Mortgage rates caught a break today, moving lower for the first time this week and pushing back from the highest levels since early July 2017. Like yesterday, strong demand at a Treasury auction helped US bond markets, but notably, only the longer-term maturities (10yr and 30yr bonds were the big winners). Fortunately, the bonds that underlie mortgage rates tend to correlate well with longer-term Treasuries. Economic data also played a role with a weaker reading on inflation at the producer level. Tomorrow brings the much more important reading on consumer-level inflation (via the Consumer Price Index or CPI). If CPI is similarly weak, it could steel the resolve on the part of rates to hold to recent ceilings--potentially providing a base of operations for borrowers to consider a strategy other

January 11, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Catch a Break With Help From Treasuries Mortgage rates caught a break today, moving lower for the first time this week and pushing back from the highest levels since early July 2017. Like yesterday, strong demand at a Treasury auction helped US bond markets, but notably, only the longer-te... (read more) Housing News Growing Concerns Over VA Loan Churning A Ginnie Mae official told Congress this week that his agency has growing concerns over the incidence of "loan churning" in the VA mortgage program. Michel R. Bright, Ginnie Mae's Executive Vice President and COO was among four mortgage industry expe... (read more) Rob Chrisman LIBOR Replacements; Mortgage Rates and Tax Reform When I grow up I want a million-dollar house! Tight inventories, costs, and appreciation have created an increase of houses worth seven figures - the number has quadrupled in fifteen years. (Builder reasons? Higher profits & profit margins and bu... (read more) MBS Commentary MBS Live Day Ahead: China's "Fake News" Comes and Goes. Shocking Market Reaction Follows Yesterday, the possibility of China decreasing its purchases of US Treasuries was all anyone could talk about .  Amid a sea of voices declaring this as a major fundamental market mover for US rates, I yelled counterpoints from my soap box. T... (read more) Housing News New Home Sales Defy Holiday Lull, Rising in December Despite the usual holiday lull in overall mortgage applications, the demand for newly constructed homes increased in December. The Mortgage Bankers Association (MBA) said its Builder Applications Survey (BAS) found those applications were up 18 perce... (read more) MBS Commentary MBS Live Recap: Another Strong Auction Helps Bonds After China News Debunked Yesterday morning's news regarding China potentially buying fewer (or selling) US Treasuries has been a big talking point.  While most pundits and even a few traders jumped on the bandwagon right off the bat, we immediately flagged it as a Red ... (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 98.87 -0.06 UMBS 6.0 100.52 -0.04 GNMA 5.5 99.50 -0.07 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 9:17PM EST 10 Year US Treasury 4.4508 +0.0120 Price / Yield Change US Treasury 2 YR Treasury 4.356 +0.006 5 YR Treasury 4.334 +0.008 7 YR Treasury 4.391 +0.004 10 YR Treasury 4.445 +0.006 30 YR Treasury 4.592 +0.009 Pricing as of: 11/14 9:17PM EST Latest Video Treasury Secretary Mnuchin: Most important issue is for companies to increa... Santelli Exchange: Inside the buy-side survey results Santelli Exchange: Looking at China on the global rate table Around the Web CNBC Fed's Dudley warns that tax cuts putting economy on an 'unsustainable path' CNBC David Rosenberg: Fed taking on role of 'serial bubble blower' and it won't 'end well' CNBC 5 tips before you buy or sell a home in cryptocurrency Calculated Risk Blog Oil Prices Higher, Up 19% Year-over-year Bloomberg One in Four US Homebuyers Paid Above Listing Price Last Year Bloomberg What Bond Rout? Let's Not Get Carried Away by the Hype and Noise CNBC Citigroup warns New York and California homeowners could see tax bills go up about $3,000 consumerfinancemonitor.com Court Denies English's Preliminary Injunction Motion; Mulvaney Continues to Exercise Acting CFPB Director Authority Calculated Risk Blog Sacramento Housing in December: Sales down 8% YoY, Active Inventory up 8% YoY Freddie Mac Mortgage Rates Bounce Back Up CNBC Why this homeowner will accept bitcoin for his $45 million mansion CNBC US producer prices fall for first time in nearly 1- years CNBC US jobless claims increase for fourth straight week

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