Mortgage application volume fell sharply last week, the second decline of more than 6 percent in the past three weeks. Refinancing was down for the fourth straight week and the volume of purchase applications fell as well. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures volume, was down 6.3 percent on a seasonally adjusted basis from one week earlier and 6.0 percent before adjustment. Refinancing led the way down. That index retreated by 7 percent from the previous week's level and was 22 percent lower than the same week one year ago. Refinancing still dominated the market, although that share of applications decreased to 63.3 percent of total applications from 63.9 percent the previous week. The Purchase Index was 5 percent lower week-over-week on both

October 21, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman Recruiting, MLO Jobs; Processing, Automation, Pricing, MSR Sales, Non-Agency Products; Vendors to Watch Thousands of people in the residential lending biz headed to the San Diego aerodrome and flew home. Plenty were sore from wearing dress shoes everywhere, although I saw plenty of gals in flip flops while in transit. Guys are happy to stop wearing tie... (read more) Housing News Mortgage Application Volume Declines For Fourth Consecutive Week Mortgage application volume fell sharply last week, the second decline of more than 6 percent in the past three weeks. Refinancing was down for the fourth straight week and the volume of purchase applications fell as well. The Mortgage Bankers Associ... (read more) Housing News New Home Purchase Applications Fall as Construction Costs Rise The volume of applications for mortgages to purchase newly constructed homes plunged in September, falling 16.2 percent from the September 2020 level according to the Mortgage Bankers Association's (MBA's) Builder Application Survey (BAS.) Compared t... (read more) Mortgage Rates Mortgage Rates Hold Steady Near Multi-Month Highs 30 Yr. Fixed Rate 6.82% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% -0.01 0.00 15 Yr. Fixed 6.07% -0.01 0.00 30 Yr. FHA 6.40% -0.01 0.00 30 Yr. Jumbo 6.92% -0.01 0.00 7/6 SOFR ARM 6.31% -0.01 0.00 30 Yr. VA 6.42% 0.00 0.00 Updates Daily - Last Update: 7/17 15 Yr. Fixed Rate 6.07% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries MBS Live Recap: Fear of The I-Word UMBS 30YR 5.5 99.13 +0.07 Price / Yield Change MBS UMBS 5.5 99.12 +0.06 UMBS 6.0 101.12 +0.06 GNMA 5.5 99.41 -0.05 GNMA 6.0 101.10 -0.06 Pricing as of: 7/17 6:00PM EST 10 Year US Treasury 4.4528 -0.0065 Price / Yield Change US Treasury 2 YR Treasury 3.905 +0.016 5 YR Treasury 3.991 -0.005 7 YR Treasury 4.210 -0.003 10 YR Treasury 4.453 -0.007 30 YR Treasury 5.008 -0.006 Pricing as of: 7/17 6:00PM EST Latest Video Existing home sales rises to 7%, beating estimates The 9am Bond Report - October 21, 2021 Initial jobless claims down 6,000 to 290,000, a post-Covid low The 2pm Bond Report - October 20, 2021 Around the Web CNBC Fed's Bostic sees interest rate hike coming next year as inflation lingers Reuters Fed bans stock trading, restricts other investing activities by top officials Calculated Risk Blog Hotels: Occupancy Rate Down 10% Compared to Same Week in 2019 Calculated Risk Blog NAR: Existing-Home Sales Increased to 6.29 million in September Joint Center for Housing Studies Gains in Remodeling to Remain Robust CNBC Jobless claims fall again as enhanced pandemic benefits fade away CNBC 10-year Treasury yield holds above 1.64% ahead of weekly jobless claims data Redfin Housing Market Update: Fast Sales Increasingly Common This Fall Calculated Risk Blog Fed's Beige Book: "Residential real estate activity was unchanged or slowed slightly" CNBC 6 reasons why Americans aren't returning to work Federal Reserve Quarles, How Long is Too Long? How High is Too High?:Managing Recent Inflation Developments within the FOMC's MonetaryPolicy Framework Calculated Risk Blog AIA: "Demand for design services continues to increase" in September CFPB CFPB Joins Other Financial Regulatory Agencies in Issuing Statement on Discontinuation of LIBOR

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