The housing market has been looking slightly better over the last few month and Freddie Mac July economic report reflects that fact. They also maintain a fairly rosy picture of the economy as a whole. They note that the 30-year fixed-rate mortgages (FRM) dipped below 4.0 percent at the end of May and has remained there "amid concerns over trade disputes, a possible economic slowdown, and market anticipation of a Federal Reserve interest rate cut." This has caused a spike in mortgage applications for both purchase and refinancing and they predict that low rates, along with a thriving labor market, will help sustain the housing market , not just short term, but for at least the next year and a half. They have, in fact, revised down their quarterly forecasts for mortgage rates over that period

July 31, 2019 Download our Mobile App: Download our Mobile App: Housing News Freddie Mac Sees Low Rates Extending Through 2020 The housing market has been looking slightly better over the last few month and Freddie Mac July economic report reflects that fact. They also maintain a fairly rosy picture of the economy as a whole. They note that the 30-year fixed-rate mortgages (... (read more) MBS Commentary MBS Live Day Ahead: The Fed Rate Cut Has Basically Already Happened In the day just passed, bonds put in one more day of slow, illiquid summertime trading.  Granted, volumes were slightly better than the previous session, but the previous session saw the 2nd lightest volume in more than 3 months.  The morni... (read more) Mortgage Rate Watch Mortgage Rates Stay Calm Before Tomorrow's (Potential) Storm Mortgage rates haven't moved much this week, or last week, or the week before that. In fact, for the average prospective borrower, there haven't been any major changes since first making it down to the multi-year lows in June. That said, there has be... (read more) Rob Chrisman CRM, Broker, Sales, Rental Products; Conventional Conforming Trends Large investors often shy away from monies that are not in the mainstream banking sector. (Accounts in cryptocurrency jump to mind.) Can you blame them? But plenty of people want to use that money to buy houses and lower the vacancy rate. In Census B... (read more) Housing News Mortgage Application Volume Falls for Fifth Consecutive Week Mortgage application activity declined for the fifth consecutive period during the week ended July 26. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 1.4 percent on a seasonally adju... (read more) Housing News Stellar Sales Report Reinforces Housing's Strong Summer Pending home sales put in an especially strong performance in June , the second consecutive positive report as well as the fourth in five months. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-look... (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 6:16AM 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 6:16AM 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 CNBC Trump says Fed Chief Powell 'let us down' by not clearly signaling more rate cuts Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate Unchanged in June CNBC Fed Chief Powell says rate cut was a 'mid-cycle adjustment' Reuters Instant View: Fed cuts rates for first time since 2008 CNBC Fed disappoints markets by sounding more 'neutral' than dovish Reuters WRAPUP 2-Fed lowers interest rates as expected, leaves door open to more cuts Federal Reserve Federal Reserve issues FOMC statement CNBC This state is home to the best cities for renters CNBC Here's how the Fed sets interest rates and how that rate has changed over the last four decades CNBC What the Fed's words say about how dovish it will be after the rate cut Reuters U.S. Midwest factory index sags to lowest since December 2015: Chicago PMI Bloomberg To Fix Its Housing Crunch, One U.S. City Takes Aim at the Single-Family Home Calculated Risk Blog ADP: Private Employment increased 156,000 in July

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