Mortgage application activity declined during the week as the 30-year mortgage rate crossed the 5.0 percent line for the first time in seven years and other products moved to new seven or eight year highs. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measures of application volume, declined by 1.7 percent on a seasonally adjusted basis during the week ended October 5. On an unadjusted basis the index was down by 2.0 percent. The seasonally adjusted Purchase Index lost ground for the first time in six weeks , decreasing by 1 percent compared to the previous week, and was down by 1.0 percent on an unadjusted basis as well. The unadjusted version remained 2.0 percent higher than during the same week in 2017. The Refinance Index fell by 3.0 percent and the share of

October 10, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Oct 10, 2018 Mortgage Rates Improve Slightly Today, But Risks Remain Tue, Oct 9, 2018 4:32PM Mortgage rates recovered a small portion of their recent losses today, but the average loan applicant might not even notice. The 2 key ingredients of a mortgage rate (for the purposes of tracking their movement) are the rate itself (the "note rate") and the upfront costs tied to that rate. The note rate and associated costs make up what many refer to as an "effective rate" (a number, expressed in interest rate form, that adjusts the actual note rate based on the implications of upfront cost changes. It takes big market movement to change note rates, largely because lenders tend to offer rates ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Day Ahead: Bonds Still Focused on Defense, But Hoping Offense Figures it Out Wed, Oct 10, 2018 9:36AM One of the most important themes I've tried to communicate over the past 2 weeks is that the bond market is in the middle of redefining or repricing its relationship with the available data.  There was a chance that 10yr yields would try to av... (read more) MBS Live Day Ahead: Where We Were, Where We Are, And Where We Might Be Going Tue, Oct 9, 2018 9:06AM 2009-2013 was an unprecedented time for the US bond market.  It benefited not only from the initial blast of the Great Recession and the sluggish recovery that followed, but also from the ongoing blast of Fed bond buying and ultra-low rate policy During that time, economic data only ever mattered inasmuch as it affected the Fed's accommodation ... (read more) MBS Live Recap: Token Correction Ahead of More Important Data Tue, Oct 9, 2018 5:12PM Today was a freebie for bond markets (and stocks to some extent).  In the grand scheme of things, no one will look back at today and conclude anything meaningful.  If anything, it will just look like a very calm, very flat trading day following a 3-day weekend for bonds. Yields hit new 7-year+ highs in the overnight session, but early domesti... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 5:08AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 5:08AM EST Other News Mortgage Application Activity Dwindles as Rates Move Higher Wed, Oct 10, 2018 8:11AM Mortgage application activity declined during the week as the 30-year mortgage rate crossed the 5.0 percent line for the first time in seven years and other products moved to new seven or eight year highs. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measures of application volume, declined by 1.7 percent on a seasonally adjusted... (read more) Warehouse and Non-QM Products; Agency Appraisal and Inspection Changes Wed, Oct 10, 2018 8:52AM As Hurricane Michael heads toward Florida & Georgia (with the wind and storm surge, lenders and investors act – for example, Mr. Cooper has temporarily suspended loan purchases in several Florida counties effective today), contractors and builders are watching. Things aren’t rosy in that sector. DR Horton, for example, added to the housing un... 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