Home prices for purchases financed by Fannie Mae and Freddie Mac appreciated at an 0.2 percent rate during June, and the estimate for May was increased from the 0.2 percent originally reported to 0.4 percent. It also appears that April's gain, which was revised last month from 0.1 percent to 0.2 percent has been revised again, up another 0.1 point. The Federal Housing Finance Agency, regulator and conservator for the GSEs, reported that home prices rose 6.5 percent compared to their Housing Price Index (HPI) for June 2017. Prices were up month-over-month in seven of the nine census regions , ranging from 0.1 percent in the West South Central division to 0.7 percent in the Mountain division. Those two states also posted the smallest and the largest year-over-year changes, 5.0 and 9.5 percent

August 23, 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 Aug 23, 2018 Mortgage Rates Extend Steady Streak Wed, Aug 22, 2018 3:45PM Mortgage rates haven't really moved for 9 straight business days. Some lenders have seen microscopic improvements during that time, but the average lender is still quoting the same rates and fees seen on August 13th. The underlying bond market is part of the problem. Bonds--which dictate rates--haven't been too interested in responding to conventional inputs. The bonds that underlie mortgages are especially guilty (compared to, say, US Treasuries which are more willing to respond to news and events at the moment). That doesn't mean nothing can happen that would have an effect, simply that the ... (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: Is Today The Day We Break 2.82? Should You Even Care? Thu, Aug 23, 2018 9:09AM Is today the day we break the "key technical level" at 2.82? Spoiler alert: you shouldn't care and it doesn't matter .  I'm sorry if this is disillusioning or confusing.  I spend a fair amount of time talking about technicals and various l... (read more) MBS Live Recap: Modest Gains Amid Risk-Off Headline Response; Fed Didn't Hurt Wed, Aug 22, 2018 4:07PM Today's gains are primarily a factor of the bond market's response to yesterday's Cohen headlines (plea deal regarding campaign finance violations).  Bonds aren't too flustered about the headlines, but a few traders sought safe havens due to the increased odds that the president will eventually be implicated by the underlying investigation.  ... (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 Are Home Prices Finally Pumping the Brakes? Thu, Aug 23, 2018 10:49AM Home prices for purchases financed by Fannie Mae and Freddie Mac appreciated at an 0.2 percent rate during June, and the estimate for May was increased from the 0.2 percent originally reported to 0.4 percent. It also appears that April's gain, which was revised last month from 0.1 percent to 0.2 percent has been revised again, up another 0.1 point. The Feder... (read more) New Home Sales Soften for Second Month Thu, Aug 23, 2018 10:55AM New home sales broke out of the up-one-month, down the next pattern they have adopted since March, and not in a good way . The Census Bureau and Department of Housing and Urban Development reported that sales of newly constructed single-family homes retreated further in July, declining 1.7 percent on top of a 5.3 percent loss in June . Sales during the month... (read more) Originator Webinars; IT and Vendor News; Rate Hike on the Horizon Thu, Aug 23, 2018 9:07AM “Rob, I think we’re going to make it.” Thus began a note I received yesterday from the owner of a small retail lender in the mid-Atlantic region. “We’ve moved from 90% refi to 70% purchase, have deep roots in the community, and 80% of our business is high margin govie production that is profitable. Yes, we’ve trimmed some ... 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