Daily Newsletter: Mortgage Rates Back Down From 2-Month Highs

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30 Year Fixed
3.97% -0.02
15 Year Fixed
3.24% -0.02
10YR Treasury
2.34% +0.0305
FNMA 30YR 3.5
103.02 -0.19
FNMA 15YR 2.5
102.69 -0.16
View Today’s Rates
Friday September 29, 2017
Mortgage Rate Watch – 2:37PM
Mortgage Rates Back Down From 2-Month Highs
Mortgage rates moved lower today, even though underlying bond markets (which ultimately drive rates) suggested a move higher. This happens from time to time and it’s usually a factor …
MND NewsWire – 12:23PM
Mortgage Fraud Characterized by Delayed Discovery
Mortgage fraud may be both more prevalent than lenders know and more insidious than they realize according to Bridget Berg, a principal in Industry Solutions and Property Intelligence …
MBS Commentary – 3:49PM
MBS RECAP: Strong Start, Weak Finish on Fed Musical Chairs and Month End
The music is currently playing for the role of Fed Chair next year. When the music stops, Yellen may or may not still have a seat. News came out this morning that Trump was meeting …
Pipeline Press – 9:23AM
Disaster Updates; RBS Lawsuit Setback; Lender Products
Yesterday was the release of the HMDA information by the CFPB. Yes, there is a dashboard to slice and dice the data; more information below. And yes, HMDA data collection changes enforced …

Latest Video


We don’t have faith in meaningful tax cuts: Wells Fargo’s Scott Wren

Trump met with Kevin Warsh amid quest to fill Fed chair job

Quicken Loans founder Dan Gilbert: As long as rates are reasonable, mortgage deduction going away doesn’t matter

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.97% -0.02
15 Yr FRM 3.24% -0.02
FHA 30 Year Fixed 3.60% +0.00
Jumbo 30 Year Fixed 4.17% -0.03
5/1 Yr ARM 3.21% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.22 -0.02
30 Yr. Fixed 4.14% 1.32 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.06% 0.38 -0.05
15 Yr. Fixed 3.34% 0.38 -0.02
30 Yr. Jumbo 3.96% 0.20 -0.04
30 Yr. FHA 3.98% 0.35 -0.04
5/1 ARM 3.14% 0.31 -0.12
Freddie Mac ** hdr_arrow.png
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 3.83% 0.60 +0.00
15 Yr. Fixed 3.13% 0.50 +0.00
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.20% 0.50 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.23 -0.20
30YR FNMA 3.5 103.02 -0.19
30YR GNMA 3.0 101.33 +0.02
30YR GNMA 3.5 104.00 -0.06
15YR FNMA 3.0 102.69 -0.16
15YR FNMA 2.5 100.64 -0.16
Treasuries hdr_arrow.png
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
TR_Eikon_Email.png
2 YR 1.4907% +0.0360
5 YR 1.9393% +0.0462
10 YR 2.3390% +0.0305
30 YR 2.8657% -0.0031
Prices as of: 9/29/2017 5:06PM EST

23623981

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
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Weekly Rate Report: Mortgage Rates Higher After Tax Plan

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weeklyrateheader.png
30 Year Fixed
3.97% -0.02
15 Year Fixed
3.24% -0.02
10YR Treasury
2.34% +0.0305
FNMA 30YR 3.5
103.02 -0.19
FNMA 15YR 2.5
102.69 -0.16
View Today’s Rates
Mortgage Rates Higher After Tax Plan
September 29, 2017
Market Summary
Mortgage rates went on a bumpy ride this week, ultimately matching their highest levels in roughly 2 months. The motivations were more complex, but the key development was the bond market’s reaction to the unveiling of the Trump Administration’s tax proposal.

The net effect was a relatively abrupt move higher on Wednesday and Thursday with the rest of the week being largely uneventful.

Despite the volatility, the recent range remains narrow. Most borrowers are seeing rates that are an eighth of a point higher than recent lows, with the average top-tier conventional 30yr fixed quote near 4.0%.

