Mortgage rates finally did what they were supposed to do today. Specifically, they fell in response to bond market improvement. That's the way it should be, but over the past two days the typical relationship between bonds and mortgage lenders' rates has been a bit inconsistent due to the timing of market movement throughout the day. On Tuesday, bonds weakened throughout the day. This would normally coincide with rates moving higher, but the bond market weakness didn't happen quickly enough for most lenders to take action. As such, they were left to make the adjustment the following morning. Then on Wednesday, bonds improved, but not quickly enough for most lenders to bring rates lower. That left us with a bit of an advantage to start the day today. Before most lenders published their first

August 9, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 9, 2018 Lowest Mortgage Rates in Several Weeks Thu, Aug 9, 2018 3:58PM Mortgage rates finally did what they were supposed to do today. Specifically, they fell in response to bond market improvement. That's the way it should be, but over the past two days the typical relationship between bonds and mortgage lenders' rates has been a bit inconsistent due to the timing of market movement throughout the day. On Tuesday, bonds weakened throughout the day. This would normally coincide with rates moving higher, but the bond market weakness didn't happen quickly enough for most lenders to take action. As such, they were left to make the adjustment the following morning. T... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Bonds Look Like They Might Try Again Thu, Aug 9, 2018 9:42AM In the short-term (past few weeks), the trend has not been our friend.  After breaking above a narrow, sideways range, yields had been pushing higher and even crested 3% on the first 2 days of the month.  Over the past week, however, they'v... (read more) MBS Live Recap: Good Day For Bonds as PPI Stokes CPI Bets Thu, Aug 9, 2018 4:40PM Have you heard the one about the Turkish debt crisis?  Things are pretty bad for Turkey and the currency is indeed in freefall, but until the charts do something different, they're not yet making a compelling case for a "risk-off" connection to the US bond market.  Rather, today's action was centered on this morning's Producer Price Index (PPI). ... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.47 -0.07 GNMA 5.0 100.01 -0.06 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:37AM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.016 5 YR Treasury 3.581 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.065 +0.026 30 YR Treasury 4.723 +0.033 Pricing as of: 9/9 6:37AM EST Other News Fannie Mae Announces Wildfire Policies Thu, Aug 9, 2018 11:41AM Fannie Mae has informed us that they too have activated their disaster response policies for homeowners , this time for those affected by the California wildfires. Homeowners impacted are eligible to stop making mortgage payments for up to 12 months during which time they will not incur late fees or have delinquencies reported to the credit bureaus. While ho... (read more) MBA Says New Home Purchase Apps Reflect Housing Start Surge Thu, Aug 9, 2018 11:39AM The Mortgage Bankers Association (MBA) says that responses to its recent Mortgage Builder Applications Survey indicates an increase of 3.6 percent in applications for financing newly constructed homes in July compared to the same month in 2017. That is an 0.2 percent uptick from June. Based on the survey results, which are not seasonally adjusted, and other ... (read more) Lender Resources; More Zillow/MLOA Q&A; Rates Treading Water Thu, Aug 9, 2018 8:55AM Lots of originators are fascinated by demographics. Every year, about 27,000 people move from New York City to Philadelphia , making that specific move one of the largest region-to-region migration flows in the United States. New York in general is often the first stop for immigrants coming to the U.S., and Philly is appealing to both young families trying t... 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