Very Uneventful Week in The Bigger Picture Heading into this week, we were hoping to see some consensus between the economic data and any "4th of July" effects on covid numbers.  It seems that holiday-driven case counts are only starting to hit as of Friday.  More importantly, markets seem to be taking it in stride (suggesting if it was obvious to us, it was obvious to traders).  Add underwhelming data to the mix and this leaves us in an increasingly familiar holding pattern. Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) Housing Starts +17.3% vs +8.2% prev Building Permits +2.1% vs +14.1% prev Consumer Sentiment 73.2 vs 79.0 f'cast , 78.1 prev Market Movement Recap 08:18 AM Bonds improved modestly in relatively quiet overnight trading and despite gains in equities (give credit to positive earnings updates).  10yr yields fell roughly 1.5 bps and are trading just over 0.60% to start the morning.  2.0 UMBS are up 1 tick (0.03). 09:57 AM In a few blinks of an eye, 10yr yields have moved into negative territory--even if only slightly (+0.2bps at .62%).  2.0 UMBS are also just a hair into negative territory, but that's barely 2 ticks lower from the last update (not enough for negative reprice risk). 12:06 PM Bond yields spiking mildly after an IMF warning on runaway US debt levels.  10yr yields up nearly 1.5bps now and 2.0 UMBS down more than an eighth from AM highs. 02:33 PM A small amount of resilience but no major change after the mid-day weakness discussed in the last update.  Bonds are on cruise control heading into the weekend after a very flat week overall.

July 17, 2020 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Very Uneventful Week in The Bigger Picture Very Uneventful Week in The Bigger Picture Heading into this week, we were hoping to see some consensus between the economic data and any "4th of July" effects on covid numbers.  It seems that holiday-dr... (read more) Rob Chrisman Sales, Ops Jobs; Builder, Data Analysis Tools; Ginnie and FHA Updates Want an estimate of how many borrowers might be out there, benefitting from your assistance by you giving them a lower rate (assuming they, and the property, qualify, of course)? Go to page 11 of Black Knight’s report . Is “oodles and ood... (read more) Mortgage Rate Watch Mortgage Rates Under 3% For The First Time (Again) Mortgage rates moved lower this morning as lenders got caught up with recent improvement in the bond market. The bond market is the primary consideration for interest rate levels and investors have remained eager to buy bonds for a variety of reasons... (read more) Housing News Construction Continues Post-Plunge Gains All three measures in the Census Bureaus June residential construction report moved higher , as the building industry continued to recover from its April collapse. However, of the three, only the rate of units completed was higher than its June 2019 ... (read more) Housing News Average FICO Scores Rise 9 Points Since March The interest rates on mortgage loans that closed in June averaged 3.40 percent, down 3 basis points from the average in May according to Ellie Mae's Origination Insight Report. The rate for 30-year conventional loans was 3.42 percent compared to 3.44... (read more) Housing News Forbearance Plan Numbers at Lowest Levels Since May There was another decline in forbearance starts this past week and the number of loans in active plans also fell for the third straight week. Black Knight's weekly report on COVID-19 related forbearances reported a total of 4.12 million loans that ha... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.96% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.96% 0.00 0.00 15 Yr. Fixed 6.21% -0.02 0.00 30 Yr. FHA 6.45% -0.01 0.00 30 Yr. Jumbo 7.05% 0.00 0.00 7/6 SOFR ARM 6.24% +0.01 0.00 30 Yr. VA 6.46% -0.02 0.00 Updates Daily - Last Update: 6/3 15 Yr. Fixed Rate 6.21% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.89% +0.03 0.00 15 Yr. Fixed 6.03% +0.02 0.00 Updates Weekly - Last Update: 5/29 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% +0.06 0.69 15 Yr. Fixed 6.21% +0.09 0.72 30 Yr. Jumbo 6.94% +0.09 0.72 Updates Weekly - Last Update: 5/21 MBS / Treasuries UMBS 30YR 5.5 98.83 +0.03 Price / Yield Change MBS UMBS 5.5 98.83 +0.03 UMBS 6.0 100.90 +0.04 GNMA 5.5 99.12 0.00 GNMA 6.0 100.86 +0.01 Pricing as of: 6/4 2:31AM EST 10 Year US Treasury 4.4493 -0.0163 Price / Yield Change US Treasury 2 YR Treasury 3.953 -0.002 5 YR Treasury 4.020 -0.002 7 YR Treasury 4.225 -0.003 10 YR Treasury 4.451 -0.015 30 YR Treasury 4.975 -0.011 Pricing as of: 6/4 2:31AM EST Latest Video Mnuchin: Congress should allow second loans for hardest hit LendingTree chief economist predicts mortgage rates will continue to fall U.S. housing starts total 1.186 million in June, vs 1.169 million expected Homebuilding stocks surge as sentiment climbs to pre-pandemic level. What's... Around the Web CNBC Here's what happened to the stock market on Friday CNBC Without big Wall Street trading arms, regional banks lean on mortgages and fees to beat earnings Calculated Risk Blog CAR on California June Housing: Sales down 13% YoY, Listing down 25% YoY CNBC More than 25 million Americans are set to lose the $600 unemployment boost next week Calculated Risk Blog Comments on June Housing Starts Brookings Institution Former Fed Chairs Bernanke and Yellen testified on COVID-19 and response to economic crisis Calculated Risk Blog LA area Port Traffic Down Year-over-year in June Calculated Risk Blog Q2 GDP Forecasts: Probably Around 35% Annual Rate Decline Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decline, Lowest Since May CNBC Rising coronavirus infections risk a 'W-shaped' recovery, economists warn Redfin U.S. Median Home Sale Price up 3% to a New High in June CNBC The last two times this happened, homebuilding stocks rallied double digits: Chart analyst CNBC Treasury yields fall as U.S. coronavirus cases continue to rise

© 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.