Mortgage rates moved lower today even though the broader bond market suggested they should have remained flat or higher. In several of this week's previous articles, we've discussed the volatility that's been wreaking havoc on the world of mortgage rate setting for lenders. Simply put, when the moves get bigger and when the direction changes more frequently, mortgage rates take extra damage relative to Treasury yields (a risk-free benchmark for most any other rate in the US). Conversely, when rampant volatility begins to ebb, lenders are able to repair some of that damage. The steadier the broader bond market can remain, the more we may see mortgage rates fall , even if outright trading levels aren't suggesting as much of an improvement. More simply put, the 10yr Treasury yield is at 1.738

August 9, 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 9, 2019 Here's Why Mortgage Rates Dropped Even Though Markets Disagreed Fri, Aug 9, 2019 4:15PM Mortgage rates moved lower today even though the broader bond market suggested they should have remained flat or higher. In several of this week's previous articles, we've discussed the volatility that's been wreaking havoc on the world of mortgage rate setting for lenders. Simply put, when the moves get bigger and when the direction changes more frequently, mortgage rates take extra damage relative to Treasury yields (a risk-free benchmark for most any other rate in the US). Conversely, when rampant volatility begins to ebb, lenders are able to repair some of that damage. The steadier the bro... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Recap: In Like a Lion. Out Like a Slightly Less Angry Lion Fri, Aug 9, 2019 4:53PM I wouldn't go so far as to say this week of bond market movement went "out like a lamb," but at the very least, it wasn't nearly as brutal as the first 4 days.  Yields were almost perfectly unchanged in the overnight session, but began to fall in the morning hours after Trump talked tough on China and called for a 1.0% rate cut from the Fed. Bonds d... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:20PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:20PM EST Other News Recent Rate Cuts Bolster Refinance Pool Fri, Aug 9, 2019 10:16AM 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 company defines refinanceable as a loan where the borrower can qualify for a new loan with a credit score of 720 ... (read more) Jumbo Credit Access Increased in July Fri, Aug 9, 2019 8:14AM 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 compared to June to a reading of 189.0. A decline in the MCAI, which was benchmarked to 100 in March 2012, indic... (read more) Home Purchase Sentiment Hits Record High Thu, Aug 8, 2019 8:28AM There was an unusually large bump in Fannie Mae's Home Purchase Sentiment Index (HPSI) in July. The company said strong positive responses to questions on the National Housing Survey (NHS) about job security and interest rate declines sent the index up 2.2 points compared to June. The HPSI, at a 93.7 reading, is up 7.2 points compared to the same time last y... (read more) DPA, Analytic products; Jumbo and Non-Conforming News Fri, Aug 9, 2019 9:20AM Critics of the “new and improved” 1003, aka URLA, for loan applications must be quite pleased with the indefinite delay of its required rollout announced yesterday. “The Federal Housing Finance Agency (FHFA) has completed its review of the redesigned Uniform Residential Loan Application (URLA) and has directed Freddie Mac and Fannie Mae to ... 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