Mortgage rates improved again today as the market continued to react to updates on the coronavirus outbreak. For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019. Even then, today's rates at least match Sept 2019's rates on average. In other words, today is tied for the lowest levels in more than 3 years. To reiterate yesterday's message: the persistent availability of such low rates depends on a few factors. The biggest among those at the moment is the evolution of the coronavirus outbreak. It's definitely been responsible for the quick bump toward this week's low levels, but the trade-off is that rates should experience quick upward pressure as soon as epidemiologists can confirm

January 31, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jan 31, 2020 Mortgage Rates Basically at Best Levels Since 2016 Thu, Jan 30, 2020 3:11PM Mortgage rates improved again today as the market continued to react to updates on the coronavirus outbreak. For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019. Even then, today's rates at least match Sept 2019's rates on average. In other words, today is tied for the lowest levels in more than 3 years. To reiterate yesterday's message: the persistent availability of such low rates depends on a few factors. The biggest among those at the moment is the evolution of the coronavirus ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.45 -0.11   95.05 100.11 UMBS 30YR 5.5 101.00 -0.06   97.47 101.40 10 YR Treasury 4.109 +0.034   3.932 4.780 MBS Live Day Ahead: False Alarm, But Still on Guard Fri, Jan 31, 2020 9:12AM Yesterday offered up a fairly intense trading session for the bond market.  Yields moved to the lowest levels in months with 10yr Treasuries hitting 1.534 in the afternoon.  Shortly thereafter, the World Health Organization (WHO) officially declared coronavirus to be an international public health emergency.  While that sounds like it might be... (read more) MBS Price Change UMBS 4.5 97.40 -0.17 UMBS 5.0 99.45 -0.11 UMBS 5.5 100.99 -0.07 GNMA 4.5 97.51 -0.14 GNMA 5.0 99.69 -0.04 GNMA 5.5 100.79 -0.03 Pricing as of: 11/3 7:39PM EST US Treasury Yield Change 2 YR Treasury 3.615 +0.041 5 YR Treasury 3.728 +0.045 7 YR Treasury 3.905 +0.032 10 YR Treasury 4.113 +0.038 30 YR Treasury 4.692 +0.039 Pricing as of: 11/3 7:39PM EST Other News FHA Loans Becoming More Popular as Market Recovers Thu, Jan 30, 2020 12:05PM In the throes of the housing crisis, it sometimes seemed as though FHA was the only way to finance a home purchase , especially for those with less than stellar credit or unable to come up with a large downpayment. The government sponsored insurance program has always been, quite intentionally, a countercyclical lender and when money was flowing freely durin... (read more) 2019 Was a Great Year to Sell Your Home Thu, Jan 30, 2020 8:51AM Homeownership is apparently still one of the best ways to build wealth. The Year-End Home Sales Report from ATTOM Data Solutions shows that the typical homeowner who sold a home in 2019 realized a gain of $65,500. This is up from $58,100 in 2018 and $50,027 in 2017 and the largest profit margin since 2006. Todd Teta, ATTOM's chief product officer said, "The ... (read more) Pending Home Sales Erase More Than Half of 2019's Gains in a Single Report Wed, Jan 29, 2020 10:35AM December's pending home sales erased the small gain posted in November and the National Association of Realtors' (NAR's) Pending Home Sales Index (PHSI) ended the year exactly where it had begun. The PHSI is a forward-looking indicator of existing home sales based on purchase contracts signed during the month. It fell 4.9 percent in December, from 108.5 in N... (read more) Marketing, Broker, Pricing Products; Rates, the Fed and the Coronavirus Fri, Jan 31, 2020 9:02AM Interesting times. Our CFPB has a new Chief Experience Officer . United Wholesale has an ad in the Super Bowl , recommending brokers to consumers. Experian also has an ad, and Quicken Loans is a sponsor. Early estimates have $2.4 trillion in home loans funding last year, the most since 2006 , pre-CFPB, pre-ATR . In other statistical news, so far, experts are... (read more) Latest Video Pimco On Coronavirus: Markets were looking for excuse to sell off Mortgage rates around 3% will get buyers out: Economist Britain to formally withdraw from the EU Quicken Loans CEO Jay Farner on the housing market Around the Web NPR Trump Declares Coronavirus A Public Health Emergency And Restricts Travel From China Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate unchanged in December CNBC What the FICO credit score changes mean for first-time homebuyers Reuters Major U.S. airlines cancel China flights as government takes action Calculated Risk Blog Q1 GDP Forecasts: 1.0% to 2.7% CNBC Fed Chairman Powell thought it was 'terrific' that a senator defended him against Trump Reuters Germany wants to conclude Brexit talks by year's end: minister CNBC How to buy a house despite student debt Calculated Risk Blog Q4 2019 GDP Details on Residential and Commercial Real Estate CNBC More than 9 million homeowners could save big money on a mortgage refinance as rates hit lowest point since 2016 Reuters U.S. consumer spending rises steadily; income tepid NAHB Eye on Housing Interest Rates Can Also Price Households Out of the Market CNBC US Treasury yields rise after briefly sending a recession signal

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