Mortgage rates moved higher over the past 2 days, but managed to find their footing today. I'll be the last person to claim interest rates and stock prices must follow one another, but at times, their relationship is the most convenient way to understand the market. Stocks had been rising last week while rates were holding at the lowest levels since September 2017. More than anything, this reflected optimism on both sides of the market surrounding potential Fed rate cuts in 2019. Last Friday provided some important insight. The hotly-anticipated jobs report came out much weaker than expected. That's the sort of thing that would certainly make traders all the more likely to expect Fed rate cuts. Indeed that was the case, but trading levels suggested the bond market had already found its maximum

June 12, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 12, 2019 Mortgage Rates Find Some Support as Stocks Cool Off Wed, Jun 12, 2019 3:56PM Mortgage rates moved higher over the past 2 days, but managed to find their footing today. I'll be the last person to claim interest rates and stock prices must follow one another, but at times, their relationship is the most convenient way to understand the market. Stocks had been rising last week while rates were holding at the lowest levels since September 2017. More than anything, this reflected optimism on both sides of the market surrounding potential Fed rate cuts in 2019. Last Friday provided some important insight. The hotly-anticipated jobs report came out much weaker than expected. ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 UMBS 30YR 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Recap: Bonds Shake Off Panic, Helped by Weak Data and Strong Auctions Wed, Jun 12, 2019 4:28PM Yesterday morning saw bonds weaken enough to cause some small measure of panic among bond bulls.  Said bulls had been nodding their heads all last week as they were finally seeing yields that made sense in the context of long-lasting trade wars, tepid economic data, and little incentive on the part of the administration to make any market-saving gestu... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:02AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:02AM EST Other News Refi Demand Skyrockets 47% as Rates Slide Wed, Jun 12, 2019 8:08AM Mortgage applications soared during the week ended June 7 as interest rates declined further. While applications for home purchases were up, it was refinancing that again drove the overall numbers. The week ended May 31 was shortened by the holiday weekend and we have come to expect numbers both during and after those events to take on a life of their own. H... (read more) Credit Availability Rises for Fifth Consecutive Month Wed, Jun 12, 2019 8:13AM Mortgage access increased in May for the fifth consecutive month. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.9 percent to 189.5. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has two component indices, the G... (read more) Class Action Suit Against MLS and a Possible DOJ Investigation Tue, Jun 11, 2019 2:28PM The housing crisis put the spotlight, legal and otherwise, on the ways in which home purchases were financed. Financial difficulties weeded out many marginal players as well as unethical ones in the housing finance space, and new regulations, as well as lawsuits over previous methods of doing business, changed the industry dramatically. Now, attention has tu... (read more) MI, Broker, IO Products; A Wealth of Freddie and Fannie Updates Wed, Jun 12, 2019 8:45AM In the tech world, the question of, “What is real, and what isn’t?” is becoming more of problem to determine than ever before. The latest is in re-programming video and voices to make up whatever is said , just by typing it! Technology is a two-edged sword. What’s going on in the legal profession, technology-wise? “Time’s ... 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