The volume of applications for first mortgages grew by 4.9 percent on a seasonally adjusted basis during the first full week after Labor Day. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume increased 16 percent during the week ended September 17. The prior week's numbers had been adjusted to account for the holiday. The Refinance Index increased 7 percent from the previous week but was 5 percent lower than the same week one year ago. The refinance share of mortgage activity increased to 66.2 percent of total applications from 64.9 percent the previous week. The seasonally adjusted Purchase Index was 2 percent higher week-over-week and up 12 percent unadjusted. Volume was 13 percent lower than the same week one year ago. Refi

September 22, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman MBA, LO, AE Jobs; Non-QM, Jumbo, BPO, BE/Mand, Sales Products; Whole Loan/PSPA Execution Change Once a week it is Wednesday… but this one is noteworthy. An equinox is the instant of time when the plane of Earth's equator passes through the geometric center of the Sun's disk. That’s today, and is the official move from summer into a... (read more) Housing News Mortgage Applications Rise, Reflecting Improved Inventories The volume of applications for first mortgages grew by 4.9 percent on a seasonally adjusted basis during the first full week after Labor Day. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan applicati... (read more) Housing News Inventories Pushing Buyers Toward New Homes The Mortgage Bankers Association (MBA) estimates that there were 17 percent fewer applications for new home purchases in August than in July, but those applications were 9 percent greater year-over-year. The figures, gathered from MBA's monthly Build... (read more) Mortgage Rates Mortgage Rates Little-Changed Ahead of Fed Day 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: Powell Confirms Taper Timeline, But Bonds Barely Budge 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: 7/6 5:06PM 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: 7/6 5:06PM EST Latest Video Fed Chair Powell: Bond tapering could conclude by middle of 2022 Fed needs to start raising interest rates during 2022, says JPMorgan's Kell... Fed leaves rates unchanged, says taper may soon be warranted if progress co... Housing starts delayed, not falling: RE/MAX President Around the Web CNBC Half of the Fed members now see the central bank hiking rates next year Reuters Fed flags bond-buying taper 'soon,' rate hike shifts to 2022 Reuters U.S. Senate showdown vote on debt limit could come next week CNBC Why renters are struggling so much now Calculated Risk Blog AIA: "Architecture billings continue to increase" in August Reuters Fed likely to open bond-buying 'taper' door, but hedge on outlook CNBC Here's why the Evergrande crisis is not China's 'Lehman moment' CNBC Existing home sales fall 2% as first-time buyers are priced out Redfin Demand for Second Homes Fell 19% Year Over Year in August CNBC U.S. Treasury yields rise ahead of Fed decision CNBC Jamie Dimon warns it's possible the Fed could be forced into a sharp move next year CNBC The Fed will try to soothe markets Wednesday, while preparing investors for end to bond buying Calculated Risk Blog Prime Age Participation Rate

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