Mortgage rates rose moderately today (depending on the lender). It was enough to bring them back to the highest levels since early August. Additionally, we can expect them to be slightly higher on Monday unless underlying bond markets improve in Asia and Europe. Reason being: there was additional weakness in bonds this afternoon and most lenders didn't go to the trouble of adjusting their rate sheet offerings to account for it (though several lenders did). Weakness in bonds equates to higher rates, in general. As for underlying causes, today was all about the big jobs report this morning. Typically, bond markets will weaken if the report shows stronger job creation. That wasn't exactly the case today. While the tally of new jobs was higher than expected, it wasn't an impressive result by the

September 7, 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 Sep 7, 2018 Mortgage Rates Back at Recent Highs After Jobs Report Fri, Sep 7, 2018 2:53PM Mortgage rates rose moderately today (depending on the lender). It was enough to bring them back to the highest levels since early August. Additionally, we can expect them to be slightly higher on Monday unless underlying bond markets improve in Asia and Europe. Reason being: there was additional weakness in bonds this afternoon and most lenders didn't go to the trouble of adjusting their rate sheet offerings to account for it (though several lenders did). Weakness in bonds equates to higher rates, in general. As for underlying causes, today was all about the big jobs report this morning. Typi... (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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Day Ahead: NFP Could Probably Be Forgiven For a Miss Fri, Sep 7, 2018 8:33AM This morning's first chart is actually Private Payrolls (as opposed to nonfarm payrolls).  Reason being: NFP accounts for Census Bureau hiring which creates massive, temporary spikes and drops in payroll counts every 10 years.  Thus, if we ... (read more) MBS Live Recap: Wage Growth Breakout Prompts Bond Yield Breakout Fri, Sep 7, 2018 4:27PM Today's bond market wrap is as simple as the headline.  Average hourly earnings or AHE is occasionally responsible for some impressive moves in bonds.  Today was one of those days. Part of the problem was that there wasn't really any weakness in the payrolls number to offset the wage gains.  Granted, previous months had some downward revis... (read more) MBS Price Change UMBS 5.0 99.54 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.43 -0.11 GNMA 5.0 99.86 -0.21 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.07 -0.11 Pricing as of: 9/9 12:13PM EST US Treasury Yield Change 2 YR Treasury 3.542 +0.054 5 YR Treasury 3.610 +0.048 7 YR Treasury 3.816 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.737 +0.046 Pricing as of: 9/9 12:13PM EST Other News Increasingly Dire Labor Shortages in Builder Trades Fri, Sep 7, 2018 11:40AM Nearly all of America's home builders say they are facing significant shortages of skilled labor , both in the form of direct labor and as subcontractors. The lack of all types of carpenters is especially critical. The National Association of Home Builders (NAHB) included a set of special questions about labor availability in its NAHB/Wells Fargo Housing Mar... (read more) Employment Sentiment Buoys Consumer Sentiment Results Fri, Sep 7, 2018 10:43AM Consumers appear to be increasingly upbeat about their jobs and their income, but dramatically less so about getting involved in the real estate market. After two months of depressed results, Fannie Mae’s Home Purchase Sentiment Index (HPSI) gathered some oomph, rising 1.5 points to 88.0. The Index, based on responses to the company’s National Ho... (read more) Non-QM, Investment Property Products; ARM News; Tax and Fee Trends Fri, Sep 7, 2018 8:54AM Some are fond of saying, “Zillow’s never set foot in a house.” But the company is a force to be reckoned with, especially now that it is in the process of buying a lender (MLOA). And regardless of your opinion is about services like Zillow’s Zestimates, there is no doubt they have changed the way Americans research housing prices. How... (read more) Latest Video The end of Lehman Brothers Former Chinese central bank governor Zhao: Trade war impact on China econom... We've got no real gain in wages despite tightest labor market in 50 years, ... Around the Web Brookings Institution People in the middle of the middle are richer than those in the middle, says Pew. Mmm. Bloomberg Kudlow Says US Willing to Talk With China as Tariffs Loom Calculated Risk Blog Q3 GDP Forecasts Reuters Canada sees increasing chance NAFTA deal can be struck this month: source NAR - Realtor.com The New Mortgage Kings: They're Not Banks Brookings Institution Wessel's Economic Update: 5 points on the 10th anniversary of the financial crisis CNBC Strong jobs report gives Fed the green light for more rate increases Reuters Canada optimistic NAFTA deal can be struck this month: source Reuters Interest rate futures traders see more Fed hikes next year NAHB Eye on Housing Where are the Nation's Older Homes? Bloomberg Rental Glut Sends Chill Through the Hottest US Housing Markets CNBC Wage growth posts recovery high in August; payroll growth also beats expectations Reuters U.S. job growth seen picking up, unemployment rate falling

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