MBS RECAP: Bond Rout Continues With No Help From Month-End

Before you read it here, it was on MBS Live.

28-Day Free Trial

Posted to: MBS Commentary
Friday, June 30, 2017 4:53 PM

Forward this email: Send a copy of this story to someone you know that may want to read it.

There is month-end bond buying and then there is month-end “position-squaring.” These are 2 different things. Month-end bond-buying refers specifically to the phenomenon of money managers adjusting their holdings to match a specific bond market index. In general, there’s always a need to add to bond holdings because there’s always a certain amount that will be maturing in any given month. That’s why another name for month-end buying is “index extensions” (because average duration of any given set of bond holdings must be re-stretched or “extended” every month,…

(READ THE FULL POST)

More from MND:

• Mortgage Rate Watch: Worst Week For Mortgage Rates Since March
• MND NewsWire: A Counterpoint For Recent Move Higher in Bond Yields
• MND NewsWire: Does Refi Advertising Help or Hurt Borrowers and Lenders?
• MBS Commentary: MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions
• Pipeline Press: Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/mortgage_rates/blog/755777.aspx

You were sent this email because you opted to receive email alerts when a new article was published to this Mortgage News Daily channel. To adjust your email settings:
Manage Your Email

Unsubscribe from all Email Communications

Forward this email: Send a copy of this story to someone you know that may want to read it.

Daily Newsletter: Worst Week For Rates Since March, and a Counterpoint; Does Refi Advertising Help or Hurt?

View this Report in your Web Browser | Forward to a Friend | Subscribe

30 Year Fixed 4.07% +0.01 15 Year Fixed 3.32% +0.01 10YR Treasury 2.30% +0.0353 FNMA 30YR 3.5 102.66 -0.22 FNMA 15YR 2.5 102.59 -0.13 View Today’s Rates

Friday June 30, 2017 Mortgage Rate Watch – 3:43PM Worst Week For Mortgage Rates Since March Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most … MND NewsWire – 3:07PM A Counterpoint For Recent Move Higher in Bond Yields The yield on the 10-year Treasury note hit its highest level in a little over month in Friday trading. But some strategists say bond yields edging up is not an indication that economic … MND NewsWire – 1:02PM Does Refi Advertising Help or Hurt Borrowers and Lenders? “Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when they should wait, or by waiting when they should refinance.” That is the working premise of … Pipeline Press – 9:20AM Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders Huh? The year is half over? Didn’t 2017 just start? Time has a way of flying by. Via rocket ship. July starts tomorrow… and we hear of a new marketing idea. SoFi is offering … MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions Average FICOs Declining; Fannie G-Fees Bounce Higher -UI Chartbook Latest Video Will markets rally or correct in the second half? Consumer sentiment index at 95.1 vs. 94.4 estimate Personal income up 0.4% in May More News from ‘Around the Web’ CNBC – 3:08PM Rising homeowner rates could have implications for renting eyeonhousing.org – 3:08PM Residential Fixed Investment Reaches Near-Decade High Bloomberg – 2:58PM Wells Fargo Unsettles Mortgage Bond Market by Holding Back Funds Calculated Risk Blog – 10:46AM Chicago PMI Increases in June, Highest in Three Years CNBC – 10:46AM Consumer sentiment hits lowest level since November CNBC – 8:45AM US consumer spending up just 0.1%, despite income gain http://www.builderonline.com – 8:35AM Percentage of Homebuyers That Made an Offer Sight-Unseen Up From 2016 CNBC – 8:35AM A Yellen replacement is unlikely to throw Fed off course, says Bullard http://www.consumerfinancemonitor.com – 8:32AM Treasury report on U.S. financial system recommends extensive mortgage lending reforms Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.07% +0.01 15 Yr FRM 3.32% +0.01 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 4.33% +0.02 5/1 Yr ARM 3.16% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.06% 1.30 +0.03 30 Yr. Fixed 3.76% 1.38 +0.03 MBA ** 30 Yr. Fixed 4.13% 0.32 +0.00 15 Yr. Fixed 3.39% 0.33 -0.01 30 Yr. Jumbo 4.09% 0.20 +0.01 30 Yr. FHA 4.02% 0.41 -0.02 5/1 ARM 3.31% 0.25 +0.05 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.88% 0.50 -0.02 15 Yr. Fixed 3.17% 0.50 +0.00 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.17% 0.50 +0.03 Secondary Markets MBS Price Change 30YR FNMA 3.0 99.83 -0.30 30YR FNMA 3.5 102.66 -0.22 30YR GNMA 3.0 100.97 -0.44 30YR GNMA 3.5 103.52 -0.34 15YR FNMA 3.0 102.59 -0.13 15YR FNMA 2.5 100.42 -0.20 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 1.3856% +0.0124 5 YR 1.8867% +0.0365 10 YR 2.3019% +0.0353 30 YR 2.8332% +0.0190 Prices as of: 6/30/2017 4:26PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2017 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe

