Mortgage rates barely budged today, with the average lender offering almost the exact same terms as yesterday. That took some doing in the form of strength in the underlying bond market. As of yesterday afternoon, bonds were at their weakest levels of the day, thus implying today's rates would be higher unless overnight market movement was much friendlier. That's exactly what happened thanks to extremely weak economic data in Europe. Economic weakness promotes strength in the bond market, which in turn pushes rates lower . Naturally, European data had the biggest benefit for European bonds, but there tends to be some spill-over between the world's biggest bond markets. In today's case, the benefit to the US bond market was big enough to erase yesterday afternoon's weakness, thus preventing

July 24, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jul 24, 2019 Mortgage Rates Unchanged Again, But That's Less Likely Tomorrow Wed, Jul 24, 2019 3:13PM Mortgage rates barely budged today, with the average lender offering almost the exact same terms as yesterday. That took some doing in the form of strength in the underlying bond market. As of yesterday afternoon, bonds were at their weakest levels of the day, thus implying today's rates would be higher unless overnight market movement was much friendlier. That's exactly what happened thanks to extremely weak economic data in Europe. Economic weakness promotes strength in the bond market, which in turn pushes rates lower . Naturally, European data had the biggest benefit for European bonds, bu... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Recap: Deceptively Calm Before The Storm Wed, Jul 24, 2019 3:53PM A storm of potential inspiration is brewing for the bond market.  Over the next 5 trading days we'll get announcements from the 2 biggest central banks (ECB and The Fed), Durable Goods, the first reading of Q2 GDP, PCE inflation, Chicago PMI, and ADP Employment.  At first glance, all of the above builds to a crescendo with next Wednesday afternoon'... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 11:10PM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 11:10PM EST Other News New Home Sales in West Bounce Back, Carry National Numbers Higher Wed, Jul 24, 2019 11:29AM New home sales bounced back in June from two prior reports of very weak sales . The U.S. Census Bureau and the Department of Housing and Urban Development said those sales were at a seasonally adjusted annual rate of 646,000 units, a 7.0 percent gain from the downwardly revised May rate of 604,000. June sales were also higher on a year-over-year basis, up 4.... (read more) Rate Excitement Wears Down, Mortgage Applications Decline Wed, Jul 24, 2019 8:07AM It was another mediocre week for mortgage applications. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan applications volume, was down 1.9 percent on a seasonally adjusted basis during the week ended July 19, its fourth consecutive loss. The Index was also lower than the previous week on an unadjusted basis, ... (read more) Existing Home Sales Fail to Build on May Gains Tue, Jul 23, 2019 11:17AM Existing home sales are persistent in their inability to maintain a steady course from month to month. Despite low interest rates and hopes for a strong spring market, those sales were down 1.7 percent in June. Sales the prior month had posted a 2.5 percent increase, breaking out of a two-month slump. The National Association of Realtors® (NAR) said sale... (read more) LOS, Customer Retention Products; Events and Training; Amazon's Partnership Wed, Jul 24, 2019 9:00AM Today, in Utah, it is either Pie & Beer Day, or Pioneer Day, I can never remember which. Words are funny things. How about “partners,” as in Amazon’s new TurnKey program which partners with Realogy Holdings Corp. (Better Homes and Gardens Real Estate, Coldwell Banker, CENTURY 21, Sotheby’s International Realty and ERA Real Estate)... (read more) 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 Bond Market Assault on Central Banks Leaves No Room for Error - Bloomberg Reuters U.S. housing, manufacturing sectors mired in weakness Redfin The Next Generation of Real Estate Agents Reuters With a swipe at 'gloomsters', UK PM Johnson promises a bold new Brexit deal CNBC Based on what people are searching for on Google, a recession is nowhere near Calculated Risk Blog New Home Sales increased to 646,000 Annual Rate in June builderonline.com Home Values and Rents Both Higher in Philly in 2019 CNBC Treasury Secretary Mnuchin says he does not advocate a weak dollar policy CNBC European markets seen slightly higher amid expectations ECB could cut rates before Fed consumerfinancemonitor.com Equifax Reaches Historic $575 Million Settlement Agreement Arising from 2017 Data Breach CNBC US, China expected to hold in-person trade talks next week CNBC 'Anonymous' data might not be so anonymous, study shows Reuters EU warns incoming British PM Johnson it won't change Brexit terms

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