Mortgage rates were moderately higher today marking the first detectable shift of the week. Many of the market participants who trade the bonds responsible for rate movement had been waiting to see what the European Central Bank (ECB) had to say in its policy announcement today. Although the announcement itself was rate-friendly, traders felt that ECB President Mario Draghi wasn't rate-friendly enough in the subsequent press conference. Bonds quickly began losing ground as Draghi spoke early this morning. The weaker levels ( which imply higher rates ) were already in place by the time most mortgage lenders generate their first rate sheet of the day. As such, most lenders were quoting higher rates right out of the gate. The good news is that "higher rates" may not mean the same thing to you

July 25, 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 Jul 25, 2019 Mortgage Rates Bounce Higher Thanks to Europe Thu, Jul 25, 2019 3:26PM Mortgage rates were moderately higher today marking the first detectable shift of the week. Many of the market participants who trade the bonds responsible for rate movement had been waiting to see what the European Central Bank (ECB) had to say in its policy announcement today. Although the announcement itself was rate-friendly, traders felt that ECB President Mario Draghi wasn't rate-friendly enough in the subsequent press conference. Bonds quickly began losing ground as Draghi spoke early this morning. The weaker levels ( which imply higher rates ) were already in place by the time most mor... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Recap: ECB Helps at First, Then Draghi Does Damage Thu, Jul 25, 2019 3:58PM The European Central Bank (ECB) announcement and press conference were hotly-anticipated as today's key events and they did not disappoint.  The announcement itself (out at 7:45am ET) was generally well-received as it hinted at additional bond-buying potential as well as the willingness to cut rates even further if needed.  Really, the only short... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Homeowner Vacancy Rate Lowest Since 1981 Thu, Jul 25, 2019 3:42PM The U.S. homeownership rate in the second quarter dipped slightly from its level in both the first quarter of this year and one year earlier, but at 64.1 percent the Census Bureau said it was statistically unchanged. The rate hit a low of 62.9 in the second quarter of 2016, ending exactly 10 years of decline. The rate was lowest in the West where it dipped q... (read more) Refi Boom Helps to Slow Application Fraud Thu, Jul 25, 2019 12:00PM The incidence of mortgage application fraud declined in the second quarter according to CoreLogic. The company's Quarterly Mortgage Fraud Risk Index fell from 152 in the first quarter to 132 and is 11.4 percent lower than the 149 reading in the second quarter of last year. The company said the reason for the change however is not because of an increase in le... (read more) 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) Non-QM, Sales, FHA Products; Tech Survey Results; ECB Nudges Our Rates Thu, Jul 25, 2019 9:17AM If you, or your borrowers, want $125 from Equifax, or to receive free credit reporting, here’s what you should do. The official settlement website has been posted and is accepting claims. (To confirm you're eligible to file a claim, enter your last name and the last six digits of your Social Security number on the site or call the Settlement Administra... (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 NAHB Eye on Housing Homeownership Rate Falls NAHB Eye on Housing FHA-Backed New Home Sales Increase 60% Year-over-Year Reuters Wall St. declines on weak earnings reports; ECB disappoints Calculated Risk Blog Kansas City Fed: "Tenth District Manufacturing Largely Unchanged Again in July" Calculated Risk Blog HVS: Q2 2019 Homeownership and Vacancy Rates CNBC US factory orders for large manufactured goods surged 2% in June Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 206,000 CNBC You could save hundreds of dollars per month by refinancing your homehere's how to do it Bloomberg Fed to Cut Interest Rates, Stick to Balance Sheet Runoff: Survey Reuters ECB prepares some sub-zero relief for wilting Europe 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

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