Mortgage rates didn't move much today. Some lenders were perfectly unchanged, but the average lender was just slightly higher. That's at odds with underlying bond market movement (which directly impacts rates)--at least at first glance. Specifically, the bonds underlying mortgages were slightly stronger today. That would imply slightly lower mortgage rates. So why did rates rise? As is often the case, today's seemingly paradoxical movement is due to timing . Bonds were weakening ever-so-slightly yesterday--something that's consistent with lenders raising rates. But the bond market didn't weaken enough for lenders to make those changes in the middle of the business day. Additionally, today's bond market improvement didn't really stick until the afternoon. Like yesterday, it wasn't quite enough

October 16, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Modestly Higher Ahead of Fed Minutes Mortgage rates didn't move much today. Some lenders were perfectly unchanged, but the average lender was just slightly higher. That's at odds with underlying bond market movement (which directly impacts rates)--at least at first glance. Specifically,... (read more) Housing News Home Price Reductions Are Increasing, Especially at High End Recent research from Trulia shows home price reductions are increasing . The share of homes for sale that have had at least one price cut since being listed is the highest since 2014. This, the company says, is more evidence that the market may final... (read more) Rob Chrisman FinTech Updates; Agency Deals; Off The Beaten Path at MBA Conference What’s not being covered by the mainstream press here at the MBA conference? How about, given the rough financial conditions, monthly (and not quarterly) financials being requested by warehouse & correspondents? How about some attendees bun... (read more) Housing News Falling Lumber Costs Push Builder Confidence Higher Builder confidence ticked up 1 point in October, rising to 68. The National Association of Home Builders (NAHB), which produces the NAHB/Wells Fargo Housing Market Index (HMI) says this measure of confidence levels has held in the high 60s since June... (read more) MBS Commentary MBS Live Day Ahead: What Are We Waiting For? Waiting... That's all anyone has been doing since last Thursday in financial markets.  One day prior, stocks jumped off a cliff and bond yields raced to the edge of the same cliff and peered over the side.  It's like one of those far-f... (read more) MBS Commentary MBS Live Recap: Uneventful Day For Bonds; Fed Minutes Tomorrow The S&P recovered roughly half of its losses from last week today, decisively breaking out of the consolidation pattern that had been in place through this morning.  Bonds, on the other hand, are still in the consolidation pattern that acc... (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 98.85 -0.08 UMBS 6.0 100.51 -0.06 GNMA 5.5 99.48 -0.08 GNMA 6.0 100.64 -0.07 Pricing as of: 11/14 11:19PM EST 10 Year US Treasury 4.4552 +0.0164 Price / Yield Change US Treasury 2 YR Treasury 4.352 +0.002 5 YR Treasury 4.338 +0.012 7 YR Treasury 4.401 +0.014 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.608 +0.025 Pricing as of: 11/14 11:19PM EST Latest Video Redfin CEO on 'perfect storm' for housing market Fed makes mistakes and every recession comes down to them, says Sri Kumar NAHB sentiment index at 68 in October Around the Web Reuters Wall St. jumps more than 2 percent after earnings, data Reuters Trump says 'my biggest threat is the Fed' Calculated Risk Blog Update: Real Estate Agent Boom and Bust Reuters Graphic: Big U.S. banks end third quarter on high note NY Times Interest Rates Are Rising for All the Right Reasons Reuters Strong blue-chip results power Wall St rally NPR Federal Deficit Jumps 17 Percent As Tax Cuts Eat Into Government Revenue CNBC Bridgewater exec said to warn economy could turn 'medicore' as Fed hikes rates CNBC US economic outlook vs the rest of the globe is brightest in 11 years NAHB Eye on Housing Unfilled Construction Sector Jobs Continue to Rise Calculated Risk Blog BLS: Job Openings "reached a series high of 7.1 million" in August CNBC US industrial production increased for a 4th-straight month, but momentum slowed sharply in the third quarter CNBC Larry Fink: Investors were bolting stocks even before last week's plunge due to 'more fear'

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