Mortgage rates improved again today as the market continued to react to updates on the coronavirus outbreak. For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019. Even then, today's rates at least match Sept 2019's rates on average. In other words, today is tied for the lowest levels in more than 3 years. To reiterate yesterday's message: the persistent availability of such low rates depends on a few factors. The biggest among those at the moment is the evolution of the coronavirus outbreak. It's definitely been responsible for the quick bump toward this week's low levels, but the trade-off is that rates should experience quick upward pressure as soon as epidemiologists can confirm

January 30, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.00%   6.13% 7.26% 15 Yr. Fixed 5.89% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.27% +0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jan 30, 2020 Mortgage Rates Basically at Best Levels Since 2016 Thu, Jan 30, 2020 3:11PM Mortgage rates improved again today as the market continued to react to updates on the coronavirus outbreak. For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019. Even then, today's rates at least match Sept 2019's rates on average. In other words, today is tied for the lowest levels in more than 3 years. To reiterate yesterday's message: the persistent availability of such low rates depends on a few factors. The biggest among those at the moment is the evolution of the coronavirus ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% 0.00 0.00 15 Yr. Fixed 5.89% -0.01 0.00 30 Yr. FHA 6.05% -0.01 0.00 30 Yr. Jumbo 6.27% +0.01 0.00 7/6 SOFR ARM 5.82% +0.02 0.00 30 Yr. VA 6.08% +0.01 0.00 Updates Daily - Last Update: 9/24 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.34% -0.05 0.57 15 Yr. Fixed 5.70% +0.07 0.69 30 Yr. Jumbo 6.44% -0.04 0.34 Updates Weekly - Last Update: 9/24 UMBS 30YR 5.0 99.26 -0.19   95.05 100.29 UMBS 30YR 5.5 100.91 -0.13   97.47 101.40 10 YR Treasury 4.149 +0.046   3.736 4.780 MBS Live Recap: Powell Does No Harm (to Bonds) Wed, Jan 29, 2020 5:08PM It's fashionable to criticize Fed Chair Powell for negatively affecting the bond market during his customary press conference on Fed Announcement days, but you can mark today as the 10th announcement in a row where rates moved lower versus the previous session.  In my view, Powell's greatest gift today was to simply stand aside and let the market do w... (read more) MBS Price Change UMBS 4.5 97.14 -0.25 UMBS 5.0 99.26 -0.19 UMBS 5.5 100.91 -0.13 GNMA 4.5 97.17 -0.08 GNMA 5.0 99.53 -0.09 GNMA 5.5 100.78 -0.06 Pricing as of: 9/24 8:34PM EST US Treasury Yield Change 2 YR Treasury 3.604 +0.018 5 YR Treasury 3.717 +0.052 7 YR Treasury 3.908 +0.054 10 YR Treasury 4.152 +0.050 30 YR Treasury 4.752 +0.035 Pricing as of: 9/24 8:34PM EST Other News FHA Loans Becoming More Popular as Market Recovers Thu, Jan 30, 2020 12:05PM In the throes of the housing crisis, it sometimes seemed as though FHA was the only way to finance a home purchase , especially for those with less than stellar credit or unable to come up with a large downpayment. The government sponsored insurance program has always been, quite intentionally, a countercyclical lender and when money was flowing freely durin... (read more) 2019 Was a Great Year to Sell Your Home Thu, Jan 30, 2020 8:51AM Homeownership is apparently still one of the best ways to build wealth. The Year-End Home Sales Report from ATTOM Data Solutions shows that the typical homeowner who sold a home in 2019 realized a gain of $65,500. This is up from $58,100 in 2018 and $50,027 in 2017 and the largest profit margin since 2006. Todd Teta, ATTOM's chief product officer said, "The ... (read more) Pending Home Sales Erase More Than Half of 2019's Gains in a Single Report Wed, Jan 29, 2020 10:35AM December's pending home sales erased the small gain posted in November and the National Association of Realtors' (NAR's) Pending Home Sales Index (PHSI) ended the year exactly where it had begun. The PHSI is a forward-looking indicator of existing home sales based on purchase contracts signed during the month. It fell 4.9 percent in December, from 108.5 in N... (read more) Audit, AMC, Underwriting, and DPA Tools; Primer on Prepayments and EPOs Thu, Jan 30, 2020 9:00AM What if you bought into an investment thinking you were going to earn a decent return for 30 years and instead it paid off in four months? Not only that, but you paid 103 for it, only received 100 in four months, and now had to invest the money and earn a lower return? You wouldn’t like it. A year ago the industry was dealing with a price war among the... (read more) Latest Video Coronavirus declared public health emergency by World Health Organization First US case of human-to-human coronavirus transmission: CDC Wells Fargo chief economist says he expects subpar GDP growth in 2020 Fed's Powell: Some uncertainities around trade have diminished Around the Web NPR FICO Is About To Change Credit Scores. Should You Worry? CNBC WHO declares China coronavirus that's killed 171 a global health emergency NAHB Eye on Housing Homeownership Rate Reaches Six-Year High Calculated Risk Blog Q4 GDP: Investment Reuters Stocks, oil tumble on fears virus to hurt China's economy CNBC Economic growth looks even weaker this quarter, with virus now a wild card Calculated Risk Blog HVS: Q4 2019 Homeownership and Vacancy Rates Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 216,000 CNBC US GDP rose 2.1% in the fourth quarter, as expected Reuters Coronavirus outbreak poses risk to U.S. Fed's economic outlook Reuters What's next for the Federal Reserve's balance sheet? Calculated Risk Blog Zillow Case-Shiller Forecast: House Price Gains "Primed for an Upswing" Reuters Fed keeps interest rates steady, offers no new balance sheet guidance

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