Rates Slightly Lower to End 2016; United Shore Settlement

Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8th was the last time rates were lower. As of yesterday, 4.25% regained the status of the "most prevalent" conventional 30yr fixed quote on top tier scenarios. Quite a few lenders remain at 4.375% and a scant few are down to 4.125%. While this is all good news in the context of the past few weeks, 2016 nonetheless ends with one of the worst 2-month losing streaks in the history of mortgage rates. Specifically, the 5 weeks following the election were the worst 5 weeks on record, going back to the Spring of 1987. For anyone considering locking or floating into the 3-day weekend (markets and mortgage lenders are closed on Monday, by the way), it's

from
http://www.mortgagenewsdaily.com/reports/newsletter/2016/12/30/2566

Most Markets Back to Historical Norms; Rates Set to End Year With Glimmer of Hope; PHH Servicing Sale

Mortgage rates moved lower today , somewhat significantly, depending on the lender. In many cases, quotes are an eighth of a point lower compared to Tuesday morning. Some lenders made the move yesterday. For others, today did the trick. In both cases, the "effective rate" (a hypothetical rate that accounts for lender-imposed closing costs) fell at its best pace in weeks. Today's quotes are the best since December 12th on average. 4.25% is now the most prevalent conventional 30yr fixed quote on top tier scenarios, although 4.375% remains fairly common. While I would love to tell you that this is a sign of a big shift back in a friendly direction, the gains are largely a result of the year-end bond trading environment. It's not the same bond market that's normally pulling the levers behind the

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/12/29/2564

Rates Already Near 4.5%; Builder Confidence Soars; Definitive Analysis on "Death of a Trend"

Don't believe anything you read about mortgage rates today... well, except this . In fact, you're welcome to believe anything you read as long as it acknowledges the fact that rates have risen nearly a quarter of a point from last week, pushing them well into the highest levels in more than 2 years . The average top tier conventional 30yr fixed rate is quickly approaching 4.5%. Nearly every lender that was at 4.125% last week is now at 4.375%. Lenders who were at 4.25% last week are mostly up to 4.5%. The overall spike in rates since the election is now on par with the 2013 taper tantrum. You'll hear time and again "don't worry... rates are historically low..." and my personal favorite "for every .125% in rate, the payment only rises $7 per $100k borrowed." All of that is true, except perhaps

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/12/15/2542