Mortgage rates and the broader bond market are both in the midst of a correction after hitting the best levels in more than 3 years last week. This is a correction that many market watchers were worried about on several occasions in August. But every time it looked like rates had bottomed, it only took a few days of indecision before they were again pressing into new long-term lows. This most recent break from long-term lows has been far more threatening with 2 of the past 4 business days bringing the biggest single-day jumps in several months. As a result, the average lender is now back to offering rates last seen in early August. Notably, a conventional 30yr fixed rate of 3.75% is right in the neighborhood of what many borrowers would be quoted today. That said, for many lenders 3.75% makes

September 11, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Highest in More Than a Month Mortgage rates and the broader bond market are both in the midst of a correction after hitting the best levels in more than 3 years last week. This is a correction that many market watchers were worried about on several occasions in August. But every... (read more) MBS Commentary MBS Live Day Ahead: Be Very Skeptical of Rate Forecasts and Technical Evidence In the day just passed, bonds kicked into higher gear with respect to the correction that began to materialize last Thursday.  If you feel like you missed the signs, go back and read the second half of this post: Beware The Bounce.  Several... (read more) Housing News Lenders See Demand and Profits Expanding, While Credit Tightens Mortgage lenders reflected a lot of optimism about their business prospects in the third quarter Mortgage Lender Sentiment Survey conducted by Fannie Mae. This is in sync with a report late last month from the Mortgage Bankers Association which repor... (read more) Housing News Mortgage Apps Found Gains in a Holiday-Shortened Week Although the week ended September 7 was shortened by the Labor Day holiday, mortgage application volume managed an increase. It was the first week-over-week gain since Early August. The Mortgage Bankers Association (MBA) said its Market Composite Ind... (read more) Rob Chrisman Non-QM, Branding, Correspondent Products; Origination Channels 101 Is our housing system a dumpster fire ?” (I don’t think so; we have hundreds of thousands helping millions every year although F&F would be better off if all their profits didn’t go straight to the government.) And now the CFPB ... (read more) Housing News Some States Showing Signs of Stress, Delinquencies on the Rise While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eight states in June. Those eight bucked a national trend that has brought the overall delinquency rate ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.02 +0.21 Price / Yield Change MBS UMBS 5.5 100.06 +0.25 UMBS 6.0 101.67 +0.16 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:03PM EST 10 Year US Treasury 4.2290 -0.0523 Price / Yield Change US Treasury 2 YR Treasury 3.724 -0.026 5 YR Treasury 3.799 -0.036 7 YR Treasury 3.986 -0.049 10 YR Treasury 4.230 -0.051 30 YR Treasury 4.777 -0.054 Pricing as of: 6/30 6:03PM 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 Calculated Risk Blog Merrill on Retail "Consumer demand pulled back in August" NAR - Realtor.com Housing Finance Reform Battle Lines Drawn in Senate Hearing NAHB Eye on Housing Building Materials Price Growth Slows in August Calculated Risk Blog Houston Real Estate in August: Sales up 4% YoY, Inventory Up 8% Bloomberg Bond Wizards Find Exotic Ways to Profit From Negative Yields - Bloomberg Calculated Risk Blog Employment: August Diffusion Indexes Reuters Explainer: How does negative rate policy work? CNBC Deutsche Bank sees four rate cuts by January, says the US risks 'zero rates' if trade war escalates CNBC US producer prices unexpectedly rise in August Reuters Trump urges zero or negative interest rates to tackle U.S. debt Bloomberg Tumbling Treasuries Drive Yields to Highest Levels in a Month CNBC The economic numbers are continuing to defy the recession hype CNBC Jamie Dimon says JP Morgan is preparing for the risk of zero rates in the US

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