Although it was the focus of yesterday's discussion , the ability of the mortgage market to hold steady in the face of bond market weakness continues to impress . This is interesting because mortgage rates take direct cues from the bond market. That's still the case, but at the moment, the mortgage side of the bond market is playing with a stacked deck . If Treasuries are only a little bit weaker on any given day (like today), mortgage bonds and mortgage rates have been consistently holding their ground or actually improving. Today was more of a "ground-holding" sort of day, but it depends on how any given lender responded to yesterday's bond market weakness. Those who adjusted rates higher yesterday were generally in slightly better shape today . Those who abstained yesterday were offering

December 2, 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 2, 2020 Mortgage Rates Continue Defying Bond Market Weakness Wed, Dec 2, 2020 4:19PM Although it was the focus of yesterday's discussion , the ability of the mortgage market to hold steady in the face of bond market weakness continues to impress . This is interesting because mortgage rates take direct cues from the bond market. That's still the case, but at the moment, the mortgage side of the bond market is playing with a stacked deck . If Treasuries are only a little bit weaker on any given day (like today), mortgage bonds and mortgage rates have been consistently holding their ground or actually improving. Today was more of a "ground-holding" sort of day, but it depends on ... (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 Recap: Breaking Down The Crazy Relationship of MBS, Mortgage Rates, and Treasuries Wed, Dec 2, 2020 4:06PM Breaking Down The Crazy Relationship of MBS, Mortgage Rates, and Treasuries Bonds showed up to sell today--at least Treasuries did.  MBS, not so much!  That was the focus of the morning commentary and today's recap video offers additional clarification and detail for those seeking a deeper understanding. In... (read more) MBS Price Change UMBS 5.0 99.73 -0.05 UMBS 5.5 101.25 -0.03 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.04 -0.03 GNMA 5.5 101.20 +0.02 GNMA 6.0 102.14 -0.04 Pricing as of: 9/9 12:10AM 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 4.048 +0.009 30 YR Treasury 4.698 +0.007 Pricing as of: 9/9 12:10AM EST Other News FHA Loan Limits Move Up To A Floor of $356,362 Wed, Dec 2, 2020 3:08PM The Department of Housing and Urban Development (HUD) has published its 2021 Forward Mortgage Limits for FHA loans. The FHA limits are based on the Federal Housing Finance Agency's (FHFA's) conforming limits for Fannie Mae and Freddie Mac loans; however, they are individualized by locality and cover a much wider range. HUD sets a floor for the lowest cost ar... (read more) Home Purchase Activity up 9% Despite a Slow Holiday Week Wed, Dec 2, 2020 8:08AM There was the usual disruption to mortgage application activity during the Thanksgiving holiday week that ended November 27, although the volume, especially of purchase applications held up relatively well. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, eased back by 0.6 percent on a sea... (read more) Residential Sector Was Key to October Construction Spending Increase Tue, Dec 1, 2020 11:39AM Total construction spending in October was at a seasonally adjusted annual rate of $1.439 trillion according to U.S. Census Bureau estimates. This was an increase of 1.3 percent from the revised September estimate of $1.420 trillion and 3.7 percent higher than spending in October of 2019. While virtually all residential spending is privately funded, the incr... (read more) MLO Jobs; Docs, Accounting, Jumbo, Appraisal, Customer Service Products; Rates Moving With Stimulus Rumors Wed, Dec 2, 2020 11:17AM Fun with numbers for Hump Day! Numbers were behind HP’s decision to leave California for Houston. Thank you to Len T. who sent a great chart of the names of big numbers, suitable for the kids and anyone watching U.S. debt. Thank you to Brian B. for sending along the news that New York City doesn’t, for the first time ever, have a zip code in the ... (read more) Latest Video Return of inflation? How to trade the 10-year Treasury note Pelosi, Schumer: Bipartisan plan should be basis for immediate Covid aid ta... The 9 a.m. Bond Report: December 2, 2020 ADP: Company hiring continues to slow in November, hitting lowest rate sinc... Around the Web CNBC McConnell and Hoyer will discuss coronavirus stimulus as Congress scrambles to approve aid Calculated Risk Blog Fed's Beige Book: "modest or moderate" Growth in Economic Activity, Some Districts see "No growth" linkedin.com Agency MBS Issuance Records Are Utterly Staggering CNBC Mortgage refinancing is hot, but using your home as an ATM is not NPR CDC Shortens Its COVID-19 Quarantine Recommendations HUD FHA Releases Updated Loan Limits CNBC Mortgage refinancing is hot, but using your home as an ATM is not Calculated Risk Blog November Vehicles Sales decreased to 15.55 Million SAAR CNBC Watch Fed Chair Jerome Powell and Treasury chief Mnuchin speak to House panel live NAHB Eye on Housing Home Price Appreciation Soars in September Calculated Risk Blog ADP: Private Employment increased 307,000 in November news.google.com Fed Chair Powell: Stimulus legislation deserves 'lion's share of the credit' for economy rebound, more would help CNBC What Janet Yellen's nomination as Treasury secretary means for U.S. policy on China and trade

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