Mortgage rates were generally unchanged today, prolonging an exceptionally flat trend. Over the past 3 weeks, the average mortgage seeker will not have seen a change in the interest rate attached to their loan. Changes have come instead from the upfront costs associated with any given rate, which can move in smaller increments than rates themselves (mortgage lenders tend to break up rates by eighths of a percentage point). The lack of movement isn't for a lack of potential movement in underlying bond markets. That said, "potential" is the operative word, and it went unfulfilled by today's data and events. Given that today's biggest calendar event was Fed Chair Powell's congressional testimony, there's little reason to assume tomorrow's installment (with the House instead of the Senate) will

July 17, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Same Old Story For Mortgage Rates Mortgage rates were generally unchanged today, prolonging an exceptionally flat trend. Over the past 3 weeks, the average mortgage seeker will not have seen a change in the interest rate attached to their loan. Changes have come instead from the upfr... (read more) Housing News Builder Confidence: Strong but Unchanged, Material Costs Rising As analysts had expected, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) remained at 68 this month. The reading still indicates a strong level of builder confidence in the new home market, but the HMI has been... (read more) Rob Chrisman Sales and Broker Products; Freddie and Fannie Updates “What can be asserted without evidence can also be dismissed without evidence.” While you ruminate on that one, there continues to be evidence and reminders that potential home buyers are having trouble coming up with “skin in the g... (read more) Housing News Builders Heeding Advice to Go West. Or South The National Association of Home Builders (NAHB) has plucked more information from the Census Bureau's Survey of Construction (SOC), this time to paint a portrait of the state of residential permitting nationwide. Danushka Nanayakkara-Skillington wri... (read more) MBS Commentary MBS Live Day Ahead: 2018 Rate Hike Odds Provide Backdrop For Powell Testimony Fed Chair Powell begins 2 days of semi annual congressional testimony today with the Senate Banking Committee at 10am.  In recent years, this testimony has devolved into laughable political theater, mostly.  That said, today's has a few red... (read more) MBS Commentary MBS Live Recap: Slightly More Active Than a Typical Summertime Monday Summertime Mondays are notorious for light volume and seemingly random trading.  Today was a slightly more active than normal in that regard, largely due to the presence of top tier data (Retail Sales) and a geopolitical event in the form of the... (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 Powell: Best way forward to gradually raise interest rates Fed's Powell: Important to get housing finance off governmental balance she... Fed's Powell: Our challenge will be to keep inflation around 2% level Around the Web Reuters Fed's Powell: Years of strong jobs, low inflation still ahead NAR - Realtor.com Can the Mortgage Market Predict the Presidency? Reuters States sue U.S. to void state and local tax deduction cap Calculated Risk Blog Greenspan 13 Years Ago: "Froth in housing markets" Bloomberg Treasury Yield Curve Is Heading for Inversion, Fund Managers Say CNBC GDP could rise to 4 percent in Q2 thanks to business-friendly policies, Bank of America CEO says Bloomberg Powell's Prepared Remarks to Senate Banking Panel Reuters Fannie, Freddie shares dip after Fed's Powell remarks CNBC China is investing 9 times more into Europe than into North America, report reveals CNBC US lumber producers see huge opportunity, rush to expand CNBC Powell backs more rate hikes as economy growing 'considerably stronger' CNBC Industrial production rose 0.6% in June, matching expectations CNBC The U.S. economy has plenty of steam despite bond market and trade fears, investors say

© 2024  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.