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: 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 Jan 6, 2020 Mortgage Rates Continue Deeper Into Recent Lows Mon, Jan 6, 2020 3:46PM 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 b... (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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Week Ahead: 2019's Questions Quickly Being Answered in 2020 Mon, Jan 6, 2020 9:43AM 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 week, that consolidation trend was still very much intact, but it began to come into question after the gains ins... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Online Homebuyer Course Could Help Borrowers Qualify Mon, Jan 6, 2020 11:28AM 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 education requirement. CreditSmart Homebuyer U offers six educational modules, each focused on a key learning prin... (read more) New Home Sales are Stronger in Growing Cities Mon, Jan 6, 2020 10:11AM 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 367,000 more residents and Florida's population increasing by 233,000. Percentage wise, the two smaller states ... (read more) Single Family Construction Spending Struggles to Catch up to 2018 Fri, Jan 3, 2020 11:38AM 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 growth compared to the $1.271 trillion in construction put in place in November 2018. On an unadjusted basis, co... (read more) Non-QM, Subservicer Review Products; Wholesale and Correspondent Changes Mon, Jan 6, 2020 8:35AM “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 am hearing about those. And anyone offered anything unusual will often ask management, “Why aren’t ... (read more) 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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