Refinancing activity has probably held up better than expected as interest rates have risen. Refinance applications accounted for more than 40 percent of the total in each of the Mortgage Bankers Association's weekly application volume summaries in December, aided by an unexpected dip in rates. But CoreLogic's chief economic Frank Nothaft is predicting a dim future for that part of the business. In his Economic Outlook for January, Nothaft says he expects mortgage rates to reach their highest levels in a decade this year, affecting home buyers' monthly payments and lessening the impact of new conforming loan limits. But the larger effect will be on refinancing. Millions of homeowners have already refinanced into the record low rates over the last few years, and they, as well as those who have

January 4, 2019 Download our Mobile App: Download our Mobile App: Housing News Another Dim Outlook for Refinancing Refinancing activity has probably held up better than expected as interest rates have risen. Refinance applications accounted for more than 40 percent of the total in each of the Mortgage Bankers Association's weekly application volume summaries in D... (read more) Mortgage Rate Watch Mortgage Rates Lowest in Nearly a Year Mortgage rates have been plummeting , depending on your definition of the word. To be sure, the past 2 months have no competition in nearly 3 years. The past few days have been special in their own right. Whereas there was cause for concern about the... (read more) MBS Commentary MBS Live Day Ahead: Huge Jobs Report Guarantees One of Two Clear Messages For Bonds It's no secret that the bond market has been on a tear for more than a month.  10yr Treasury yields dropped more than 30 basis points (0.30%) in December alone and quickly added to those gain on the first two trading days of January, dropping an... (read more) Rob Chrisman Non-QM, Joint Venture Products; Agency Shutdown News; Flat Rates in 2019? Some view the end of one year and the beginning of another as an artificial construct, created by human intervention. Others take careful note of what happened during the year. For those in the latter category, Freddie Mac tells us that at the end of... (read more) MBS Commentary MBS Live Day Ahead: Just What The Heck is Going on With Mortgages vs Treasuries? Bonds started the new year off on a strong note yesterday, rallying to the best levels since ____.  That blank would be filled in with a distinctly different month depending on who you choose as your bond market spokesman.  If you choose ... (read more) MBS Commentary MBS Live Recap: Bonds on Fire (In a Good Way) Bonds hit their best levels in nearly a year today, depending on the security in question.  MBS are lagging behind Treasuries for reasons discussed in the Day Ahead post (which you should save and refer to if you've been curious about MBS vs T... (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 98.83 -0.09 Price / Yield Change MBS UMBS 5.5 98.83 -0.09 UMBS 6.0 100.50 -0.06 GNMA 5.5 99.42 -0.14 GNMA 6.0 100.68 -0.03 Pricing as of: 11/15 6:33PM EST 10 Year US Treasury 4.4404 +0.0016 Price / Yield Change US Treasury 2 YR Treasury 4.301 -0.049 5 YR Treasury 4.307 -0.019 7 YR Treasury 4.374 -0.013 10 YR Treasury 4.440 +0.002 30 YR Treasury 4.617 +0.034 Pricing as of: 11/15 6:33PM EST Latest Video Federal reserve offered more change in communication than policy, says expe... One rate hike seems more likely in 2019, says strategist 312,000 jobs created in December, exceeding expectations Around the Web Reuters Powell to markets: Fed is flexible and aware of risks CNBC Rent, mortgage payments are hard to meet for workers entangled in the government shutdown Calculated Risk Blog How can the unemployment rate increase if the economy is adding so many jobs? consumerfinancemonitor.com CFPB Announces Opening of HMDA Data Filing Period CNBC The top 10 US cities where rents have increased the most Calculated Risk Blog Q4 GDP Forecasts: Mid 2s NAR - Realtor.com More First-Time Home Buyers Are Turning to the Bank of Mom and Dad Reuters Fed Chair Powell says he would not resign if asked CNBC Powell says Fed 'wouldn't hesitate' to tweak balance sheet reduction if it was causing problems CNBC Job Growth Surges by 312,000 in December CNBC Cleveland Fed President Loretta Mester: Our 2019 forecast of two rate hikes all depends on how the economy will perform Reuters Powell's plain English Fed may need more nuance: ex-official Bloomberg Forget Fed Hikes, Traders Are Now Fully Pricing a Cut by April 2020

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