Mortgage rates launched to their highest levels in more than 3 months yesterday for a variety of reasons. Chief among them was a series of comments from both China and the US about the intent to cancel previously announced tariffs as a part of the phase 1 trade deal. Tariffs and trade have been weighing on the economic outlook in a big way, and that's benefited interest rates. Anything that lessens the weight has the opposite effect. Notably, the bond market failed to improve very much today even after Trump said that there was no agreement to roll back tariffs yet, even though there was a clear reaction. This could be due to the fact that markets expect a deal to be worked out eventually, but bigger-picture momentum is also a consideration. Simply put, rates have been moving so much lower

November 8, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Holding Near 3-Month Highs Mortgage rates launched to their highest levels in more than 3 months yesterday for a variety of reasons. Chief among them was a series of comments from both China and the US about the intent to cancel previously announced tariffs as a part of the ph... (read more) MBS Commentary MBS Live Day Ahead: Lowered Expectations If you don't expect anything good to happen for the bond market for the next few months, I guarantee you won't be disappointed.  If, however, you expect to see a normal amount of resilience and a continued willingness on the part of rates to ope... (read more) Housing News Housing Affordability at Best Levels in Three Years One year after hitting a ten-year low, housing affordability has risen to its highest level in three years. Rose Quint, writing in the National Association of Home Builders Eye on Housing Blog , says 63.6 percent of new and existing homes sold in the... (read more) Rob Chrisman Sales, Audit Tools; Vendors Raising Funds; 10-year Yield's 3 month, 50 bp Move As rumors swirl about Michael Bloomberg entering the race for president, MLOs are winding down for the year (a few have written to me saying that, after a solid November and 2019, they’ll be coasting during December and try to push closings int... (read more) Housing News NAR Survey Shows Buyers are Increasingly Older, Less Married The share of first-time buyers remains well below historic levels according to the National Association of Realtors' ® (NAR's) 2019 Profile of Home Buyers and Sellers, and those who do buy frequently need financial assistance from their family. T... (read more) Housing News Disaster Aftermath Can Make Losses Worse The storm is over, the fires are out, but anyone who has survived a natural disaster, and that is more of us every year, knows that the problems are just beginning. A new report by CoreLogic looks at how a demand surge sparked by rebuilding efforts m... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.73 +0.09 Price / Yield Change MBS UMBS 5.5 99.73 +0.08 UMBS 6.0 101.52 +0.08 GNMA 5.5 99.93 +0.07 GNMA 6.0 101.42 +0.07 Pricing as of: 7/7 12:59AM EST 10 Year US Treasury 4.3310 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.860 -0.023 5 YR Treasury 3.915 -0.022 7 YR Treasury 4.105 -0.020 10 YR Treasury 4.333 -0.014 30 YR Treasury 4.865 +0.002 Pricing as of: 7/7 12:59AM EST Latest Video An increasing number of buyers are purchasing homes with their friends Trump: No agreement on rolling back China tariffs Consumer sentiment slightly beats expectations, 95.7 vs 95.3 expected Sen. Tom Cotton: Tariffs are only a tool to stop unfair trade pratices Around the Web Reuters Trade deal doubts clip world stock rally, oil wavers Reuters Explainer: What to expect from the televised Trump impeachment hearings next week CNBC The market rally will soon be tested by a big Trump speech and testimony from the Fed chief NAHB Eye on Housing Consumer Credit Increases in Third Quarter Despite Bank Lending Tightening Calculated Risk Blog AAR: October Rail Carloads down 8.4% YoY, Intermodal Down 7.8% YoY CNBC Fed Governor Lael Brainard says the central bank needs to guard against climate change Bloomberg Trump Gives Treasuries a Lift by Downplaying Progress on Tariffs Calculated Risk Blog Early Q4 GDP Forecasts: 0.7% to 2.1% CNBC US consumer sentiment comes in at 95.7 for November, vs 95.3 estimate CNBC Trump says he has not agreed to roll back tariffs on China, after week of trade optimism Reuters White House says tariff could be removed if U.S.-China trade deal reached Bloomberg Tariff Rollback, China Stimulus Risk, Fed Climate Alert: Eco Day CNBC Rollback of China tariffs faces fierce opposition in the White House

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