Mortgage rates got off to a slow start yesterday. It was hard to object considering that left the average lender in line with record lows. But today was a bit different. While most lenders were little-changed at first, many ultimately raised rates during the day in response to deterioration in the bond market. The notion of "raising rates" is relative, in this case. The average prospective mortgage borrower wouldn't think much of the mid-day increases. In fact , they would likely be seeing the same rate quote as yesterday with only a slight increase to upfront costs (or a decrease to lender credit). This is typically the case for mortgages. It takes some serious drama in the bond market for rates to move in an alarming way, and that sort of drama has been in short supply for months. If there

January 5, 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 5, 2021 Mortgage Rates Brace For Potential Impact Tue, Jan 5, 2021 3:53PM Mortgage rates got off to a slow start yesterday. It was hard to object considering that left the average lender in line with record lows. But today was a bit different. While most lenders were little-changed at first, many ultimately raised rates during the day in response to deterioration in the bond market. The notion of "raising rates" is relative, in this case. The average prospective mortgage borrower wouldn't think much of the mid-day increases. In fact , they would likely be seeing the same rate quote as yesterday with only a slight increase to upfront costs (or a decrease to lender cr... (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: Tomorrow Could Be a Very Big Day For Bonds Tue, Jan 5, 2021 3:53PM Tomorrow Could Be a Very Big Day For Bonds Bonds experienced a bit of weakness today, but 10yr yields bounced almost perfectly at the range ceiling of .96%.  That means they made it all the way from November through today in essentially the same narrow range.  All the while the biggest potential driver of a... (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 Residential Spending Continues to Lead Construction Numbers Mon, Jan 4, 2021 11:36AM Total spending on construction projects in the U.S. rose 0.9 percent in November compared to October. The U.S. Census Bureau estimated that the seasonally adjusted annual spending on all types of construction was $1.459 trillion during the month compared to $1.447 trillion the prior month, an 0.9 percent increase. The rate was up 3.8 percent from annualized ... (read more) Forbearances Slightly Elevated at the End of 2020 Mon, Jan 4, 2021 11:18AM The number of loans in COVID-19 forbearance plans last week rose for the third consecutive week during the period ended December 29. Black Knight said a 15,000-loan increase in the number of forborne loans brought the total to its highest level since early November. However, despite three consecutive weekly rises, the number of active plans only stands 13,00... (read more) Affordability Issues Expected to Dampen Home Price Gains Tue, Jan 5, 2021 11:06AM Home prices rose another 1.1 percent in November according to the CoreLogic report on its Home Price Index. The year-over-year gain was 8.2 percent , accelerating from the annual increase of 7.3 percent posted for October. The company said that home price growth remained consistently elevated throughout last year. Home sales are expected to finish the year a... (read more) Sales, Investor, Workflow Products; Training and Webinars From Home Tue, Jan 5, 2021 10:54AM 2021: Fifty years since the release of Led Zeppelin 4 (think Stairway to Heaven). In 1971 there were 208 million people living in the United States. Now there are approximately 330 million of us. The U.S. Census Bureau released its once-a-decade Population Estimates (2020) with the Vintage 2020 estimates being based on the 2010 Census and provide the opportu... (read more) Latest Video Fed will take foot off pedal in January 2022: Economist The Bond Report - 9am - January 05, 2021 We’re a long way from getting comfortable in markets due to the pandemic: M... Chicago Fed President: It will take years to get inflation to 2% Around the Web NAR - Realtor.com The Average Family Can't Afford To Own a Home in Most U.S. Counties, Study Finds CNBC Here's what's at stake for markets in the Georgia Senate runoff elections news.google.com Home Solar Is Growing, but Big Installers Are Still Losing Money - The New York Times NPR Georgia Senate Runoffs To Determine Which Party Controls Chamber Calculated Risk Blog Housing Inventory: Zillow vs. NAR NAHB Eye on Housing Consumer Confidence Falls to 4-month Low in December Calculated Risk Blog ISM Manufacturing index Increased to 60.7 in December CNBC Fate of $2,000 stimulus checks could be determined by Georgia Senate race Calculated Risk Blog CoreLogic: House Prices up 8.2% Year-over-year in November CNBC Why the Fed's inflation push could turn from friend to foe for the market this year news.google.com US Treasury to Allow Blockchains, Stablecoins for Bank Payments CNBC British Prime Minister Boris Johnson imposes national lockdown on England to combat new Covid variant Calculated Risk Blog Update: Framing Lumber Prices More Than Double Year-over-year

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