You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Weekly Newsletter: “Lopsided Conditions” Hit Sales; Bad Week for Rates; GSE Drama; Price Gains Slowing?

View this Report in your Web Browser | Forward to a Friend | Subscribe

30 Year Fixed 4.07% +0.01 15 Year Fixed 3.32% +0.01 10YR Treasury 2.30% +0.0353 FNMA 30YR 3.5 102.66 -0.22 FNMA 15YR 2.5 102.59 -0.13 View Today’s Rates

Friday June 30, 2017 MND NewsWire – 6/28 "Lopsided Conditions" Dragging Down Pending Home Sales Pending home sales failed to rise as expected in May, the third straight month that measure has declined. The National Association of Realtors’® (NAR’s) Pending Home Sale Index … Mortgage Rate Watch – 6/30 Worst Week For Mortgage Rates Since March Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most … MND NewsWire – 6/27 Signs of Deceleration Despite Record High Home Price Index – Case-Shiller The S&P CoreLogic Case-Shiller National Home Price Index for April set a record high , on a non-seasonally adjusted (NSA) basis for the fifth consecutive month. Some of the Case … MND NewsWire – 6/27 Curtain May be Rising on Another GSE Drama Bloomberg is reporting there appears to be yet another plan in the long running reality show featuring the government sponsored enterprises or GSEs. Fannie Mae and Freddie Mac, which … Does Refi Advertising Help or Hurt Borrowers and Lenders? Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders Waivers Granted for Early Compliance with Servicing Rules A Counterpoint For Recent Move Higher in Bond Yields Falling Demand, Competition, Push Lenders Toward Easing Standards Freddie Singing a Different Tune on Housing/Mortgage Outlook Mortgage Application Activity Slows Significantly Investor Updates; Upcoming Training and Events Latest Video Is the bond market showing warning signs? Santelli Exchange: Is the U.S. 10-year establishing a new range? Housing inventory has gotten worse as demand rises More News from ‘Around the Web’ http://www.consumerfinancemonitor.com – 6/30 Treasury report on U.S. financial system recommends extensive mortgage lending reforms CNBC – 6/30 A Yellen replacement is unlikely to throw Fed off course, says Bullard http://www.builderonline.com – 6/30 Percentage of Homebuyers That Made an Offer Sight-Unseen Up From 2016 CNBC – 6/30 US consumer spending up just 0.1%, despite income gain CNBC – 6/30 Consumer sentiment hits lowest level since November Calculated Risk Blog – 6/30 Chicago PMI Increases in June, Highest in Three Years Bloomberg – 6/30 Wells Fargo Unsettles Mortgage Bond Market by Holding Back Funds eyeonhousing.org – 6/30 Residential Fixed Investment Reaches Near-Decade High CNBC – 6/30 Rising homeowner rates could have implications for renting Market Watch – 6/28 The Wall Street Journal: Now it’s easier to buy a home even if you have student loans http://www.redfin.com – 6/28 One in Three Recent Homebuyers Made an Offer Sight-UnseenUp from Nearly One in Five a Year Ago CNBC – 6/28 ‘What’s the rush’ on interest rate hikes, asks Fed’s Kashkari CNBC – 6/28 Pending home sales tumble as supply crisis hits sales info.trulia.com – 6/28 Trulia: Falling Inventory Has Led To Hurried Homebuying Bloomberg – 6/28 Draghi Tried to Be Cautious But Spooked the Market Anyway – Bloomberg http://www.realtor.com – 6/28 Labor Shortage Squeezes Real-Estate Developers Calculated Risk Blog – 6/28 Reis: Mall Vacancy Rate increased in Q2 2017 Bloomberg – 6/28 Kumar: