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 20, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman AE, MLO Jobs; VOA, Processing, Pricing, Marketing, Comp Webinar Tools; Investors' Agency Changes There are some who firmly believe that the Hubble Telescope was sent into space to spy on us. These people are better advised to wonder what Google is up to, without having a telescope. Mr. Cooper and Google Cloud are partnering to create a “cu... (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 Mortgage Rates Spooked By Taper Talk (Over)reaction 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: Inflation Expectations And Weaker Econ Data Helping Bonds UMBS 30YR 5.5 99.72 +0.08 Price / Yield Change MBS UMBS 5.5 99.73 +0.09 UMBS 6.0 101.52 +0.09 GNMA 5.5 99.93 +0.08 GNMA 6.0 101.42 +0.08 Pricing as of: 7/6 10:23PM EST 10 Year US Treasury 4.3339 -0.0128 Price / Yield Change US Treasury 2 YR Treasury 3.855 -0.028 5 YR Treasury 3.911 -0.026 7 YR Treasury 4.102 -0.023 10 YR Treasury 4.330 -0.017 30 YR Treasury 4.860 -0.003 Pricing as of: 7/6 10:23PM EST Latest Video Expect lumber volatility to continue, according to Sherwood Lumber COO Leading economic indicators up 1.6%, vs 1.3% estimate The 9am Bond Report - May 20, 2021 U.S. weekly jobless claims total 444,000, vs 452,000 estimate Around the Web Calculated Risk Blog Quarterly Starts by Purpose and Design Calculated Risk Blog Phoenix Real Estate in April: Sales Up 37% YoY, Active Inventory Down 67% YoY Reuters Stocks climb with tech shares, Treasury yields fall, cryptos bounce Brookings Institution A long-term view of COVID-19's impact on the rise of the global consumer class Calculated Risk Blog Hotels: Occupancy Rate Down 16% Compared to Same Week in 2019 CNBC U.S. reports fewer than 30,000 cases for five straight days, with the nation averaging 1.8 million daily vaccinations CNBC U.S. weekly jobless claims total 444,000, vs 452,000 estimate CNBC 10-year Treasury yield dips as investors digest Fed taper talk 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

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