Mortgage application volume was lower over the last week, continuing the up-one-week, down-the-next pattern it has displayed since late June. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume, dropped 3.9 percent on a seasonally adjusted basis during the week ended August 13 and was 4 percent lower on an unadjusted basis. Most of the downturn was on the refinancing side of originations. The Refinance Index decreased 5 percent from the previous week and was 8 percent lower than the same week one year ago. The refinance share of mortgage activity accounted to 67.3 percent of total applications, down from 68.0 percent the previous week. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier and 2 percent

August 19, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Aug 19, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.70 +0.12   95.05 100.47 UMBS 30YR 5.5 101.15 +0.12   97.47 101.61 10 YR Treasury 4.068 -0.013   3.706 4.780 MBS Price Change UMBS 4.5 97.71 +0.08 UMBS 5.0 99.70 +0.11 UMBS 5.5 101.15 +0.11 GNMA 4.5 98.10 +0.08 GNMA 5.0 99.99 +0.17 GNMA 5.5 101.01 +0.13 Pricing as of: 9/18 12:12AM EST US Treasury Yield Change 2 YR Treasury 3.538 -0.025 5 YR Treasury 3.635 -0.021 7 YR Treasury 3.819 -0.020 10 YR Treasury 4.068 -0.013 30 YR Treasury 4.672 -0.016 Pricing as of: 9/18 12:12AM EST Other News Mortgage Applications Indicate Shift Toward First-Time Buyers Wed, Aug 18, 2021 8:09AM Mortgage application volume was lower over the last week, continuing the up-one-week, down-the-next pattern it has displayed since late June. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume, dropped 3.9 percent on a seasonally adjusted basis during the week ended August 13 and was 4 percen... (read more) Mixed Messages in New Home Purchase Application Data Tue, Aug 17, 2021 3:34PM Mortgage applications for the purchase of newly built homes fell sharply in July, but the Mortgage Bankers Association (MBA) said it expects new home sales for the month will remain strong. MBA's Builder Application Survey (BAS) recorded a 27.4 percent decline in applications compared to July 2020 data. Applications were down 4 percent from June 2021. The nu... (read more) CU, MLO, U/W Jobs; Margin Tracking, Pooling, Digital, Title Products; Fed's Asset Purchase Shift? Thu, Aug 19, 2021 11:02AM So you say that you never learn anything by reading this Commentary? How about Wile E. Coyote's middle name? His first name is an obvious pun on the word "wily." His middle initial, "E", is said to stand for "Ethelbert" in one issue of Looney Tunes & Merrie . And say what you want about California’s political and tax climate, “Cali” sti... (read more) Latest Video The 2pm Bond Report - August 19, 2021 Are the markets in a bubble? The 9am Bond Report - August 19, 2021 Weekly initial jobless claims come in at 348,000 vs. 365,000 estimate Around the Web Calculated Risk Blog Phoenix Real Estate in July: Sales Down 15% YoY, Active Inventory Down 16% YoY Calculated Risk Blog MBA: "Mortgage Delinquencies Decrease in the Second Quarter of 2021" CNBC Jobless claims hit new pandemic-era low in a sign of hope for the employment picture Redfin July Marked 12 Straight Months of Double-Digit Price Increases Zillow Rent Prices Soar Beyond Pre-Pandemic Projections (July 2021 Market Report) CNBC Treasury yields fall despite Fed taper talk Calculated Risk Blog Lawler: Early Read on Existing Home Sales in July Reuters Fed minutes show split over jobs, bond-buying taper CNBC Federal Reserve preparing for taper this year, July minutes show Redfin Housing Market Update: 5% of Home Sellers Dropped Their Price in Recent Weeks Calculated Risk Blog AIA: "Demand for design activity continues to expand" in July CNBC Tiny homes can mean big costs, especially depending on where you live Calculated Risk Blog Comments on July Housing Starts

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