Builder Confidence Ebbs; Rates Still Near 2017 Lows; CFPB Invites Comments; Trend is Our Friend For Now

For the third day in a row, mortgage rates set new 2017 lows this morning. But as bond markets weakened into the afternoon, several lenders recalled rate sheets for "negative reprices." This brought the afternoon's rate sheet offerings back in line with those seen on Thursday afternoon. Although that's slightly worse than this morning, rates are still effectively at 2017 lows. The average lender continues to quote 4.0% on top tier conventional 30yr fixed scenarios. Any changes from Thursday would be seen in the form of slightly higher upfront costs. Many borrowers will see no difference. While there were several economic reports today, investors remain more interested in geopolitical developments, stock prices, and currency fluctuations. Indeed, today's bounce in rates coincided with a bounced

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http://www.mortgagenewsdaily.com/reports/newsletter/2017/4/17/2744