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: Mortgage Rate Watch Mortgage Rates Basically at Best Levels Since 2016 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 beg... (read more) MBS Commentary MBS Live Day Ahead: False Alarm, But Still on Guard 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... (read more) Rob Chrisman Marketing, Broker, Pricing Products; Rates, the Fed and the Coronavirus 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 loa... (read more) Housing News FHA Loans Becoming More Popular as Market Recovers 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 ... (read more) Housing News 2019 Was a Great Year to Sell Your Home 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 ... (read more) Housing News Pending Home Sales Erase More Than Half of 2019's Gains in a Single Report 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 ho... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 6:05AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 6:05AM EST 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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