The gap in homeownership rates between white Americans and racial and ethnic minorities has persisted for years with the largest gap among black families. All demographic groups have seen their rates decline from the 2004 peak, but again decline since has been most dramatic for black Americans. Their rate has dropped 5 percent compared to 1 percent for white families and an increase among Hispanics. The rate for Millennial generation blacks is 13 percent today compared to 37 percent for white Millennials. Alana McCargo, writing in the Urban Institute's (UI's) Urban Wire Blog, says black homeownership rates are now at levels not seen since the 1960s when private raced-based discrimination was legal. She says this sustained gap has been studied, quantified and discussed thoroughly in recent years

February 20, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Feb 20, 2019 Mortgage Rates Near Long-Term Lows After Fed Minutes Wed, Feb 20, 2019 4:46PM Mortgage rates finally broke from their recent "back-and-forth" pattern of the past 7 business days and moved lower for the 2nd day in a row . Although today's big-ticket event for financial markets was the 2pm release of the Fed's most recent meeting minutes (or was it Samsung's foldable phone announcement?), rates were already lower well in advance of the Fed. This feat was accomplished simply because the bond market didn't change much from yesterday, and the fact that mortgage lenders didn't fully adjust rates to reflect bond market levels yesterday. To put that more simply: rates were good... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.72 +0.04   95.05 99.96 UMBS 30YR 5.5 101.09 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Day Ahead: Closer Look at Precedents For The Next Big Move Wed, Feb 20, 2019 9:18AM Yesterday, I mentioned that  it was rare to see short-term momentum technicals consolidate in the center of their "overbought vs oversold" range.  This refers to a fast stochastic oscillator--one of many ways that traders apply math the a t... (read more) MBS Live Recap: The Range May Be Breaking... Tue, Feb 19, 2019 5:17PM The range may be breaking!  Well, one of the ranges we've been tracking may be breaking, as long as tomorrow sees bond markets hold the gains they saw today.  Unfortunately, if that happens, it won't really mean that much--at least not yet.... (read more) MBS Price Change UMBS 4.5 97.76 +0.07 UMBS 5.0 99.73 +0.05 UMBS 5.5 101.10 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.96 +0.13 GNMA 5.5 100.97 +0.07 Pricing as of: 10/15 6:03PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.013 5 YR Treasury 3.619 +0.015 7 YR Treasury 3.803 +0.005 10 YR Treasury 4.031 +0.002 30 YR Treasury 4.625 -0.005 Pricing as of: 10/15 6:03PM EST Other News UI Addresses Disparity in Minority Homeownership Rates Wed, Feb 20, 2019 11:45AM The gap in homeownership rates between white Americans and racial and ethnic minorities has persisted for years with the largest gap among black families. All demographic groups have seen their rates decline from the 2004 peak, but again decline since has been most dramatic for black Americans. Their rate has dropped 5 percent compared to 1 percent for white... (read more) Mortgage Application Volume Makes a Return to Positive Territory Wed, Feb 20, 2019 8:14AM The Mortgage Bankers Association (MBA) said mortgage application volume rose for the first time in five weeks during the week ended February 7. MBA's Market Composite Index, a measure of that volume, increased 3.6 percent on a seasonally adjusted basis from the index for the week ended February 8. That index was revised, according to MBA, after additional da... (read more) Digital, Pricing Products; Retail Digital/Program News, loanDepot's Smartloan Wed, Feb 20, 2019 8:24AM Watch out for spam emails asking for your phone number. Seems like they are trying to get past the two-factor authentication that sends a six-digit code to cell phones. And please watch out for rogue capital markets people in the lunchroom microwaving grapes just for the thrill of it. Hint: it has to do with skin & water. And speaking of water, a new law... (read more) Latest Video Fed: Most agree to announce plan to reduce balance sheet Fed exactly where it should be, says investor Fed: Expecting slower growth in 2019 Around the Web NY Times Fed Offers More Clues About Interest Rate Pause Calculated Risk Blog California Existing Homes in January: "Home sales fall to lowest level in more than 10 years" Reuters Fed policymakers saw little risk from patient stance: minutes Federal Reserve Minutes of the Federal Open Market Committee, January 29-30, 2019 Calculated Risk Blog Phoenix Real Estate in January: Sales down 12% YoY, Active Inventory up 10% YoY CNBC We're about to find out why the Federal Reserve did its policy U-turn which ripped markets higher Calculated Risk Blog AIA: "Strong start to 2019 for architecture billings" Bloomberg Fed May Raise Rates in December, JPMorgan's Fitzsimmons Says CNBC Treasury yields fall amid US-China trade talks; Fed minutes in focus CNBC Investors are buying both stocks and bonds at the same time and the Federal Reserve is to blame Calculated Risk Blog Lawler: Early Read on Existing Home Sales in January Calculated Risk Blog Las Vegas: Convention Attendance and Visitor Traffic Declined Slightly in 2018 Bloomberg ECB Heavy Hitters Lay Groundwork for Response to Slowdown

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