Mortgage rates moved sharply higher today, bringing the average top tier 30yr fixed quote back to 4.25% from 4.125% previously. That doesn't exactly mean that rates are .125%, depending on your perspective. While the actual rate applied to loan balances is .125% higher on average, the amount of interest paid in conjunction with a mortgage is also depends on upfront costs. In cases where borrowers are being quoted .125% higher in rate today, those upfront costs are generally lower. If we express those costs in terms of rate, the actual day-over-day change is 0.07%. That may not seem like much, but it's the biggest increase in well over a month. So what's the deal? With Trump's congressional speech yesterday and surging stock prices today, it's tempting to view the rate move against that backdrop

March 1, 2017 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Rise After Trump Speech, But Not Necessarily Because of It Mortgage rates moved sharply higher today, bringing the average top tier 30yr fixed quote back to 4.25% from 4.125% previously. That doesn't exactly mean that rates are .125%, depending on your perspective. While the actual rate applied to loan balan... (read more) Housing News Residential Construction Spending Remains Flat Construction spending had been expected to recover from the 0.2 percent loss it suffered in December. Analysts polled by Econoday were looking for an increase of 0.2 to 0.8 percent, with a consensus of a half-point gain. Instead total January constru... (read more) Housing News Freddie Mac: Inflation and Rate Hikes Likely Already Baked-In Freddie Mac's Insight forecast for February looks at reports that consumer price inflation is rising, and the ensuing debate over "whether or not we are shifting from a world of low consumer price inflation to one of moderate inflation." The company'... (read more) MBS Commentary MBS Live Day Ahead: Weakness Extends Overnight, But Trump Isn't The Issue There was a lot of build-up for last night's Trump speech.  I won't tell you that it didn't turn out to be a market mover, but it wasn't nearly as potent as the anticipation would have suggested.  Instead, the losses seen since yesterday ... (read more) Rob Chrisman Lender Disaster Updates; Investor SRP and LLPA Changes There is some rate and price at which a borrower and lender will meet, whether it is residential loans, commercial, personal, auto, etc. But apparently overall bank lending is slowing , a potential response to political uncertainty (and an economic d... (read more) MBS Commentary MBS Live Recap: Rapid Rate Hike Expectation Adjustments Punish Bond Market The past 2 days have been almost exclusively about a rapid adjustment in Fed rate hike expectations (see the chart in the Day Ahead for a visual).  That's a point worth emphasizing considering how much anticipation markets were carrying headin... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.01% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.01% -0.01 0.00 15 Yr. Fixed 6.37% -0.02 0.00 30 Yr. FHA 6.32% -0.08 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.95% -0.03 0.00 30 Yr. VA 6.34% -0.09 0.00 Updates Daily - Last Update: 11/13 15 Yr. Fixed Rate 6.37% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.79% +0.07 0.00 15 Yr. Fixed 6.00% +0.01 0.00 Updates Weekly - Last Update: 11/7 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 98.86 -0.14 Price / Yield Change MBS UMBS 5.5 98.86 -0.14 UMBS 6.0 100.48 -0.14 GNMA 5.5 99.52 -0.14 GNMA 6.0 100.72 -0.10 Pricing as of: 11/14 1:39AM EST 10 Year US Treasury 4.4739 +0.0099 Price / Yield Change US Treasury 2 YR Treasury 4.315 +0.042 5 YR Treasury 4.334 +0.034 7 YR Treasury 4.410 +0.037 10 YR Treasury 4.474 +0.010 30 YR Treasury 4.650 +0.016 Pricing as of: 11/14 1:39AM EST Latest Video Futures Now: Bonds on the rise Odds are in the favor of an interest rate hike. ISM manufacturing index at 57.7 in February Around the Web The Atlantic The Best Business Reads of February CNBC These luxury markets saw the biggest hikes in real estate prices NAHB Eye on Housing Pace of Residential Construction Spending Continues Positive Trend Reuters More Wells Fargo customers may be affected by sales scandal: filing Bloomberg Bond Manager With $14 Billion Loads Up to Guard Against Frexit Calculated Risk Blog ISM Manufacturing index increased to 57.7 in February CNBC US construction falls in January as drop in public outlays offset gains CNBC Here's what new homeowners regret the most about the buying process CNBC A March surprise: Interest rate hike now a near-cinch Reuters U.S. consumer spending slows; inflation pushes higher Reuters Fed trumps Trump as dollar, U.S. Treasury yields soar CNBC The 'Presidential' President finally steps up: Europe reacts to Trump's speech Market Watch Why the stock market doesn't mind Trump's lack of stimulus specifics

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