Mortgage rates continued higher at a relatively fast pace today, pushing farther into the highest levels since early July. As of this afternoon, the average lender is right in line with those rate offerings from July. Any higher and we'd have to go back another 2 months to see comparable rates. While we had been able to say that the volatility of the past few weeks hadn't yet created an eighth of a percentage point spike in 30yr fixed rates, that definitively changed today. In fact, for many lenders, the cost of offering a 30yr fixed rate of 3.875% last week now matches the cost of a 4.0% rate this week. Clients who'd seen quotes of 4.0% are now seeing 4.125%. The average is somewhere in between for top tier scenarios. There are several major flashpoints in the coming days that could help or

October 25, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Rates Now Up an Eighth of a Point From Last Week Mortgage rates continued higher at a relatively fast pace today, pushing farther into the highest levels since early July. As of this afternoon, the average lender is right in line with those rate offerings from July. Any higher and we'd have to go b... (read more) Housing News MBA's Stevens to Retire David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA) has announced his retirement. Stevens, who has led MBA since 2011, has allowed plenty of lead-time . He will continue to lead the trade group until September 30, 2018. Stev... (read more) Housing News New Home Sales - A Blowout! Analysts had predicted new home sales number would retreat again in September, on the heels of a 9.4 percent loss in August. Whoops! September's results from the U.S. Census Bureau and the Department of Housing and Urban Development were far beyond a... (read more) Housing News Home Prices Continue Defying Gravity (and Predictions) Most forecasts at the end of 2016 called for a gradual slowdown in the pace of home price appreciation. Depending upon whom you asked, growth was supposed to slow to an annual pace in the 4% range. Not only are we nowhere close to those predictions, ... (read more) MBS Commentary MBS Live Day Ahead: Good News and Bad News (Mostly Bad For Now) We'll get to the good news in a moment.  Bad news is obviously the order of the day as bonds are starting out with a big break through important technical ceilings.  What's a technical ceiling?   MBS Live members can always read ... (read more) Housing News Application Volume Resumes Downward Trend The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of overall mortgage application volume, ended a four week slide during the week ended October 13. It didn't last long, moving downward again last week. Fueled by declining a... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.84 -0.09 Price / Yield Change MBS UMBS 5.5 98.85 -0.07 UMBS 6.0 100.51 -0.05 GNMA 5.5 99.48 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 10:49PM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.351 +0.001 5 YR Treasury 4.337 +0.011 7 YR Treasury 4.400 +0.013 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.608 +0.025 Pricing as of: 11/14 10:49PM EST Latest Video 'Nobody has been ruled out' for Fed chair -Senior administration official Bond yields surge If rates rise, it will offer competition for areas of stock market: Trader Around the Web Market Watch The number of Americans that directly own bonds fell even further in 2016 CNN Trump likes Yellen but wants to make his mark on the Fed Market Watch Gary Cohn out of running for Fed chair: report Market Watch Bond bull market faces moment of truth' as 10-year yield crosses 2.40% Reuters Tax plan worries, tepid earnings halt rally Calculated Risk Blog A few Comments on September New Home Sales CNBC Interest rates whipped higher in perfect storm of stronger U.S. data and Fed speculation Freddie Mac New Freddie Mac Survey Finds Affordability Driving Demand for Rental Housing CNBC Senate kills rule that let customers sue their bank Market Watch The bond market should brace for a possible Taylor tantrum' CNBC New home sales surge 18.9 percent in September Bloomberg Yellen Finds Unlikely Advocate at White House: Trump Redfin Here's the #1 Reason It's so Hard to Find an Affordable Home

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