Mortgage rates moved back over the 5% threshold, on average, for the first time since early 2011 today following mixed data on the jobs market. Why would "mixed data" be such a problem? It's not, per se, but in this case, it reinforced certain trends that have posed big problems for rates. Namely, the annual pace of wage growth has now held at 2.8% or above for 4 months in a row. Previously, 2.8% was an isolated occurrence and sort of a magical line in the sand. Analysts and policy-makers lamented "frustratingly tepid wage growth" when we were below that line. Now that we're on the other side, the prevailing belief/fear is that wage growth is high enough to put upward pressure on inflation, and that's a big problem for interest rates (inflation is one of rates' mortal enemies). I don't want

October 5, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are Officially Back to 5% Mortgage rates moved back over the 5% threshold, on average, for the first time since early 2011 today following mixed data on the jobs market. Why would "mixed data" be such a problem? It's not, per se, but in this case, it reinforced certain trends... (read more) Housing News Artificial Intelligence Improves Profitability, Efficiency, and Customer Experience Mortgage lenders have been increasingly reporting tighter margins as costs rise for each actual loan transaction. In the last few years the principal reason behind this as revealed in Fannie Mae's quarterly Mortgage Lender Sentiment Survey has been i... (read more) Rob Chrisman Broker, Correspondent, Digital Products; Promotions, Layoffs, PE-Owned Lender Closures “Rob, is any lender making money out there?” Well, what’s the old “joke?” “How do you get $5 million in the mortgage biz? Start with $10 million!” Not so funny when it’s real. Few companies are prosperi... (read more) Mortgage Rate Watch Mortgage Rates Are Anything But Lower This Week! If you don't happen to make it past this first sentence, just know that anyone telling you rates are much higher today is NOT lying to you. Anyone telling you the opposite is wrong, even though they may not understand why they're wrong. Coming to suc... (read more) MBS Commentary MBS Live Day Ahead: The Readiness is All At this point, there's nothing left to be said or done in preparation for today's NFP data.  Bonds stand on the edge of the most recent abyss.  This time it's 3.20-3.24%-ish.  The specific level really doesn't matter (sorry Gundlach).&... (read more) MBS Commentary MBS Live Recap: It Can Always Go Either Way If you're looking for today's recap, check out the Huddle.  Or just know that we sold-off a bit more and then settled sideways, fairly close to yesterday's highest rates.  Mortgage lenders dinged rate sheets just a bit more and we're now wa... (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 8:41PM 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 8:41PM EST Latest Video Job growth slows in September Rates are rising for good reasons, but that's the biggest risk to the marke... Santelli Exchange: Lazear on the jobs report and rising interest rates Around the Web Calculated Risk Blog Q3 GDP Forecasts Bloomberg The Next US Recession Is Moving Further Away Calculated Risk Blog Annual Vehicle Sales: On Pace to decline in 2018 Calculated Risk Blog Comments on September Employment Report Redfin For-Sale Home Supply Surges In Hot West Coast Markets Reuters N.Y. Fed lowers U.S. Q3, Q4 GDP growth view Bloomberg US Trade Gap Hits Six-Month High as Soybean Exports Plunge 28% Bloomberg Italian Optimism, Gradual ECB, Rising US Debt Pile: Eco Day CNBC 4 overlooked perks of a high credit score Experian wants you to know about Reuters U.S. trade deficit jumps to six-month high in August CNBC Job growth slumps in September but unemployment rate falls to lowest since 1969 Bloomberg Why Weather May Skew Wage Signals in the September Jobs Report Bloomberg McDonald: Treasury Yields in New Trading Range

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