbo and Conventional Loans See Increased Availability Mortgage credit availability scored a significant gain in July. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.7 percent in July to 184.1, apparently the highest level since MBA began publishing it in... (read more) Housing News Two New Freddie Mac Pilots Target Affordable Rents Freddie Mac has announced two new affordable rental programs. The first is a pilot in three markets (Atlanta, Orlando, and Tallahassee) that supports both affordable housing and the surrounding community. The company is providing $7.8 million to The ... (read more) MBS Commentary MBS Live Day Ahead: When Moving Averages Converge! I received an interesting question yesterday as to whether or not there was any significance in the fact that 25, 50, and 100 day moving averages are right on top of each other on the 10yr Treasury chart.  I'm not too shy about saying that I thi... (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: 7/3 8:55PM 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: 7/3 8:55PM EST Latest Video Zillow CEO: Mortgage Lenders of America acquisition is foundational for us Yield curve influenced by global factors quite a bit, says expert How the 2008 financial crisis shook the global economy Around the Web Bloomberg Consumer Credit in US Increased Less Than Estimated in June CNBC This is how much of a home $300,000 will buy across the US Bloomberg Zillow Plunges After Revenue Forecast Misses, Analyst's Cut freddiemac.gcs-web.com Freddie Mac Announces Financing Initiative to Preserve Rental Affordability NAHB Eye on Housing Most Buyers Can Only Afford a Minority of the Homes For-Sale in Their Markets Calculated Risk Blog BLS: Job Openings "Little Changed" in June Reuters Japan wage growth hits 21-year high, signals pickup in household spending Reuters Commentary: For Treasury yields, 3 appears to be the magic number Reuters U.S. banks further eased business loan standards in Q2 2018 NAR - Realtor.com What Does Your Homeowners Policy Cover in Disasters? Often, Not Enough CNBC 'Too little too late': Bankruptcy booms among older Americans CNBC Trump may not like Powell rate hike policy, but stocks give Fed chair high marks in first six months Calculated Risk Blog Update: Framing Lumber Prices Fall from Record Highs, Up 20% Year-over-year

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