Mortgage rates hit the lowest levels in more than a month yesterday and came very close to the lowest levels in more than a year. Things changed today , but only slightly. Without a fresh supply of drama or weaker economic data, the bond market deteriorated. Bonds typically benefit when investors are seeking safe havens in response to economic risks. This pushes bond prices higher and yields (aka "rates") lower. Whereas there were concerns about Italian budget news and a weaker reading on Retail Sales yesterday, today brought stronger economic data across the board. Bonds reacted by weakening (i.e. moving higher in yield/rate) and that was basically that. If there's a saving grace for the bond/rate market is that the weakness found a limit fairly quickly and rates were only modestly higher

May 16, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Ebb Higher, But Only Slightly Mortgage rates hit the lowest levels in more than a month yesterday and came very close to the lowest levels in more than a year. Things changed today , but only slightly. Without a fresh supply of drama or weaker economic data, the bond market deter... (read more) Housing News MBA Betting on New Home Sales Surge Applications for new home purchases jumped 15.6 percent in April compared to a year ago and were 3.0 percent higher than in March. The Mortgage Bankers Association said these non-seasonally adjusted numbers indicate there will be a strong increase in... (read more) MBS Commentary MBS Live Day Ahead: Bond Sellers Waiting For The All Clear In the day just past, bonds rallied profusely on news that Italy would defy EU budget rules in laying out expenditures to stimulate its economy, thus introducing systemic risk to the Euro currency which, in turn, benefits core bond markets like Germa... (read more) Rob Chrisman HELOC, Closing Cost, Loan Trading Products; Tech Survey Lender Products and Services My AMC, LLC is pleased to announce the hiring of Carolyn Covington as Sales Account Executive working in the Dallas, TX office to collaborate with My AMC’s nationwide customer base. “I accepted the position be... (read more) Housing News Permitting and Housing Starts are Finally Gaining Ground There was a small gain in residential construction permitting in April while housing starts rose strongly , both reversing their unexpected declines in March. Neither however has yet caught up with their year earlier numbers. The U.S. Census Bureau a... (read more) Housing News Builders See Market Improvements New home builders finally got a little wind under their wings this month. The National Association of Home Builders (NAHB) said its NAHB/Wells Fargo Housing Market Index (HMI), a measure of builder confidence in the new home market, finally broke out... (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 7:22PM 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 7:22PM 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 Reuters With inflation elusive, two Fed policymakers lay out a welcome mat Calculated Risk Blog CAR: "California home sales stumble into spring home buying season" Reuters Fed may not be able to engineer higher inflation: Kashkari Reuters U.S. President Trump took out new 30-year mortgage in 2018 worth over $5 million CNBC Taylor Morrison CEO on homebuilding at end of 2018: "It was that bad." NAHB Eye on Housing Townhouse Construction Slows at Start of 2019 CNBC Fed's Neel Kashkari says rate hikes 'were not called for' and that policy has been 'too tight' CNBC Incoming wave of millennial home buyers is a major opportunity for US housing market, says Taylor Morrison CEO Bloomberg Bond Traders Need to Up Their Game as AI Systems Get Smarter Calculated Risk Blog Philly Fed Mfg "Current Indicators Suggest Continued Growth" in May CNBC US weekly jobless claims fall more than expected CNBC China has cut its holdings of US debt to the lowest level in two years amid trade tensions CNBC Some contrarians predict Trump's tariffs could trigger the very sort of interest rates he can't stand

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