Mortgage rates spent a 2nd day with the average lender holding relatively steady . This follows a decent winning streak over the previous week and a half with the net effect being at least an eighth of a percent (.125%) improvement on the average conventional 30yr fixed quote. Holding steady was a bit anticlimactic yesterday because the broader bond market (specifically, the benchmark US 10yr Treasury yield) indicated more improvement than we actually saw. That had a lot to do with the underperformance of bonds that specifically underlie mortgages (MBS or "mortgage-backed securities). But whereas MBS lagged Treasuries yesterday, they outperformed today, thus allowing lenders to keep rates unchanged even as 10yr yields moved moderately higher. Day-to-day volatility aside, the bigger picture

November 21, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Nov 21, 2019 Mortgage Rates Steady Despite Bond Market Weakness Thu, Nov 21, 2019 4:18PM Mortgage rates spent a 2nd day with the average lender holding relatively steady . This follows a decent winning streak over the previous week and a half with the net effect being at least an eighth of a percent (.125%) improvement on the average conventional 30yr fixed quote. Holding steady was a bit anticlimactic yesterday because the broader bond market (specifically, the benchmark US 10yr Treasury yield) indicated more improvement than we actually saw. That had a lot to do with the underperformance of bonds that specifically underlie mortgages (MBS or "mortgage-backed securities). But wher... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.56 +0.10   95.05 100.11 UMBS 30YR 5.5 101.06 +0.06   97.47 101.40 10 YR Treasury 4.090 -0.019   3.932 4.780 MBS Live Recap: Data Underwhelms; Rally Fades Thu, Nov 21, 2019 4:40PM Today brought one of the week's only potentially important economic reports in the form of the Philly Fed Index, but it fell on deaf ears.  Notably, the headline and the internal components were at odds.  At first glance, that might help us justify the lack of movement at 8:30am ET, but a closer look reveals that volume was completely dead at the... (read more) MBS Price Change UMBS 4.5 97.52 +0.11 UMBS 5.0 99.57 +0.12 UMBS 5.5 101.08 +0.08 GNMA 4.5 97.52 +0.01 GNMA 5.0 99.79 +0.14 GNMA 5.5 100.87 +0.07 Pricing as of: 11/4 2:37AM EST US Treasury Yield Change 2 YR Treasury 3.586 -0.023 5 YR Treasury 3.698 -0.026 7 YR Treasury 3.880 -0.025 10 YR Treasury 4.088 -0.021 30 YR Treasury 4.670 -0.024 Pricing as of: 11/4 2:37AM EST Other News Existing Home Sales Resume Gains, Realtors Say More to Come Thu, Nov 21, 2019 11:24AM Existing-home sales got back on track in October, partially recovering from a 2.2 percent slip in September that ended a two-month winning streak. The National Association of Realtors® (NAR) said previously owned single-family houses, townhouses, condos, and cooperative apartments sold at a seasonally adjusted annual rate of 5.46 million during the month... (read more) October Refi Share Highest in Four Years Thu, Nov 21, 2019 10:50AM The boom continued in October as more than half of the loans closed during the month were for refinancing . According to Ellie Mae's Origination Insight Report, those loans accounted for 51 percent of the total originated on its system, the highest percentage since March 2015. The share was 2 percentage points higher than in September. The average note rate ... (read more) The Death of The Mortgage Broker Has Been Greatly Exaggerated Wed, Nov 20, 2019 10:48AM Mortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for CoreLogic. She writes in the company's blog that brokers' share of the conventional conforming mortgage market hit 16 percent earlier this year. While this is only half its share before the housi... (read more) Broker, U/W, Sales, Leads, Workflow Tools; Upcoming Events and Training Thu, Nov 21, 2019 9:05AM Government shutdown worries, the impeachment hearings, the trade war, video of a bear stuck in a car near Lake Tahoe … Is there anything good happening out there? For one, my cat Myrtle seemed tickled pink when I told her that we had earned a mention in the most recent J.D. Power “Top 100 Daily Mortgage Commentaries That Mention Cats.” Eit... (read more) Latest Video Zillow CEO says its home-flipping business is not the end of its expansion ... Cashin: A China deal could bring about a 1,000-point rally October existing home sales in line with expectations Initial jobless claims unchanged at a five-month high of 227,000 Around the Web Reuters Wall Street muted on doubts over progress in U.S.-China trade deal CNBC Here's why recent bond ETF outflows aren't as dire as investors think Calculated Risk Blog Comments on October Existing Home Sales Calculated Risk Blog Philly Fed Manufacturing shows "Overall Growth in November" NAHB Eye on Housing New Single-Family Home Size Trending Lower Reuters Cleveland Fed's Mester urges regulators to become more agile on cybersecurity risks CNBC US weekly jobless claims unchanged at five-month high Redfin Millennials Still Want Single-Family Homes, Even if it Means a Long Commute scmp.com US, China on doorstep' of trade war deal, but phase one' tariff removal holding up talks, sources say Bloomberg The Fed's Torn Over Options to Control Its Benchmark Policy Rate Calculated Risk Blog CAR on California October Housing: Sales up 1.9% YoY, Inventory down 18% Reuters Wall Street drops on trade deal delay concerns Reuters Fed minutes show rates on hold; not clear what would change that

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