Don’t Ignore Yellen’s Valuation Warning Calculated Risk Blog – 6/28 Zillow Forecast: "May Case-Shiller Forecast: Expect the Cooldown to Continue" CNBC – 6/27 A Republican and a Democrat team up to split Fannie Mae and Freddie Mac CNBC – 6/27 Draghi speaks of ‘strengthening and broadening recovery’ in euro zone, but says stimulus must remain http://www.gallup.com – 6/27 Americans’ Confidence in Economy Remains Barely Positive Market Watch – 6/27 Here’s how to invest in real estate â" think Warren Buffett-style, not shopping malls http://www.builderonline.com – 6/27 Real Estate Ponzi Scheme Unearthing Leads to Guilty Plea Reuters – 6/27 Wells Fargo to sell commercial insurance business Bloomberg – 6/27 A Mystery Fed Candidate Won a Seat at the FOMC Table, Then Walked Away CNBC – 6/27 Consumer confidence gains in June, topping estimates Calculated Risk Blog – 6/27 Reis: Apartment Vacancy Rate increased in Q2 to 4.4% Calculated Risk Blog – 6/27 Real House Prices and Price-to-Rent Ratio in April CNBC – 6/27 Yellen: Banks ‘very much stronger’; another financial crisis not likely ‘in our lifetime’ CNBC – 6/27 Watch Fed Chair Janet Yellen and Lord Nicholas Stern discuss world economic issues freddiemac.mwnewsroom.com – 6/27 Will the Hispanic Homeownership Gap Persist? http://www.consumerfinancemonitor.com – 6/26 House member launches fintech lending investigation CNBC – 6/26 Here’s the worrisome ‘conundrum’ taking place in the bond market right now http://www.consumerfinancemonitor.com – 6/26 Trade associations voice support for commission to run CFPB HUD – 6/26 HUD and Census Bureau Report New Residential Sales in May 2017 Calculated Risk Blog – 6/26 Freddie Mac: Mortgage Serious Delinquency rate declined in May, Lowest since May 2008 CNBC – 6/26 Art Cashin warns about a ‘wild card’ remark on a 2008 financial crisis repeat Google News – 6/26 71 Percent of Homeowners Believe It’s a Good Time to Sell; Economic and Financial Confidence Dips: Realtors® HOME Survey Calculated Risk Blog – 6/26 Chicago Fed "Index Points to Slower Economic Growth in May" Reuters – 6/26 U.S. core capital goods orders, shipments slip in May Fannie Mae – 6/26 As Mortgage Demand Cools and Competition Heats Up, More … CNBC – 6/26 Financial conditions another reason to tighten Fed policy: NY Fed’s Dudley Reuters – 6/27 Yields rise with European debt after upbeat Draghi comments Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.07% +0.01 15 Yr FRM 3.32% +0.01 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 4.33% +0.02 5/1 Yr ARM 3.16% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.06% 1.30 +0.03 30 Yr. Fixed 3.76% 1.38 +0.03 MBA ** 30 Yr. Fixed 4.13% 0.32 +0.00 15 Yr. Fixed 3.39% 0.33 -0.01 30 Yr. Jumbo 4.09% 0.20 +0.01 30 Yr. FHA 4.02% 0.41 -0.02 5/1 ARM 3.31% 0.25 +0.05 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.88% 0.50 -0.02 15 Yr. Fixed 3.17% 0.50 +0.00 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.17% 0.50 +0.03 Secondary Markets MBS Price Change 30YR FNMA 3.0 99.84 -0.28 30YR FNMA 3.5 102.66 -0.22 30YR GNMA 3.0 100.97 -0.44 30YR GNMA 3.5 103.52 -0.34 15YR FNMA 3.0 102.59 -0.13 15YR FNMA 2.5 100.42 -0.20 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 1.3856% +0.0124 5 YR 1.8867% +0.0365 10 YR 2.3019% +0.0353 30 YR 2.8340% +0.0198 Prices as of: 6/30/2017 4:36PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2017 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe

