There's no shortage of bad news when it comes to the economy and the housing market. But that's no surprise considering the circumstances. The sheer size and speed of the economic contraction makes it easy to worry about what the future will look like. Has coronavirus changed things forever? Is it true that many jobs have been permanently destroyed? I don't know. No one can really know. Many of the more troubling questions won't be able to be answered any time soon. No one can deny things are bad and that some things may stay bad for a long time. But hidden amid the understandable sea of pessimism, there are some reasons for hope. We're not talking about the kind of hope that makes us complacent to the ongoing economic risks. Rather, there are simply some positive counterpoints to the abundant

May 22, 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 May 22, 2020 The Sun Also Rises For The Housing and Mortgage Markets Fri, May 22, 2020 3:31PM There's no shortage of bad news when it comes to the economy and the housing market. But that's no surprise considering the circumstances. The sheer size and speed of the economic contraction makes it easy to worry about what the future will look like. Has coronavirus changed things forever? Is it true that many jobs have been permanently destroyed? I don't know. No one can really know. Many of the more troubling questions won't be able to be answered any time soon. No one can deny things are bad and that some things may stay bad for a long time. But hidden amid the understandable sea of pessi... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Not Reading Too Much Into Things Ahead of 3.5-Day Weekend Fri, May 22, 2020 9:37AM Treasuries started out stronger after overnight drama between China and Hong Kong caused a "risk-off" trade (i.e. sell stocks, buy bonds).  MBS continue lagging Treasuries.  What's up with that? The performance between MBS and Treasuries can always vary to some extent.  Divergences are more easily seen in a few specific situations. ... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News More Evidence That Forbearance is Widely Being Taken as a Precaution Fri, May 22, 2020 9:54AM The number of homeowners in mortgage forbearance plans continues to increase, reaching 4.75 million by May 19. This is 9.0 percent of all active borrowers nationwide and represents a little more than $1 trillion in unpaid principal. The number of plans grew by 93,000 borrowers between May 12 and May 19. Black Knight, in its weekly report on the forbearance p... (read more) First Wave of Forbearances Almost Doubles Delinquency Rates Fri, May 22, 2020 12:34PM The years-long downward trend of mortgage delinquencies appears to have come to an abrupt end in April. Black Knight, in its "first look" at the month's loan performance data, said the national delinquency rate shot up 90 percent compared to March and is 86 percent higher than in April 2019 at 6.45 percent. That rate indicates the percentage of active loans ... (read more) Existing Sales hit 10-Year Low, But Low Rates are a Silver Lining Thu, May 21, 2020 11:57AM Existing home sales fell hard in April, the numbers coming in about where analysts expected them but breaking a nine-month string of annual gains. The National Association of Realtors® said total sales of single-family homes, townhouses, condos, and cooperative were at a seasonally adjusted annual rate of 4.33 million, down from the 5.27 million sold in ... (read more) LO Jobs; CRM, Marketing, Lending Products; Tools for Borrowers; Rates: a Global Snapshot Fri, May 22, 2020 8:52AM The Friday before a three-day weekend (honoring the men and women who died while serving in the U.S. military)! Can’t you just feel that anxiousness to go and hike, to have a meal out, to see people, to sit in a restaurant? No one can argue that social distancing has increased the rate of infection, right? Many are “chomping at the bit,” we... (read more) Latest Video Economic damage continues, but there are signs of improvement: Strategist Cabin fever is translating into cabin demand, here's how the travel industr... New York City's coronavirus infection rate now appears lower than when the ... 'This is a new tech cold war' — Strategist on rising US-China tensions Around the Web Calculated Risk Blog Seasonal Adjustment Weirdness: Will State and Local Governments Hire 700,000 Teachers in June and July? Calculated Risk Blog Q2 GDP Forecasts: Probably Around 40% Annual Rate Decline CNBC At first, some mortgage bailout recipients didn't need it, but now more do Calculated Risk Blog NMHC: Rent Payment Tracker Finds 90.8 Percent Paid Rent as of May 20th Calculated Risk Blog BLS: April jobless rates up in all 50 states; 43 States at New Record Highs CNBC Dr. Fauci is still confident U.S. could have a coronavirus vaccine by December NAHB Eye on Housing New Single-Family Home Size Declines Ending? CNBC Banks will struggle to generate profits even as the global economy recovers, IMF says Calculated Risk Blog Black Knight: Black Knight: 4.75 Million Homeowners Now in COVID-19-Related Forbearance Plans; Nearly Half Made April Mortgage Payments CNBC Georgia reopening has been 'a mixed bag,' Atlanta Fed President Bostic says Redfin Newly Built Homes Make Up Largest Share of Market Since at Least 2012 Calculated Risk Blog Comments on April Existing Home Sales Reuters Mnuchin sees U.S. economic bottom in second quarter, 'gigantic increase' fourth quarter

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.