Mortgage rates have generally been moving sideways for the past 2 weeks. This has accomplished a twofold goal of coming to terms with the strong gains seen in May as well as preparing for tomorrow's hotly-anticipated announcement from the Fed. It has been and continues to be the case that any major surprises (or even minor surprises) from the Fed could have big, immediate effects on rates for better or worse. But just as the sideways momentum was about to lull us to sleep this week, central bank news from across the Atlantic stepped up to change the field of play today. European Central Bank (ECB) President Mario Draghi delivered a speech this morning in which he laid out the likelihood of additional stimulus measures including rate cuts deeper into negative territory. European bond markets

June 18, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Enjoy Surprise Drop Ahead of Fed Day Mortgage rates have generally been moving sideways for the past 2 weeks. This has accomplished a twofold goal of coming to terms with the strong gains seen in May as well as preparing for tomorrow's hotly-anticipated announcement from the Fed. It has... (read more) MBS Commentary MBS Live Day Ahead: Unexpected Headlines Result in Bond Market "Lead-Off" In the day just past, bonds did absolutely nothing new or interesting.  Yields continued to trade in a narrow, sideways range--one that has persisted for more than 2 weeks.  The ostensible catalyst for a breakout was (and still IS, in some ... (read more) Housing News Construction Numbers Better Than Percentages Indicate Residential construction figures had been expected to, at a minimum, hold the fort in May after a mixed report in April. While revisions to the April report somewhat skewed the numbers changes to both permits and starts were only fractional. The Cens... (read more) Rob Chrisman Digital, Marketing, Training Products; Upcoming Teaching Events With the backdrop of a global bond market rally today, let’s look back at Randy Newman singing, “It's money that matters, hear what I say. It's money that matters, in the USA.” What does $5.6 million buy you these days? A road-gray ... (read more) Housing News Gloomier Economic Outlook Brightens Housing Outlook Freddie Mac's forecast for June sees more dark clouds than usual , but few of those are on the housing front. The company's Economic and Housing Research Group notes that some of those gathering clouds, concerns about global growth and the lingering ... (read more) Housing News May Uptick in Builder Confidence Proves Fleeting The National Association of Home Builders' (NAHB's) measure of builder confidence broke out of its multi-month slump in May, rising 3 points. Much of that gain was reversed this month as the NAHB/Wells Fargo Housing Market Index (HMI) dropped by 2 po... (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 7:14PM 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 7:14PM 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 Bloomberg Draghi Blames Prolonged Uncertainty for ECB Risks Materializing Calculated Risk Blog Phoenix Real Estate in May: Sales up 4% YoY, Active Inventory up 3% YoY Reuters White House considered demoting Fed's Powell -report Reuters For Fed's Powell, a gap with markets and Trump may need explaining CNBC Google to invest $1 billion in San Francisco Bay Area housing amid regional expansion CNBC Kudlow says the White House is not considering demoting Fed Chair Powell CNBC ECB's Draghi hits back at Trump: 'We don't target the exchange rate' Bloomberg Markets Say U.S. Doesn't Need China"or Fed"to Buy Its Debt Bloomberg Bond Investors Dust Off Crisis Playbook, Fire Up Best QE Trades Reuters 'Super Mario' shock: euro slides, yields hit new lows CNBC US Treasury yields tick lower as investors await Federal Reserve meeting Reuters Global stocks, yields dip with Fed meeting on tap CNBC Worker confidence in finding a new job has hit a six-year high, but it might be a 'turning point'

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