Mortgage application volume was relatively flat as the nation eased into the holiday season. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 1.1 percent on a seasonally adjusted basis during the week ended December 11. On an unadjusted basis the increase was 0.4 percent. The Refinance Index increased 1.0 percent from the previous week and was 105 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 72.7 percent of total applications from 72.0 percent the previous week. The Purchase Index rose 2.0 percent on both an adjusted and an unadjusted basis. Volume was 26 percent higher than during the same week in 2019. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed " U.S. Treasury rates stayed

December 16, 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 Dec 16, 2020 Mortgage Rates Holding Near All-Time Lows Ahead of The Fed Tue, Dec 15, 2020 5:12PM Mortgage rates were mixed today, depending on the lender. The bond market--the driving force behind interest rate movement--was stronger yesterday. Many mortgage lenders thought it was strong enough to justify mid-day improvements in mortgage rates. Those lenders were the ones generally offering modestly higher rates today. Conversely, lenders who abstained yesterday were able to offer slightly better terms today. All told, the average lender is roughly unchanged with 30yr fixed rates that remain very close to true all-time lows. Tomorrow brings the week's biggest risks with important economic... (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: Fed Abstains From Bond-Buying Change, But Powell Delivers Wed, Dec 16, 2020 4:30PM Fed Abstains From Bond-Buying Change, But Powell Delivers Speculation about whether or not the Fed would make a bond buying change at the December meeting is now behind us.  The Fed changed almost nothing in its policy statement.  In fact, the changes it made were arguably bond-friendly.  Nonetheless b... (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 Mortgage Application Volume Holds Steady as Rates Test Lows Wed, Dec 16, 2020 10:30AM Mortgage application volume was relatively flat as the nation eased into the holiday season. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 1.1 percent on a seasonally adjusted basis during the week ended December 11. On an unadjusted basis the increase was 0.4 percent. The Refinance Index increased 1.0... (read more) Builder Confidence Pulls Back from Record Levels Wed, Dec 16, 2020 12:27PM After setting successive survey highs in September, October, and November, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) retreated a bit this month. The HMI, which is a measure of home builder confidence in the new home market, fell 4 points to 86. Despite this decline, it was still the second highest reading in the ... (read more) New Home Sales Declined in November as Economic Recovery Slows Wed, Dec 16, 2020 10:09AM The Mortgage Bankers Association (MBA) says applications for new home purchases suffered a significant downturn in November but remain well above the level of activity at the same time in 2019. MBA's Builder Application Survey (BAS) shows a 16 percent decline in applications from October to November. This does not include any seasonal adjustment. Application... (read more) MLO Jobs; Shell Wanted; Fulfillment, Doc, Servicing Products; Training; Few Reasons For Rates to Move Tue, Dec 15, 2020 10:12AM “We were so poor when I was a kid that we couldn’t afford tinsel. We had to wait for Grandpa to sneeze.” At the opposite end of the economic spectrum, these NBA players had some fun with Jingle Bells . Athletes like NBA players file taxes not only in their home state, but they are also subject to taxes in every state in which they play (wor... (read more) Latest Video Second half of next year the economy should be performing strongly: Jerome ... Fed's Powell says it will take some time for inflation to move higher Fed is reiterating positive growth outlook we expected: Allianz Global's Ma... Federal Reserve leaves interest rates unchanged and projects zero rates thr... Around the Web CNBC Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate news.google.com Fed commits to keep buying bonds until the economy gets back to full employment CNBC Fed rate decision and Chairman Jerome Powell's press conference Calculated Risk Blog AIA: "Architecture billings lose ground in November" news.google.com Homebuilder confidence drops from record high as high prices hit buyers CNBC The U.S. cities seeing the biggest drop in workers, according to online meeting data Calculated Risk Blog Retail Sales decreased 1.1% in November CNBC 10-year Treasury yields rose slightly ahead of the Fed's economic outlook NY Fed NY/NJ business activity declined at its fastest pace since June NY Fed NY Fed's Statement on MBS Purchases CNBC The Fed could disappoint markets Wednesday, even if it keeps a super dovish tone NPR Census Estimates U.S. Population As High As 336 Million Ahead Of Actual Count NAR - Realtor.com Homes in Wildfire, Flood-Prone Areas Appreciate Slower

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