Mortgage rates rose moderately for the 3rd day in a row today, bringing them to the highest levels since December 31st for the average lender. In outright terms, this equates to an increase of an eighth of a percentage point (.125%) since the most recent lows last Thursday. While it's only 3 days of weakness in the mortgage market, the concern is that it could be part of a much larger market trend. Stock prices and interest rates moved lower together for the better part of 2 months. The drop was relatively extreme for stocks, and nothing to shake a stick at for rates. The risk is that we're only in the early phase of a bigger correction. While that would be great news for stock market investors, it would be less pleasant for those with a vested interest in lower mortgage rates. All of the above

January 8, 2019 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 Jan 8, 2019 Mortgage Rates Highest in a Week Tue, Jan 8, 2019 3:36PM Mortgage rates rose moderately for the 3rd day in a row today, bringing them to the highest levels since December 31st for the average lender. In outright terms, this equates to an increase of an eighth of a percentage point (.125%) since the most recent lows last Thursday. While it's only 3 days of weakness in the mortgage market, the concern is that it could be part of a much larger market trend. Stock prices and interest rates moved lower together for the better part of 2 months. The drop was relatively extreme for stocks, and nothing to shake a stick at for rates. The risk is that we're on... (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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.51 -0.03   99.66 102.51 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Day Ahead: Take This Shift Seriously Tue, Jan 8, 2019 9:28AM In some nearby parallel dimension, the letter "f" is option in today's title.  We'll have to remember this little trick the next time bonds bounce so we can refer to it as a "bull shift," but I digress.  The thesis is that there's serious '... (read more) MBS Live Recap: Bonds Start Strong But End Weak Mon, Jan 7, 2019 5:32PM Bonds had a chance to make the big potential correction of early 2019 a 1-day affair.  That would refer, of course, to last Friday's bond market weakness that followed an exceptionally strong jobs report and a market-friendly speech from Fed-Chair Powell.  In this case, the "market" = the stock market, which is bad news for bonds. Bonds had bee... (read more) MBS Live Recap: Early 2019 Bond Market Correction Threat Remains Tue, Jan 8, 2019 4:36PM For several weeks heading into the December Fed announcement, we discussed the impressive Nov/Dec bond market rally and the fact that the Fed would likely have the last say about market momentum until the jobs report at the beginning of January.  Whether it was due to the jobs report being much stronger than expected, or simply the fact that bonds had b... (read more) MBS Price Change UMBS 5.0 99.74 -0.04 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.05 -0.03 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/8 10:19PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.009 5 YR Treasury 3.570 +0.008 7 YR Treasury 3.775 +0.006 10 YR Treasury 4.046 +0.007 30 YR Treasury 4.699 +0.009 Pricing as of: 9/8 10:19PM EST Other News Despite Disaster Impacts, Loans are Performing Historically Well Tue, Jan 8, 2019 11:10AM Some housing market analysts have found recent trends in construction, home sales, and diminishing affordability disquieting and perhaps early warning signs of another housing-led recession . They may find loan performance metrics reassuring. CoreLogic's report for October indicates that, except for the impact of several recent natural disasters, those metri... (read more) Database, Section 184 Products; Lennar/Eagle Lawsuit; Mergers Continue Nationwide Tue, Jan 8, 2019 9:13AM In HELOC news, “traditional” lenders know that online lender Prosper plans to offer home equity lines of credit this year. The threats to real estate agents’ business models also just keep coming. Besides Clever, Ribbon Home, Zillow Offers, and Open door, this is now www.HomeGo.com. Who wouldn’t want to sell their house in one day, an... (read more) Latest Video Market is yanking the Fed's chain, says Sri Kumar Chinese investment in US housing grows Santelli Exchange: The Fed's toolkit Around the Web CNBC The Chinese middle class is buying up American residential real estate Calculated Risk Blog Seattle Area Real Estate in December: Sales Down 20% YoY, Inventory up 169% YoY Calculated Risk Blog Las Vegas Real Estate in December: Sales Down 17% YoY, Inventory up 82% YoY consumerfinancemonitor.com CFPB Finalizes Off-Balanced Approach to Public Disclosure of HMDA Data NAHB Eye on Housing Pending Home Sales Fall in November CNBC Job openings on the decline but still outpace available workers by more than 800,000 Bloomberg 10-Year Yields Will End Year at Around 3.1%, SocGen Says CNBC Amid the government shutdown, banks and credit unions are offering low-interest rate loans NAHB Eye on Housing NAHB 2019 "Priced Out" Estimates Bloomberg The Fed Is Ignoring the Biggest Lesson of 2008 Bloomberg BlackRock Says Treasuries Back as Havens, Yield Surge Over Washington Post Experts weigh in on what the 2019 housing market will bring CNBC Fed's Bostic sees one interest rate increase for 2019

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