Mortgage rates moved lower for 3 days in a row as of yesterday afternoon. But that trend was likely to reverse based on the timing of yesterday's market movement. Specifically, the market was suggesting mortgage lenders should raise their rates, but not quite urgently enough (or early enough in the day) for lenders to pull the trigger at the time. As such, it was a strong possibility that we'd see lenders make those adjustments with today's first rate sheets. Things actually deteriorated a bit from there. Once again, bond markets were unable to maintain modest improvement from the overnight trading session. As bond prices move lower and yields move higher, lenders are increasingly forced to "reprice" their mortgage rate sheets (i.e. they change the rates they're offering in the middle of the

October 25, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Slightly Higher, As Expected Mortgage rates moved lower for 3 days in a row as of yesterday afternoon. But that trend was likely to reverse based on the timing of yesterday's market movement. Specifically, the market was suggesting mortgage lenders should raise their rates, but ... (read more) Rob Chrisman Non-QM, DPA, Broker Products; Correspondent and Wholesale Updates There are plenty of well-paid people in the mortgage biz. It is good to keep things in perspective: The U.S. median household income was $63,179 in 2018 according to U.S. Census Bureau. Sure, it is easy to become mired down in the statistics, but at ... (read more) Housing News Refis Make Another Strong Showing in September Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 10.7 percent in September, down from 12.9 percent the previous month. The portfolio balance at the end of the period was $2.295 trillion compared to $... (read more) Housing News Mortgage Turnover is 121 Percent Faster Year-Over-Year Homeowners continued to reduce and/or retire their mortgage debt at an accelerated clip in September according to Black Knight's "first look" at the month's loan performance data. The single month mortality (SMM) rate, an indication of early mortgage... (read more) Housing News New Home Sales Rise to Double Digit Annual Gain New home sales came in at a respectable seasonally adjusted annual rate of 701,000 in September, down only 0.7 percent from the revised rate of 706,000 in August. The August rate was originally estimated at 713,000. Sales of newly constructed homes a... (read more) MBS Commentary MBS Live Recap: Bonds Looking Nervous and Impressionable Let's face it.  It makes sense for the average bond trader to be more indecisive than normal right now.  A no-deal Brexit was avoided this week (bad for bonds), but a Brexit deal couldn't make it through British parliament in time to beat t... (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: 7/6 6:15AM 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: 7/6 6:15AM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web CNBC Federal deficit increases 26% to $984 billion for fiscal 2019 Calculated Risk Blog My Slide Deck: "2020 Economic Forecast featuring the UCI Paul Merage School of Business" Bloomberg Fed Seen Cutting Rates Next Week and Then Hitting Pause Button Calculated Risk Blog Q3 GDP Forecasts: Under 2.0% Bloomberg Fed's Easing Break, German Optimism, Draghi's Exit: Eco Day Reuters U.S. says close to finalizing parts of U.S.-China trade deal: CNBC Bloomberg Macron Blocked EU's Decision to Delay Brexit for Three Months Calculated Risk Blog Hotels: Occupancy Rate Decreased Year-over-year consumerfinancemonitor.com CFPB to hold Nov. 6 symposium on Dodd-Frank Section 1071 CNBC Consumer sentiment hits 95.5 in October, vs. estimate of 96 CNBC Big changes could be in store for student loan borrowers builderonline.com Mortgage Foreclosures at 15-Year Low consumerfinancemonitor.com NY federal district enters final judgment against OCC in NYDFS lawsuit challenging fintech charter

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