Mortgage rates held fairly steady this morning, keeping them in line with the highest levels since early August. As the day progressed, underlying bond markets weakened. This implies higher rates tomorrow or, for some lenders, a late day change to today's rate sheet offerings. The changes aren't severe, but at recent highs, every little bit hurts. If the next 5 days are anything like the past 5 days, we'd be looking at the highest rates since 2011! In other words, we may not be moving too much, but the outright levels continue to be unpleasant. There were no specific motivations in financial markets to account for today's bond market weakness. That said, there is anxiety about events coming up in the rest of the week. These include economic reports (like the inflation data tomorrow and Thursday

September 11, 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 Sep 11, 2018 Mortgage Rates Holding at Highs, Anxious About Days Ahead Tue, Sep 11, 2018 4:19PM Mortgage rates held fairly steady this morning, keeping them in line with the highest levels since early August. As the day progressed, underlying bond markets weakened. This implies higher rates tomorrow or, for some lenders, a late day change to today's rate sheet offerings. The changes aren't severe, but at recent highs, every little bit hurts. If the next 5 days are anything like the past 5 days, we'd be looking at the highest rates since 2011! In other words, we may not be moving too much, but the outright levels continue to be unpleasant. There were no specific motivations in financial m... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Bonds Not Afraid of More Weakness Tue, Sep 11, 2018 9:18AM Overnight weakness in bonds sets us up to test some more serious boundaries today.  As seen in the chart below (the same chart we've been watching for the last few weeks), yields have now risen to the bleeding edge of the consolidation range (... (read more) MBS Live Recap: Bonds Take Breather After Volatile Friday Mon, Sep 10, 2018 4:45PM Perhaps traders were tired?  Perhaps they are still on high alert but just haven't gotten to the week's more meaningful events yet?  Either way, there was effectively no drama for bonds today. This is both good and bad.   On a positive note, it was nice to come into the office today and NOT witness yields continuing to rise above the 2.95... (read more) MBS Live Recap: Bond Market Preparing For The Worst Tue, Sep 11, 2018 4:43PM With no intent of drawing any parallels to Hurricane Florence, bond markets are battening down their hatches in advance of a perfect storm of data and events.  These include economic reports in the coming days (PPI, CPI, Retail Sales), a healthy dose of supply (Treasury auctions and corporate debt issuance), and the European Central Bank announcement.&n... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:52PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:52PM EST Other News Jumbo Loan Guidelines Tightened in August Tue, Sep 11, 2018 4:15PM The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) moved lower in August due to a decline in its jumbo loan component index. The composite MCAI decreased 0.3 percent to 183.5. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. "Overall credit... (read more) More Competition and Less Demand? Lender Margins Looking Dismal Tue, Sep 11, 2018 12:57PM Mortgage lenders appear to be holding credit standards stable despite increasing competition and declining demand and profit expectations. Fannie Mae's third quarter Mortgage Lender Sentiment Survey found an increasing number of respondents reporting a net negative profit margin outlook, the eighth consecutive quarter they have done so. The net negative was ... (read more) Latest Video Expert says Dalio's outlook on next debt crisis revolves around disparity o... Here's Bob Pisani's key takeaways from the financial crisis When unemployment and inflation rate are the same number, it precedes reces... Around the Web consumerfinancemonitor.com Proposed House Bill Would Set National Data Security Standards for Financial Services Industry Redfin Ten Years Gone: Eight Graphs That Show the Unexpected Ways the Financial Crisis Changed the World Calculated Risk Blog Leading Index for Commercial Real Estate "Falters" in August CNBC Investors finally embrace big single-family rental companies a decade after the financial crisis NAR - Realtor.com Hurricane Season Bears DownWith 7 Million Homes at Risk and a Federal Flood-Insurance Program Set to Expire NAHB Eye on Housing Construction Job Openings Rise Again in July Bloomberg Florence May Be One of the Top-10 Most Expensive US Hurricanes Calculated Risk Blog BLS: Job Openings "Little Changed" in July CNBC Wholesale inventories rise 0.6% in July, vs. 0.7% expected CNBC The Fed thinks it's safe to keep hiking rates it's wrong, market researcher says Reuters Ten years after Lehman, spotting the next crisis: McGeever Calculated Risk Blog Small Business Optimism Index increased in August CNBC Dodd-Frank changed consumer protections after the financial crisis here's how that's working out

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