Rising Rate Trend Changing Course or Just Leveling Off? After a modest day of gains on Friday, bonds covered some more serious ground today.  10yr yields were more than 4bps lower at the 3pm CME close, and roughly 8bps lower versus Friday's highs.  Does this mean the prevailing negative trend is reversing?  Or are we simply taking a break while bonds wait for more info? Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) New Home Sales 959k vs 1.025m f'cast, 994k prev Market Movement Recap 08:19 AM Bonds were stronger out of the gate in Asia, largely following weakness in the stock market.  Similar correlation hit once again at the start of the European session where 10yr yields (and stocks) hit their lows together shortly after the European open.  Both have been inching back toward higher levels since then, but S&P futures are still down 1% on the day and 10yr yields are down 2.85bps at .812.  MBS are starting the day up almost an eighth of a point. 01:32 PM Rallying fairly well into the PM hours, mostly following a rather large selling spree in stocks (S&P futures down 2.55% on the day).  10yr yields are down 4.5bps to .796 and 2.0 UMBS are up 5 ticks (.16) now at 103-04 (103.125). 03:22 PM Stocks lost almost 1% between 11:15am and the lows of the day at 1:30pm.  Contrast that with the bond market where 10yr yields were .79% on both occasions.  That builds a case for today's resilience meeting resistance at the .79% technical level.  MBS are up an eighth of a point, just a bit off their mid-day highs, but by no means in distress. 

October 26, 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 Oct 26, 2020 Don't Believe This Week's Mortgage Rate News. Here's Why Fri, Oct 23, 2020 6:26PM Another week, another glut of news articles claiming mortgage rates are at all-time lows. While no one is intentionally trying to deceive you, the news is deceptive nonetheless. Why? Freddie Mac's weekly mortgage rate survey is at the heart of the issue. The survey is a mainstay of the mortgage industry and the news media. It's been around for decades and is really the only mortgage rate benchmark the industry has. Despite the apparent street cred, their numbers can be hopelessly inaccurate at times. There are two reasons for the inaccuracy. The first is the survey's methodology. Freddie publi... (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 Recap: Rising Rate Trend Changing Course or Just Leveling Off? Mon, Oct 26, 2020 3:36PM Rising Rate Trend Changing Course or Just Leveling Off? After a modest day of gains on Friday, bonds covered some more serious ground today.  10yr yields were more than 4bps lower at the 3pm CME close, and roughly 8bps lower versus Friday's highs.  Does this mean the prevailing negative trend is reversing?&... (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 New Home Sales Finally Level Off at 14 Year High Mon, Oct 26, 2020 11:04AM New home sales declined in September for the first time since April. The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes were sold at a seasonally adjusted annual rate of 959,000 units, a 3.4 percent decline from the prior month. Further, the 1,011,000 sales reported in August were revised down to ... (read more) Some Delinquency Rates are Declining to Pre-COVID Levels Mon, Oct 26, 2020 10:59AM The number of serious delinquencies dropped in September according to Black Knight. The 43,000 decline in the number of loans that were 90 or more days past due marked the first improvement in that statistic since the start of the pandemic. The change leaves 2.32 million homeowners seriously overdue on their mortgages but not in foreclosure, 1.88 million mor... (read more) Homeowner Profits Soared in Q3 Fri, Oct 23, 2020 10:46AM The contribution made to household wealth by homeownership is underlined in ATTOM Data Solutions' third-quarter U.S. Home Sales Report . The company said that a typical homeowner who sold a home during the quarter had a gain of $85,000 . This was $10,000 more than that realized by sellers in the previous quarter and up from $66,000 in the third quarter of 20... (read more) Ops Jobs; Retention, AI, Non-QM, Accounting Products; Southeast Disaster Updates Mon, Oct 26, 2020 10:57AM The most reliable way to forecast the future is to try to understand the present. Vendor M&A is rampant (the latest being First American acquiring ServiceMac ). Although there is no way that the “experts” could have predicted the combination of the economy, the election, the pandemic, and all of their iterations, loan originators and real est... (read more) Latest Video Dow drops more than 800 points, on pace for worst day since September European lockdowns appear to be making investors nervous, says economist Da... New home sales drop 3.5% in September History suggests a contested election could contribute to market volatility Around the Web CNBC Stock market turbulence could last until the election, followed by a relief rally, strategists say Calculated Risk Blog Dallas Fed: "Texas Manufacturing Expands for Fifth Straight Month" in October news.google.com It 'looks like the clock has run out' on a new stimulus, says Fundstrat's Washington strategist Calculated Risk Blog A few Comments on September New Home Sales NAHB Eye on Housing Expectations for Housing Availability Improve news.google.com Stimulus check facts: Eligibility, payment amount, IRS schedule to send a second relief payment Calculated Risk Blog Eight High Frequency Indicators for the Economy CNBC Banks may have to brace for heavy losses as commercial property prices plunge CNBC There's a big week ahead for the market with an earnings deluge, GDP data and stimulus negotiations Calculated Risk Blog Q3 GDP Forecasts Calculated Risk Blog NMHC: "October Apartment Market Conditions Showed Some Rebound from COVID-19 Impacts" CNBC Long-term unemployment spikes for millions of Americans. Aid that's kept them afloat may end soon NAHB Eye on Housing 77% of Remodelers Report A Framing Lumber Shortage

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.