Mortgage rates were slightly higher today, but not because of the Fed. Today brought a Fed policy announcement which can be quite a big deal for rates, depending on the particulars. This time around, those particulars were almost exactly the same as the previous Fed statement. Investors will sometimes read some significance into such an absence of change, but that wasn't a factor today. Of far greater importance to rates was an update from the Treasury department that spelled out near-term borrowing plans. Government spending is funded in large part by the issuance of Treasury debt. The more debt issued, the greater the supply and Econ 101 tells us what happens when supply rises: prices fall! While falling prices might sound like a good thing, in the case of Treasury debt, it means investors

August 1, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Higher, But Not Because Of The Fed Mortgage rates were slightly higher today, but not because of the Fed. Today brought a Fed policy announcement which can be quite a big deal for rates, depending on the particulars. This time around, those particulars were almost exactly the same as ... (read more) Housing News Buying a Home? Many Feel it Won't Get Easier A steadily declining number of prospective homebuyers hope to actually buy within the next 12 months according to the second quarter National Association of Home Builders (NAHB) Housing Trends Report (HTR). The percentage of those among the more than... (read more) Rob Chrisman Rate Hike Expectations; Digital and Tech News - A Blockchain Mortgage in China? I imagine the Congressional kickball match is really something to watch at its summer picnic. That branch of the government has become very adept at kicking things down the road, this time with flood insurance. (Good luck having them act on something... (read more) Housing News Labor Shortages, Material Costs, Cause Construction Stumble in June Construction spending fell unexpectedly in June. The U.S. Census said overall spending was down 1.1 percent from the May estimate to a seasonally adjusted annual rate of $1.332 trillion. Spending was still higher, by 6.1 percent, than the June 2017 a... (read more) MBS Commentary MBS Live Recap: Uneventful Fed Stands Aside For Weaker Bonds It's beginning to look and sound a lot like the Springtime when bond analysts were making their calls for the year's highest 10yr yields.  Guesses ranged from 3-4% with the majority somewhere in the lower half of that range.  The trigger ba... (read more) MBS Commentary MBS Live Commentary: Differences Between Previous and Current FOMC Statements Information received since the Federal Open Market Committee met in May June indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid strong rate. Job gains have been strong, on avera... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.05% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.05% +0.03 0.00 15 Yr. Fixed 6.43% +0.06 0.00 30 Yr. FHA 6.39% +0.09 0.00 30 Yr. Jumbo 7.24% +0.04 0.00 7/6 SOFR ARM 7.11% +0.12 0.00 30 Yr. VA 6.39% +0.07 0.00 Updates Daily - Last Update: 11/15 15 Yr. Fixed Rate 6.43% +0.06% 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 -0.08 Price / Yield Change MBS UMBS 5.5 98.83 -0.10 UMBS 6.0 100.50 -0.07 GNMA 5.5 99.35 -0.22 GNMA 6.0 100.77 +0.06 Pricing as of: 11/15 5:44PM EST 10 Year US Treasury 4.4434 +0.0046 Price / Yield Change US Treasury 2 YR Treasury 4.306 -0.044 5 YR Treasury 4.311 -0.015 7 YR Treasury 4.381 -0.007 10 YR Treasury 4.444 +0.006 30 YR Treasury 4.622 +0.040 Pricing as of: 11/15 5:44PM EST Latest Video 10-year Treasury yield back at 3%. What’s next? Mortgage applications fall for third week to lowest level in a month Fed leaves interest rates unchanged Around the Web Bloomberg US Curve Resteepens as Pressure Builds From Japan, Refunding Reuters Fed leaves rates unchanged, stays on course for September hike zerohedge.com Wells Fargo Agrees To Pay $2.09 BIllion Penalty For Mortgage Loan Abuses Bloomberg The Latest: More Than 1000 Homes Destroyed in Blaze CNBC Atlanta Fed predicts 5% jump in economic growth for third quarter CNBC Checking your credit score will not lower it, contrary to a common myth CNBC Wells Fargo to pay $2 billion penalty for alleged misrepresentation of loan quality, report says Bloomberg US Boost in Long-Term Debt Sales Sends 10-Year Yield Above 3% Calculated Risk Blog Construction Spending decreased 1.1% in June Bloomberg Fed Decision, Manufacturers Apply Brakes, India Hikes: Eco Day NAHB Eye on Housing Share of 2017 New Single-Family Houses in a Homeowners' Association CNBC ISM manufacturing index hits 58.1 in July; construction spending down 1.1% in June CNBC Debt-laden US government is expanding the size of Treasury bond auctions to fund itself

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