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 6, 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 Aug 6, 2019 Just When You Thought Rates Wouldn't Go Any Lower Mon, Aug 5, 2019 3:58PM 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... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: When it Comes to Holding Recent Gains, What Would Failure Look Like? Tue, Aug 6, 2019 9:50AM In the day just passed, the bond market spent a 3rd straight day collecting treasure.  For our purposes, "treasure" refers to the newfound, unexpected, and fairly massive gains courtesy of a rapid snowball move across multiple asset classes in response to major instances of trade war escalation.  Last Thursday, it was Trump's tweets ... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:02AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:02AM EST Other News Homebuyers Aren't Big on Mortgage Shopping Tue, Aug 6, 2019 9:57AM Doug Duncan, Fannie Mae's chief economist, says homebuyers need to do more shopping around before they settle on a mortgage lender. Results from a recent National Housing Survey shows that one-third of consumers who bought a home last year got only one mortgage quote. Duncan's report notes that consumers are typically "keen" to compare prices before buying o... (read more) Rising Affordability Now Impacting Home Price Downturn Mon, Aug 5, 2019 9:01AM 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 has been in 18 months. With the 30-year fixed-rate mortgage hovering around 3.75 percent, it now takes 21.3 perc... (read more) Majority of Owners/Buyers Want a Little More Space Mon, Aug 5, 2019 8:19AM 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, the Seattle-based real estate company, found those groups are more likely to oppose the building of dense housi... (read more) Sales, Retention, Broker Products; Business is Great, But What's a Margin Call? Tue, Aug 6, 2019 9:00AM With this downward move in rates lenders across the nation are girding their loins for margin calls from broker/dealers on mortgage-backed security positions. (What’s a margin call? Answer in the capital markets section.) And everyone’s stock investments are being pummeled – let’s hope someone thought to move those monies for future d... (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 CNBC Fed's Bullard says it will take time to gauge the effects of the interest rate cut Reuters Wall St. rebounds, up 1% after China moves on yuan Bloomberg U.S. 10-Year Yield Could Hit 1% on Trade War, BofAML's Ciana Says - Bloomberg CNBC Mortgage rates are at a 3-year lowhere are 3 questions to ask before you refinance Calculated Risk Blog BLS: Job Openings "Little Changed" at 7.3 Million in June Yahoo News Fed's Bullard to AFP: US interest rates 'in right neighborhood' Reuters Trump still wants trade deal with China: adviser CNBC Kudlow: Trump is flexible on China tariffs depending on how trade talks go CNBC Former Fed chairs say the US central bank must be free of 'political pressures' Redfin Luxury Housing Market Remains Chilly: Prices up Just 1% Amid Falling Sales and Surging Supply in the Second Quarter 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'

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.