Mortgage rates rose again today, albeit at a slightly slower clip compared to yesterday. Still, that's little consolidation considering this is the 4th straight day spent moving in that unfriendly direction. The average lender is now back to levels not seen since March 19th. On the bright side, March 19th's rates were the lowest in more than a year at the time. So what's going on? In general, the month of March saw the confluence of 2 great things for rates. Not only was there a generally high level of concern/uncertainty surrounding the global economic outlook, but the Fed was also surprisingly helpful. This was a bit of a double-edged sword because the Fed's helpfulness was predicated on that same sort of concern/uncertainty. In other words, if events unfold in such a way as to ease that

April 16, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Apr 16, 2019 Mortgage Rates Highest in Nearly a Month Tue, Apr 16, 2019 4:22PM Mortgage rates rose again today, albeit at a slightly slower clip compared to yesterday. Still, that's little consolidation considering this is the 4th straight day spent moving in that unfriendly direction. The average lender is now back to levels not seen since March 19th. On the bright side, March 19th's rates were the lowest in more than a year at the time. So what's going on? In general, the month of March saw the confluence of 2 great things for rates. Not only was there a generally high level of concern/uncertainty surrounding the global economic outlook, but the Fed was also surprising... (read more) Mortgage Rates Highest in More Than 3 Weeks Mon, Apr 15, 2019 5:25PM Mortgage rates continued higher to start the week, following a relatively sharp increase on Friday. Interestingly enough, the underlying bond market was stable today. In other words, it didn't suggest higher rates. But the issue is that mortgage lenders adjust their rate sheets only a few times on the most volatile days. Many of them didn't get around to it on Friday afternoon. Those who did were greeted with another hour of bond market weakness before the week finally ended. In other words, the underlying market was indeed suggesting we'd see mortgage rates roughly where they are today and le... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Day Ahead: Be Careful What You Read and Whom You Trust Tue, Apr 16, 2019 10:32AM Reading the news this morning, I came across multiple articles with such bogus claims that I feel compelled to rant about it here.  All of the offenders (I stopped looking after 3 out of 3 all said the same thing) suggested that the overn... (read more) MBS Live Recap: Bonds Defy Friday's Logic to Hold Flat Mon, Apr 15, 2019 6:15PM What would you expect to care more about Chinese economic data: the US bond market or the Chinese stock market?  Option 2?  Good, I agree. Now, if you said that US bond yields and Chinese stocks were moving higher together in response to strong Chinese economic data, I could also agree with that, but I hope we could both agree that any subseque... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 5:13AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 5:13AM EST Other News Buyer Traffic Improves, Builders Still Leery of New Home Market Tue, Apr 16, 2019 10:41AM Builder confidence levels as reported by the National Association of Home Builders (NAHB) remained in the low 60s in April, a space it has now occupied for three months. The NAHB/Wells Fargo Housing Market Index (HMI) a measure of confidence in the market for new homes, rose 1 point to 63, continuing to slowly recover from the three year low of 56 it reached... (read more) Coaching, Underwriting, and Franchise Products; Tech Study; Fed Speeches This Week Tue, Apr 16, 2019 8:22AM Things aren’t always what they seem. Does the mainstream press, or politicians, think about how about how much money it takes to attract top talent to senior roles at top mortgage companies? Elizabeth Warren has led a new proposal to Respect the Caps .” Stay tuned, as taking Fannie’s president, now at $4.2 million , and Freddie’s, now... (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 Earnings are coming in, and higher costs are weighing on profit margins NAR - Realtor.com Mortgage Mistake That Could Cost One Woman Her Longtime Home Reuters Wall Street edges higher on generally upbeat earnings CNBC Economy could be weaker than expected, and the reason is manufacturing Reuters U.S. manufacturing mired in soft patch in first quarter Calculated Risk Blog CAR: "California home sales moderate in March" Bloomberg ECB Officials Lack Enthusiasm for Sub-Zero Tiering Reuters China's policy stimulus may worsen economic distortions: OECD CNBC Homebuilder sentiment inches higher, but affordability is still a problem Reuters U.S. manufacturing output unchanged in March Reuters Will upbeat economic data make China tap the brakes on monetary easing? Bloomberg China's Holdings of U.S. Treasuries Increase For a Third Month Calculated Risk Blog Phoenix Real Estate in March: Sales down 11% YoY, Active Inventory up 9% YoY

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