Mortgage rates moved higher today , reversing the improvement seen last Friday. The average lender is now back in line with their highest levels of the past few weeks, although that statement requires some qualification. During that time, mortgage rates have been in such a narrow range that we can only measure day-to-day changes in terms of upfront closing costs/credits. Actual interest rates haven't moved, but "effective rates" are back at recent highs. The net effect is that it would require several hundred additional dollars for every $100k financed in upfront costs to get the same interest rate. Part of the problem today--depending on your point of view--was exceptionally strong economic data. While it's good news for the economy, such data is generally bad for rates and today was no exception

September 4, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Snap Back to Recent Highs Mortgage rates moved higher today , reversing the improvement seen last Friday. The average lender is now back in line with their highest levels of the past few weeks, although that statement requires some qualification. During that time, mortgage ra... (read more) Housing News Public Sector Spending Helping Residential Construction Spending on residential construction continued to outpace construction in general in July although new home construction appeared to falter . The U.S. Census Bureau reports that total spending on construction during the month was at a seasonally adju... (read more) Housing News The (Not So) Curious Case of the Shrinking Homestead "Go West" may not be the best advice for someone in search of elbow room. The National Association of Home Builders (NAHB) says that housing lot sizes are shrinking everywhere , but they are smallest in the Pacific and Mountain divisions, and in the ... (read more) MBS Commentary MBS Live Day Ahead: Short Week Marks Transition Into Riskier Territory For the bond market, September and/or October often see bigger moves than the preceding summertime months.  There are notable exceptions, to be sure, but in general, the Fall tends to do a few things in a particular order of prevalence. Mo... (read more) Rob Chrisman Home Equity and Recruiting Products; Upcoming Events As Gordon bears down on the Gulf Coast, we’re 2/3 of the way through the 3rd quarter of 2018 already. How’d that happen? Looking ahead, most employed folks will have either Columbus Day (10/8) or Veterans Day (11/12) off, or both. For tho... (read more) MBS Commentary MBS Live Recap: Bonds Under Pressure After Stronger Econ Data From a calendar standpoint, there were two notable features today.  It was the first trading day in September--a month that often sees "something new" happen after bonds trudge through the summer doldrums.  It was also notable due to the ... (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 8:35PM 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 8:35PM EST Latest Video ISM manufacturing index at 61.3, highest since 2004 US rates are benefiting from weakness abroad, says expert Boockvar: Markets need to reconcile what's going on in the US vs overseas Around the Web CNBC These three factors are a 'recipe for higher yields,' Wells Fargo strategist says NAR - Realtor.com California Has Largest Public School Real Estate Premiums in U.S. CNBC Why homeowners outside of Gordon's path should check their insurance Reuters Atlanta Fed raises U.S. third-quarter GDP view to 4.7 percent blog.stewart.com How Much House $1 Buys 1998-2008-2018 SEC Agencies Extend Comment Period for Proposed Rule Simplifying and Tailoring the "Volcker Rule" CNBC U.S. construction spending rises slightly in July consumerfinancemonitor.com CFPB Provides Additional Guidance on HMDA Partial Exemption Calculated Risk Blog ISM Manufacturing index increased to 61.3 in August NAHB Eye on Housing In Four Southern States, Nearly 90 Percent of New Homes Have Porches Calculated Risk Blog CoreLogic: House Prices up 6.2% Year-over-year in July Reuters Italian bond yields tumble as market pessimism over budget recedes Bloomberg Trump's Fight With Canada Over Nafta Faces New Hurdles

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