You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Weekly Rate Report: Mortgage Rates Appreciably Higher

View this Report in your Web Browser | Forward to a Friend | Subscribe

30 Year Fixed 4.07% +0.01 15 Year Fixed 3.32% +0.01 10YR Treasury 2.30% +0.0353 FNMA 30YR 3.5 102.66 -0.22 FNMA 15YR 2.5 102.59 -0.13 View Today’s Rates

Mortgage Rates Appreciably Higher June 30, 2017 Market Summary Mortgage rates moved appreciably higher from Tuesday through Friday. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning’s levels. While that’s not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages. Whereas lenders had been quoting conventional 30yr fixed rates in a range between 3.875% and 4.0% on Monday morning (on top tier scenarios), that range is now up to 4.0-4.125%. Just as we respected the previous trend toward lower rates until it was broken, so too should this new trend toward higher rates be respected until broken. That means erring on the side of locking vs floating, and simply understanding that rates could continue higher depending on next week’s data and events. –Matthew Graham, Chief of Operations, Mortgage News Daily 30 Year Fixed Rate Mortgage Week in Review Rates shown below are based on the 30 Year Fixed Rate Mortgage Beginning Average: 3.98% Ending Average: 4.07% Weekly Change: +0.09% Yearly Change: +0.54% Friday, June 23, 2017 : 3.98% (+0.00%) Weeks like this are the reason that some mortgage rate analysis is only done once a week. There haven’t been any significant developments in financial markets–at least not as far as bonds (which dictate rates) have been concerned. And there certainly hasn’t been any significant movement in mortgage rates themselves. In fact, with the exception of a modest dip last Wednesday, mortgage rates have been essentially flat for the entire month of June. More detail: “Rates Cap Impressively Sideways Week Near Long-Term Lows” Monday, June 26, 2017 : 3.97% (-0.01%) Mortgage rates were steady to slightly lower today, depending on the lender. Underlying financial markets continue moving in a narrow range–something that’s not uncommon for the first few weeks of the summer. It’s that market movement that can result in mortgage lenders issuing mid-day reprices. The more volatile and the bigger the moves, the more likely lenders are to reprice. Today saw zero reprices. More detail: “Rates Still Flat at 8-Month Lows” Tuesday, June 27, 2017 : 4.00% (+0.03%) Mortgage rates saw their biggest bounce higher in more than a week today as domestic bond markets (which dictate rates) followed a much bigger move in European bond markets. The European move can be traced to comments from European Central Bank President Mario Draghi depending on the lender. In a nutshell, his comments sounded like the Fed’s comments in the early days of the “taper tantrum” in the US (a big jump in rates that occurred when the Fed signaled its intention to buy fewer bonds). More detail: “Mortgage Rates Bounce Higher” Wednesday, June 28, 2017 : 4.02% (+0.02%) Mortgage rates moved moderately higher again today, as investors continued digesting the possibility of a “taper tantrum” in Europe. The US version of the taper tantrum occurred in 2013 when the Fed began signaling its intention to buy fewer bonds. Fed bond buying was a key motivation for the all-time low rates seen in 2012. More detail: “Mortgage Rates Highest in More Than 2 Weeks” Thursday, June 29, 2017 : 4.06% (+0.04%) Mortgage rates are higher again today, with the average lender now back to levels not seen since May 16th, 2017. Unless you’ve been following every little day-to-day change in rates, the apparent drama over the past few days is laughable. In the worst cases, some borrowers are now seeing rate quotes that are an eighth of percentage point higher than those seen on Monday morning. This comes out to $14/month for every $200k financed, but it can be more than a thousand dollars in terms of upfront costs on the same loan amount. More detail: “Mortgage Rates Highest in More Than a Month” Friday, June 30, 2017 : 4.07% (+0.01%) Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning’s levels. While that’s not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages. More detail: “Worst Week For Mortgage Rates Since March” Co-branding this Report Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads. Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.07% +0.01 15 Yr FRM 3.32% +0.01 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 4.33% +0.02 5/1 Yr ARM 3.16% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.06% 1.30 +0.03 30 Yr. Fixed 3.76% 1.38 +0.03 MBA ** 30 Yr. Fixed 4.13% 0.32 +0.00 15 Yr. Fixed 3.39% 0.33 -0.01 30 Yr. Jumbo 4.09% 0.20 +0.01 30 Yr. FHA 4.02% 0.41 -0.02 5/1 ARM 3.31% 0.25 +0.05 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.88% 0.50 -0.02 15 Yr. Fixed 3.17% 0.50 +0.00 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.17% 0.50 +0.03 Secondary Markets MBS Price Change 30YR FNMA 3.0 99.84 -0.28 30YR FNMA 3.5 102.66 -0.22 30YR GNMA 3.0 100.97 -0.44 30YR GNMA 3.5 103.52 -0.34 15YR FNMA 3.0 102.59 -0.13 15YR FNMA 2.5 100.42 -0.20 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 1.3856% +0.0124 5 YR 1.8867% +0.0365 10 YR 2.3019% +0.0353 30 YR 2.8332% +0.0190 Prices as of: 6/30/2017 4:32PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. © 2017 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe

