The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology's (formerly Ellie Mae's) records, an average of 2.93 percent and a 4-basis point decline from the November rate. The company, in its monthly Origination Insight Report , said the note rate for all three loan types it tracks, FHA, Conventional, and VA, were all below 3.0 percent for the second straight month. FHA and Conventional loans dropped to 2.94 and 2.96 percent, respectively. Each averaged 2.99 percent the prior month. The VA rate fell from 2.72 to 2.66 percent. Refinances continued to dominate at 60 percent of originations , down 1 percentage point from November but up from 46 percent a year earlier. The outsized share was skewed toward conventional loans at 68

January 25, 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 25, 2021 Mortgage Rates Down Only Slightly Despite Bond Market Rally Mon, Jan 25, 2021 4:24PM What's a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become in order to be traded on the open market (thus allowing lenders to make more loans with less risk and lower rates). As investors buy and sell bonds throughout the day, bond prices change. The higher the price, the lower the implied interest rate. Simply put, if bonds are rallying, rates should be falling shortly thereafter. The 10yr Treasury yield... (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: Strong Move in Treasuries But MBS Underperform (Significantly) Mon, Jan 25, 2021 4:17PM Strong Move in Treasuries But MBS Underperform (Significantly) While much of the world of finance and institutional investment seemed to be preoccupied with day trading some truly epic ridiculousness via Game Stop, the bond market was doing a few interesting things of its own.  Treasuries jumped out to an early ... (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 Loans Still Taking 2 Months to Close as Refi Demand Stays Strong Mon, Jan 25, 2021 11:44AM The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology's (formerly Ellie Mae's) records, an average of 2.93 percent and a 4-basis point decline from the November rate. The company, in its monthly Origination Insight Report , said the note rate for all three loan types it tracks, FHA, Conve... (read more) Upbeat 2021 Econ Forecast From Fannie Mae Fri, Jan 22, 2021 1:00PM Optimism is running high in Fannie Mae's first Economic and Housing Outlook of the year. The company's Economic and Strategic Research (ESR) team says expanding vaccination efforts, the potential of greater than previously expected fiscal stimulus, and the end of winter all "point to an economy ready to take off once COVID-19-related effects begin to subside... (read more) Existing Home Sales Reach Highest Levels Since 2006 Fri, Jan 22, 2021 1:09PM Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors® (NAR) said sales in the last month of the year rose 0.7 percent. Sales of single-family homes, townhomes, condominiums, and co-ops, were at a seasonally adjusted annua... (read more) MLO, Ops Jobs; Broker, VOE, Servicing, MI Tools; Imminent Training and Virtual Events Mon, Jan 25, 2021 10:35AM There’s always “stuff” going on in residential lending, right? Capital markets folks have noticed that the big banks are re-entering buying jumbo loans from correspondents. BAML’s pass through channel, Wells Fargo, Redwood Trust, Chase, Citi remind us that banks and investors are cash rich and seeking to put assets on their books at t... (read more) Latest Video President Joe Biden discusses his $1.9 trillion Covid relief deal El-Erian: Fed will likely remain dovish because short-term outlook has beco... The Bond Report - 9am - January 25, 2021 Cramer on Moderna's Covid vaccine appearing effective against UK variant Around the Web news.google.com Moderna CEO: US needs to prepare for fall, COVID-19 resurgence - Yahoo Finance CNBC Nearly 20% of renters in America are behind on their payments CNBC ECB's Lagarde says pandemic recovery might be delayed, but shouldn't be derailed NAHB Eye on Housing Top Ten Builder Share Tops 30 Percent in 2019 for Second Year in a Row Calculated Risk Blog Housing Inventory Weekly Update: At Record Lows Calculated Risk Blog Dallas Fed: "Texas Manufacturing Expansion Moderates" in January NAHB Eye on Housing The Missing Middle: A Solution for Adding More Housing Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC Treasury yields fall as investors eye stimulus plans CNBC European markets head for higher open amid hopes of U.S. stimulus Redfin Smart Living: The Latest Smart Home Tech to Add to Your Home CNBC Still no stimulus check? Biden executive order aims to speed up payments for 8 million people Calculated Risk Blog Comments on December Existing Home Sales

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