Mortgage rates rose gently today. Most mortgage borrowers (and many mortgage professionals, for that matter) wouldn't be aware of slightly more alarming risks lurking underneath the surface. Those risks involve the broader bond market from which mortgage-related bonds take their directional cues. More simply put, if US Treasuries are improving, mortgage-backed bonds tend to improve as well. The level of correlation varies though. For nearly all of 2018, mortgages weren't improving as quickly as the most widely-used rate benchmark: 10yr Treasury yields. That began to change recently--especially when 10yr yields began moving higher 3 weeks ago. During that time, we've seen moderate moves higher in 10yr yields met with modest moves higher in mortgage rates. Today was another one of those days

January 18, 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 18, 2019 Mortgage Rates Nominally Higher Despite Bond Market Warning Fri, Jan 18, 2019 3:47PM Mortgage rates rose gently today. Most mortgage borrowers (and many mortgage professionals, for that matter) wouldn't be aware of slightly more alarming risks lurking underneath the surface. Those risks involve the broader bond market from which mortgage-related bonds take their directional cues. More simply put, if US Treasuries are improving, mortgage-backed bonds tend to improve as well. The level of correlation varies though. For nearly all of 2018, mortgages weren't improving as quickly as the most widely-used rate benchmark: 10yr Treasury yields. That began to change recently--especially... (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 5.5 101.17 -0.11   97.47 101.61 UMBS 30YR 6.0 102.48 -0.06   99.66 102.50 10 YR Treasury 4.073 +0.034   3.621 4.780 MBS Live Recap: One of Three Things is Going on With Bonds Fri, Jan 18, 2019 4:11PM Bond markets sold-off today in a slightly more alarming way than we've seen so far in 2019.  This was accompanied by 11th straight trading session where stocks closed higher than they opened, as well as the best S&P prices in more than a month.  One of three things could be going on. At face value, this is alarming .  The first o... (read more) MBS Live Day Ahead: Bonds Break One Ceiling, But The Next One is More Important Fri, Jan 18, 2019 9:44AM Ever since bottoming out in early 2019, 10yr Treasury yields faced a pretty clear line in the sand from a technical standpoint.  2.82% stuck out like a sore thumb overhead due to multiple instances where it acted as a floor in 2018.  It may... (read more) MBS Price Change UMBS 5.0 99.55 -0.23 UMBS 5.5 101.18 -0.10 UMBS 6.0 102.47 -0.07 GNMA 5.0 99.81 -0.26 GNMA 5.5 101.01 -0.17 GNMA 6.0 102.05 -0.13 Pricing as of: 9/9 11:51AM EST US Treasury Yield Change 2 YR Treasury 3.531 +0.043 5 YR Treasury 3.597 +0.035 7 YR Treasury 3.802 +0.033 10 YR Treasury 4.075 +0.035 30 YR Treasury 4.729 +0.039 Pricing as of: 9/9 11:51AM EST Other News Has RESPA's Servicer Rule Reduced Foreclosures? Fri, Jan 18, 2019 12:55PM In accordance with requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (CFPB) recently conducted five-year assessments of two rules it promulgated under the act. We summarized their assessment of the Ability-to-Repay/Qualified Mortgage rule last week. What follows is a brief summary of the a... (read more) New Home Sales Pull Back Amid Global Uncertainty Fri, Jan 18, 2019 8:22AM Applications for new home purchases dropped in December , falling 6.8 percent behind those a year earlier. The deficit from November was even larger, a decline of 13 percent. The Mortgage Bankers Association (MBA) estimates that those numbers, which do not include any adjustment for seasonal patterns, translates into new home sales during the month at an ann... (read more) Condo, Sales, and Business Intelligence Products; Freddie and Fannie Program Changes Fri, Jan 18, 2019 9:11AM For the first time in history, the six biggest banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — made $100 billion in profit in a year. Yowzah! There’s a lot going on out there, and Ben Smidt put out his “Mortgage Expert Insights on Business Planning Strategies” that is worth a g... 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