Bonds Beginning The Week on The Defensive After weeks of gradual strength in bonds, this week begins with rates under modest pressure.  The rest of the week brings several other potential market movers in addition to the ongoing hyperfocus on covid numbers.  Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) Durable Goods Orders: 7.3 vs 7.0 f'cast , 15.1 prev Cap-Ex 3.3 vs 2.3 f'cast , 1.6 prev  Market Movement Recap 08:45 AM Stocks stayed modestly stronger in the overnight session with the street giving credit to generally positive earnings reports.  Bonds avoided paying too much attention, spending the night mostly flat and starting the domestic session in just slightly stronger territory.  No major reaction to the Durable Goods data. 12:55 PM Very little to report as bonds are little-changed from the outside.  Treasuries are minutes away from digesting the 5yr auction and that could be a reason yields are near the higher end of the day's range.  2.0 UMBS are outperforming, up 3 ticks on the day (0.09) still trading just shy of 103.00.   01:04 PM 5yr auction, 2.88 vs .284 forecast. Not causing a huge reaction, but could be the reason for modest weakness in Treasuries just now 03:22 PM A bit more weakness over the past 90 minutes with 10yr yields now up more than 2bps on the day.  MBS are still positive.  Stocks are at their highs.  

July 27, 2020 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Bonds Beginning The Week on The Defensive Bonds Beginning The Week on The Defensive After weeks of gradual strength in bonds, this week begins with rates under modest pressure.  The rest of the week brings several other potential market movers i... (read more) Housing News Housing Affordability is Still a Challenge, but Improving The National Association of Home Builders' (NAHB') Housing Trends Report for the second quarter of 2020 found slightly less than a quarter of prospective home buyers could afford a median-priced home in their local markets, leaving 77 percent shut ou... (read more) Rob Chrisman Ops, LO Jobs; Sales Webinar; World News Driving Rates, Primer on the Belly of the Yield Curve In these days when you can’t even get 100% of Americans to agree that water is wet, we have hurricanes, gold prices skyrocketing, COVID relief debates, and ninety-nine days more of “fun” until the election. Yes, it appears that anot... (read more) Mortgage Rate Watch How Low Can Rates Eventually Go? The bond market saw yet another week with rates in a holding pattern at historic lows. With coronavirus being the primary motivation for rates, it wouldn't be a surprise to see indecision continue until we get a clearer idea of how things will shake ... (read more) Housing News HUD Eliminates Obama Era Fair Housing Rule It had been threatened from the beginning of the Trump administration, but this week the hammer fell. U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson has announced the formal termination of the Obama Administration's Affir... (read more) Housing News New Home Sales Explode Back to Pre-Pandemic Levels New Home sales have done it again, rising for the third straight month. The U.S. Census Bureau and Department of Housing and Urban Development estimate that newly constructed single-family homes were sold at a seasonally adjusted annual rate of 776,0... (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 7:52PM 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 7:52PM EST Latest Video Another covid-spending bill will pass, likely before August recess: Public ... WaPo: Senate GOP to propose cutting jobless benefit to $200 a week Moderna CEO Stephane Bancel on kick off of phase three Covid-19 vaccine tri... Fmr. Fed Governor: "I'm troubled by the 30 million unemployed...economic si... Around the Web Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency Rate increased sharply in June, Highest in 7 Years Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases for Sixth Straight Week to 7.74%" of Portfolio Volume CNBC Coronavirus outbreak show signs of slowing in Arizona, Texas and Florida NAR - Realtor.com Jumbo Mortgage Rates Are No Longer the Cheapest Mortgages Around Calculated Risk Blog Where to Look for Initial Economic Damage if Disaster Relief is Inadequate Calculated Risk Blog Dallas Fed: "Texas Manufacturing Recovery Continues" in July NAHB Eye on Housing Affordability Expectations Show Slight Improvement CNBC Moderna shares soar after U.S. ups funding for coronavirus vaccine by $472 million Calculated Risk Blog High Frequency Indicators for the Economy CNBC U.S. Treasury prices move higher amid concerns over coronavirus infections, geopolital tension Calculated Risk Blog FOMC Preview CNBC Nearly 25% of all loans, credit cards and mortgages are in financial hardship programs CNBC A second round of $1,200 stimulus checks could be coming. Here's how soon you can expect them

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