Any discussion of "all-time low" mortgage rates requires careful attention to specifics. Are we talking about weekly survey numbers or actual daily numbers? Intraday vs end of day? Best-case rates or averages? Purchases or refis? Depending on the specifics, it is true that some lenders are offering all-time lows on purchase mortgages. Refis are another story due to the new adverse market fee that is now being added to nearly all conventional refinance transactions. Sidenote for those confused about extension of the refi fee deadline to "Dec 1." This doesn't mean you can avoid the fee if you lock/apply before December 1st. The event that must occur by Dec 1st is the DELIVERY of the loan--a milestone in the lifecycle of a loan that occurs 2-4 weeks AFTER it closes. In other words, no loan that

November 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 Nov 6, 2020 Another Nice Drop in Mortgage Rates, But Still Not "All-Time" Thu, Nov 5, 2020 4:53PM Any discussion of "all-time low" mortgage rates requires careful attention to specifics. Are we talking about weekly survey numbers or actual daily numbers? Intraday vs end of day? Best-case rates or averages? Purchases or refis? Depending on the specifics, it is true that some lenders are offering all-time lows on purchase mortgages. Refis are another story due to the new adverse market fee that is now being added to nearly all conventional refinance transactions. Sidenote for those confused about extension of the refi fee deadline to "Dec 1." This doesn't mean you can avoid the fee if you lo... (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 4.048 +0.009   3.621 4.780 MBS Live Day Ahead: Jobs Report And Election Hurting Bonds, But MBS Outperform Fri, Nov 6, 2020 10:15AM 10yr yields already showed their lack of bullish conviction when it came time to challenge a floor at .72%.  If anything the message was that additional rally momentum would be hard to come by as yields vaulted back up to .79.  Today, they're showing more of a willingness to challenge overhead ceilings with yields already up to .83% after a st... (read more) MBS Price Change UMBS 5.0 99.74 -0.04 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.05 -0.03 GNMA 5.5 101.20 +0.02 GNMA 6.0 102.15 -0.04 Pricing as of: 9/9 12:07AM EST US Treasury Yield Change 2 YR Treasury 3.498 +0.010 5 YR Treasury 3.570 +0.009 7 YR Treasury 3.776 +0.008 10 YR Treasury 4.049 +0.010 30 YR Treasury 4.700 +0.010 Pricing as of: 9/9 12:07AM EST Other News Forbearances at Their Lowest Level Since April, But There's a Catch Fri, Nov 6, 2020 10:15AM Another round of expirations reduced the number of active forbearance plans last week. Black Knight said the number of homeowners in COVID-19 related plans fell by 137,000 during the week, after a slight uptick the week before. The 5.0 percent improvement was about what was expected for the first week of the month. At the beginning of October over 700,000 fo... (read more) Think Tank Concludes Mortgage Guidelines Could Safely be Twice as Risky Tue, Nov 3, 2020 10:49AM The Urban Institute's (UI's) Housing Finance Policy Center has updated its credit availability index (HCAI) to reflect data for the second quarter of 2020. The Index shows a slight dip from an adjusted 5.3 percent in the first quarter to 5.2 percent in the second quarter. Tightening in the GSE and government channels has driven a retraction of credit availab... (read more) Refis Help to Boost Mortgage Application Volume Wed, Nov 4, 2020 8:15AM An increase in refinancing carried overall applications onto the plus side of the ledger during the week ended October 30. The Mortgage Bankers Association (MBA) said its Mortgage Applications Survey found a slight decline in purchase applications but a significant gain in refinancing compared to the previous week. This resulted in an increase of MBA's Marke... (read more) VOE, Database, Broker Tools; Events; Disaster Updates; Political Uncertainty Moving Rates Thu, Nov 5, 2020 10:29AM With Nevada’s 6 electoral college votes, nothing says 2020 like the fate of the nation resting in the hands of Reno. When sending out a daily commentary grows wearisome for me, I may shift gears and open up a rehab center in Oregon. Why Oregon? The approval this week of shrooms and the decriminalization of small amounts of meth, heroin, cocaine, and po... (read more) Latest Video The 2 p.m. Bond Report: November 6, 2020 The 9 a.m. Bond Report: November 6, 2020 Quality of job gains is starting to deteriorate: Economist on jobs numbers Former Vice President Joe Biden takes lead in Pennsylvania voting Around the Web Calculated Risk Blog AAR: October Rail Carloads down 6.6% YoY, Intermodal Up 10.0% YoY Calculated Risk Blog Las Vegas Real Estate in October: Sales up 11% YoY, Inventory down 34% YoY NAHB Eye on Housing Residential Construction Employment Is Higher Than a Year Ago NPR Biden Takes Leads In Pa., Ga., Putting Him On Cusp Of Electoral College Win Calculated Risk Blog Comments on October Employment Report Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decreased NPR New Daily U.S. Coronavirus Cases Jump Nearly 20%, Hitting Almost 122,000 CNBC U.S. added 638,000 jobs in October, unemployment rate slides to 6.9% Calculated Risk Blog Goldman October Payrolls Preview NAR - Realtor.com How Presidential Election Uncertainty Hurtsand Helpsthe Housing Market news.google.com Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels - CNBC CNBC Homeowners and buyers are the real winners in this election Calculated Risk Blog October Employment Preview

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