Mortgage rates dropped like a rock today . This has absolutely nothing to do with yesterday's Fed rate cut, a little to do with the market reaction to the verbiage in yesterday's Fed announcement, and a lot to do with today's new developments. Chinese officials were cited as questioning the viability of the much-touted trade deal overnight. The trade deal is important to financial markets because it's thought to be an easy way to increase global economic growth--something that is typically bad for rates. As such, the questioning of the deal was good for rates. On top of that, there was also an exceptionally weaker economic report out this morning--one that's often seen as a bit of an advance indicator of several other important reports coming out in the next 3 business days. The bond market

November 1, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Dropping Like a Rock Mortgage rates dropped like a rock today . This has absolutely nothing to do with yesterday's Fed rate cut, a little to do with the market reaction to the verbiage in yesterday's Fed announcement, and a lot to do with today's new developments. Chines... (read more) MBS Commentary MBS Live Day Ahead: NFP vs ISM Bonds rallied big yesterday on a combination of factors.  These included a rejection of the Trump administration's claimed timeline for the US/China trade deal with sources citing Chinese officials and a super weak reading on Chicago PMI.  ... (read more) Rob Chrisman Compliance, Construction, QC Products; 86% of Ginnie's Business is From Non-Banks? Welcome to “Bring Your Kid’s Candy to Work” Day, when candy bowls at receptionist’s desks and lunchrooms are brimming with treats worth a gander. What is also worth a gander, besides the Agencies announcing the threshold for s... (read more) Housing News Freddie's Forecast; Short and Sort of Sweet Freddie Mac's end-of-the-month forecast for October was exceptionally brief, perhaps in recognition that it has all been said before. The economy is strong but slowing, the labor market is tight and so is the housing inventory. Instead, Freddie's Eco... (read more) Housing News Here's Why Housing Agencies' Net Worth is Surging Both of the government sponsored enterprises (GSEs) posted strong earnings in the third quarter of the year. Freddie Mac announced comprehensive income of $1.8 billion while Fannie Mae's was $4.0 billion. Freddie Mac said its income was essentially u... (read more) Housing News Millennial Homeownership Inches Higher The Census Bureau reports that the homeownership rate, while up fractionally in the third quarter of this year compared to Quarter 2, was essentially unchanged from one year earlier. The Bureau's Vacancies and Homeownership Report put the national ra... (read more) Mortgage Rates Mortgage Rates Dropping Like a Rock 30 Yr. Fixed Rate 6.29% -0.16% Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% -0.16 0.00 15 Yr. Fixed 5.60% -0.21 0.00 30 Yr. FHA 5.95% -0.08 0.00 30 Yr. Jumbo 6.25% -0.15 0.00 7/6 SOFR ARM 5.59% -0.21 0.00 30 Yr. VA 5.97% -0.08 0.00 Updates Daily - Last Update: 9/5 15 Yr. Fixed Rate 5.60% -0.21% Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 MBS / Treasuries MBS Live Day Ahead: NFP vs ISM UMBS 30YR 5.5 101.13 +0.32 MBS Price Change UMBS 5.0 99.47 +0.46 UMBS 5.5 101.13 +0.32 UMBS 6.0 102.48 +0.16 GNMA 5.0 99.83 +0.48 GNMA 5.5 101.13 +0.25 GNMA 6.0 102.13 +0.03 Pricing as of: 9/7 6:41AM EST 10 Year US Treasury 4.0867 -0.0711 US Treasury Yield Change 2 YR Treasury 3.517 -0.072 5 YR Treasury 3.589 -0.055 7 YR Treasury 3.800 -0.061 10 YR Treasury 4.087 -0.071 30 YR Treasury 4.770 -0.090 Pricing as of: 9/7 6:41AM EST Latest Video China says a consensus on trade deal principles has been reached with the U... Fed's Clarida: Rate cut provides meaningful support to the economy ISM manufacturing misses expectations in October, 48.3 vs 49.1 expected Booth: "October 2018 there was 250,000 jobs created, we're cutting that in ... Around the Web Reuters After year-long bumpy ride, Fed appears to make soft landing NAHB Eye on Housing Private Residential Spending Rises in September CNBC China says it's reached a consensus in principle with the US during this week's trade talks Reuters Fed's Kaplan says he supported rate cut only if Fed signaled nothing further Reuters Clarida says U.S. economy, Fed policy 'in a good place' Reuters China may impose $3.58 billion in annual trade sanctions on U.S.: WTO panel Calculated Risk Blog Construction Spending Increased in October, Down 2.0% YoY Reuters Fed's Kaplan says policy is appropriate, should now be patient Reuters No talks have taken place on ousting Fed's Powell: White House adviser Reuters Fed's Clarida says the U.S. economy is in good place after rate cuts CNBC October's ISM manufacturing index is 48.3, a worse-than-expected contraction Reuters Treasury yields jump after better-than-expected jobs report Reuters Phase one trade deal with China is in good shape: U.S. Commerce chief

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