Mortgage rates move lower again today. Combined with yesterday's drop, the improvement has been significant for top tier rate quotes in the lower range of available rates. What does that mean, exactly? A rate quote isn't simply a rate. That's only one side of the equation. The other side is the upfront cost. Generally speaking (and there are exceptions) the higher the rate, the lower the upfront cost, all other things being equal. Depending on movement in the bond market, certain mortgage rates can see varying amounts of change in their associated upfront costs. At the moment, it's the lowest available rates that have seen the biggest benefit. For instance, there's not much difference between yesterday and today's quotes for conventional 30yr fixed rates of 3.25% and above, but there is substantial

May 14, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates are Actually Lower This Week Mortgage rates move lower again today. Combined with yesterday's drop, the improvement has been significant for top tier rate quotes in the lower range of available rates. What does that mean, exactly? A rate quote isn't simply a rate. That's only on... (read more) Housing News FHA Borrowers Offered New Option for Catching Up on Loans The Federal Housing Finance Agency (FHFA) and both GSEs (Fannie Mae and Freddie Mac) have announced a new option for homeowners in COVID-19 forbearance plans , to eventually return their mortgages to performing status. As part of the CARES Act, a bor... (read more) MBS Commentary MBS Live Day Ahead: Treasuries Outperforming, But MBS Holding Steady The recent trading range has been reinforced after a strong show of support in this week's Treasury auctions.  Treasuries were under more pressure heading into that process and are breathing a bigger sigh of relief coming out of it.  I... (read more) Rob Chrisman LO Jobs; Valuation Products; Agency/Investor Changes; Mortgage-COVID-Video; Powell Sees Prolonged Tough Times As we race toward the Memorial Day holiday on the 25th, for the first time in history we can save the human race by laying in front of the TV and doing nothing. Let's not screw it up! Zillow laid out its work from home (WFH) plan: the rest of 2020 . ... (read more) Housing News Despite Record Unemployment, Delinquencies are Still Down From Last Year The national delinquency rate rose significantly in the first quarter of 2020, driven largely by a surge in the early stage rates. The Mortgage Bankers Association said the rate of loans on one-to-four-unit residential properties rose 59 bps (bps) co... (read more) Housing News Refi Boom Remains Steady as Purchase Demand Continues to Heal Last week was yet another good one for purchase mortgage activity and refinancing, while continuing to fade, was still at double its pace of a year ago. The Mortgage Bankers Association (MBA) said the upshot was a slight increase in its Market Compos... (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 99.73 +0.09 Price / Yield Change MBS UMBS 5.5 99.72 +0.08 UMBS 6.0 101.51 +0.08 GNMA 5.5 99.92 +0.07 GNMA 6.0 101.41 +0.07 Pricing as of: 7/7 1:01AM EST 10 Year US Treasury 4.3310 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.860 -0.023 5 YR Treasury 3.914 -0.023 7 YR Treasury 4.105 -0.020 10 YR Treasury 4.333 -0.014 30 YR Treasury 4.865 +0.002 Pricing as of: 7/7 1:01AM EST Latest Video Mark Cuban says market 'overvalued' The office sector will come back, but with some changes: Analysts Fed in the lending, not the grant-making business: Paul McCulley Nearly 3 million people filed for unemployment for week ending May 9 Around the Web Reuters Wall Street closes with strong gains as recovery hopes offset pandemic fears NAR - Realtor.com Joe Biden Would Give Homeowners, Renters This Big Break If Elected Reuters Seven weeks into coronavirus lockdowns, Fed has a new, darker message NAR - Realtor.com Mortgage Delinquencies Caused by the Coronavirus Will Exceed Great Recession Levels, According to This Forecast CNBC As millennials flee coronavirus-ridden cities, JP Morgan teams up with American Homes 4 Rent to build large suburban rental homes CNBC Nearly 40% of the poorest households hit with a job loss during pandemic, Fed study shows Calculated Risk Blog The Changing Mix of Light Vehicle Sales Redfin House Hunters' Hunger for Small Towns Continues to SoarEven as Interest in Big Cities Begins to Recover CNBC It's "too early to write the epitaph" for office real estate, UBS analyst says Calculated Risk Blog Hotels: Occupancy Rate Declined 55.9% Year-over-year, Slight Increase Week-over-week Redfin Home-Buying Demand Passes Pre-Coronavirus Levels; Inventory Down 24% CNBC US weekly jobless claims rise 2.981 million, vs 2.7 million expected NAHB Eye on Housing Credit for Builders Tightens, Virus Blamed

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