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 6, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jan 6, 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 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.51 -0.08   95.05 100.47 UMBS 30YR 5.5 101.03 +0.00   97.47 101.61 10 YR Treasury 4.113 +0.032   3.706 4.780 MBS Live Recap: Crazy Day For Bonds. Is The Worst Over? Wed, Jan 6, 2021 4:49PM Crazy Day For Bonds. Is The Worst Over? For 2 straight months, and especially over the past few weeks, we've been calling out the Georgia senate election as the biggest ticket market mover for bonds.  It proved its importance today as 10yr yields broke above 1.0% for the first time since March 2020.  Selli... (read more) MBS Price Change UMBS 4.5 97.43 -0.20 UMBS 5.0 99.49 -0.09 UMBS 5.5 101.05 +0.02 GNMA 4.5 97.53 -0.49 GNMA 5.0 99.71 -0.12 GNMA 5.5 100.92 +0.04 Pricing as of: 9/18 12:39PM EST US Treasury Yield Change 2 YR Treasury 3.570 +0.006 5 YR Treasury 3.671 +0.015 7 YR Treasury 3.863 +0.024 10 YR Treasury 4.116 +0.036 30 YR Treasury 4.734 +0.046 Pricing as of: 9/18 12:39PM EST Other News 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) 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) Correspondent, MLO Jobs; Staffing, Compliance, MI Products; Agency Forbearance Uncertainty Wed, Jan 6, 2021 10:58AM Would you rather loan $200,000 to a Danish buntmager (furrier) or the United States Government? Well, while the industry is digesting the news that Guaranteed Rate has entered into a definitive agreement to acquire Stearns Holdings, LLC, from funds managed by Blackstone, and before you answer this pop quiz on risk, you should know that the U.S. 10-year &ldqu... (read more) Latest Video Fed: Economic activity remains well below levels at start of year Georgia's special Senate runoff races are nearly too close to call — Here's... McConnell: If we overrule the voters, it would damage our republic forever Protestors and police in standoff at House chamber door Around the Web Calculated Risk Blog FOMC Minutes: "Uncertainty surrounding the economic outlook" CNBC Buildings in U.S. Capitol complex evacuated amid pro-Trump protests CNBC Federal Reserve releases minutes from December meeting Federal Reserve Minutes From Dec 16th Fed Meeting Calculated Risk Blog December Vehicles Sales increased to 16.27 Million SAAR; Annual Sales off 14.7% Calculated Risk Blog Las Vegas Real Estate in December: Sales up 27% YoY, Inventory down 38% YoY CNBC Private payrolls post first drop since April as coronavirus spread hits job growth, ADP says CNBC 10-year Treasury yield holds above 1% as traders watch Georgia runoff results 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

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