Mortgage rates had a bad day. Even after a weaker reading on Retail Sales (something that normally helps), the bond market lost ground. Unfortunately, that's consistent with the rest of the week as investors have largely shunned bonds. Lower demand for bonds = higher rates. Perhaps "shunned" isn't the perfect word. Investors are indeed buying bonds, but there have been so many to buy this week that sellers have had to lower prices to get them out the door. That's a bit of an oversimplification of the how things actually work, but the dynamic of higher supply driving higher rates is at the heart of the issue. Beyond that, investors are nervous about buying bonds too aggressively in an environment where wages are rising, retail sales are holding steady at long-term highs, consumer sentiment is

September 14, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Jump to 4-Month Highs Mortgage rates had a bad day. Even after a weaker reading on Retail Sales (something that normally helps), the bond market lost ground. Unfortunately, that's consistent with the rest of the week as investors have largely shunned bonds. Lower demand f... (read more) Housing News Lower Priced Homes Driving New Home Sales While applications for financing new home purchases declined in August, the Mortgage Bankers Association (MBA) is predicting a bump in the month's new home sales. The MBA's Builder Applications Survey (BAS) data for August show mortgage applications ... (read more) Housing News CoreLogic: Hurricane Florence Losses Estimated at $3 to $5B Even as Hurricane Florence is pushing unprecedented levels of flood waters into North and South Carolina homes, CoreLogic is issuing estimates regarding the storm's dollar costs. Their analysis shows that insured property losses for both residential ... (read more) MBS Commentary MBS Live Day Ahead: How Did We End Up In This Mess? The question posed in the title is just a bit too big for us to cover in this humble "day ahead" post, but we can touch on a few key points.  I just thought it was a good time to revisit it, given that 10yr yields are beginning the day once-agai... (read more) Rob Chrisman Trailing Doc, Tax, and Reverse Products; Vendor News; New Lender Programs “Rob, the number of vendors at mortgage conferences seems to be growing. Any idea how many vendors (vs. lenders) there are?” I had no idea but turned to Ginger Bell who keeps up with such things. She replied, “We’ve counted mo... (read more) MBS Commentary MBS Live Recap: September Trend is Not Your Friend August was nice.  September is mean... at least if you're a bond. Investors wanted you in August when it was still unclear whether or not Turkey was going to be a big deal for the global financial system, whether the trade war would spiral... (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 98.86 -0.07 Price / Yield Change MBS UMBS 5.5 98.86 -0.06 UMBS 6.0 100.52 -0.04 GNMA 5.5 99.50 -0.07 GNMA 6.0 100.66 -0.05 Pricing as of: 11/15 12:44AM EST 10 Year US Treasury 4.4577 +0.0189 Price / Yield Change US Treasury 2 YR Treasury 4.346 -0.005 5 YR Treasury 4.335 +0.009 7 YR Treasury 4.398 +0.011 10 YR Treasury 4.456 +0.017 30 YR Treasury 4.609 +0.026 Pricing as of: 11/15 12:44AM EST Latest Video Liesman: Market has to 'game out' Hurricane Florence Consumer sentiment index hits 100.8, second highest since March Retail sales up only 0.1% in August Around the Web Calculated Risk Blog Lawler: Household Estimates Conundrum Alive and Well Reuters Wall Street near flat, Trump gives go ahead on China tariffs CNBC San Francisco Fed names Mary Daly as president Bloomberg Bailing Out AIG: 10 Years After the Financial Crisis CNBC The bond market is beginning to believe the Fed is serious about two more rate hikes this year CNBC Homeowners are sitting on $6 trillion in available cash, but they're not tapping it Calculated Risk Blog Q3 GDP Forecasts CNBC The financial crisis set millennials backbut it may have made them better with money Reuters Yellen: Fed should commit to future 'booms' to make up for major busts Reuters Fed's Evans says premature to read much into yield curve Reuters Fed policy to turn mildly restrictive in 2019, Evans says Calculated Risk Blog Industrial Production Increased 0.4% in August CNBC US import prices post largest drop in more than 1-1/2 years

© 2024  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.