Mortgage rates fell today even though the Fed "raised rates." What's up with that? There are all kinds of rates. Some are fixed. Some are adjustable. Some apply to longer-term debt (like mortgages) while others govern very short time frames (like overnight!). Short and long term rates can affect one another, but they don't always move in the same direction or by the same amount. The rate the Fed adjusts (aptly named, the Fed Funds Rate), governs only the shortest-time frames (generally overnight loans among big banks). That means mortgage rates don't have to follow the Fed Funds Rate, even though Fed policy has a profound effect on overall interest rate volatility. The reason that mortgage rates fell after the Fed rate hike is even easier to understand. It has to do with how traders account

December 19, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Drop After Fed "Raises Rates" Mortgage rates fell today even though the Fed "raised rates." What's up with that? There are all kinds of rates. Some are fixed. Some are adjustable. Some apply to longer-term debt (like mortgages) while others govern very short time frames (like ove... (read more) Housing News After Extended Losses, Existing Homes Sales Improve for Second Month After a prolonged losing streak - existing home sales hadn't seen an increase since March - the National Association of Realtors® (NAR) announced a second consecutive uptick in November. Sales of existing single-family homes, townhomes, condos, a... (read more) Housing News Fannie/Freddie "Reform" Discussion Heats Up Again The debate has opened again on the fate of Freddie Mac and Fannie Mae (the GSEs). Ten plus years after the two were put in federal conservatorship at the start of the housing crisis the issue of what to do with them and when never seems to come any c... (read more) Rob Chrisman Vendor Search and Tech Tools; Lender Mergers Continue; Global Slowdown Pushing U.S. Rates There are lots of interesting questions out there. “Why didn’t Tarzan have a beard?” for example. Another is, “Do borrowers know about low down payment loan options?” Lenders and LOs should be educating borrowers on the ... (read more) MBS Commentary MBS Live Day Ahead: To Dove or Not To Dove... What is the sound that doves make?  I know they can cry, according to Prince, but "to cry or not to cry" would have been a weird headline title.  I'm pretty sure they "coo" as well.  "To coo or not to coo" really wouldn't have worked e... (read more) MBS Commentary MBS Live Commentary: Differences Between Previous and Current FOMC Statements Information received since the Federal Open Market Committee met in September November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average,... (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 98.86 -0.07 UMBS 6.0 100.52 -0.05 GNMA 5.5 99.49 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 10:53PM 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 4.399 +0.012 10 YR Treasury 4.455 +0.016 30 YR Treasury 4.607 +0.024 Pricing as of: 11/14 10:53PM EST Latest Video Fed did not capitulate, says Steve Liesman Powell: Will continue use of rate policy as active tool As the Fed raises interest rates again, this is the best place to put your ... Around the Web Bloomberg Markets Revolt as Steadfast Powell Whistles Past Recent Sell-Off CNBC Market fears Fed making policy mistake CNBC Powell says Fed has arrived at the lower end of neutral rate range Reuters Instant View: Fed raises U.S. rates, sees 'some further' hikes ahead Reuters Another technical tweak as Fed wrestles to control policy rate Reuters Fed lifts rates, now sees 'some further' hikes ahead CNBC Here are the three big changes the stock market is hoping to see from the Fed Reuters Fed expected to increase rates, may signal fewer hikes ahead Reuters Congress to push stop-gap funding bill with no border wall money CNBC Existing home sales unexpectedly rise in November Bloomberg The Fed's IOER Experiment May Already Be Reaching Its Limits CNBC Fed is about to make its most important announcement of the year. Here's what Wells Fargo predicts Redfin Redfin's 2019 Predictions: Housing market will be coolest we've seen in years, but homeownership will continue to rise

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