Mortgage rates fell today, but by how much depends on the lender! This runs contrary to the average news story which contains some reference to rates being flat week-over-week (due to Freddie Mac's weekly rate survey data, which unfortunately doesn't account for big market movement on Thursdays and Fridays). There was a better case to be made for such things yesterday as the Fed drew a mixed reaction from the bonds that underlie mortgages. If you didn't catch it, yesterday's article is highly recommended for those who want to understand why the Fed rate cut had no effect on mortgage rates. HERE IT IS . One of the takeaways in that article is that rates would be dependent on economic data and developments, and that there were a few big-ticket items left this week. One of those was today's ISM

August 2, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are Actually Much Lower Today Mortgage rates fell today, but by how much depends on the lender! This runs contrary to the average news story which contains some reference to rates being flat week-over-week (due to Freddie Mac's weekly rate survey data, which unfortunately doesn't... (read more) Housing News Patch Expiration Will Hit Young, Old, and Non-Traditional Earners Several weeks ago we summarized CoreLogic's first cut at quantifying the potential effects of the planned expiration of the Consumer Financial Protection Bureau's (CFPB's) Qualified Mortgage "GSE Patch." In his blog article, CoreLogic's Pete Carroll ... (read more) MBS Commentary MBS Live Day Ahead: NFP Day is NFP Day In the day just passed, bonds successfully stormed the castle, assuming the castle refers to 10yr yields with a "1" in front.  At first inspiration came from follow-through trading of Wednesday's Fed events coupled with weak economic data at 10a... (read more) Housing News 2019 Residential Construction Spending Falling Further Behind Last Year Construction spending in June missed matching the May level by 1.3 percent. Total spending by both public and private sources was at a seasonally adjusted annual rate of $1.287 trillion compared to that in May at the rate of $1.303 trillion. June's c... (read more) Housing News GSE's Post Quarterly Profits; It all Goes to Treasury Both of the government sponsored enterprises (GSEs) released second-quarter financial results this week. Each had, to varying degrees, better outcomes than in the first quarter of this year, but substantial losses compared to one year earlier. Freddi... (read more) Rob Chrisman DPA Products; Upcoming Conferences and Webinars; Capital Markets Well, we sailed through another perfectly good month, and many lenders had a superb July funding month. And there is great optimism about August’s numbers as well. Veterans, however, are watching locks to see how September is going to shape up.... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.82% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% -0.01 0.00 15 Yr. Fixed 6.07% -0.01 0.00 30 Yr. FHA 6.40% -0.01 0.00 30 Yr. Jumbo 6.92% -0.01 0.00 7/6 SOFR ARM 6.31% -0.01 0.00 30 Yr. VA 6.42% 0.00 0.00 Updates Daily - Last Update: 7/17 15 Yr. Fixed Rate 6.07% -0.01% 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 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 99.08 +0.02 Price / Yield Change MBS UMBS 5.5 99.10 +0.04 UMBS 6.0 101.10 +0.04 GNMA 5.5 99.44 -0.02 GNMA 6.0 101.12 -0.04 Pricing as of: 7/17 5:18PM EST 10 Year US Treasury 4.4563 -0.0030 Price / Yield Change US Treasury 2 YR Treasury 3.909 +0.020 5 YR Treasury 3.994 -0.001 7 YR Treasury 4.214 +0.000 10 YR Treasury 4.455 -0.004 30 YR Treasury 5.009 -0.005 Pricing as of: 7/17 5:18PM 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 Bond Traders Stick to Rate-Cut Bets as Tariffs Outweigh Jobs Calculated Risk Blog Q3 GDP Forecasts: 1.6% to 1.9% Bloomberg Fed Dissenter Eric Rosengren Saw No Compelling Case' for Rate Cut consumerfinancemonitor.com CFPB Updates TRID Rule FAQs to Address Providing a Loan Estimate to Consumers Reuters N.Y. Fed model slashes U.S. third-quarter GDP estimate below 2% Reuters U.S. consumer sentiment unchanged in late July: UMich CNBC Looking to retire someplace safe? Look north, and abroad Calculated Risk Blog Comments on July Employment Report Bloomberg U.S. Goods Trade Deficit With China Reaches Five-Month High CNBC US created 164,000 new jobs in July, vs 165,000 expected Bloomberg Goldman Sees Higher Chance of Fed Cutting Next Month on Tariffs consumerfinancemonitor.com HUD Reduces Maximum LTV for FHA Cash-Out Refinance Loans Bloomberg Bond Market Rally Is Overdone, Option Pit Founder Says

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