Matt Graham, Mortgage News Daily

30 Year Fixed Rate Mortgage
29?w=360
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage

Beginning Average: 3.97%
Ending Average: 3.97%
Weekly Change: +0.00%
Yearly Change: +0.59%

Friday, September 22, 2017 : 3.97% (+0.00%)
Mortgage rates held their ground yesterday. That was a refreshing development given the abrupt move higher over the past 2 weeks and a relatively threatening reaction to Wednesday’s Federal Reserve events. Now again today, rates have managed to hold their ground. In some cases, lenders improved by token amounts. If yesterday was refreshing, today would be doubly so.

More detail: “Rates Show Resilience But Not Without Help”

Monday, September 25, 2017 : 3.97% (+0.00%)
Mortgage rates held their ground yet again, and are finally starting to look resilient after a relatively sharp move higher over the past 2 weeks. This was true even before mid-day headlines put additional downward pressure on rates. The headlines in question quoted North Korean officials saying that the US had “declared war” and that North Korea had the right to shoot down US warplanes even outside North Korean airspace. When news headlines include the words “US, declares, and war” financial markets tend to respond, even if much of that response is driven by headline-reading trading algorithms.

More detail: “Mortgage Rate Resilience Continues “

Tuesday, September 26, 2017 : 3.95% (-0.02%)
Mortgage rates improved moderately today, making this the 4th straight business day without any new weakness (aka “higher rates”). It’s necessary to include “days that haven’t been bad” in that tally because two of them merely saw rates hold flat. That’s about as much of a victory as we have been able to hope for ever since Septembers abrupt little rate spike began just over 2 weeks ago. What are we talking about here in terms of actual damage?

More detail: “4th Straight Day Without Bad News For Mortgage Rates”

Wednesday, September 27, 2017 : 3.98% (+0.03%)
First thing’s first: mortgage rates didn’t have nearly as bad a day as US Treasuries. The latter serve as a general benchmark for the former, but can take cues from different sources with varying levels of intensity. Today’s most widely-discussed cue was yesterday afternoon’s release (or “leak”) of Trump’s tax plan. It’s essentially a thorough bullet-point list that serves as a starting point for a drawn-out legislative process. At the end of the day, actual tax reform may be quite a bit different than the details being circulated today. That fact may help explain why there wasn’t a bigger, more unified reaction in other markets (like stocks).

More detail: “Mortgage Rates Jolted Higher By Tax Plans”

Thursday, September 28, 2017 : 3.99% (+0.01%)
Mortgage rates were decidedly higher this morning, with most lenders back above last week’s highs. At the time, those were the highest rates in more than a month, although the range has been relatively narrow. Underlying bond markets improved throughout the day, however, resulting in a fair amount of lenders revising rate sheets for the better. After those revisions, rates are pretty close to yesterday’s levels.

More detail: “Mortgage Rates Trying to Find a Ceiling”

Friday, September 29, 2017 : 3.97% (-0.02%)
Mortgage rates moved lower today, even though underlying bond markets (which ultimately drive rates) suggested a move higher. This happens from time to time and it’s usually a factor of timing. Today is no different. Bond markets were improving throughout the day yesterday, but started out at much weaker levels. Bond market weakness is associated with higher rates. As such, yesterday’s rates were the highest we’d seen in roughly 2 months. As bonds improved throughout the day, many lenders abstained when it arguably became time to release friendlier rate sheets.

More detail: “Mortgage Rates Back Down From 2-Month Highs”

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.97% -0.02
15 Yr FRM 3.24% -0.02
FHA 30 Year Fixed 3.60% +0.00
Jumbo 30 Year Fixed 4.17% -0.03
5/1 Yr ARM 3.21% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.22 -0.02
30 Yr. Fixed 4.14% 1.32 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.06% 0.38 -0.05
15 Yr. Fixed 3.34% 0.38 -0.02
30 Yr. Jumbo 3.96% 0.20 -0.04
30 Yr. FHA 3.98% 0.35 -0.04
5/1 ARM 3.14% 0.31 -0.12
Freddie Mac ** hdr_arrow.png
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 3.83% 0.60 +0.00
15 Yr. Fixed 3.13% 0.50 +0.00
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.20% 0.50 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.23 -0.20
30YR FNMA 3.5 103.02 -0.19
30YR GNMA 3.0 101.33 +0.02
30YR GNMA 3.5 104.00 -0.06
15YR FNMA 3.0 102.69 -0.16
15YR FNMA 2.5 100.64 -0.16
Treasuries hdr_arrow.png
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 1.4907% +0.0360
5 YR 1.9393% +0.0462
10 YR 2.3390% +0.0305
30 YR 2.8657% -0.0031
Prices as of: 9/29/2017 5:06PM EST

