Bonds Continue Pushing The Record Pace, But MBS Are Lagging Yesterday we asked what would come next for bonds after breaking through resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next.  Such breakouts can be the cue for a corrective bounce or a quick rush of additional momentum.  It looks like we're getting the latter, although it's more apparent in Treasuries.   MBS are lagging due to increased supply, but prices nonetheless hit new all-time highs. Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:17 AM Bonds stronger overnight, largely during European session.  Weaker stocks helped.  10yr starting out just under the .54% technical level.  MBS are opening more than an eighth of a point higher. 11:31 AM Bonds are off their best levels of the morning.  At first, this was a bond-specific move, but stock strength since 10:30am is also correlated.  2.0 UMBS are now up just over an eighth of a point (versus a quarter point earlier) and 10yr yields are up to .5249 from lows of .5134. 02:55 PM Not much changed from the last update, but MBS continue dragging their feet near the lows of the day.  Treasuries, conversely, are near their best levels of the day.  Underperformance is largely due to increased supply pressure in MBS.

August 4, 2020 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Bonds Continue Pushing The Record Pace, But MBS Are Lagging Bonds Continue Pushing The Record Pace, But MBS Are Lagging Yesterday we asked what would come next for bonds after breaking through resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes n... (read more) Rob Chrisman Ops Jobs; Marketing, Database Tools; Disaster Updates; Capital Markets Sure, you’re making bank now, but are you planning for next year? Is your company doing anything to “team up”? Many lenders, vendors, and real estate companies have strategic partnerships with other companies. There’s strength... (read more) 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) Housing News Housing Affordability Best in Four Years, Purchase Rate Locks Surge The last report from Freddie Mac put its 30-year fixed rate mortgage (FRM) at 2.99 percent, up 1 basis point from the all-time low. Black Knight, in its new Mortgage Monitor , says that has made home affordability the best in four years. As of mid-Ju... (read more) Housing News More Home Buyers are in the Market, but Shopping Takes Longer In the second quarter of 2020, 11 percent of American adults were planning on purchasing a home over the next 12 months, and of those, almost half were actively engaged in doing so. Rose Quint, writing in the National Association of Home Builders' (N... (read more) Housing News Construction Spending Largely Unchanged as Shutdowns End Construction spending held firm in June, inching down fractionally from the May level and increasing a bit compared to June 2019. The U.S. Census Bureau said total spending during the month was at a seasonally adjusted annual rate of $1.355 trillion,... (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 5:03PM 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 5:03PM EST Latest Video Homeowners in bailouts shrink as red flags grow Housing affordability hit highest level since 2016, says Black Knight analy... June home prices see largest monthly gain in seven years Eviction crisis ahead as federal help dries up Around the Web CNBC The Fed is expected to make a major commitment to ramping up inflation soon CNBC Home prices see strong June bounce, but economists warn it likely won't last CNBC Congress struggles to break coronavirus aid stalemate as economic pain continues Calculated Risk Blog Update: Framing Lumber Prices Up 81% Year-over-year NAHB Eye on Housing Treasury and Mortgage Rate Spread Widens in July NPR Despite Mask Wars, Americans Support Aggressive Measures To Stop COVID-19, Poll Finds CFPB Mortgage and housing assistance during the coronavirus national emergency Calculated Risk Blog CoreLogic: House Prices up 4.9% Year-over-year in June CNBC Coronavirus live updates: Regeneron reports positive results for antibody drug; WHO explores virus origin in China CNBC Twitter warns about possible $250 million FTC fine CNBC Home Depot wants to speed up deliveries with new distribution centers as pandemic fuels home projects 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

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