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: 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 27, 2019 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 99.69 +0.02   95.05 99.96 UMBS 30YR 5.5 101.10 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Day Ahead: If They Were Smart, Congress Should Ask Powell This Question Wed, Feb 27, 2019 9:52AM 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 Live Recap: Bonds Rally Back to Range Lows With or Without Powell Tue, Feb 26, 2019 5:23PM 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 about attention in a relative sense).  Overall, today's trading range was very narrow in the bigger picture... (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 Mortgage Apps Surge in Response to Lower Rates Wed, Feb 27, 2019 8:14AM 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 holida... (read more) More Than a Third of Millennials are Sharing Housing Wed, Feb 27, 2019 9:56AM 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 Siniayskaia,, writing in the National Association of Home Builders (NAHB) Eye on Housing blog, says the ACA da... (read more) A Surprise in Pending Sales Kicks Off 2019 Wed, Feb 27, 2019 10:27AM 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 , climbing to 103.2 in January from 98,7 in December. It was the first gain in four months. The surge was not enough ho... (read more) Digital products; Wholesale News Across the Biz; Zillow and Chase News Wed, Feb 27, 2019 9:04AM 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: competition/shrinking margins, and home buying cooling off. “A tough time to be in the business”? Companie... 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