Mortgage rates managed to improve modestly for the average lender today, but they remain significantly higher than they were before last week's regulatory drama . By the time we consider the size, scope, and the precipitous imposition of the new refi fee, we've never seen anything remotely similar. Lenders were definitely taken by surprise and they'll definitely be paying dearly for all refis that were already locked. When lenders get big, negative surprises concerning profitability or new cost requirements, they tend to raise rates very quickly and by a larger-than-necessary amount. As such, a fee that should theoretically result in an eighth of a point increase in conventional refinance rates instead resulted in a 0.25-0.375% increase to all conventional rates. If 2.75-2.875 was a strong

August 18, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Still Reeling From Last Week, Mortgage Rates Tiptoe Lower Mortgage rates managed to improve modestly for the average lender today, but they remain significantly higher than they were before last week's regulatory drama . By the time we consider the size, scope, and the precipitous imposition of the new refi... (read more) Housing News Homebuilding is on Fire; Best Pace in Over a Decade Residential construction rates soared in July with both permits and starts increasing from their June pace by double digits and topping 2019 numbers for the same period. Completions also rose, but at a more subdued rate. The U.S. Census Bureau and De... (read more) Rob Chrisman MLO, AE Jobs; Training, Marketing, Compliance Tools; MI Industry Snapshot; Strong Housing Numbers “Last night I was a hero! I rescued some beer that was trapped in a bottle.” All of our lives are changing, and thank you to Lydia O. for sending along, “ Six Key Takeaways From Pandemic Data on American Households .” (“... (read more) Housing News Economists Upbeat on Q3, Home Sales Growth Is Too Good To Last At the midway point of the current (3 rd ) quarter Fannie Mae is looking for a huge improvement in the gross domestic product (GDP). The company's Economic & Strategic Research (ESR) Group is forecasting an increase of 27.2 percent for the quarte... (read more) Housing News Builder Confidence Skyrockets, Matching 1988 Record Builders have tied their 32-year old record for confidence as measured by the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The Index, which has been conducted by NAHB for 35 years, jumped by 6 points in August to 78 a... (read more) MBS Commentary MBS Live Recap: Rates Are Reconnecting With Bond Market Movement Rates Are Reconnecting With Bond Market Movement After last week's LLPA news, lenders pulled back pricing for obvious reasons and only gradually lowered their defenses.  As of today, we are fin... (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 4:55PM 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 4:55PM EST Latest Video U.S. housing starts total 1.496 million in July, vs 1.240 million expected Millennials turning to Instagram to purchase 'Cheap Old Houses' Homebuilder sentiment jumps to record high August Empire State Index comes in at 3.7, versus 19 expected Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in July CNBC Here's what happened to the stock market on Tuesday NAHB Eye on Housing Custom Home Building Outperformed the Market During 2Q20 CNBC Kelly Evans: A housing-led recovery CNBC Millions of Americans are facing longer periods of unemployment, posing greater financial risks Calculated Risk Blog August Employment Report Will Show an Increase of Several Hundred Thousand Temporary Census Workers CNBC The S&P 500 finally hit a new record after multiple tries this month. Here's what could happen next Calculated Risk Blog Comments on July Housing Starts Calculated Risk Blog Housing Starts increased to 1.496 Million Annual Rate in July CNBC U.S. and European firms face $1 trillion in costs to relocate their Chinese supply chains, BofA says Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases for the Ninth Straight Week to 7.21%" Calculated Risk Blog CAR on California July Housing: Sales up 6% YoY, Active Listings down 48% YoY Calculated Risk Blog NMHC: Rent Payment Tracker Finds Decline in People Paying Rent in August

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