Mortgage rates fell modestly today, making it the 7th straight business day where they've moved in the opposite direction from the previous day. This see-saw pattern is commonly seen during periods of consolidation in the bond market (which serves as the foundation for mortgages and most other interest rates). And a consolidation is often seen during times of indecision just before markets embark on their next big move higher or lower. With many uncertainties set to be resolved by mid-March, there's a good enough chance that the recent sideways momentum in rates will give way to a bigger move. There's no way to know whether that move will be toward higher or lower rates (it will likely depend on the economic data, fiscal headlines, and Fed policy updates that have yet to be announced). For

February 19, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Sticking Close to Long-Term Lows Mortgage rates fell modestly today, making it the 7th straight business day where they've moved in the opposite direction from the previous day. This see-saw pattern is commonly seen during periods of consolidation in the bond market (which serves as... (read more) Housing News Low Rates and Strong Jobs Numbers Bolster Builder Confidence The Housing Market Index (HMI) continues to recover from the plunge it took in November and December when it dropped an aggregate of 12 points. The National Association of Home Builders (NAHB)/Wells Fargo measure of builder confidence in the market f... (read more) MBS Commentary MBS Live Day Ahead: Trading Range on Borrowed Time For all of the potential market movers that anyone can discuss so far in 2019, we really haven't seen any concerted effort to take yields higher or lower from key technical levels.  The higher of those levels was implied by late 2018 tradin... (read more) Mortgage Rate Watch Mortgage Rates in a Holding Pattern Mortgage rates were slightly higher today, marking the 6th day in a row where they've reversed course versus the previous day. This is the sort of behavior we see when underlying financial markets are having a hard time making up their mind (or are s... (read more) Housing News "Homeowners are in Great Shape," Delinquencies Improve Across the Board Mortgage loan delinquencies were down from the third quarter of 2018 in the fourth quarter. The Mortgage Bankers Association (MBA) said the improvements held across all loan types and all stages of delinquency although there was a slight uptick in fo... (read more) MBS Commentary MBS Live Recap: Deceptively Relevant Econ Data But Range Prevails Since Retail Sales rocked markets yesterday, perhaps bonds would be interested in responding to economic data again today?  This question seemed to have been answered when bonds apparently jumped following this morning's 8:30am economic data.&... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 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 99.70 -0.15 Price / Yield Change MBS UMBS 5.5 99.70 -0.15 UMBS 6.0 101.46 -0.11 GNMA 5.5 99.89 -0.08 GNMA 6.0 101.19 -0.22 Pricing as of: 7/3 10:44AM EST 10 Year US Treasury 4.3314 +0.0516 Price / Yield Change US Treasury 2 YR Treasury 3.873 +0.085 5 YR Treasury 3.926 +0.059 7 YR Treasury 4.112 +0.056 10 YR Treasury 4.331 +0.051 30 YR Treasury 4.848 +0.039 Pricing as of: 7/3 10:44AM EST Latest Video Hassett: Hard time believing recession this year February housing market index beats expectations How GDP can be improved, explained by Justin Wolfers Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in January Calculated Risk Blog Las Vegas: Convention Attendance and Visitor Traffic Declined Slightly in 2018 Bloomberg ECB Heavy Hitters Lay Groundwork for Response to Slowdown Reuters U.S. consumers forecast more spending than a year ago: NY Fed NAHB Eye on Housing Lower Interest Rates, Rising Consumer Confidence Boost Builder Sentiment Bloomberg Weak Inflation Casts Doubt on Riksbank Rate Hikes, Analysts Say Bloomberg ECB Is Awake and Asleep at the Same Time Bloomberg The Fed's 'First, Do No Harm' Policy Is Harmful Redfin Home Price Growth Edged Up Nationally in January While the West Coast Began Seeing Red Bloomberg How the Fed Can Make a Better Dot Plot After December's Misfire Bloomberg Treasury Levels Seen as `Danger' by Templeton's Desai Reuters Fed's Mester says rates likely will need to rise a bit CNBC TREASURIES-Yields range-bound amid mixed economic data

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