Mortgage rates fell modestly today, following a weaker-than-expected report on inflation. The Consumer Price Index (CPI) measures the change in prices that consumers pay for various goods. The widely followed "core" reading (which ignores more volatile food and energy prices) fell to an annual pace of 2.2%. Economists were expecting that number to remain at 2.4%. Lower inflation is good for rates because rates are based on the bond market. Bond investors are paying a lump sum today in exchange for a fixed schedule of payments in the future. Higher inflation means the money they receive in the future may have less buying power. When inflation is expected to rise, bond investors therefore demand higher premiums--another way of saying they're charging higher interest rates to borrowers. In the

September 13, 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 13, 2018 Mortgage Rates Slightly Lower Thu, Sep 13, 2018 3:34PM Mortgage rates fell modestly today, following a weaker-than-expected report on inflation. The Consumer Price Index (CPI) measures the change in prices that consumers pay for various goods. The widely followed "core" reading (which ignores more volatile food and energy prices) fell to an annual pace of 2.2%. Economists were expecting that number to remain at 2.4%. Lower inflation is good for rates because rates are based on the bond market. Bond investors are paying a lump sum today in exchange for a fixed schedule of payments in the future. Higher inflation means the money they receive in the ... (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: Weekly Candlestick Chart is Actually Hopeful. Should You Trust It? Thu, Sep 13, 2018 9:12AM Right off the bat, with respect to the headline, I'll let you know that the answer is going to be "it depends."  More on that in a moment.   Bonds are starting the day in stronger territory after a weaker CPI reading and a tame Europea... (read more) MBS Live Recap: Bonds Consolidate Despite Weak Data and Strong Auction Wed, Sep 12, 2018 4:06PM Today brought two events that should theoretically have helped bonds: a much weaker producer level inflation reading (2.4 vs 2.7 forecast for core PPI) this morning, and a fairly strong 10yr Treasury auction in the afternoon.  But neither had much of an impact by the end of the day.  To be fair, bonds did manage to gain a small amount of g... (read more) MBS Live Recap: Bonds Refuse to Rally Big After CPI's Big Miss Thu, Sep 13, 2018 4:53PM Bond markets were clearly interested in today's Consumer Price Index (CPI) data.  It generated a larger single minute of volume than the minute following last Friday's NFP report (the one that caused bonds to tank due to the wage growth component).  Given the much weaker reading, it was no surprise to see bonds rally fairly well for the next hour... (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 7:10PM 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 7:10PM EST Other News Mortgage Fraud Risks Rise, Especially Income Fraud Thu, Sep 13, 2018 11:58AM The risk of mortgage fraud jumped by 12.4 percent on an annual basis in the second quarter, the seventh consecutive quarter in which it has increased . CoreLogic said its Mortgage Application Fraud Risk Index now puts the rate of fraud at 0.92 percent or one of every 109 mortgage applications received. In the second quarter of last year the index was 0.82 pe... (read more) Marketing, Bank Statement, HELOC Products; Originator Events; Agency and Lender Disaster Updates Thu, Sep 13, 2018 8:57AM “Rob, would you happen to have a suggestion as to where I can find information as to the number of HUD loans done on manufactured housing last year, or by month?” Ah, the ol’ Title I activity query. The MBA’s Mr. Michael Fratantoni recommends that anyone needing that kind of thing take a look at these monthly production reports from H... 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