Mortgage rates have generally been moving sideways for the past 2 weeks. This has accomplished a twofold goal of coming to terms with the strong gains seen in May as well as preparing for tomorrow's hotly-anticipated announcement from the Fed. It has been and continues to be the case that any major surprises (or even minor surprises) from the Fed could have big, immediate effects on rates for better or worse. But just as the sideways momentum was about to lull us to sleep this week, central bank news from across the Atlantic stepped up to change the field of play today. European Central Bank (ECB) President Mario Draghi delivered a speech this morning in which he laid out the likelihood of additional stimulus measures including rate cuts deeper into negative territory. European bond markets

June 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 Jun 18, 2019 Mortgage Rates Enjoy Surprise Drop Ahead of Fed Day Tue, Jun 18, 2019 2:38PM Mortgage rates have generally been moving sideways for the past 2 weeks. This has accomplished a twofold goal of coming to terms with the strong gains seen in May as well as preparing for tomorrow's hotly-anticipated announcement from the Fed. It has been and continues to be the case that any major surprises (or even minor surprises) from the Fed could have big, immediate effects on rates for better or worse. But just as the sideways momentum was about to lull us to sleep this week, central bank news from across the Atlantic stepped up to change the field of play today. European Central Bank (... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Unexpected Headlines Result in Bond Market "Lead-Off" Tue, Jun 18, 2019 9:34AM In the day just past, bonds did absolutely nothing new or interesting.  Yields continued to trade in a narrow, sideways range--one that has persisted for more than 2 weeks.  The ostensible catalyst for a breakout was (and still IS, in some ... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:01AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:01AM EST Other News Construction Numbers Better Than Percentages Indicate Tue, Jun 18, 2019 10:24AM Residential construction figures had been expected to, at a minimum, hold the fort in May after a mixed report in April. While revisions to the April report somewhat skewed the numbers changes to both permits and starts were only fractional. The Census Bureau and the Department of Housing and Urban Development said permits for privately owned housing units w... (read more) Gloomier Economic Outlook Brightens Housing Outlook Mon, Jun 17, 2019 6:13PM Freddie Mac's forecast for June sees more dark clouds than usual , but few of those are on the housing front. The company's Economic and Housing Research Group notes that some of those gathering clouds, concerns about global growth and the lingering trade problems, have pushed long-term interest rates to their lowest level since the fall of 2017, 3.82 percen... (read more) May Uptick in Builder Confidence Proves Fleeting Mon, Jun 17, 2019 11:09AM The National Association of Home Builders' (NAHB's) measure of builder confidence broke out of its multi-month slump in May, rising 3 points. Much of that gain was reversed this month as the NAHB/Wells Fargo Housing Market Index (HMI) dropped by 2 points to 64, returning to the low- to-mid-60s range it has occupied since the first of the year. "While demand ... (read more) Digital, Marketing, Training Products; Upcoming Teaching Events Tue, Jun 18, 2019 8:56AM With the backdrop of a global bond market rally today, let’s look back at Randy Newman singing, “It's money that matters, hear what I say. It's money that matters, in the USA.” What does $5.6 million buy you these days? A road-gray Yankees jersey that was worn by Babe Ruth sold for $5.64 million at an auction on Saturday at Yankee Stadium, ... 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