Mortgage originations are still finding much of their strength in the refinance sector even during those weeks when rates increase. The Mortgage Bankers Association (MBA) said the volume of mortgage applications increased last week even as purchase mortgage volume declined. MBA's Market Composite Index, a measure of mortgage loan application volume, increased 1.2 percent on a seasonally adjusted basis during the week ended May 14 and rose 1.0 percent before adjustment. The Refinance Index rose for the second straight week , increasing 4 percent although it was down 2 percent compared to the same week one year ago. The refinance share of mortgage activity increased to 63.3 percent of total applications from 61.3 percent during the week ended May 7. Both the seasonally adjusted and the unadjusted

May 19, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman Ops, MLO jobs; Marketing, Subservicing, HFA, Warehouse Products; Agency/GSE Changes Face facts: There are many differences between men and women. One of which is that when returning home from the grocery store, women typically are more level-headed and carry normal bag loads, whereas men typically carry as many bags as possible to s... (read more) Housing News Refi Volume Increases for Second Week Despite Rise in Rates Mortgage originations are still finding much of their strength in the refinance sector even during those weeks when rates increase. The Mortgage Bankers Association (MBA) said the volume of mortgage applications increased last week even as purchase m... (read more) Housing News Construction Starts Pulled Back in April Due to Supply Problems Housing starts fell back from the annual rate of 1,733,000 units reported for March. Residential starts in April were down 9.5 percent to a seasonally adjusted annual rate of 1,569,000 units. This was also a slight rollback for the March estimate, wh... (read more) Mortgage Rates Slow Start For Mortgage Rates This Week 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries MBS Live Recap: Questionable Taper Talk Conclusions Result in Heavy Selling UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/5 3:10PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/5 3:10PM EST Latest Video Federal Reserve: Inflation's rise because of transitory factors Fed not seeing anything new is very bullish, says David Katz on minutes The 9am Bond Report - May 19, 2021 Trading the homebuilders after largest drop in construction since start of ... Around the Web CNBC The Fed hinted it could reconsider easy policies if economy continues rapid improvement Calculated Risk Blog FOMC Minutes: Concern about "supply chain bottlenecks and input shortages" CNBC Taxes would likely rise for the wealthy regardless of Biden's plans Calculated Risk Blog Lawler: Is the "Owners' Equivalent Rent" Index Set to Accelerate Sharply? Reuters Fed meeting readout may highlight potential policy dilemma Calculated Risk Blog Lawler: Early Read on Existing Home Sales in April CNBC Lumber futures fall for an eighth-straight day, as speculation that took prices to a record unwinds Reuters Readout of Fed meeting may highlight potential policy dilemma Redfin Investor Home Purchases Rise for First Time in a Year as U.S. Economy Bounces Back Fannie Mae Supply Constraints Increasingly Come into Focus as GDP Approaches New High CNBC EU agrees to ease travel restrictions on non-EU tourists CNBC 10-year Treasury yield tops 1.66% with Fed meeting minutes in focus Federal Reserve Fed Releases

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