You might think you know mortgage rates. You might make assumptions about where they'll go and what they'll do based on past precedent. For decades, you may have done a nearly flawless job of that simply by drawing the exceedingly logical conclusion that mortgage rates tend to behave a lot like other longer-term bonds. After all, bonds and mortgages are both loans. They're both fixed income investments. And to cap it all off, the average mortgage "becomes" a bond, in a manner of speaking, with its underlying cash flow being traded alongside the most quintessential bonds like 10yr Treasury Notes. That's why 10yr Treasury yields and mortgage rates move in the same direction at the same time with regularity that puts clocks to shame. So it's understandable that anyone familiar with this dynamic

December 9, 2020 Download our Mobile App: Download our Mobile App: Rob Chrisman Ops Jobs; VA IRRRL, Non-Agency, Doc Products; FHA Temporary Waiver, Ginnie Eligibility, VA Forbearance News I’m gonna ask my Mom if that offer to “slap me into next year” is still on the table. It’s great to be a lender in 2020, and should be into 2021, but I received this note. “Rob, industry vets keep comparing 2020 to 2003 ... (read more) Mortgage Rate Watch Mortgage Rates Living Their Own Life By Their Own Rules You might think you know mortgage rates. You might make assumptions about where they'll go and what they'll do based on past precedent. For decades, you may have done a nearly flawless job of that simply by drawing the exceedingly logical conclusion ... (read more) Housing News The Refi Boom is Keeping Elevated Delinquencies in Check While the rate of non-current loans remained sharply higher than a year ago, CoreLogic reports that serious delinquencies , loans more than 89 days past due, began to level off in September for the first time since the start of the pandemic. The comp... (read more) Housing News Tight Housing Supply, Soaring Prices, But Condos Are The Exception The pandemic keeps manifesting itself in the housing market in small but potentially significant ways and there was another data point in Black Knight's new Mortgage Monitor report. The report focuses on delinquencies, price increases, and the contin... (read more) Housing News Innovations in Home-Buying Process May be Fueling Pricing Frenzy A noted housing researcher has analyzed the current frenzy of home buying and the rapidly escalating prices since the country emerged from its short-lived spring pandemic shutdown. Issi Romem, Senior Director of Housing & Urban Economics at Zillo... (read more) MBS Commentary MBS Live Recap: MBS-Specific Volatility Today, But No Major Change to Bigger-Picture MBS-Specific Volatility Today, But No Major Change to Bigger-Picture A fresh (or perhaps "slightly less stale") take on stimulus prospects pushed bond yields higher overnight.  Domestic hours were calm u... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 2:25PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 2:25PM EST Latest Video Stimulus negotiations underway as Congress tries to agree on coronavirus re... The 9 a.m. Bond Report: December 9, 2020 Lawmakers set Dec. 18 as a deadline to reach a relief deal Mortgage rates set 14th record low of 2020, causing a surge in mortgage ref... Around the Web NAHB Eye on Housing Job Openings Slowing in Construction CNBC Fed Chair Powell's work with Janet Yellen could determine whether Biden keeps him CNBC Covid relief talks hit another wall as Congress runs short on time to send help CNBC Next stimulus package may include eviction moratorium and $25 billion in rental assistance CNBC Pentagon reveals plans to distribute first 44,000 doses of Pfizer vaccine as early as next week CNBC Next stimulus package may extend student loan payment pause until May Calculated Risk Blog BLS: Job Openings "Little Changed" at 6.7 Million in October forbes.com Mnuchin Floats New $916 Billion White House Stimulus Plan CNBC European Central Bank set to increase its stimulus as Covid lockdowns blight the economic recovery news.google.com Mortgage rates set 14th record low of the year, driving even more refinance demand CNBC Economic growth will be better than expected thanks to the resilient services sector, Goldman says Calculated Risk Blog Seattle Real Estate in November: Sales up 22% YoY, Inventory UP 27% YoY CNBC Wells Fargo CEO Scharf sees 'very quick recovery' for US economy in 2021 as vaccines are rolled out

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