Mortgage rates were somewhat higher again today--the 4th day in a row that we've been forced to observe such mildly unpleasant things. Technically, this brings the average lender to the highest rates in more than a month, but it's important to note how narrow the range has been and how mild the movement has been on most days. Even if we add up all of the weakness after rates hit their best recent levels at the beginning of the month, the average lender is only 0.125% away from those lows. Reassuring caveats aside, it's still important to keep in mind that rates are still best described as being in a mild uptrend over the past few weeks and in a more volatile uptrend since September. When it comes to planning on locking/floating rates, it makes more sense to be defensive (i.e. don't assume rates

December 19, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 19, 2019 Highest Mortgage Rates in Just Over a Month Thu, Dec 19, 2019 3:42PM Mortgage rates were somewhat higher again today--the 4th day in a row that we've been forced to observe such mildly unpleasant things. Technically, this brings the average lender to the highest rates in more than a month, but it's important to note how narrow the range has been and how mild the movement has been on most days. Even if we add up all of the weakness after rates hit their best recent levels at the beginning of the month, the average lender is only 0.125% away from those lows. Reassuring caveats aside, it's still important to keep in mind that rates are still best described as bein... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Recap: Bonds End Roughly Flat After a Few Lead Changes Thu, Dec 19, 2019 4:46PM First thing's first: putting too much time/thought into the writing or reading of bond market analysis this time of year isn't really necessary. If that changes, rest assured I'm watching out for such things and ready to discuss them.   If it doesn't change, however, well...  this is going to sound fairly familiar. The biggest market move... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 3:03AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 3:03AM EST Other News Senate Banking Committee Has Some Questions Regarding Housing Reform Thu, Dec 19, 2019 2:21PM Democratic senators, including members of the Senate Banking Committee sent a letter to the Treasury Department and Federal Housing Finance Agency earlier this week requesting answers to more than two dozen questions arising out of their proposed housing finance plan. The plan, released in early September, includes nearly 50 recommended reforms, both legisla... (read more) FHFA Reports to Congress on G-Fees Thu, Dec 19, 2019 12:46PM The two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac charge guarantee fees or g-fees to lenders when they acquire their single-family loans. These are expected to cover several costs that the GSEs incur in providing their guarantees. In addition to the expected costs when borrowers fail to make their payments, there are administrative c... (read more) Fannie's Housing Forecast Expects Silver Lining for Dreary New Home Sales and the Economy Thu, Dec 19, 2019 11:46AM Fannie Mae substantially revised its housing forecast this month, especially as regards new home construction. The company's Economic and Strategic Research (ESR) Group said it based its upward revision on "the breadth of positive economic signals," including the continued modest growth of the economy despite a variety of risks , ongoing strength in labor ma... (read more) Digital, Broker, Correspondent Products; Vendor Updates; Holiday Trading in Bond Market Thu, Dec 19, 2019 9:16AM Sure the world noted that Sweden’s central bank hiked its rate to 0%. But in this country, Michigan is making mortgage news. First, United Shore/UWM had a record year and gave away 13 Cadillacs at its Christmas party. Then came the news that Quicken Loans became the first mortgage lender to complete the mortgage process in Michigan using Remote Online ... (read more) Latest Video Santelli Exchange: Unsustainable federal debt and 'helicopter' money November existing home sales miss expectations, down 1.7% Sec. Mnuchin: I'm 'very confident' phase one deal will be signed in early J... Sec. Mnuchin: I'm 'very confident' phase one deal will be signed in early J... Around the Web CNBC Consumer data, a key inflation measure, earnings: 3 things to watch for in the markets on Friday Reuters Wall Street sets records again as Mnuchin says trade deal to be signed Reuters Markets sleepy, dollar on hold ahead of U.S. GDP data Reuters U.S. House set to approve North American trade deal replacing NAFTA NAR - Realtor.com Hoping to Buy a Home in the New Year? January Is the New Hot Month to Start Looking Reuters U.S.-China to sign 'phase one' trade pact in early January: Mnuchin Reuters U.S. weekly jobless claims fall; mid-Atlantic factory activity almost stalls Redfin Home Prices Increased 5% in November Amid Rapid Decline in Number of Homes For Sale blog.stewart.com The Three Bears Paradox on Housing Construction Too Much, Too Little or Just Right Reuters Exclusive: Freddie Mac offers early retirement to 25% of workforce - sources Calculated Risk Blog Phoenix Real Estate in November: Sales up 7.0% YoY, Active Inventory Down 20.7% YoY NAR - Realtor.com Mansion Tax May Be Headed to Boston Next NAHB Eye on Housing Share of New Homes with Patios Edges Up Again

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