A second housing price index is showing an uptick in the rate of appreciation, possibly because interest rates declines have begun to mitigate affordability issues. CoreLogic says its Home Price Index for July was up 3.6 percent in July, the annual increase in June, was 3.4 percent. On a month over month basis the gain was 0.5 percent compared to an increase of 0.4 percent the previous month. Last week Black Knight noted that the rate of increase in its index had risen for the first time in 16 months. CoreLogic Chief Economist Frank Nothaft said, "Sales of new and existing homes this July were up from a year ago, supported by low mortgage rates and rising family income. With the for-sale inventory remaining low in many markets, the pick-up in buying has nudged price growth up. If low interest

September 3, 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 Sep 3, 2019 Yes, Mortgage Rates are Lower and 10yr Yields are Higher Today Thu, Aug 29, 2019 4:12PM Two days ago, I wrote an article entitled " No, Mortgage Rates Aren't Based on 10yr Treasury Yields ." It's worth a read if you're not already up to speed on why that's a true statement. It also paves the way to understand why today's headline can be true (and in fact, it is). Mortgage rates moved LOWER today. Granted, it wasn't a huge move lower, but it's notable against the backdrop of 10yr Treasury yields that were more than 0.06% higher at one point. Much of the discussion regarding mortgages vs Treasuries centers on MBS (the mortgage-backed securities that serve as the base ingredient for... (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 Week Ahead: Big Week of Domestic Data, But Will It Matter? Tue, Sep 3, 2019 9:26AM In the week just passed, Treasuries put in their most stable and uninspiring performance of the month (in their defense, it was a crazy month).  Every single day's highs and lows were contained inside the range set on the previous Friday.  Despite that intensely sideways performance, there were a few notable developments.  These include... (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 6:21PM 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 6:21PM EST Other News Home Prices are on the Rise Again Tue, Sep 3, 2019 9:46AM A second housing price index is showing an uptick in the rate of appreciation, possibly because interest rates declines have begun to mitigate affordability issues. CoreLogic says its Home Price Index for July was up 3.6 percent in July, the annual increase in June, was 3.4 percent. On a month over month basis the gain was 0.5 percent compared to an increase... (read more) Banks Report Huge Improvement in Mortgage Profitability Fri, Aug 30, 2019 8:45AM There was a dramatic turnaround for many mortgage banks in the second quarter as their production profits increased nearly six-fold compared to the previous period. The Mortgage Bankers Association (MBA) said the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks responding to their survey said they had an average net gain of $1,6... (read more) Lower Rates Increased Affordability in July Fri, Aug 30, 2019 8:33AM At least one housing index is seeing a turn-around in the direction of home prices . Black Knight says the continuing decline of interest rates have increased homebuying affordability. As a result, its ended 16 straight months of decelerating appreciation in July. The company's Home Price Index (HPI) increased 0.34 percent for the month, bringing year-over-y... (read more) VA, Broker Products; Investor Disaster News; 2018 HMDA Data Out With Interesting Stats Tue, Sep 3, 2019 9:00AM We’re two-thirds of the way through with the third quarter of 2019, and with Labor Day behind us places like Minneapolis and Seattle are losing three minutes of sunlight per day. Rumor has it that lock desks all over the nation are trying to hire this guy in St. Louis. My cat Myrtle has always given a "claws up" to anyone who ignores an armed robbery, ... 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