Mortgage rates are coming off a rough week-- the roughest , in fact, since June 2020 by some measures. That's the last time rates rose this quickly for market-driven reasons. There were a few instances of bigger moves in Aug/Sept as the new refinance fee was announced, delayed, and ultimately implemented. Either way, things aren't great right now, relatively speaking. The "relative" qualification is important considering this abrupt move higher has yet to threaten to take the average top tier 30yr fixed quote above 3%--far from it, in fact. Most lenders can still offer 2.875% or better on refis and 2.625% or better on purchases. This assumes an ideal scenario with 20%+ equity, strong credit, etc. If this drama were to conclude right now, it wouldn't be that big of a deal in the bigger picture

January 12, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 12, 2021 Rates Rising at Fastest Pace in Months Mon, Jan 11, 2021 5:41PM Mortgage rates are coming off a rough week-- the roughest , in fact, since June 2020 by some measures. That's the last time rates rose this quickly for market-driven reasons. There were a few instances of bigger moves in Aug/Sept as the new refinance fee was announced, delayed, and ultimately implemented. Either way, things aren't great right now, relatively speaking. The "relative" qualification is important considering this abrupt move higher has yet to threaten to take the average top tier 30yr fixed quote above 3%--far from it, in fact. Most lenders can still offer 2.875% or better on refi... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.08 +0.00   97.47 101.61 UMBS 30YR 6.0 102.38 +0.00   99.66 102.50 10 YR Treasury 4.083 -0.001   3.621 4.780 MBS Live Recap: Much-Anticipated Correction Finally Arrives. Now What? Tue, Jan 12, 2021 4:16PM Much-Anticipated Correction Finally Arrives. Now What? This morning's alert noted a scary scenario playing out in bonds due to a confluence of big picture negative motivations (power shift in D.C., ruminations about Fed tapering, brighter covid/econ outlook as vaccines roll out, and the general need to cor... (read more) MBS Price Change UMBS 5.0 99.47 +0.03 UMBS 5.5 101.07 +0.00 UMBS 6.0 102.38 +0.00 GNMA 5.0 99.75 +0.02 GNMA 5.5 101.03 -0.02 GNMA 6.0 102.02 +0.05 Pricing as of: 9/9 10:51PM EST US Treasury Yield Change 2 YR Treasury 3.551 -0.017 5 YR Treasury 3.611 -0.016 7 YR Treasury 3.811 -0.022 10 YR Treasury 4.084 +0.001 30 YR Treasury 4.729 -0.005 Pricing as of: 9/9 10:51PM EST Other News Still Cheaper to Own than Rent in Majority of U.S. Counties Fri, Jan 8, 2021 1:23PM In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions' 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for a comparable home and found owning more affordable 572 or 63 percent of them. The company says this has happen... (read more) Black Knight Notes Slowdown in Forbearance Improvement Fri, Jan 8, 2021 1:20PM A month end wave of plan expirations in December led to a substantial decline in the number of active forbearances during the first week of 2021. Black Knight says there were 92,000 fewer active plans as the week ended, a decline of 3 percent and the largest weekly drop since early November. Many of the plans that expired were reaching the 9-month mark. Prog... (read more) Although Gradually Improving, Delinquencies Remain Elevated Tue, Jan 12, 2021 10:42AM The rate of mortgage delinquencies remains significantly elevated from last year, but there is gradual improvement . The national rate moved higher in October on an annual basis per CoreLogic's Loan Performance Insights Report . Loans that were 30 or more days past due, including those in foreclosure, represented 6.1 percent of all active mortgages compared ... (read more) Sales, MLO Jobs; Home Ownership, Non-QM, PPE, Sales Tools; Conventional Conforming Updates Tue, Jan 12, 2021 9:53AM Nearly two weeks into 2021 already? I was just getting used to saying “2020.” Now I have to add a syllable every time. “One.” There’s continued talk of companies like Finance of America , loanDepot , SoFi , and Homepoint going public, and if Caliber and AmeriHome will after delaying things in October. Many experts are predicting... (read more) Latest Video Housing could be at risk if interest rates go higher: Sri-Kumar Here's what traders are saying about the 10-year yield jumping to highest l... I've never seen investor demand higher for multifamily homes: RealtyMogul C... The Bond Report - 9am - January 12, 2021 Around the Web Calculated Risk Blog Denver Real Estate in December: Sales Up 5% YoY, Active Inventory Down 50% CNBC Fed's Esther George cautions that inflation could rise faster than expected NAR - Realtor.com Good Riddance to Open Floor Plans and Cabinets Galore: Top Kitchen Trends of 2021 CNBC Hospitality industry sees drop in job openings and surge in separations as shutdowns take hold NAHB Eye on Housing Open Job Rate in Construction Steady NAHB Eye on Housing Credit Card Debt Continues to Decrease in November Calculated Risk Blog BLS: Job Openings "Little Changed" at 6.5 Million in November CNBC Hiring for these jobs is on the rise in 2021, according to LinkedIn Calculated Risk Blog Small Business Optimism Decreased in December Reuters Fed's Rosengren says U.S. economy could see robust recovery in second half of 2021 Reuters Fed's George: "too soon to speculate about the timing of any change" Reuters Fed's Mester says it's 'premature' to change monetary policy stance Calculated Risk Blog Tuesday: Job Openings

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.