Mortgage rates were already in great shape on Friday after having fallen to the lowest levels since November 2016. Rather than draw inspiration from the week's big ticket events (Fed announcement and jobs report), the biggest source of inspiration was a flare-up in trade tensions following Trump's announcement of new tariffs on Chinese imports. Trade war drama flared over the weekend as China's central bank set the country's currency at the weakest levels in more than a decade. What does Chinese currency have to do with US mortgage rates? Quite a lot, really! The outright level of Chinese Yuan versus the US dollar is not what's important here. Rather, it was the fact that such a move was directed by the Chinese government in an obvious retaliation to Trump's trade war escalation. In other words

August 5, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Just When You Thought Rates Wouldn't Go Any Lower Mortgage rates were already in great shape on Friday after having fallen to the lowest levels since November 2016. Rather than draw inspiration from the week's big ticket events (Fed announcement and jobs report), the biggest source of inspiration wa... (read more) Housing News Rising Affordability Now Impacting Home Price Downturn Black Knight has good news for potential homebuyers , especially those in the market for their first home. The new edition of the company's Mortgage Monitor says the recent decline in mortgage interest rates has made home affordability the best it ha... (read more) Rob Chrisman Warehouse, Broker Products; FHA and Ginnie News; CFPB and DOJ Fair Lending Investigation? Blame mental health. Blame gun control. Blame “the system” or background check procedures. There’s plenty of blame to go around when it comes to the terrible mass shootings, and shootings in general. One would think politicians are ... (read more) Housing News Majority of Owners/Buyers Want a Little More Space Even as homebuilders and affordable housing advocates are pointing to the need for changes in local regulations to reduce housing costs, homebuyers and sellers seem to be largely in favor of holding on to some elbow room. A recent survey by Redfin, 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 Recap: Why Do We Care About Chinese Currency? From 2010 on, the point about the interconnectedness of global financial markets has increasingly been driven home.  It was a fun time  for me, analytically, because I felt like those of us who understood the gravity of the European si... (read more) Mortgage Rates Just When You Thought Rates Wouldn't Go Any Lower 30 Yr. Fixed Rate 6.28% -0.01% 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 15 Yr. Fixed Rate 5.65% +0.05% 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 MBS / Treasuries MBS Live Recap: Why Do We Care About Chinese Currency? UMBS 30YR 5.5 101.23 +0.10 MBS Price Change UMBS 5.0 99.67 +0.21 UMBS 5.5 101.23 +0.10 UMBS 6.0 102.51 +0.03 GNMA 5.0 100.05 +0.23 GNMA 5.5 101.22 +0.09 GNMA 6.0 102.17 +0.03 Pricing as of: 9/8 2:06PM EST 10 Year US Treasury 4.0618 -0.0249 US Treasury Yield Change 2 YR Treasury 3.500 -0.018 5 YR Treasury 3.579 -0.010 7 YR Treasury 3.786 -0.014 10 YR Treasury 4.061 -0.026 30 YR Treasury 4.716 -0.054 Pricing as of: 9/8 2:06PM 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 BlackRock's Rieder Says Rates Could Still Rally Another 25-Basis Points - Bloomberg Calculated Risk Blog Update: Framing Lumber Prices Down 20% Year-over-year Reuters Fed's Brainard says monitoring market developments 'very closely' CNBC Top 10 cities where millennials can make big bucks and actually buy homes CNBC Mortgage rates sink to 3-year low, but one third of borrowers are making this big mistake NAHB Eye on Housing Labor Shortages Still Hurting Affordability Calculated Risk Blog ISM Non-Manufacturing Index decreased to 53.7% in July Bloomberg Trump Says Weaker China Yuan Currency Manipulation, Calls on Fed CNBC The bond market doesn't believe the Fed cut was one-and-done, says strategist CNBC Benchmark 10-year Treasury yield falls to nearly 3-year low as investors flee to safer assets NPR Get Ready For Higher Prices If New Tariffs Hit Goods From China, Retailers Warn Bloomberg Bond Traders Stick to Rate-Cut Bets as Tariffs Outweigh Jobs Calculated Risk Blog Q3 GDP Forecasts: 1.6% to 1.9%

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