To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when fixed-rates rise and falling when those rates decline. In the first quarter of this year they accounted for 8 percent of originations. Contrast this with the 45 percent share ARMs represented in mid-2005. However, as Archana Pradhan CoreLogic senior professional economist, writes in the company's Insights blog, if fixed-rate mortgage (FRM) rates increase in the coming year, it is likely the ARM share will as well. Despite their small percentages in the larger universe of mortgage originations, ARMs have consistently been a significant factor for

August 30, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Aug 30, 2017 Higher Today, But Still 2nd Best Day of 2017 For Rates Wed, Aug 30, 2017 4:32PM Mortgage rates were technically higher today vs yesterday, but unless you've been following day-to-day movements under a microscope, you probably won't mind. Reason being: apart from yesterday, today's rates are still easily the best we've seen since early November 2016. Most of yesterday's rate quotes will be the same, though the upfront costs may be slightly higher today. 3.875% remains the most prevalent top-tier 30yr fixed rate. In general, the bond markets that underlie mortgage rate movement have been doing a good job of maintaining their composure at the best levels of the year. Given t... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.59 -0.37   95.05 100.50 UMBS 30YR 5.5 101.03 -0.20   97.47 101.61 10 YR Treasury 4.081 +0.050   3.643 4.780 MBS Live Day Ahead: Watching Out For a Post-Korea Bounce Wed, Aug 30, 2017 10:09AM We've seen it before and we'll likely see it again.  Bond markets (and most other markets, for that matter) respond quickly to some unexpected headline, moving to levels they otherwise may not have seen, thus testing the boundaries of whatever r... (read more) MBS Live Recap: Blame North Korea, But Bonds Sorta Liked It Tue, Aug 29, 2017 6:28PM It's all well and good to highlight North Korea's missile launch as the dominant market mover for the day.  It absolutely was.  But it takes a little bit of extra motivation for bond markets to maintain the overnight gains--especially when other indicators like stocks and Yen already fully erased their reactions to the same headlines.  In ot... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.03 -0.20 GNMA 4.5 98.02 -0.14 GNMA 5.0 99.82 -0.38 GNMA 5.5 100.89 -0.32 Pricing as of: 9/17 6:59PM EST US Treasury Yield Change 2 YR Treasury 3.564 +0.060 5 YR Treasury 3.656 +0.070 7 YR Treasury 3.839 +0.068 10 YR Treasury 4.081 +0.050 30 YR Treasury 4.688 +0.036 Pricing as of: 9/17 6:59PM EST Other News The ARM Will Rise Again... Probably Wed, Aug 30, 2017 2:29PM To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when fixed-rates rise and falling when those rates decline. In the first quarter of this year they accounted for 8 p... (read more) Mortgage Apps Post Another Listless Week Wed, Aug 30, 2017 9:13AM Applications for both home purchase mortgages and refinancing declined last week, pulling overall volume lower for the second week in a row. The Mortgage Bankers Association (MBA) says that its Market Composite Index, a measure of application volume, was down 2.3 percent on a seasonally adjusted basis during the week ended August 25. The Index declined 4 per... (read more) Lender Disaster Updates; Tech Survey Interview; Wells' Rate Lock Lawsuit Wed, Aug 30, 2017 9:26AM I love it when a roomful of 50, 60, or 70-year old residential lenders is complaining to me about a lack of “new blood” in the business, and I ask them if any of them have training programs for new loan officers or underwriters or AEs. Or any job. And they look around in kind of a startled, “I’d never thought of that” way, and t... (read more) Latest Video Harvey's economic impact on GDP Facing at least $10 billion in flood insurance claims: Former FEMA deputy a... Buffett: Flood insurance doesn't have big enough risk pool Around the Web consumerfinancemonitor.com CFPB releases summary of TRID Rule amendments consumerfinancemonitor.com HUD/VA/Fannie/Freddie address mortgage-related disaster relief for Hurricane Harvey victims CNBC This week is shaping up to be the slowest in the market since Christmas CNBC A US shutdown could cut into 4th-quarter GDP growth: S&P Market Watch The Fed: Currency war talk restarts after Jackson Hole Bloomberg From Stocks to Bonds, the Bear-Market Signals Are Multiplying consumerfinancemonitor.com Director Director Cordray to remain at CFPB beyond Sept. 1; Rep. Hensarling seeks confirmation of Director Corday's departure plans Calculated Risk Blog Zillow Forecast: "July Case-Shiller Forecast: Slowdown Coming in Home Prices" CNBC Warren Buffett: This doesn't feel like a 3% GDP economy Bloomberg Harvey Could Reshape How and Where Americans Build Their Homes Brookings Institution We've fixed the jobs gap, but people still aren't working Reuters Fed's Powell says new rules for bank directors don't lower the bar Bloomberg US Second-Quarter Growth Revised to 3% in Momentum Boost

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