Mortgage rates continued higher at a reasonably abrupt pace today as last week's themes have been completely reversed. What themes are those? Generally speaking, markets were undergoing a risk-aversion trade given the rising geopolitical tension surrounding North Korea and the economic uncertainty associated with back-to-back hurricanes. Risk aversion tends to take the form of investors seeking safer haven assets like bonds at the expense of higher growth potential assets like stocks. Indeed, stocks had stumbled sideways to slightly lower last week while bond prices rose (higher bond prices = lower rates). Now that dynamic is reversing with stocks breaking to new all-time highs while bond prices move lower (lower bond prices = higher rates). In the bigger picture, the damage is still far from

September 12, 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 Sep 12, 2017 Worst 2 Days For Rates Since June Tue, Sep 12, 2017 4:10PM Mortgage rates continued higher at a reasonably abrupt pace today as last week's themes have been completely reversed. What themes are those? Generally speaking, markets were undergoing a risk-aversion trade given the rising geopolitical tension surrounding North Korea and the economic uncertainty associated with back-to-back hurricanes. Risk aversion tends to take the form of investors seeking safer haven assets like bonds at the expense of higher growth potential assets like stocks. Indeed, stocks had stumbled sideways to slightly lower last week while bond prices rose (higher bond prices = ... (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 99.67 +0.09   95.05 100.47 UMBS 30YR 5.5 101.13 +0.10   97.47 101.61 10 YR Treasury 4.075 -0.006   3.706 4.780 MBS Live Day Ahead: Bonds Threaten to Confirm Big Bounce Tue, Sep 12, 2017 8:53AM Yesterday was the warning shot and today could see confirmation that bonds are indeed bouncing.  Actually, it's probably more appropriate to view yesterday and today (depending on how it turns out) as a rejection of the breaks below various ... (read more) MBS Live Recap: Slightly Less Pain For Bonds, But More Confirmation of Reversal Tue, Sep 12, 2017 4:42PM Today could be viewed at least 2 ways if you're a fan of low rates.  On one hand, you might despair to see that rates are continuing higher after bouncing at the lows of the year last Friday.  On the other hand, you might take some heart in the fact that today's selling was less severe than yesterday's.  Neither approach is necessarily wrong... (read more) MBS Price Change UMBS 4.5 97.71 +0.08 UMBS 5.0 99.70 +0.11 UMBS 5.5 101.15 +0.12 GNMA 4.5 98.10 +0.08 GNMA 5.0 99.99 +0.17 GNMA 5.5 101.02 +0.13 Pricing as of: 9/17 10:49PM EST US Treasury Yield Change 2 YR Treasury 3.535 -0.028 5 YR Treasury 3.634 -0.022 7 YR Treasury 3.821 -0.019 10 YR Treasury 4.070 -0.011 30 YR Treasury 4.669 -0.018 Pricing as of: 9/17 10:49PM EST Other News Equifax: Turning a Crisis into an Opportunity Tue, Sep 12, 2017 11:21AM If anything could be worse than half of the adults in the country having their personal and credit information hacked and stolen, it could be the way the company from whom it was stolen has handled it. Equifax, one of the nation's three major credit reporting companies, was the target of hackers this spring and, by all accounts, is more concerned about its b... (read more) Freddie Mac Unveils its HARP Replacement Loan Tue, Sep 12, 2017 11:21AM Last year Freddie Mac and Fannie Mae announced that their implementation of the Home Affordable Refinance Program (HARP) would continue through the end of 2018 and that both were developing a new high loan-to-value (LTV) refinance offering to be available once HARP did expire. Freddie Mac has now provided information on its new high LTV refinancing vehicle t... (read more) Lenders Adjust to Disaster Areas; Lenda's Capital Raise Tue, Sep 12, 2017 9:28AM Lender and Investor Disaster Updates Conditions are subject to change; check with investors if you have questions. NewLeaf has temporarily ceased funding all loans currently in its pipeline with properties located in the state of Florida and will continue to monitor any residential property damage caused by Hurricane Irma. For loans with properties located i... (read more) Latest Video Falling interest rates: cause for concern? Former FEMA director: We have to look at changes to building codes Senate Finance Committee questions Equifax Around the Web builderonline.com Home Value Index Growth Slows in August Calculated Risk Blog House Prices to Median Household Income NAR - Realtor.com In Harvey's Wake, Houston Rethinks Real Estate Development Washington Post Florida has 828,000 mobile homes. Only half are insured. NAHB Eye on Housing Construction Job Openings Rise During Summer CNBC Mnuchin: Yellen being considered for Fed chair, but so are 'a lot of great people' CNBC US job openings increase slightly in July to 6.17 million PR Newswire Quicken Loans Study Shows Consumers Continue to Be Too Optimistic with Anticipated Home Value Calculated Risk Blog NFIB: Small Business Optimism Index increased slightly in August Market Watch Treasury selling pressure pushes 10-year yield to 2.15% CoreLogic CoreLogic Reports Mortgage Delinquencies Remain Low in June NY Times Houston's Unsinkable Housing Market Undaunted by Storm NPR Americans' Borrowing Hits Another Record. Time To Worry?

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