You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Daily Rate Update: Worst Week For Mortgage Rates Since March

View this Report in your Web Browser | Forward to a Friend | Subscribe

30 Year Fixed 4.07% +0.01 15 Year Fixed 3.32% +0.01 10YR Treasury 2.30% +0.0335 FNMA 30YR 3.5 102.67 -0.20 FNMA 15YR 2.5 102.55 -0.17 View Today’s Rates

Worst Week For Mortgage Rates Since March June 30, 2017 Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning’s levels. While that’s not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages. Whereas 3.875% had been widely available on Monday morning, the most prevalently-quoted conventional 30yr fixed rate is now up to 4.0% for top tier scenarios, and 4.125% is rapidly gaining market share. Whereas the lock/float outlook had been calm and steady heading into this week, it quickly turned defensive as losses mounted. There are multiple justifications for the weakness ranging from European Central Bank “taper talk” to an overabundance of trading positions in favor of lower rates earlier in the week (which makes rates susceptible to the sort of correction we’re seeing now). Assume rates can continue higher until we see a definitive ceiling take shape. The earliest that could happen would be the end of next week. The last corrective uptrend in rates lasted 3.5 weeks. Today’s Most Prevalent Rates 30YR FIXED – 4.00-4.125% FHA/VA – 3.75% 15 YEAR FIXED – 3.25-3.375% 5 YEAR ARMS – 2.75 – 3.25% depending on the lender Ongoing Lock/Float Considerations Investors were relatively convinced that the decades-long trend toward lower rates had been permanently reversed after Trump became president, but such a conclusion would require YEARS to truly confirm Instead of continuing higher in 2017, rates instead formed a narrow, sideways range, and held inside until April. Investor perceptions are shifting such that fiscal reforms and other policy developments will need to live up to expectations in order to push rates higher. Geopolitical risks would also need to avoid flaring up (more than they already have) For the first time since the election, we’re in a rate environment where you wouldn’t be crazy not to lock at every little opportunity/improvement. Until/unless it’s broken, the highest rates of early-2017 mark the ceiling, and we’re now waiting to see how much lower we can go from here. Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders. The rates generally assume little-to-no origination or discount except as noted when applicable. Rates appearing on this page are “effective rates” that take day-to-day changes in upfront costs into consideration. 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Co-branding this Report Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads. Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.07% +0.01 15 Yr FRM 3.32% +0.01 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 4.33% +0.02 5/1 Yr ARM 3.16% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.06% 1.30 +0.03 30 Yr. Fixed 3.76% 1.38 +0.03 MBA ** 30 Yr. Fixed 4.13% 0.32 +0.00 15 Yr. Fixed 3.39% 0.33 -0.01 30 Yr. Jumbo 4.09% 0.20 +0.01 30 Yr. FHA 4.02% 0.41 -0.02 5/1 ARM 3.31% 0.25 +0.05 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 3.88% 0.50 -0.02 15 Yr. Fixed 3.17% 0.50 +0.00 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.17% 0.50 +0.03 Secondary Markets MBS Price Change 30YR FNMA 3.0 99.83 -0.30 30YR FNMA 3.5 102.67 -0.20 30YR GNMA 3.0 100.97 -0.44 30YR GNMA 3.5 103.52 -0.34 15YR FNMA 3.0 102.55 -0.17 15YR FNMA 2.5 100.42 -0.20 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 1.3856% +0.0124 5 YR 1.8867% +0.0365 10 YR 2.3001% +0.0335 30 YR 2.8317% +0.0175 Prices as of: 6/30/2017 4:18PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2017 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

A Counterpoint For Recent Move Higher in Bond Yields

Posted to: MND NewsWire
Friday, June 30, 2017 2:52 PM

Forward this email: Send a copy of this story to someone you know that may want to read it.

The yield on the 10-year Treasury note hit its highest level in a little over month in Friday trading.

But some strategists say bond yields edging up is not an indication that economic growth is picking up substantially.

“The bond market has largely been telling us, ‘growth is mediocre at best,’ and the stock market has been saying, ‘buckle up, it’s going to be great.’ And it’s a little bit hard to imagine a scenario in which both those things are true,” said Max Wolff, market strategist at 55 Institutional, Thursday on CNBC’s “Power Lunch.”

(READ THE FULL POST)

More from MND:

• MND NewsWire: Does Refi Advertising Help or Hurt Borrowers and Lenders?
• MBS Commentary: MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions
• Pipeline Press: Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders
• MBS Commentary: MBS RECAP: Bonds Might Have Done Even Worse if Not For Stocks
• Mortgage Rate Watch: Mortgage Rates Highest in More Than a Month

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/06302017_bond_yields_are_on_a_tear_but_don_t_let_the_move_fool_you.asp

You were sent this email because you opted to receive email alerts when a new article was published to this Mortgage News Daily channel. To adjust your email settings:
Manage Your Email

Unsubscribe from all Email Communications

Forward this email: Send a copy of this story to someone you know that may want to read it.

Does Refi Advertising Help or Hurt Borrowers and Lenders?

Posted to: MND NewsWire
Friday, June 30, 2017 10:17 AM

Forward this email: Send a copy of this story to someone you know that may want to read it.

“Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when they should wait, or by waiting when they should refinance.” That is the working premise of a paper published as part of the Federal Reserve’s Finance and Economics Discussion Series.

The paper, by Serafin Grundl and You Suk Kim, is titled “Consumer Mistakes and Advertising: The Case of Mortgage Refinancing.” Consumers, the authors say, tend to make mistakes and companies engage in various activities that can encourage mistakes, exploiting the biases of consumers to sell them overpriced products or those they don’t need, or conversely prevent mistakes by encouraging beneficial actions. Policies that restrict or regulate advertising can help the consumer, but where firms have an incentive to help consumers recognize products they do need, such restrictions would be harmful.

