Mortgage application volume declined again last week , dragged down by flagging refinance activity. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, decreased 2.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index was down by 3 percent. The Refinance Index decreased 4 percent from the previous week and was 2 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 66.8 percent of total applications from 67.3 percent the previous week. The seasonally adjusted Purchase Index gained 1 percent on the prior week but fell 2 percent on an unadjusted basis. It was 16 percent lower than the same week in 2020. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed

September 1, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Sep 1, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 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 5.5 101.28 -0.01   97.47 101.61 UMBS 30YR 6.0 102.45 0.00   99.66 102.50 10 YR Treasury 4.039 -0.001   3.621 4.780 MBS Price Change UMBS 5.0 99.91 -0.01 UMBS 5.5 101.28 -0.01 UMBS 6.0 102.45 0.00 GNMA 5.0 100.21 -0.03 GNMA 5.5 101.25 +0.02 GNMA 6.0 102.01 +0.03 Pricing as of: 9/16 12:15AM EST US Treasury Yield Change 2 YR Treasury 3.538 +0.001 5 YR Treasury 3.606 +0.006 7 YR Treasury 3.788 -0.003 10 YR Treasury 4.038 -0.003 30 YR Treasury 4.658 -0.002 Pricing as of: 9/16 12:15AM EST Other News Decline in Refis Pulls Mortgage Application Volume Lower Wed, Sep 1, 2021 11:04AM Mortgage application volume declined again last week , dragged down by flagging refinance activity. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, decreased 2.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index was down by 3 percent. The Refinance Index decreased... (read more) Freddie Mac's Purchase Volumes Eroded in July Wed, Sep 1, 2021 11:05AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 8.4 percent in July compared to a 12.9 percent gain in June. The portfolio balance at the end of the period was $3.033 trillion compared to $3.021 trillion the prior month and $2.518 trillion a year earlier. Purchases and Issuances totaled $85.899 billion, and... (read more) MI, MLO, Multi-family Jobs; HELOC, Non-QM, Sales, Compliance Products; Agency News Wed, Sep 1, 2021 11:12AM Overheard recently: “I just want a man who will make me laugh as we count his family’s money on his rock-hard abs.” Lenders are doing okay, money-wise, as we put another month under our belt. It wasn’t a particularly good month from the perspective of COVID, Afghanistan, hurricanes, or wildfires here’s a driver’s view ). B... (read more) Latest Video Delta poses a downside job risk The 2pm Bond Report - September 1, 2021 The 9am Bond Report - September 1, 2021 Markit manufacturing PMI comes in at 61.1 vs. 61.2 estimate Around the Web Redfin Housing Market Update: 9% Increase in Pending Home Sales is Slowest Growth Since June 2020 Calculated Risk Blog Zillow Case-Shiller House Price Forecast: 20%+ Year-over-year in July CNBC Private payrolls increase by just 374,000 in August, far short of the 600,000 estimate, ADP says CNBC Treasury yields climb ahead of ADP employment report Reuters White House tackles housing shortage with plan for 100,000 affordable homes CNBC There are mounting risks that make September a potentially hazardous time for stocks Reuters U.S. consumer confidence falls to 6-month low; house prices post record gains Calculated Risk Blog Reis: Office and Mall Vacancy Rates Increased in Q2 CNBC Treasury yields edge higher as jobs data remains in focus CNBC European markets turn lower after data shows surprise surge in inflation CNBC Euro zone inflation hits 10-year high ahead of key central bank meeting Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Remains Unchanged at 3.25%" CNBC The national eviction ban is over. But renters still can't be forced out in these states

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