Daily Newsletter: Monday April 8, 2019

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April 8, 2019

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Compare Mortgage Rates from Local Lenders for Apr 8, 2019

Rates Fall Back to Week's Best Levels After Jobs Report

Fri, Apr 5, 2019 4:08PM

Mortgage rates moved lower today following a mixed report on the US labor market. The once-a-month Employment Situation (the official name for the "jobs report" that often influences interest rates) was out this morning and it had something for everyone. For those who'd like to remain upbeat on the labor market, there was a 196k increase in the number of jobs created in March, which compared favorably to forecasts calling for 180k. Had this been the only data point, rates may have moved higher (stronger economy/job market = higher rates, all other things being equal). But other components pain... (read more)

Mortgage News Daily	Rate	Change	Points
30 Yr. Fixed	6.29%	+0.01	0.00
15 Yr. Fixed	5.69%	+0.04	0.00
30 Yr. FHA	5.98%	+0.04	0.00
30 Yr. Jumbo	6.25%	0.00	0.00
7/6 SOFR ARM	5.68%	+0.06	0.00
30 Yr. VA	6.00%	+0.05	0.00
Updates Daily - Last Update: 9/9

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

MBS Live Week Ahead: Bonds Defend The Ceiling Amid Inflation Data, Auctions, Fed, and Brexit

Mon, Apr 8, 2019 9:46AM

At first glance, this week's economic calendar is fairly light, with Wednesday's Consumer Price Index (CPI) being the only upper-tier report in terms of potential market movement. Even then, we haven't seen as much of a reaction to recent examp... (read more)

MBS Live Recap: Mixed Signals in Jobs Data Forces Bonds to Punt

Fri, Apr 5, 2019 5:39PM

The tale of two ranges continued in grand fashion overnight as 10yr yields made it all the way to the top of the lower, better range seen since the March 20th Fed announcement. Granted, they were already closing in on those levels by yesterday, but fresh US/China trade headlines were good for another few bps of higher yields. Arriving at the crossr... (read more)

MBS Live Day Ahead: Rates Return Perfectly To Midfield Before NFP Calls Next Big Play

Fri, Apr 5, 2019 8:20AM

Yesterday's bond market volume was as low as it's been since Monday, March 18th. Then, like now, bonds were on the approach to a big potential market mover, although the March 20th Fed announcement was almost guaranteed to be a big deal wh... (read more)

MBS	Price	Change
UMBS 5.0	99.45	-0.32
UMBS 5.5	101.06	-0.22
UMBS 6.0	102.38	-0.16
GNMA 5.0	99.76	-0.32
GNMA 5.5	101.03	-0.16
GNMA 6.0	102.01	-0.18
Pricing as of: 9/9 5:53PM EST

US Treasury	Yield	Change
2 YR Treasury	3.557	+0.070
5 YR Treasury	3.615	+0.054
7 YR Treasury	3.814	+0.045
10 YR Treasury	4.085	+0.046
30 YR Treasury	4.731	+0.041
Pricing as of: 9/9 5:53PM EST

Other News

HELOC, Jumbo, Non-QM, and Broker Products; Bank Mergers, Capital Markets

Mon, Apr 8, 2019 8:24AM

The move down in rates has sparked optimism about volume (and perhaps margins) out there. But mergers and acquisitions (M&A), and the details thereof, for many reasons, continue. For example, HomeStreet, Inc., the parent company of HomeStreet Bank announced an executed definitive agreement for Homebridge Financial Services to acquire the assets of up to ... (read more)

Appraisal and Construction Products; Lots of Events; Agency Changes

Fri, Apr 5, 2019 9:05AM

Some New Yorkers like to think that they’re at the Center of the Universe. But, though larger Java, in terms of islands, in Indonesia, is home to 135 million inhabitants versus Manhattan’s 1.7 million. (And although Manhattan does have about 125,000 hotel rooms, it is less than Las Vegas’ 152,000 and Orlando’s 150,000.) What about hou... (read more)

Latest Video

January new home sales drop nearly 7%

Bank of America CEO: Loan demand showing consistent growth

UK parliament votes on options to delay Brexit

January new home sales fall short of expectations, down 6.9 percent

Around the Web

CNBC

Climate change will crush real estate values for investors who don't prepare, new report says

CNBC

These 40 cities may see housing prices decline, survey says

Reuters

UK Lords approve Brexit law forcing May to consult parliament on delay

Reuters

Explainer: For Fed's trillions in bonds, size isn't all that matters

CNBC

Fed claps back at Trump over claims that monetary 'tightening' is hurting the economy

CNBC

These 40 cities may see housing prices decline, survey says

Calculated Risk Blog

Update: Framing Lumber Prices Down 30% Year-over-year

builderonline.com

Three New Tools for Boosting Credit Scores Coming Online

Reuters

U.S. Fed proposes new regulatory regime for foreign banks

Calculated Risk Blog

Las Vegas Real Estate in March: Sales Down 16% YoY, Inventory up 92% YoY

CNBC

Housing sentiment surges in March, and sellers are the most optimistic

Reuters

Investors hit pause as ECB and Brexit risks loom

CNBC

Herman Cain on possible Fed nomination: 'The people who hate me are digging up negative stuff'

Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.

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