Mortgage rates began the day in roughly unchanged territory. Some lenders were microscopically stronger or weaker compared to yesterday, but not enough to impact the average mortgage borrower. For the first few hours of the day, it looked as if rates would stay unchanged or possibly move slightly higher. That all changed when stocks began losing ground. It's always worth remembering (and this will be especially true when the next time it's proven) that there's no magic rule that says stock prices and interest rates must move in the same direction. It is true that there are frequent examples of such correlation, but there are plenty of other examples where the correlation complete breaks down. All that to say that stock losses helped rates today, but will not always necessarily help rates in

November 14, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Nov 14, 2018 Afternoon Mortgage Rate Improvements For Most Lenders Wed, Nov 14, 2018 4:18PM Mortgage rates began the day in roughly unchanged territory. Some lenders were microscopically stronger or weaker compared to yesterday, but not enough to impact the average mortgage borrower. For the first few hours of the day, it looked as if rates would stay unchanged or possibly move slightly higher. That all changed when stocks began losing ground. It's always worth remembering (and this will be especially true when the next time it's proven) that there's no magic rule that says stock prices and interest rates must move in the same direction. It is true that there are frequent examples of... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.29 0.00   97.47 101.61 UMBS 30YR 6.0 102.45 +0.00   99.66 102.50 10 YR Treasury 4.037 -0.003   3.621 4.780 MBS Live Day Ahead: CPI Gets First At-Bat, Then Back to Stocks Wed, Nov 14, 2018 8:28AM Bonds are actively trying to decide who they are and what they want to do with their lives.  Will they be barometers of economic growth and inflation?  Or will they be gauges of Fed bond buying and US government bond selling (supply and dem... (read more) MBS Live Recap: Best Levels in More Than a Week Ahead of CPI Tue, Nov 13, 2018 4:51PM CPI (the Consumer Price Index) has been the most relevant economic report on the horizon since the balmy NFP report from 2 weeks back.  Reason being: NFP contained a strong wage growth component, and that always generates some fear among bond traders that higher wages will translate to higher inflation.  Economists aren't exactly expecting a big ... (read more) MBS Live Recap: More Stock Losses Bring More Bond Bounces Wed, Nov 14, 2018 4:58PM The narrative has grown (remained?) the same for bonds lately.  If stocks are losing ground, then it's time to rally .  If stocks are stabilizing or recovering, it's time to sell .  Today was more of the same in that regard. For the first few hours of the day, yields moved gradually higher despite the inability of core inflation to even ... (read more) MBS Price Change UMBS 5.0 99.91 0.00 UMBS 5.5 101.29 0.00 UMBS 6.0 102.45 +0.00 GNMA 5.0 100.22 -0.03 GNMA 5.5 101.25 +0.02 GNMA 6.0 102.01 +0.03 Pricing as of: 9/16 1:06AM EST US Treasury Yield Change 2 YR Treasury 3.536 -0.001 5 YR Treasury 3.605 +0.005 7 YR Treasury 3.788 -0.004 10 YR Treasury 4.038 -0.003 30 YR Treasury 4.658 -0.003 Pricing as of: 9/16 1:06AM EST Other News Millennials Could be Foregoing Equity Wealth Wed, Nov 14, 2018 9:39AM While reams of research have been done on why members of the Millennial generation are less likely to own a home compared to their baby boomer and Gen X elders at the same age, the Urban Institute (UI) notes that knowing the reasons doesn't necessarily shed much light on the potential long-term implications of this behavior. Delaying homeownership , accordin... (read more) Mortgage Applications: Refis at Lowest Levels Since 2000 Wed, Nov 14, 2018 8:08AM Mortgage application activity continued to shrink during the week ended November 9. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume dropped by 3.2 percent on a seasonally adjusted basis when compared to its level on November 2. The index has declined by an aggregate of 9.7 percent since it posted its... 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