Mortgage rates were unchanged to slightly higher today--a claim that utterly boggles the mind of anyone who thought they understood the relationship between bond markets and the mortgage world. ALMOST without fail, a big drop in 10yr Treasury yields will coincide with lower mortgage rates. In fact, many people believe (albeit incorrectly) that mortgage rates are based on the 10yr yield. But today, despite a substantial drop in Treasury yields, mortgage rates are stuck in the mud. Since this could continue to be the case, I'm going to include the following brief statement/reminder until the situation subsides: A note on mortgage rates not improving even when 10yr yields are falling: Mortgages and the bonds that underlie them (MBS) are subject to one major uncertainty that doesn't affect US Treasuries

August 12, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Miraculously Flat Despite Massively Lower Treasury Yields Mortgage rates were unchanged to slightly higher today--a claim that utterly boggles the mind of anyone who thought they understood the relationship between bond markets and the mortgage world. ALMOST without fail, a big drop in 10yr Treasury yields ... (read more) Housing News Fannie/Freddie Universal MBS Launch Has Been Seamless So Far After years of planning, the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac launched their uniform mortgage-backed security (UMBS) in early June. So far, the Urban Institute (UI) likes what it sees. UI analysts Karan Kaul and ... (read more) MBS Commentary MBS Live Week Ahead: Sideways Baseline Waits For Inspiration (And Wonders In the week just passed, bonds began to settle into a range after the sharp move lower in the previous week (driven by flaring trade tensions).  This settling process didn't truly emerge until Thursday.  Before that bonds rallied hard int... (read more) Rob Chrisman Broker, Credit, Subservicer Products; CRM Survey and Vendor News While the world is watching 0% or-.5% interest rates in Denmark , in this country Zillow is competing with lenders, real estate agents, and mom & pop fix & flippers. In its last quarter, $248.9 million of the data company’s $599.6 milli... (read more) Housing News Recent Rate Cuts Bolster Refinance Pool Ever since mortgage rates began to move lower, Black Knight has devoted a big portion of its Mortgage Monitor , a monthly report on loan performance and other mortgage issues, to tracking the ebb and flow of the refinanceable loan population. The com... (read more) Housing News Jumbo Credit Access Increased in July The availability of jumbo mortgage loans increased in July, but not enough to offset tightening in credit access for other types of loans. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) dipped 0.4 percent co... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% -0.01 0.00 15 Yr. Fixed 6.04% -0.03 0.00 30 Yr. FHA 6.39% -0.01 0.00 30 Yr. Jumbo 6.92% 0.00 0.00 7/6 SOFR ARM 6.27% -0.04 0.00 30 Yr. VA 6.40% -0.02 0.00 Updates Daily - Last Update: 7/18 15 Yr. Fixed Rate 6.04% -0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.24 +0.12 Price / Yield Change MBS UMBS 5.5 99.24 +0.12 UMBS 6.0 101.20 +0.08 GNMA 5.5 99.55 +0.27 GNMA 6.0 101.21 +0.24 Pricing as of: 7/18 6:49PM EST 10 Year US Treasury 4.4195 -0.0338 Price / Yield Change US Treasury 2 YR Treasury 3.870 -0.034 5 YR Treasury 3.946 -0.044 7 YR Treasury 4.172 -0.038 10 YR Treasury 4.420 -0.034 30 YR Treasury 4.984 -0.024 Pricing as of: 7/18 6:49PM 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 U.S. Budget Deficit Already Exceeds Last Year's Total Figure - Bloomberg Reuters Morgan Stanley analysts say Fed to cut U.S. rates in September CNBC Wall Street sees even more Fed rate cuts ahead with Morgan Stanley predicting a return to zero CNBC Danish bank offers mortgages with negative 0.5% interest rateshere's why that's not necessarily a good thing Reuters U.S. consumer inflation outlook declined as Fed weighed rate cuts: survey Calculated Risk Blog AAR: July Rail Carloads down 4.8% YoY, Intermodal Down 6.1% YoY Reuters Yen and bond bulls charge on; Argentina braces for mauling NAHB Eye on Housing Top 10 Features Millennials Wantand Don't Want CNBC China's central bank says it's close to releasing its own digital currency Bloomberg Bond Traders on Yuan-Watch as Trade War Turns Data Into Old News CNBC Millennials drive mortgage refinance boom, and lenders are scrambling NAHB Eye on Housing Prices Paid for Building Materials Increase in July Bloomberg Trump Still Has Plenty of Ways to Escalate His China Trade War

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