TR_Eikon_Email.png

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

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Weekly Newsletter: Rates Jolted by Tax Plans; Housing Attitudes Not Feeling The Funk; Sales Momentum “Drained”; Competition Ramps Up

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weeklynewsletter.png
30 Year Fixed
3.97% -0.02
15 Year Fixed
3.24% -0.02
10YR Treasury
2.34% +0.0305
FNMA 30YR 3.5
103.02 -0.19
FNMA 15YR 2.5
102.69 -0.16
View Today’s Rates
Friday September 29, 2017
Mortgage Rate Watch – 9/27
Mortgage Rates Jolted Higher By Tax Plans
First thing’s first: mortgage rates didn’t have nearly as bad a day as US Treasuries. The latter serve as a general benchmark for the former, but can take cues from different sources …
MND NewsWire – 9/25
Housing Market "Funk" Doesn’t Reflect Consumer Attitudes
Home sales might be a bit disappointing, but the National Association of Realtors® (NAR) says consumer attitudes about the economy are not the reason why . NAR’s third quarter Housing …
MND NewsWire – 9/27
Housing Momentum "Drained" Per Pending Sales Data
The prospects for home sales weakened further in August, and the National Association of Realtors® (NAR) has downgraded its sales forecast for the remainder of 2017. In what must …
MND NewsWire – 9/25
Competition Lowers Credit Standards and Profit Expectations
Since the fourth quarter of 2016, lenders have increasingly reported to Fannie Mae that they have been loosening their home mortgage credit standards. The company’s third quarter 2017 …

Latest Video


Quicken Loans founder Dan Gilbert: As long as rates are reasonable, mortgage deduction going away doesn’t matter

10-Year Treasury yield rises

CFPB’s Richard Cordray: Credit companies have to accept ‘the old days’ of no supervision is over

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.97% -0.02
15 Yr FRM 3.24% -0.02
FHA 30 Year Fixed 3.60% +0.00
Jumbo 30 Year Fixed 4.17% -0.03
5/1 Yr ARM 3.21% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.22 -0.02
30 Yr. Fixed 4.14% 1.32 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.06% 0.38 -0.05
15 Yr. Fixed 3.34% 0.38 -0.02
30 Yr. Jumbo 3.96% 0.20 -0.04
30 Yr. FHA 3.98% 0.35 -0.04
5/1 ARM 3.14% 0.31 -0.12
Freddie Mac ** hdr_arrow.png
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 3.83% 0.60 +0.00
15 Yr. Fixed 3.13% 0.50 +0.00
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.20% 0.50 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.23 -0.20
30YR FNMA 3.5 103.02 -0.19
30YR GNMA 3.0 101.33 +0.02
30YR GNMA 3.5 104.00 -0.06
15YR FNMA 3.0 102.69 -0.16
15YR FNMA 2.5 100.64 -0.16
Treasuries hdr_arrow.png
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
TR_Eikon_Email.png
2 YR 1.4907% +0.0360
5 YR 1.9393% +0.0462
10 YR 2.3390% +0.0305
30 YR 2.8657% -0.0031
Prices as of: 9/29/2017 5:06PM EST

23623981

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
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Daily Rate Update: Mortgage Rates Back Down From 2-Month Highs

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dailyrateheader.png
30 Year Fixed
3.97% -0.02
15 Year Fixed
3.24% -0.02
10YR Treasury
2.34% +0.0305
FNMA 30YR 3.5
103.02 -0.19
FNMA 15YR 2.5
102.69 -0.16
View Today’s Rates
Mortgage Rates Back Down From 2-Month Highs
September 29, 2017
Mortgage rates moved lower today, even though underlying bond markets (which ultimately drive rates) suggested a move higher. This happens from time to time and it’s usually a factor of timing. Today is no different.

