Mortgage rates moved lower again today, bringing them deeper into the lowest levels in more than a month. There were no specific motivations for the improvement apart from the typical day-to-day changes seen in the underlying bond market. More simply put, mortgage rates move when bonds move, and the latter can frequently be seen reacting to some development in the news or in response to a specific economic report. Today, however, bonds showed no clear predisposition to move higher or lower. That's a good thing considering Friday's movement was largely friendly for rates and that lenders were being somewhat cautious about dropping rates as quickly as the bond market suggested. Starting tomorrow morning, there will be more data for bonds to digest. If it's generally weaker than expected or if

January 6, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Continue Deeper Into Recent Lows Mortgage rates moved lower again today, bringing them deeper into the lowest levels in more than a month. There were no specific motivations for the improvement apart from the typical day-to-day changes seen in the underlying bond market. More simply... (read more) Housing News Online Homebuyer Course Could Help Borrowers Qualify Freddie Mac is announcing it has put a critical homebuyer education course online. The new tutorial, called CreditSmart® Homebuyer U is free and its successful completion satisfies the HomeOne SM or Home Possible ® mortgage homeownership educ... (read more) Housing News New Home Sales are Stronger in Growing Cities Depending on how you look at it, either Texas and Florida or Nevada and Idaho were the fastest growing states in 2019. Frank Nothaft, CoreLogic's chief economist says that in terms of sheer numbers the first two grew dramatically, with Texas adding 3... (read more) MBS Commentary MBS Live Week Ahead: 2019's Questions Quickly Being Answered in 2020 For the bond market, almost the entirety of the 2nd half of 2019 was dominated by a consolidation pattern (a narrowing trend where periodic highs and lows in rates move closer  and closer together).  As recently as the beginning of last wee... (read more) Rob Chrisman Non-QM, Subservicer Review Products; Wholesale and Correspondent Changes “Rob, I know that it costs less to retain an existing employee than to train a new one. Last year companies were reportedly paying big signing bonuses, but are you hearing about outlandish retention bonuses for production staff?” Yes, I a... (read more) Housing News Single Family Construction Spending Struggles to Catch up to 2018 Construction spending by both the public and the private sector grew in November, totaling a seasonally adjusted annual rate of $1.324 trillion dollars. This is 0.6 percent higher than the $1.316 trillion rate in October and represents 4.1 percent gr... (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 99.72 +0.08 Price / Yield Change MBS UMBS 5.5 99.74 +0.10 UMBS 6.0 101.53 +0.10 GNMA 5.5 99.94 +0.08 GNMA 6.0 101.43 +0.08 Pricing as of: 7/6 10:17PM EST 10 Year US Treasury 4.3339 -0.0128 Price / Yield Change US Treasury 2 YR Treasury 3.854 -0.029 5 YR Treasury 3.911 -0.026 7 YR Treasury 4.102 -0.023 10 YR Treasury 4.330 -0.017 30 YR Treasury 4.860 -0.003 Pricing as of: 7/6 10:17PM EST Latest Video Santelli Exchange: Compressed yields across the globe Fisher: The Fed needs to be the responsible adult in the room Fed: Risks to economic outlook appeared to ease in recent months Alan Blinder: Fed policy in a surprisingly good place Around the Web The Basis Point Homebuyer bidding wars heat up 1Q of 2020: Redfin CNBC ISM non-manufacturing data, trade deficit and Iran tensions: 3 things to watch for on Tuesday Calculated Risk Blog Update: Framing Lumber Prices Up Year-over-year CNBC Ben Bernanke says the Fed shouldn't rule out using negative interest rates Calculated Risk Blog Reis: Office Vacancy Rate unchanged in Q4 at 16.8% Bloomberg Europe Returns to the Bond Market as Geopolitics Boosts Demand Reuters Fed focuses on repo market exit strategy after avoiding year-end crunch NAR - Realtor.com How Big a Home Can You Afford? A Surprising Price per Square Foot Tour Across America CNBC The new-look Fed seems committed to low rates, but will face challenges if one thing changes Calculated Risk Blog Q4 GDP Forecasts: 1.1% to 2.3% Reuters Fed's Barkin says it's time to let rate cuts work through economy CNBC Iran strike solidifies lower U.S. mortgage rates CNBC Fed's Charles Evans says rate policy is good for now and leaves door open for more cuts

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