Mortgage rates were mixed today, with some lenders holding steady while others offered mid-day improvements in response to strong performance in the bond market. In either case, today's loan quotes are likely to be as good as they've been since the first few weeks in 2018. But are they under 4.00%? That's the claim being made by more than a few news stories out there. Let's take a look at the underlying facts. First off, any time you see consensus among mortgage rate headlines on a Thursday morning, chances are the story is citing Freddie Mac's weekly mortgage rate survey. Today's survey has the average 30yr fixed quote dropping to 3.99% for the first time since (you guessed it) the first few weeks of 2018. But that doesn't mean anyone can go down to the corner store and pick up a 3.99% mortgage

May 30, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Are Mortgage Rates Really Under 4.00%? Yes and No Mortgage rates were mixed today, with some lenders holding steady while others offered mid-day improvements in response to strong performance in the bond market. In either case, today's loan quotes are likely to be as good as they've been since the f... (read more) MBS Commentary MBS Live Day Ahead: Trading Patterns a Bigger Story Than The Data In the day just past, bonds started out in stronger territory only to lose ground by the closing bell.  This wasn't necessarily destined to be the case, but a rather weak 7yr Treasury auction suggested that the recently bottomless demand for Tre... (read more) Housing News Pending Home Sales Fall, But Still Holding Most of 2019's Gains April's pending home sales had been expected to build on the gains posted in two of the three previous months, but they retreated instead. The National Association of Realtors® (NAR) said its Pending Home Sale Index (PHSI), a measure of newly sig... (read more) Rob Chrisman Broker, Digital, Customer Retention Products; FHA, VA, Ginnie Changes My cat Myrtle’s direct exposure to the falling stock market is minimal. Mine, however, has become a sense of concern as I watch the value of my holdings get clocked, reminding me of the proverbial question lenders debate: would they rather have... (read more) Housing News Lending is Disadvantaging its Own Future "The face of America is changing, and the housing market is changing along with it. If the mortgage market doesn't keep up, the nation's economy will bear the consequences." That flat statement introduces an article by three housing experts that appe... (read more) Housing News Mortgage Application Volume Takes Back Some of May's Gains Mortgage application volume declined during the week ended May 24, more than reversing a 2.4 percent increase a week earlier. Both refinancing and purchase activity moved lower. The Mortgage Bankers Association said its Market Composite Index which t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.85% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.85% +0.02 0.00 15 Yr. Fixed 6.07% +0.04 0.00 30 Yr. FHA 6.40% +0.03 0.00 30 Yr. Jumbo 6.92% +0.02 0.00 7/6 SOFR ARM 6.25% -0.02 0.00 30 Yr. VA 6.41% +0.02 0.00 Updates Daily - Last Update: 7/15 15 Yr. Fixed Rate 6.07% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 98.95 -0.21 Price / Yield Change MBS UMBS 5.5 98.91 -0.25 UMBS 6.0 100.95 -0.17 GNMA 5.5 99.34 -0.20 GNMA 6.0 101.14 -0.07 Pricing as of: 7/15 5:35PM EST 10 Year US Treasury 4.4833 +0.0480 Price / Yield Change US Treasury 2 YR Treasury 3.955 +0.045 5 YR Treasury 4.050 +0.060 7 YR Treasury 4.258 +0.063 10 YR Treasury 4.489 +0.054 30 YR Treasury 5.019 +0.040 Pricing as of: 7/15 5:35PM 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 Wall St. slump continues on U.S.-China trade uncertainty Reuters U.S. inflation much softer in first quarter; puts spotlight on Fed Calculated Risk Blog Merrill on May NFP: "A modest slowing in employment activity" NAR - Realtor.com Mortgage Rates Slide Below 4% as the Trade War Buffets Markets CNBC Fed's Clarida outlines conditions that would be needed for a change in rates Bloomberg A $4 Trillion Plan Could Make or Break Dreams of U.S. Homebuyers Bloomberg China Pulls Punches With Trump to Defend a Path for Trade Talks Calculated Risk Blog Weekly Initial Unemployment Claims Increase to 215,000 CNBC Second reading on first-quarter GDP is up 3.1%, vs 3.0% growth expected builderonline.com Home Prices Higher in Portland As Growth Slows in the West CNBC US Treasury yields tick higher amid recession fears Bloomberg Falling Rates a Reason to Sell for Recession-Wary Stock Traders - Bloomberg Calculated Risk Blog Zillow Case-Shiller Forecast: Slower YoY Price Gains in April

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