Bond markets were improving throughout the day yesterday, but started out at much weaker levels. Bond market weakness is associated with higher rates. As such, yesterday’s rates were the highest we’d seen in roughly 2 months. As bonds improved throughout the day, many lenders abstained when it arguably became time to release friendlier rate sheets.

When that happens, lenders become more likely to pass along the market gains the following morning–assuming the market gains make it through the night. That was the case today, and it allowed lenders to put rates back in line with the second-best levels of the week. Is that much movement? No, not at all. In fact, most borrowers probably won’t notice much of a change on loan quotes outside the upfront costs. The actual interest rate being quoted should be the same as yesterday.


Loan Originator Perspective

Bonds sold off today, worsening pricing, despite weak inflation data released this morning. It appear bond traders are sipping giant gulps of tax-reform/economic growth kool-aid, despite the uncertainty of actual passage and the final details. In any case, have to play defense here, locking early is still the call. Float at your own risk. –Ted Rood, Senior Originator

Today’s Most Prevalent Rates

  • 30YR FIXED – 3.875-4.0%
  • FHA/VA – 3.5%
  • 15 YEAR FIXED – 3.25%
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • 2017 has proven to be a relatively good year for mortgage rates despite widespread expectations for a stronger push higher after the presidential election in late 2016. Most of the rate spike was done by the end of 2016 and we’ve generally moved sideways to lower since then
  • The biggest question is whether or not this counter-intuitive trend has an expiration date. Rates haven’t been immune from brief corrections back toward higher levels, and each correction causes concern that the good times are over.
  • Despite those concerns, we’ve seen rates make new lows in April, June, and September. Although rates have been rising since early September, they’d have to move even higher before we’d consider a change in the bigger picture theme.
  • All of the above having been said, past precedent suggests we’re due for a much bigger dose of volatility some time soon.
  • 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
29?w=360
15 Year Fixed Rate Mortgage
29?w=360&p=15YRFRM

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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 hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.97% -0.02
15 Yr FRM 3.24% -0.02
FHA 30 Year Fixed 3.60% +0.00
Jumbo 30 Year Fixed 4.17% -0.03
5/1 Yr ARM 3.21% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.22 -0.02
30 Yr. Fixed 4.14% 1.32 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 4.06% 0.38 -0.05
15 Yr. Fixed 3.34% 0.38 -0.02
30 Yr. Jumbo 3.96% 0.20 -0.04
30 Yr. FHA 3.98% 0.35 -0.04
5/1 ARM 3.14% 0.31 -0.12
Freddie Mac ** hdr_arrow.png
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 3.83% 0.60 +0.00
15 Yr. Fixed 3.13% 0.50 +0.00
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.20% 0.50 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.23 -0.20
30YR FNMA 3.5 103.02 -0.19
30YR GNMA 3.0 101.33 +0.02
30YR GNMA 3.5 104.00 -0.06
15YR FNMA 3.0 102.69 -0.16
15YR FNMA 2.5 100.64 -0.16
Treasuries hdr_arrow.png
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 1.4907% +0.0360
5 YR 1.9393% +0.0462
10 YR 2.3390% +0.0305
30 YR 2.8657% -0.0031
Prices as of: 9/29/2017 5:06PM EST

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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.

MBS RECAP: Strong Start, Weak Finish on Fed Musical Chairs and Month End

Before you read it here, it was on MBS Live.
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MBS RECAP: Strong Start, Weak Finish on Fed Musical Chairs and Month End

Posted to: MBS Commentary
Friday, September 29, 2017 3:49 PM

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The music is currently playing for the role of Fed Chair next year. When the music stops, Yellen may or may not still have a seat. News came out this morning that Trump was meeting with former Fed governor Kevin Warsh about filling the role. Warsh is also the son-in-law of one of Trump’s long-time friends, and is considered to be a “hawk” on the spectrum of dovish vs hawkish policymakers.

Hawks favor higher rates, relative to doves, and less accommodation. As such, rates spiked this morning when the news hit, but never broke above yesterday’s…

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