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Mortgage rates were unchanged today, on average, marking the second straight day with minimal change near the highest levels in more than 2 months. For most lenders, that means conventional 30yr fixed rate quotes near 4.0% on top tier scenarios. So far this week, day-to-day changes have been limited to the upfront closing cost side of the equation (as opposed to interest rates themselves). While this can have a slight impact on the overall cost of financing, it doesn't change the "note rate" attached to a new mortgage. Underlying financial markets have been fairly calm for the past 2 days despite successive all-time highs in stocks. The economic data and events that motivate bond markets (which dictate mortgage rates) have been absent, but that's set to change heading into the 2nd half of the
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Mortgage Rate Watch
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Mortgage rates were unchanged today, on average, marking the second straight day with minimal change near the highest levels in more than 2 months. For most lenders, that means conventional 30yr fixed rate quotes near 4.0% on top tier scenarios. So f... (read more) |
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Housing News
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The highest property taxes in 2016 were paid by homeowners New Jersey, and the lowest were in Alabama. The difference between the two was impressive; $7,707. Using the Census Bureau's 2016 American Community Survey, the National Association of Home B... (read more) |
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Housing News
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Home prices posted strong increases again in August. CoreLogic's Home Price Index was up 0.9 percent on a month-over-month basis, the same gain it posted from June to July. However, on an annual basis appreciation increased from 6.7 percent in July t... (read more) |
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Rob Chrisman
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Sunday this industry lost a brother and a friend in the senseless and selfish Las Vegas massacre. Brian Fraser was an awesome husband, father, originator, leader, and coach. Todd Duncan and High Trust have created the brianfraserfund.com to raise mon... (read more) |
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MBS Commentary
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Bond markets are in the throes of their worst uptrend in yields since the November presidential election. Granted, trading levels are still roughly in the middle of the post-election range, but that's precious little consolation next to the p... (read more) |
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MBS Commentary
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Both yesterday and today have been the sort of days that just haven't mattered in the slightest for bond markets. Yesterday was spent consolidating the losses seen through the end of last week. Today saw a similar consolidation, despite tradi... (read more) |
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