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions
• Pipeline Press: Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders
• MBS Commentary: MBS RECAP: Bonds Might Have Done Even Worse if Not For Stocks
• Mortgage Rate Watch: Mortgage Rates Highest in More Than a Month
• MND NewsWire: Average FICOs Declining; Fannie G-Fees Bounce Higher -UI Chartbook

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/06302017_refinancing.asp

You were sent this email because you opted to receive email alerts when a new article was published to this Mortgage News Daily channel. To adjust your email settings:
Manage Your Email

Unsubscribe from all Email Communications

Forward this email: Send a copy of this story to someone you know that may want to read it.

MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions

Before you read it here, it was on MBS Live.

28-Day Free Trial

Posted to: MBS Commentary
Friday, June 30, 2017 9:11 AM

Forward this email: Send a copy of this story to someone you know that may want to read it.

With bond yields so clearly lifting-off from their recent trend, today should be just another day to consider our relative demise. Being bullish on bonds right now is akin to being dropped onto a battlefield and immediately finding yourself outnumbered and outgunned. Sure, there have been some epic battles in history where small numbers of troops have overcome such odds, but the odds are against us.

The month/quarter-end process changes the battlefield into some sort of bizarro world where significant numbers of troops can instantly teleport onto the battlefield. Maybe …

(READ THE FULL POST)

More from MND:

• Pipeline Press: Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders
• MBS Commentary: MBS RECAP: Bonds Might Have Done Even Worse if Not For Stocks
• Mortgage Rate Watch: Mortgage Rates Highest in More Than a Month
• MND NewsWire: Average FICOs Declining; Fannie G-Fees Bounce Higher -UI Chartbook
• MBS Commentary: MBS Day Ahead: Yes, It’s Serious For Bond Markets

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/mortgage_rates/blog/754936.aspx

You were sent this email because you opted to receive email alerts when a new article was published to this Mortgage News Daily channel. To adjust your email settings:
Manage Your Email

Unsubscribe from all Email Communications

Forward this email: Send a copy of this story to someone you know that may want to read it.

Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders

Posted to: Pipeline Press
Friday, June 30, 2017 8:40 AM

Forward this email: Send a copy of this story to someone you know that may want to read it.

Huh? The year is half over? Didn’t 2017 just start? Time has a way of flying by. Via rocket ship. July starts tomorrow… and we hear of a new marketing idea. SoFi is offering a month’s worth of avocado toast to anyone who takes out a mortgage with it in July.

Freddie, Fannie, and conventional conforming changes

Here are substantive changes that companies are implementing thus impacting LOs and borrowers, thus make their way into the secondary markets. There is a lot of headline news about housing and GSE reform. I’ll cover some of that next week, as a portion of it is merely posturing and making opinions known rather than actual action items like these.

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS RECAP: Bonds Might Have Done Even Worse if Not For Stocks
• Mortgage Rate Watch: Mortgage Rates Highest in More Than a Month
• MND NewsWire: Average FICOs Declining; Fannie G-Fees Bounce Higher -UI Chartbook
• MBS Commentary: MBS Day Ahead: Yes, It’s Serious For Bond Markets
• Pipeline Press: Compliance; New Products; Housing and the Economy

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/channels/pipelinepress/06302017-avocado-toast.aspx

You were sent this email because you opted to receive email alerts when a new article was published to this Mortgage News Daily channel. To adjust your email settings:
Manage Your Email

Unsubscribe from all Email Communications

Forward this email: Send a copy of this story to someone you know that may want to read it.

Increase sales and exposure with our Targeted Website Traffic

hi
Boost your business with our quality services
http://www.basedbusinesstraffic.com

Regards
Raven Robinette

Unsubscribe option is available on the footer of our website