Despite newly lower interest rates, mortgage applications were lower during the week ended July 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, was 1.7 percent lower on a seasonally adjusted basis than the previous week and was down 2 percent on an unadjusted basis. The Refinance Index was also lower, declining by 2 percent from the previous week and was 3 percent lower than the same week one year ago. Refinancing continued to dominate activity with a 67.6 percent share of total applications, up from 67.5 percent during the week ended July 23. The Purchase Index decreased 2 percent on both an adjusted and unadjusted basis from the prior week. The unadjusted index was 18 percent lower than the same week in 2020. Refi

August 4, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 4, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Mortgage Applications Pull Back Despite Lower Rates Wed, Aug 4, 2021 10:46AM Despite newly lower interest rates, mortgage applications were lower during the week ended July 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, was 1.7 percent lower on a seasonally adjusted basis than the previous week and was down 2 percent on an unadjusted basis. The Refinance Inde... (read more) GSEs' Incomes Doubled Year-Over-Year Tue, Aug 3, 2021 5:43PM Each of the GSEs have posted strong financial results for the second quarter of 2021. Both Freddie Mac and Fannie Mae more than doubled their net income compared to a year earlier while Fannie Mae also set a record for single family home purchase acquisitions. Freddie Mac's net income was $1.9 billion higher than in the second quarter of 2020, rising to $3.6... (read more) MLO, Ops, AE Jobs; Processing, Analytics, Jumbo, Underwriting Tools; M&A and News From the Wholesale Channel Wed, Aug 4, 2021 10:51AM WalletHub released its 2021 Home Overleverage Report after determining where homeowners have the most unsustainable mortgage debts. WalletHub compared the median mortgage debt to the median income and median home value in more than 2,500 U.S. cities. Chester, PA, has the lowest median mortgage debt, $41,859, which is 18.6 times lower than in Beverly Hills, C... (read more) Latest Video The 2pm Bond Report - August 4, 2021 Treasury Sec. Yellen hits the road to promote White House economic agenda Fed's Clarida says central bank could start hiking rates in 2023 Final July Markit Services PMI comes in at 59.9 Around the Web Calculated Risk Blog Denver Real Estate in July: Sales Down 21% YoY, Active Inventory Down 37% YoY Reuters U.S. services sector growth accelerates despite supply constraints CNBC Fed Vice Chair Clarida anticipates rate hikes starting in 2023, sees upside risks to inflation CNBC The CDC extending the federal eviction moratorium is expected to cover about 90% of renters Calculated Risk Blog July Vehicles Sales Decreased to 14.75 Million SAAR CNBC Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate CNBC Treasury yields rise slightly with ADP employment data in focus Calculated Risk Blog Update: Framing Lumber Prices Down Year-over-year Reuters Slow slog in U.S. Senate for $1 trillion infrastructure bill Reuters 'Tug of war' as investors digest mixed market messages Fannie Mae Fannie Mae Second Quarter 2021 Earnings Media Call Remarks CNBC Household debt jumps by the most in 14 years to nearly $15 trillion in the second quarter Calculated Risk Blog NY Fed Q2 Report: Total Household Debt Increased in Q2 2021

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