Mortgage applications declined by the largest margin in three months during the week ended October 1. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, decreased 6.9 percent on a seasonally adjusted basis from one week earlier. It was the biggest decline since an identical loss during the week ended June 25. On an unadjusted basis, the Index was down 7 percent compared with the previous week. The Refinance Index accounted for the loss, dropping 10 percent compared to the previous week and was 16 percent lower than the same week one year ago. The refinance share of mortgage activity decreased to 64.5 percent of total applications from 66.4 percent the previous week. Purchasing was also down, but to a much lower extent . Both the seasonally

October 8, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for Oct 8, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 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 99.96 +0.04   95.05 100.62 UMBS 30YR 5.5 101.23 -0.06   97.47 101.61 10 YR Treasury 4.031 -0.010   3.621 4.780 MBS Price Change UMBS 4.5 98.04 +0.08 UMBS 5.0 99.96 +0.04 UMBS 5.5 101.23 -0.06 GNMA 4.5 98.16 +0.17 GNMA 5.0 100.20 -0.04 GNMA 5.5 101.20 -0.02 Pricing as of: 9/16 6:51PM EST US Treasury Yield Change 2 YR Treasury 3.503 -0.034 5 YR Treasury 3.586 -0.014 7 YR Treasury 3.771 -0.021 10 YR Treasury 4.031 -0.010 30 YR Treasury 4.652 -0.009 Pricing as of: 9/16 6:51PM EST Other News Mortgage Application Volume at Three-Month Low Wed, Oct 6, 2021 11:00AM Mortgage applications declined by the largest margin in three months during the week ended October 1. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, decreased 6.9 percent on a seasonally adjusted basis from one week earlier. It was the biggest decline since an identical loss during the week ended J... (read more) Equity and Rates Versus The Biggest Forbearance Expiration Wave Yet Tue, Oct 5, 2021 4:51PM Both CoreLogic and Black Knight have looked at the million plus home loans that are still in forbearance as the majority of those borrowers are quickly approaching the end of their eligibility. While their analyses have taken different tacks, they agree that servicers will need to work with borrowers to ease the exit from forbearance and prevent a wave of fo... (read more) Sales Jobs; LO, Customer, Non-Owner, CRM UW Productivity Products; Conforming Loan Amounts; Lawsuits Fri, Oct 8, 2021 10:21AM The definition of the word “holiday” seems open to debate, as some states, and companies, working on holidays like Monday’s. Words are important. It’s mortgage principal , not principle . Farther mostly referred to “distance,” and further mostly referred to “quantity or degree.” "How much farther do we have to ... (read more) Latest Video The 2pm Bond Report - October 8, 2021 The 9am Bond Report - October 8, 2021 Senate passes bill to increase debt limit through early December September jobs report: Only 194,000 jobs added vs. 500,000 estimate Around the Web Calculated Risk Blog 2nd Look at Local Housing Markets in September: Memphis, Nashville, North Texas (Dallas), Northwest (Seattle), Sacramento and Santa Clara (San Jose) Reuters Yields rise, stocks nudge higher after U.S. jobs data Calculated Risk Blog Q3 GDP Forecasts: Significant Downgrades CNBC Here's where the jobs are in one chart CNBC Covid cases dip below 100,000 a day in U.S. as nation faces colder weather and more closed-in spaces CNBC September's jobs report badly misses expectations with payrolls increasing by just 194,000 Reuters U.S. Senate approves temporary lift of debt ceiling, averts default CNBC 10-year Treasury yield briefly climbs above 1.6% ahead of key jobs report Calculated Risk Blog Homebuilder Comments in September: "Supply chain, supply chain, supply chain." Reuters Fed ready to handle September jobs report with kid gloves Calculated Risk Blog September Employment Preview CNBC Lawmakers have a deal on a short-term debt ceiling increase, Senate Majority Leader Schumer says Reuters Shares rise again as energy price dip eases stagflation fears

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