Mortgage rates finally fell today after remaining flat for the last 3 business days. There are a few possible explanations for the friendly move, but the easiest to see and discuss is the weakness in the stock market. If you read my commentary somewhat regularly, you'll know that I'm no great fan of using the "stocks vs bonds" explanation for rate movement (bonds = rates), but in today's case, weakness in stocks was clearly correlated with strength in bonds (stronger bonds = lower rates). Much of this weakness surrounded trade-related headlines, however, so it's just as fair to say that bonds were reacting to trade war news. Either way, the lion's share of the reaction was reserved for mainstream bonds like US Treasuries. MBS (the mortgage-backed-securities that underlie mortgage rates) didn

June 27, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Finally Make a (Small) Move Mortgage rates finally fell today after remaining flat for the last 3 business days. There are a few possible explanations for the friendly move, but the easiest to see and discuss is the weakness in the stock market. If you read my commentary somewh... (read more) Housing News Pending Home Sales Fall Behind 2017 Levels for Fifth Month The number of new contracts for existing home sales barely made it onto the bottom rung of analysts' expectations in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) was down from the April reading of 106.... (read more) Rob Chrisman Non-QM and Investment Property Products; Lender and Bank Mergers Today is the last day for the Supreme Court session, and the rumor is that Justice Anthony Kennedy will soon announce his retirement from the $250k/year position. For lenders, the rumor mill and exaggeration also continue to churn. One low-producing ... (read more) MBS Commentary MBS Live Day Ahead: Lessons From Arthur Lemming, British Dental Association Monty Python isn't for everyone, but the old TV series is chock full of life lessons and random knowledge that really helps round out one's trivia prowess.  In one sketch, Eric Idle is Arthur Lemming, a special investigator for the British Denta... (read more) Housing News Freddie Mac's Investment Portfolio Posts Second Gain of 2018 Freddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 6.3 percent in May. The portfolio balance at the end of the period was $2.123 trillion compared to $2.112 trillion at the end of April and $2.033 trillion... (read more) MBS Commentary MBS Live Recap: 2nd Best Day in More Than 2 Months The last time trading levels in bond markets were this strong at the close of business, it was on the most dire day of the Italian political drama--the one that caused 10yr yields to drop all the way into the 2.7's .  The last time before that ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/4 1:20PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/4 1:20PM EST Latest Video Existing home sales slip due to affordability crisis White House softens tone on trade with China Santelli Exchange: Negotiator-in-chief Around the Web CNBC Fed's Bullard warns there's a risk the Fed is raising rates 'too fast' NAR - Realtor.com U.S. Rental Rates Flatten in Major Cities as Supply Floods Market CNBC Bank mailings surge more than 40% as lenders pull out all the stops to get people to borrow more Calculated Risk Blog Reis: Apartment Vacancy Rate increased in Q2 to 4.8% Bloomberg Buy Treasuries on Trade War, Sell Aussie, $74 Billion Fund Says CNBC New orders for key US-made capital goods and shipments fell unexpectedly in May CNBC Treasury Secretary Mnuchin says he's expecting a 'big' GDP number Bloomberg Trump Decides Against Harshest Measures on China Investments Freddie Mac Freddie Mac Issues Monthly Volume Summary for May 2018 NPR Tell Us: Are You Having Trouble Finding A Home To Buy? Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in April CNBC This map shows where Americans have the highest, and lowest, credit scores Reuters U.S. consumer confidence slips, house price gains slow

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