Mortgage rates edged up to 4-year highs with yesterday's bond market losses and things went from bad to worse today. Bond markets (which underlie and directly affect rates) are under extreme pressure today and have generally had a very bad September. Weakness in bonds equates to higher rates. So why are bonds weak? In part, this is weakness that was expected way back at the beginning of the year as the tax bill came to fruition and as economic data continued to suggest ongoing expansion. Given that the inflation/growth outlook was a whole lot worse in 2013 and early 2014 when 10yr Treasury yields briefly crested 3.0%, it stood to reason that those same yields would almost certainly need to move well over 3.0% this time around (inflation/growth are key factors in Treasury yields and rates in

September 18, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Sep 18, 2018 Mortgage Rates Officially Highest in at Least 5 Years Tue, Sep 18, 2018 3:35PM Mortgage rates edged up to 4-year highs with yesterday's bond market losses and things went from bad to worse today. Bond markets (which underlie and directly affect rates) are under extreme pressure today and have generally had a very bad September. Weakness in bonds equates to higher rates. So why are bonds weak? In part, this is weakness that was expected way back at the beginning of the year as the tax bill came to fruition and as economic data continued to suggest ongoing expansion. Given that the inflation/growth outlook was a whole lot worse in 2013 and early 2014 when 10yr Treasury yie... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.72 +0.05   95.05 99.96 UMBS 30YR 5.5 101.09 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Recap: Bonds Tank as 2018 Fears Become Real Again Tue, Sep 18, 2018 4:17PM Remember early 2018 when the fear was compounded by this list of bad actors? increased Treasury issuance to pay for the revenue shortfall in the new tax bill the upside economic/inflation potential created by the new tax bill A Federal Reserve that was increasingly intent on hiking rates and increasingly willing to decrease the size of its balance ... (read more) MBS Live Day Ahead: Bonds Adrift on an Angry Sea of Red Tue, Sep 18, 2018 9:14AM Not to be confused with the Red Sea, which is an actual place, the sea of red in the title is merely a reference to general bias toward weakness in bond markets for however long you care to look back in time (provided you don't look back more than 2 ... (read more) MBS Live Recap: Bonds Battle Back After Hitting Long-Term High Yields Mon, Sep 17, 2018 5:06PM 10yr yields briefly hit their highest levels since May 23rd this morning after one large trade started a snowball sell-off in Treasuries.  Before that, modest weakness was already intact. "A snowball sell-off to 4-month highs" sounds a bit more dramatic than the actual scope of weakness.  At the worst moments of the day, we were still looking a... (read more) MBS Price Change UMBS 4.5 97.76 +0.07 UMBS 5.0 99.72 +0.05 UMBS 5.5 101.09 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.94 +0.11 GNMA 5.5 100.93 +0.03 Pricing as of: 10/15 6:24PM EST US Treasury Yield Change 2 YR Treasury 3.500 +0.018 5 YR Treasury 3.620 +0.016 7 YR Treasury 3.805 +0.006 10 YR Treasury 4.029 +0.001 30 YR Treasury 4.626 -0.004 Pricing as of: 10/15 6:24PM EST Other News House-Hungry Millenials Help Keep Builder Confidence Solid Tue, Sep 18, 2018 10:29AM Builder confidence in the market for newly-built single-family homes stabilized a bit in September. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which has been wobbly in recent months, retained its August reading of 67 in September. The two months are tied at the lowest level of the index so far this year. "Despite... (read more) Broker, Sales Products; Lender and Agency Florence Updates Tue, Sep 18, 2018 8:41AM TRID 2.0: mandatory compliance on 10/1 is only a few weeks away. Temenos has a primer on it , as does Qualia . The MBA had a piece on it . The NY MBA has a webinar next week. In Michigan the MMLA has a seminar on it this week. Hopefully everyone’s up to speed already. Lender Products and Services Stearns Wholesale helps brokers grow and brand their bus... (read more) Latest Video Inflation is emerging as major threat to bull market, veteran investor Jack... China is always playing the long game, says former GE vice chair NAHB housing market index at 67 in September Around the Web NAR - Realtor.com Hurricane Florence Creating Housing Shortage for Displaced North Carolinians Federal Reserve Agencies propose rule regarding the treatment of high volatility commercial real estate Reuters Wall Street rallies as blow from fresh tariffs less than feared Bloomberg Parsing the Fed's Labor Participation Puzzle NAR - Realtor.com Buyers Are Fatigued,' Burned Out,' But Kept House-Hunting Even in August, Real-Estate Agents Say CNBC 'Another trillion in debt, here we come:' Cohn sees Trump working with Democrats on infrastructure Reuters Hurricane Florence insured losses $1.7 billion to $4.6 billion: AIR Worldwide consumerfinancemonitor.com California Enacts Additional Limits on Collecting Time Barred Debts Calculated Risk Blog California: "Housing market falters for fourth straight month", Inventory up 17.2% YoY Reuters Escalation in U.S.-Chinese trade conflict hits German firms: BDI Reuters Factbox: Over 300,000 customers without power in Carolinas after Florence Bloomberg Fed Will Hold After September Until 1Q, Says UBS' Zuercher Calculated Risk Blog Lawler: Early Read on Existing Home Sales in August

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