30 Year Fixed
2.94%    +0.00
15 Year Fixed
2.64%    +0.00
10YR Treasury
0.68%    +0.0115
FNMA 30YR 3.5
105.16    -0.06
FNMA 15YR 2.5
105.19    -0.03
Mortgage Rates Staying Very Flat and Very Low
July 6, 2020

Mortgage rates barely budged for the third straight day, which is welcome news considering they are at all-time lows. The stability comes in spite of at least two important economic reports that would normally push rates unequivocally higher according to past precedent.  These include Thursday's big jobs report and a key barometer of the services sector released this morning.  Both pieces of data suggested an economic recovery is well underway.

Even though there is certainly a lot more ground to cover before anyone would consider the economy to be "mostly restored' to pre-COVID levels, financial markets are usually willing to reward progress toward such goals.  While one might be able to make the case that the stock market is doing just that, the bond market (which dictates interest rates) isn't playing by the normal rules.  There are several reasons for this, but the simplest one is that the jury is still out with respect to rising COVID statistics in several states.  

When it's clear that a majority of the economy is once again operating as it was before coronavirus (to whatever extent that's possible), or even when we're clearly headed in that direction, THAT'S when we're more likely to see the telltale effects on interest rates.  Until then, low rates and small day-to-day changes are the rules.

Loan Originator Perspective

Bonds slumbered Monday, posting small gains by PM trading. Pricing is as good as I've seen in 20 years, locking seems the prudent path for risk averse clients.   -Ted Rood, Mortgage Banker

30 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
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Ulises Escobar
Impress Realty
License:  1438419
Started in the mortgage industry in 1994; acquired my California Real Estate License in 1995 (CalBRE 01192787); in 2000 acquired my California Real Estate Broker's License (CalBRE 01192787). I have been in the business ever since! Worked in Sales ...view more
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Today's Rates
Best Execution
Rate Change
30 Yr FRM 2.94% +0.00
15 Yr FRM 2.64% +0.00
FHA 30 Year Fixed 2.50% +0.00
Jumbo 30 Year Fixed 3.95% +0.00
5/1 Yr ARM 2.88% -0.02
Average Mortgage Rates
Rate Points Change
15 Yr. Fixed 0.00% 0.00 +0.00
30 Yr. Fixed 0.00% 0.00 +0.00
MBA **
30 Yr. Fixed 3.29% 0.36 -0.01
15 Yr. Fixed 2.81% 0.40 +0.00
30 Yr. Jumbo 3.59% 0.31 -0.03
30 Yr. FHA 3.43% 0.36 +0.08
5/1 ARM 3.04% -0.03 -0.05
Freddie Mac **
30 Yr. Fixed 3.07% 0.80 -0.06
15 Yr. Fixed 2.56% 0.80 -0.03
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.00% 0.30 -0.08
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
Price Change
30YR UMBS 3.0 105.30 +0.02
30YR UMBS 3.5 105.16 -0.06
30YR GNMA 3.0 105.72 +0.03
30YR GNMA 3.5 105.38 +0.27
15YR FNMA 3.0 105.19 -0.03
15YR FNMA 2.5 104.89 +0.05
Yield Change
2 YR 0.1586% +0.0040
5 YR 0.3038% +0.0096
10 YR 0.6808% +0.0115
30 YR 1.4405% +0.0113
Prices as of: 7/6/2020 4:13PM EST
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:
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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available.  We use a proprietary formula to calculate averages based on best-execution rates from top lender's rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.