Mortgage rates were steady to slightly higher yet again today. This reinforces our sense from yesterday that rates may have already found their post-Fed floor. The thing that makes today's modest weakness somewhat surprising is the fact that underlying bond markets actually suggested rates could improve. Actually, it would be more surprising to see this during a more normal time of year for the mortgage market. On the days leading up to the Christmas holiday, it's not uncommon to see lenders being a bit more conservative with mortgage rate offerings. In the bigger picture , rates are still very close to their lowest levels in months. In fact, with the exception of the past 2 days, today's rates are easily the lowest since the beginning of September. In general, if the broader economy (and the

December 21, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Modestly Higher Despite Stronger Bond Market Mortgage rates were steady to slightly higher yet again today. This reinforces our sense from yesterday that rates may have already found their post-Fed floor. The thing that makes today's modest weakness somewhat surprising is the fact that underlyi... (read more) Housing News Urban Institute: QM Rule May Penalize Self-Employed Households headed by self-employed persons make up about one-tenth of all households and have a median income higher than those headed by salaried persons. But, while both self-employed and salaried households were hit hard by the Great Recession, th... (read more) Rob Chrisman Loan Defect Report; Shutdown and Possible Impact on Lenders; Verus Non-QM Deal Welcome to the Winter Solstice with more daylight in the Northern Hemisphere every day for the next six months. Today is definitely greeted by residents of Fairbanks, Alaska where the sun sets at 2:40 in the afternoon (with a high temperature of -14)... (read more) MBS Commentary MBS Live Day Ahead: Glut of Data and a Dash For The Door One of the biggest surprises I encountered as I've learned about bond markets (and financial markets in general) over the years is just how big a role is played by human people.  There's a tendency to think that the market is so big, complex, ... (read more) MBS Commentary MBS Live Recap: Bonds Find Floor Despite Stock Slide Stocks and bonds haven't necessarily been joined at the hip for every moment of every day recently, but there's been enough correlation to make today's market movement significant.  Simply put, big, obvious breaks to or through new lows in sto... (read more) MBS Commentary MBS Live Recap: Bonds Side-Step Stock Drama After quite a bit of stock/bond correlation in the run up to the Fed announcement (and in the few hours that followed), the two sides of the market have gone their separate ways.  This is most evident during the past two days during stock... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.35 -0.01 Price / Yield Change MBS UMBS 5.5 99.35 -0.02 UMBS 6.0 101.28 -0.03 GNMA 5.5 99.62 -0.01 GNMA 6.0 101.25 -0.01 Pricing as of: 7/23 11:55PM EST 10 Year US Treasury 4.3868 +0.0031 Price / Yield Change US Treasury 2 YR Treasury 3.887 +0.009 5 YR Treasury 3.940 +0.010 7 YR Treasury 4.149 +0.005 10 YR Treasury 4.387 +0.004 30 YR Treasury 4.940 +0.001 Pricing as of: 7/23 11:55PM EST Latest Video Market not convinced after Fed's Williams interview, says equity trader Unexpected strength in apartment rentals Santelli Exchange: John Taylor on the Fed's balance sheet Around the Web Calculated Risk Blog Q4 GDP Forecasts: Mid-to-High 2s Reuters Williams soothes markets, says Fed listening and could change policy Reuters Republican U.S. senators: Talks under way on government funding compromise Reuters Special Report: U.S. military's new housing plagued by construction flaws CNBC Fed's Williams helps recast some views of Fed when he says it has 'eyes wide open,' is flexible NAHB Eye on Housing Consumer Spending Up, Saving Rate Down Calculated Risk Blog Reis: Apartment Vacancy Rate unchanged in Q4 at 4.8% Calculated Risk Blog Kansas City Fed: Regional Manufacturing Activity "Growth Slowed" in December Calculated Risk Blog Personal Income increased 0.2% in November, Spending increased 0.4% CNBC NY Fed President John Williams says the Fed could reevaluate view in 2019 CNBC TREASURIES-Bonds steady as threat of govt shutdown hurts risk appetite CNBC El-Erian: Fed chief Jerome Powell is trying to break the market's central bank 'co-dependence' CNBC US economy grew at 3.4% rate in the third quarter

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