Wednesday was the best day this week for Mortgage rates with the average lender at the lowest levels in more than a month and very close to the lowest levels in more than a year. Things changed on Thursday with rates moving up slightly. That said, Thursday would have been the best day in more than a month had it not been for Wednesday! Friday brought effectively no change to Thursday's levels, thus keeping the average lender very close to long-term lows . In fact, the average loan quote won't have changed in terms of the quoted interest rate during the past 3 days--only in terms of the upfront costs. In other words, APR would be slightly higher while the payment rate itself would be unchanged (APR factors certain upfront costs into a total cost of financing). In the bigger picture, rates have

May 17, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for May 17, 2019 Mortgage Rates End Week Near Long-Term Lows Fri, May 17, 2019 3:35PM Wednesday was the best day this week for Mortgage rates with the average lender at the lowest levels in more than a month and very close to the lowest levels in more than a year. Things changed on Thursday with rates moving up slightly. That said, Thursday would have been the best day in more than a month had it not been for Wednesday! Friday brought effectively no change to Thursday's levels, thus keeping the average lender very close to long-term lows . In fact, the average loan quote won't have changed in terms of the quoted interest rate during the past 3 days--only in terms of the upfront... (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 UMBS 30YR 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Recap: Bonds Start Strong but Fade to 'unchanged' By the Close Fri, May 17, 2019 4:01PM Bonds began the overnight session in unchanged territory but began to improve on various news reports that fueled a global flight-to-safety.  These included the latest edition of US/China brinksmanship as well as a surprise update on the Brexit talks "collapsing."  The Brexit news reaction delivered Treasuries to the domestic starting line in m... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.05 -0.14 GNMA 6.0 102.01 -0.17 Pricing as of: 9/9 5:47PM EST US Treasury Yield Change 2 YR Treasury 3.555 +0.068 5 YR Treasury 3.614 +0.052 7 YR Treasury 3.813 +0.045 10 YR Treasury 4.085 +0.045 30 YR Treasury 4.728 +0.038 Pricing as of: 9/9 5:47PM EST Other News Low Rates Stabilize Refinancing Share of Originations Fri, May 17, 2019 8:09AM Refinancing held on to a 35 percent share of mortgage originations in April according to the Origination Insight Report from Ellie Mae as the 30-year note rate dropped for the fourth consecutive month. The rate was at its highest so far at 5.01 percent in January. The April average was 4.61 percent. The share of refinancing was little changed from March for ... (read more) MBA Betting on New Home Sales Surge Thu, May 16, 2019 12:42PM Applications for new home purchases jumped 15.6 percent in April compared to a year ago and were 3.0 percent higher than in March. The Mortgage Bankers Association said these non-seasonally adjusted numbers indicate there will be a strong increase in new home sales for the month. "There was a healthy increase in new home purchase activity in April, boosted b... (read more) Permitting and Housing Starts are Finally Gaining Ground Thu, May 16, 2019 9:59AM There was a small gain in residential construction permitting in April while housing starts rose strongly , both reversing their unexpected declines in March. Neither however has yet caught up with their year earlier numbers. The U.S. Census Bureau and the Department of Housing and Urban Development said permits increased by 0.6 percent to a seasonally adjus... (read more) Broker, Underwriting, MSR Products; Bank, Lender, and Credit Union News Fri, May 17, 2019 8:57AM A capital markets friend relayed this note recently received from an LO. “When do you think stated pick-a-pay products will come back? I have some borrowers with LTVs less than 70% who could really use that. Can you find us a program to offer?” Huh? Pick-a… Pik-a-chu? As over a thousand capital markets folks head to New York this weekend t... (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 Calculated Risk Blog Sacramento Housing in April: Sales Down 6% YoY, Active Inventory up slightly YoY CNBC China's currency is sending a warning signal about the trade war Calculated Risk Blog Q2 GDP Forecasts: 1% to 2% Reuters IMF's Lagarde says U.S.-China trade war could be risk for world economic outlook NAR - Realtor.com Millennial Home Buyers Might Never Come Knocking Reuters U.S. nears removal of tariffs on Canada, Mexico metals: media CNBC Three states, including two big ones for the 2020 election, just set new lows for unemployment CNBC US consumer sentiment hits 102.4, vs 97.5 reading expected Calculated Risk Blog Phoenix Real Estate in April: Sales up 6% YoY, Active Inventory up 7% YoY CNBC Trump administration will delay auto tariffs for up to six months Reuters After Huawei blow, China says U.S. must show sincerity for talks Reuters Britain's Brexit talks collapse as May's premiership crumbles Bloomberg Brainard Suggests Fed Let Inflation Overshoot 2% Target

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