Mortgage rates have fallen more aggressively than ever and they've been remarkably willing to set record after record. So is there any reason you shouldn't wait for them to go even lower? This is an age old question any time rates fall to long-term lows. In the past, the answer has been pretty easy . If rates had fallen more than 1.5% from their previous high over the course of several years, and if something obvious happened to push them just a bit lower, it was time to refi! For example, the Fed's policy shift (in favor of mortgages) in September 2012 and the Brexit vote in 2016 both pushed rates quickly lower. Both were singular events with finite information, that allowed markets to react and move on. Coronavirus has filled this role in a different way. Like past events, it hit a market

August 3, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Should You Wait For Lower Rates? Mortgage rates have fallen more aggressively than ever and they've been remarkably willing to set record after record. So is there any reason you shouldn't wait for them to go even lower? This is an age old question any time rates fall to long-term l... (read more) Rob Chrisman LO Jobs; Fraud, Retention, Legal Products; August Training and Events Remember a month ago, heading into the July 4th weekend, a resurgence of Covid-19 cases (which many officials attributed to large Memorial Day gatherings) resulted in mask-wearing mandates as well as rollbacks and delays in phased reopening plans. (S... (read more) MBS Commentary MBS Live Recap: Bonds Defend New Territory Bonds Defend New Territory Now that bonds have broken through previous resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next?  Rather than look for fast-paced follow-through, it ... (read more) Housing News FHA/VA Forbearances Continue to Climb As of Wednesday, there were 4.102 million mortgages in forbearance plans. This is 7.7 percent of the 53 million loans in servicer portfolios. Black Knight said its weekly survey noted a 17,000-loan decrease in total forborne loans over the previous w... (read more) Housing News JD Power Ranks Mortgage Servicer Satisfaction The performance of mortgage loan servicers is lacking in the eyes of many of their customers, even this early in the pandemic driven recession. J.D. Power's 2020 U.S. Primarily Mortgage Servicer Satisfaction Study found customers reporting long wait ... (read more) Housing News Fannie and Freddie Remain Profitable Despite Mortgage Delinquencies Both government supported enterprises (GSE) reported increased profits in the second quarter of 2020 compared to Q1. Fannie Mae said its net comprehensive income was $2.53 billion compared to $476 million and Freddie Mac's quarterly results were 1.94... (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 7:35PM 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 7:35PM EST Latest Video Eviction crisis ahead as federal help dries up July final read for Markit Manufacturing PMI comes in at 50.9 vs. 51.7 esti... Millions of renters at risk as four-month moratorium expires Redfin CEO on homebuying demand amid coronavirus pandemic Around the Web NAR - Realtor.com Suburban Homeowners Looking to Downsize Buy in the City Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases to 7.67%" of Portfolio Volume CNBC Nearly half of all furloughed workers now believe their temporary layoff will become permanent CNBC Banks say they are tightening lending standards even as demand for money falls CNBC Extra unemployment is over. So are most eviction moratoriums. Here's what relief could be coming next Calculated Risk Blog Construction Spending Decreased in June Calculated Risk Blog ISM Manufacturing index Increased to 54.2 in July CNBC This calculator can help estimate your unemployment benefits under the HEALS Act Calculated Risk Blog High Frequency Indicators for the Economy Redfin Late-July Home Sale Prices Up 11%, Largest Annual Increase Since 2014 CNBC A private survey showed China's manufacturing activity expanded in July CNBC U.S. Treasury yields move higher as investors monitor economic data, auctions CNBC A surge in evictions could turn into financial crisis, economist warns

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