Mortgage rates moved higher today at the fastest pace in several months today. The underlying bond market (which dictates rates) was merely hinting at a corrective bounce by the end of last week. After today's moves, bonds are shouting their corrective intentions from the rooftop. While it does happen several times a year, it's rare to see rates move higher as quickly as they did today. If all of that sounds alarming, that's because it is! Days like today can indeed mark the shift into a higher gear for a run toward higher rates. That said, this is only the 4th day of higher rates since hitting 3-year lows at the beginning of last week. There are certainly past examples of days like today--that give the illusion of more pain to follow--that end up being false alarms. There's no way to know

September 10, 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 Sep 10, 2019 Mortgage Rates Moving Quickly Higher Mon, Sep 9, 2019 5:25PM Mortgage rates moved higher today at the fastest pace in several months today. The underlying bond market (which dictates rates) was merely hinting at a corrective bounce by the end of last week. After today's moves, bonds are shouting their corrective intentions from the rooftop. While it does happen several times a year, it's rare to see rates move higher as quickly as they did today. If all of that sounds alarming, that's because it is! Days like today can indeed mark the shift into a higher gear for a run toward higher rates. That said, this is only the 4th day of higher rates since hittin... (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 Day Ahead: Keeping an Eye on Corrective Trend as Auction Cycle Begins Tue, Sep 10, 2019 9:16AM In the day just passed, bonds began the week with a resolute sell-off that broke through an important overhead ceiling in 10yr yields (1.62).  Weakness was present from the start of the European session through the end of the domestic session with 3 distinct phases (EU open, US open, EU close).  This suggests initial limited weakness in Europe that... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.23 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.15 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:51PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.087 +0.048 30 YR Treasury 4.732 +0.042 Pricing as of: 9/9 5:51PM EST Other News Some States Showing Signs of Stress, Delinquencies on the Rise Tue, Sep 10, 2019 11:36AM While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eight states in June. Those eight bucked a national trend that has brought the overall delinquency rate down to 4.0 percent, the lowest since at least 1999. That rate, which represents all mortgaged properties with... (read more) Survey Says: Expect Low Rates to Remain Tue, Sep 10, 2019 8:18AM Funny what several dozen downticks in interest rates will do consumers' perceptions of the mortgage market. Fannie Mae said today that its Home Purchase Sentiment Index, based on selected responses to its National Housing Survey (NHS) set its second consecutive record high in August. The Index rose 0.1 point to 93.8 and is up by 5.8 points compared to August... (read more) Rising Refis And Record Low Delinquencies Mon, Sep 9, 2019 9:38AM Low interest rates continue to expand the pool of refinancible mortgages and bolster mortgage prepayment rates according to Black Knight's Mortgage Monitor. The company, noting that Freddie Mac's 30-year fixed rate mortgages dropped 9 basis points last week to 3.49 percent, said its measure of the refinanceable population of homeowners is " the largest it ha... (read more) Warehouse, Broker Products; Current Economic Picture Tue, Sep 10, 2019 8:42AM The gap between the haves and have-nots continues to widen. Though the wealth of U.S. households has eclipsed $100 trillion, the wealthy have primarily accrued the post-recession gains. Those in the top 1 percent of U.S. households have seen their wealth double and now hold over $30 trillion of that . The next 9 percent of households hold about $40 trillion.... 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