Mortgage applications increased for the second week as interest rates again ticked lower at well under 5 percent. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, increased 5.3 percent on a seasonally adjusted basis during the week ended February 22. As that week began with the President's Day holiday, data was adjusted to account for the shortened week. On an unadjusted basis, the Index was down 3 percent compared with the week ended February 15. The seasonally adjusted Purchase Index increased 6 percent from one week earlier while the unadjusted version ticked down 1 percent week-over-week and was 3 percent higher than the same week one year ago. The Refinance Index increased 5 percent and the refinance share of mortgage activity

February 27, 2019 Download our Mobile App: Download our Mobile App: Rob Chrisman Digital products; Wholesale News Across the Biz; Zillow and Chase News As opposed to HomeBridge Financial, which appears to be buying HomeStreet’s origination biz, it is no secret that JPMorgan Chase isn’t an ardent fan of residential mortgage lending. This slide in its investor deck spells out why: competit... (read more) Housing News Mortgage Apps Surge in Response to Lower Rates Mortgage applications increased for the second week as interest rates again ticked lower at well under 5 percent. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, increased 5.3 percent on a s... (read more) Housing News More Than a Third of Millennials are Sharing Housing More than a year has elapsed since the Census Bureau collected data for its most recent (2017) American Community Survey (ACS), but unless things have changed drastically in that time, the nation is still waiting for Millennials to "launch." Natalia ... (read more) Housing News A Surprise in Pending Sales Kicks Off 2019 Expectations were high for a strong pending home sales report to christen the New Year. Those expectations were more than satisfied. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) jumped 4.6 percent , climbin... (read more) MBS Commentary MBS Live Day Ahead: If They Were Smart, Congress Should Ask Powell This Question Today brings a 2nd day of congressional testimony with Fed Chair Powell, this time before the House Financial Services Committee.  The economic IQ varies widely among those committee members.  While we'll no doubt hear some hilariously bad ... (read more) MBS Commentary MBS Live Recap: Bonds Rally Back to Range Lows With or Without Powell Despite a fair amount of anticipation, today's Powell testimony proved to be a non-event for the bond market.  Instead, things like the weak Housing Starts data and strong Consumer Confidence got far more attention (as long as we're talking ab... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 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 UMBS 30YR 5.5 99.70 -0.15 Price / Yield Change MBS UMBS 5.5 99.70 -0.15 UMBS 6.0 101.46 -0.10 GNMA 5.5 99.89 -0.08 GNMA 6.0 101.19 -0.22 Pricing as of: 7/3 10:45AM EST 10 Year US Treasury 4.3314 +0.0516 Price / Yield Change US Treasury 2 YR Treasury 3.875 +0.087 5 YR Treasury 3.926 +0.059 7 YR Treasury 4.112 +0.055 10 YR Treasury 4.330 +0.050 30 YR Treasury 4.845 +0.037 Pricing as of: 7/3 10:45AM EST Latest Video Powell: We're close to an agreement on balance sheet plan Powell: Bank mergers are the lowest in 15 years Pending home sales beat estimates, rising 4.6 percent Around the Web Reuters Theresa May gains two weeks' Brexit reprieve from British lawmakers Bloomberg U.S. Wage Growth Is Higher Than We Think', Fed Researchers Say Bloomberg Toll Brothers Orders Plunge as California Buyers Vanish Reuters U.S. Commerce Department to publish fourth-quarter GDP report Thursday CNBC Spring housing market could be 'coolest in recent years,' Realtor.com says NPR Oregon Set To Pass The First Statewide Rent Control Bill CNBC Fed Chair Powell says balance sheet decision market is waiting for is 'close' to happening CNBC Buying a home for the first time? Avoid these mistakes CNBC Trade deficit in goods jumps 12.8 percent amid tariff battle CNBC US Treasury yields move higher ahead of another Powell speech Reuters You don't need a PhD anymore to read Fed's statements Reuters Fed's Powell says 'no rush' to hike rates in 'solid' but slowing economy Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices

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