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Mortgage rates fell by a modest amount today. It was fairly inconsequential in the bigger picture, but could save some prospective borrowers a few dollars of upfront fees. If you're in a position to decide on locking your loan this afternoon, be aware that tomorrow brings the important jobs report (nonfarm payrolls and the unemployment rate are released) which can have a bigger impact on rates than other economic reports. Despite today's modest improvement, rates have been trending higher fairly consistently since breaking out of a sideways range on July 19th. But notably, current rates aren't that much higher than they were late last week. In contrast, Freddie Mac's widely-cited weekly rate survey says rates are 0.06% higher. That's actually fairly outrageous . For instance, one of the biggest
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Mortgage Rate Watch
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Mortgage rates fell by a modest amount today. It was fairly inconsequential in the bigger picture, but could save some prospective borrowers a few dollars of upfront fees. If you're in a position to decide on locking your loan this afternoon, be awar... (read more) |
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Housing News
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Both Fannie Mae and Freddie Mac, the two government supported enterprises (GSEs) that have been in federal conservatorship for ten years this month, reported another quarter of strong financial returns . Freddie Mac finished the second quarter with C... (read more) |
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Rob Chrisman
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When I was a young teen one of my summer jobs was working for a successful contractor in Cupertino, California at about $5 an hour. Comp has gone up significantly, as have all costs, and any originators working with builders should look at this graph... (read more) |
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MBS Commentary
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While recent bond market trends haven't been fun for originators, they've at least been more interesting from a market-watching standpoint. Markets throw the laws of physics on their head, where objects at rest are decreasingly likely to stay... (read more) |
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MBS Commentary
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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) |
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MBS Commentary
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Right at 9:30am this morning, both stocks and bond yields began moving higher . A modest overnight rally in Treasuries quickly came under fire and for a moment, we were effectively 'unchanged' on the day. But bonds found their footing fr... (read more) |
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consumerfinancemonitor.com
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