Daily Newsletter: Construction Down but Not Out; Apps Just Down; Rates Just Up

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30 Year Fixed 5.00%   +0.04 15 Year Fixed 4.48%   +0.04 10YR Treasury 3.21%   +0.0436 FNMA 30YR 3.5 97.47   -0.06 FNMA 15YR 2.5 98.13   -0.06 View Today's Rates

Wednesday October 17, 2018 Mortgage Rate Watch - 6:10PM Mortgage Rates Back up to Recent Highs Mortgage rates moved higher at a quicker pace today, following the release of the Minutes from the most recent Fed meeting. But correlation isn't necessarily causality in this case ... MND NewsWire - 10:05AM Housing Construction Down But Not Out All three reports on residential construction activity in September were disappointing, but no more so than any of the other housing data that speaks to the ongoing process of leveling ... MND NewsWire - 8:14AM Mortgage Apps Take a Nosedive, Rates on the Rise Mortgage applications were down last week by the largest seasonally adjusted percentage since September 2017 . The Mortgage Bankers Association (MBA) said its Market Composite Index ... MND NewsWire - 8:25AM MBA Forecast: Purchase Originations to Remain Healthy as Fed Hikes Rates Purchase mortgage originations are expected to increase a bit in 2019, but not by enough to offset the continuing decline in refinancing. A forecast from the Mortgage Bankers Association ... MBS RECAP: Fed Proves to be Mere Speedbump For Bond Sellers MBS Day Ahead: Fed Minutes Approach; and a Musical Guest! Self-Employed UW Products; Appraisal and Valuation Updates Latest Video Closing Bell Exchange: Fed minutes did have market impact More scared asset bubbles will create a rececssion rather than inflation, says strategist Redfin CEO on 'perfect storm' for housing market More News from 'Around the Web' Reuters - 4:27PM Fed downplays policy headaches from drop in bank reserves Federal Reserve - 2:12PM Minutes of the Federal Open Market Committee, September 25-26, 2018 Reuters - 2:12PM Every Fed policymaker was on board for September rate hike: minutes www.realtor.com - 1:32PM Big Jump in Americans Saying Renting Is Cheaper Than Owning CNBC - 11:50AM Ray Dalio: Cycles Repeat Themselves CNBC - 11:45AM Housing stocks get hit hard amid weak data and worries on Wall Street about rising interest rates Reuters - 10:16AM Wall St. dips at open; Fed minutes awaited CNBC - 10:15AM Here's how much money you have to make to afford an 'average' home in the hottest US cities Bloomberg - 8:03AM ECB Post, China's US Treasuries, Central Bank Watch: Eco Day CNBC - 8:03AM US Treasury yields move higher ahead of earnings, Fed minutes Reuters - 8:02AM Factbox: More than 163,000 U.S. customers without power after Hurricane Michael Today's Rates Best Execution Rate Change 30 Yr FRM 5.00% +0.04 15 Yr FRM 4.48% +0.04 FHA 30 Year Fixed 4.55% +0.05 Jumbo 30 Year Fixed 4.43% +0.03 5/1 Yr ARM 4.50% +0.03 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 4.15% 1.16 -0.02 30 Yr. Fixed 4.78% 1.15 +0.01 MBA ** 30 Yr. Fixed 4.96% 0.49 -0.01 15 Yr. Fixed 4.39% 0.50 +0.01 30 Yr. Jumbo 4.93% 0.31 +0.01 30 Yr. FHA 4.95% 0.80 +0.01 5/1 ARM 4.24% 0.48 +0.02 Freddie Mac ** 30 Yr. Fixed 4.90% 0.50 +0.19 15 Yr. Fixed 4.29% 0.50 +0.14 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 4.07% 0.30 +0.06 Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. Secondary Markets MBS Price Change 30YR FNMA 3.0 94.64 -0.09 30YR FNMA 3.5 97.47 -0.06 30YR GNMA 3.0 95.88 -0.13 30YR GNMA 3.5 98.38 -0.16 15YR FNMA 3.0 98.13 -0.06 15YR FNMA 2.5 95.73 -0.05 Treasuries Yield Change 2 YR 2.8947% +0.0250 5 YR 3.0615% +0.0379 10 YR 3.2069% +0.0436 30 YR 3.3748% +0.0401 Prices as of: 10/17/2018 6:01PM EST 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

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. © 2018 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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