The interest rate for loans originated (closed) in October inched down 1 percentage point to 4.20 percent, the lowest rate thus far in 2017, and the sixth month in a row rates have declined. Ellie Mae also reported that the share of originations that were for refinancing moved up one percentage point to the highest share since February. "We are continuing to see borrowers take advantage of the lower interest rates as the refinance percentage increased to 39 percent of total loans in the month," said Jonathan Corr, president and CEO of Ellie Mae. "We saw increases in October across all loan types with FHA refinances at 23 percent, conventional refinances at 46 percent and VA refinances at 32 percent of all closed loans." According to the company's Origination Insight Report, the distribution

November 17, 2017 Download our Mobile App: Download our Mobile App: Rob Chrisman HUD, FHA, VA, and Ginnie News; Wells Fargo Mgt. Upheaval Here’s a tidbit for Happy Hour tonight. Currently, about 21 percent of filers take the mortgage deduction, but under the new framework only about 4 percent would, according to recent estimates from the Tax Policy Center. Here's a good summary o... (read more) Housing News More Than Half of October Refis Were FHA/VA The interest rate for loans originated (closed) in October inched down 1 percentage point to 4.20 percent, the lowest rate thus far in 2017, and the sixth month in a row rates have declined. Ellie Mae also reported that the share of originations that... (read more) Housing News Home Building Surges to Year's Best Levels, Erasing Summertime Sadness It has been a while since all three measures covered in the residential construction report were strongly positive. In fact, certain metrics bordered on disconcerting during the summertime months. October's numbers represent a major departure from th... (read more) MBS Commentary MBS Live Day Ahead: Bond Markets May Be Done For The Holidays Take a few steps back from the shorter-term charts (we tend to watch at 2-day chart for most lock/float purposes on MBS Live ) and a theme begins to emerge about bond market momentum over the past 2 months.  There has been additional reinforc... (read more) Mortgage Rate Watch Mortgage Rates Slightly Higher Mortgage rates moved higher today, but the changes were minimal for most lenders. Bond markets (which underlie interest rates) have been searching for inspiration recently and largely coming up short. This morning contained several economic reports a... (read more) MBS Commentary MBS Live Recap: Bonds Adrift, No Land in Sight Bond markets are officially looking for inspiration, motivation, or even just something to pass the time.  Today's events didn't seem to do the trick as trading levels drifted aimlessly throughout domestic hours. That's not to say bonds didn... (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 98.85 -0.07 Price / Yield Change MBS UMBS 5.5 98.86 -0.07 UMBS 6.0 100.51 -0.05 GNMA 5.5 99.49 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 11:40PM EST 10 Year US Treasury 4.4567 +0.0179 Price / Yield Change US Treasury 2 YR Treasury 4.351 +0.001 5 YR Treasury 4.337 +0.011 7 YR Treasury 4.399 +0.012 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.609 +0.026 Pricing as of: 11/14 11:40PM EST Latest Video Bonds may start to compete with stocks: Strategist Tax reform clears two big hurdles in House and Senate Housing starts up 13.7% in October Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in October CNBC Don't expect 'easy gains' of 2017 to be repeated next year, says top strategist Jason Trennert Calculated Risk Blog Has US Household Growth Slowed, and If So, Why? CNBC Goldman Sachs says if you thought 2017 was surprisingly good, just wait for 2018 PR Newswire Nationwide Seller's Market Reigns as Home Prices Climb NAHB Eye on Housing Declining New Home Size Trend Continues Freddie Mac Freddie Mac Prices $279 Million Offering of Guaranteed Tax-Exempt ML Certificates Calculated Risk Blog MBA: Mortgage Delinquency Rate increases in Q3 mostly due to Hurricanes Bloomberg Draghi Says Pay Gains to Ease ECB Pressure as Labor Tightens Calculated Risk Blog BLS: Unemployment Rates Lower in 12 states in October; Alabama, Hawaii and Texas at New Series Lows CNBC Investors are fleeing junk bonds in near record numbers, a troubling signal for the stock market CNBC US home construction reaches strongest pace in a year consumerfinancemonitor.com President Trump to appoint Mick Mulvaney CFPB Acting Director

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