Mortgage rates are on a tear, with the average lender easily hitting new all-time lows today. How low is that? At this point it's safe to say that anything over 3% is too high as long as we're talking about a top tier scenario. So let's take a moment to discuss what might separate one scenario from another. 1. Loan-to-Value ratio (LTV) As the name implies, it's the ratio of the proposed new loan amount to the value of the home in question (note that the purchase price is used if it's lower than the appraised value). This one of the two most important considerations that determines the pricing bracket your loan quote would fall into. By the time you get an LTV down under 75%, you're paying almost no additional interest, but there's a very important caveat. 2. Credit Score (FICO) This is the

August 5, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch New Mortgage Rate Record; What Is a "Top Tier" Scenario? Mortgage rates are on a tear, with the average lender easily hitting new all-time lows today. How low is that? At this point it's safe to say that anything over 3% is too high as long as we're talking about a top tier scenario. So let's take a moment... (read more) MBS Commentary MBS Live Recap: Is The Rally Meeting Resistance or Just Consolidation? Is The Rally Meeting Resistance or Just Consolidation? With modest overnight weakness and a small negative reaction to this morning's headlines (ADP and Treasury issuance), bonds may be encountering some more... (read more) Housing News Mortgage Application Volume Pulls Back For Second Consecutive Week Mortgage application volume declined during the week ended July 31 even as mortgage interest rates reached another all-time low. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreased 5.1 percent o... (read more) Rob Chrisman Business Practice, Income, Compliance Products; Renewing the Non-QM Segment Since eating inside a restaurant is problematic, now’s the perfect time to eat better at home, get fit, and stay healthy. Never mind: Who are we trying to impress? We have snacks, we have sweatpants, let’s use them! Would you be impressed... (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: 7/5 3:19PM 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: 7/5 3:19PM EST Latest Video Suburban growth is now double that of cities—Here's what it could mean for ... U.S. adds only 167K jobs versus 1M expected—Four experts on what's next for... July ISM services beats expectations at 58.1, highest since February 2019 Homeowners in bailouts shrink as red flags grow Around the Web CNBC Just 36% of parents want full-time in-person schools this fall The Basis Point Will Zillow buy my house? Yes, Zillow resumes buying in 24 cities after COVID pause. NAHB Eye on Housing Business Application Shows Growth in Q2 2020 Calculated Risk Blog ISM Services Index increased to 58.1% in July, Employment Index Declined CNBC Fed Vice Chair Clarida still sees the economy staging a comeback this year Redfin Survey: 25% of Homebuyers Are MovingOr Moving Sooner Than PlannedBecause of the Pandemic Calculated Risk Blog Trade Deficit decreased to $50.7 Billion in June CNBC Private payrolls grow by 167,000 in July, well below expectations CNBC Moderna second-quarter revenue jumps fivefold on coronavirus vaccine development 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

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