An uptick in mortgage rates was blamed by the Mortgage Bankers Association (MBA) for the first decline in mortgage applications in three weeks. MBA's Market Composite Index, a measure of mortgage loan application volume, decreased 2.5 percent on a seasonally adjusted basis during the week ended March 1. The prior week, which ended February 22, included an adjustment for the Presidents' Day holiday. On an unadjusted basis, the Index increased 10 percent. The Refinance Index decreased 2 percent from the previous week and the share of refinancing applications shrank from 40.4 percent of those submitted to 40.0 percent. The seasonally adjusted Purchase Index dipped 3 percent from one week earlier but was up 11percent on an unadjusted basis. The unadjusted index was 1 percent higher than during

March 6, 2019 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 Mar 6, 2019 Mortgage Rates Improved Today Tue, Mar 5, 2019 4:55PM After a pretty rough conclusion last week, yesterday's stability was a welcome change for mortgage rates at the start of the new week. Today made things slightly better as the average lender improved modestly. This puts today's rate quotes back in line with those seen last Thursday afternoon. More importantly, rates managed to hold their ground despite the presence of strong economic data this morning. Whether we're talking about the Fed or the average bond market investor, most everyone is intently focused on the economy at the moment--waiting to see if it will reaccelerate or begin to show s... (read more) Mortgage Rates Continue Repairing Last Week's Damage Wed, Mar 6, 2019 4:42PM Mortgage rates improved again today, bringing them back to the lowest levels seen since last Thursday morning. Starting last Wednesday, we saw a fairly fast rate spike through the end of the week followed by 3 days of relative calm so far in the current week. The average lender has a bit farther to go to get back to the lowest of the recent lows seen at the beginning of last week. Whether or not they're able to get there may depend on the next two days of important scheduled events. These include a policy announcement from the European Central Bank (ECB) tomorrow morning and the release of the... (read more) 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 Live Day Ahead: What's Up With Stocks Versus Bonds Recently? Wed, Mar 6, 2019 10:31AM If you're a frequent reader, you're likely tired of hearing about "the range."  Such is life when bonds are range-bound, but that doesn't mean we can't change things up.  Let's check in with the good old stock lever (our shorthand reference... (read more) MBS Live Recap: Widespread Reprices as Bonds Start Weak, Finish Strong Tue, Mar 5, 2019 7:27PM The bond market was already in the process of holding ground in the overnight session and domestic trading hours only added to the resilience.  It may not have seemed overly obvious at first--especially when the day's biggest victory occurred when yields were in the process of holding sideways in WEAKER territory. What's up with big victories coincidi... (read more) 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 7:43PM 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 7:43PM EST Other News Mortgage Apps: Higher-End Buyers Readying for Spring Market Wed, Mar 6, 2019 8:14AM An uptick in mortgage rates was blamed by the Mortgage Bankers Association (MBA) for the first decline in mortgage applications in three weeks. MBA's Market Composite Index, a measure of mortgage loan application volume, decreased 2.5 percent on a seasonally adjusted basis during the week ended March 1. The prior week, which ended February 22, included an ad... (read more) Underwriting, Temp Buydown Products; Upcoming Events; Capital Markets Update Wed, Mar 6, 2019 9:39AM As most of us gird our loins for “springing ahead” this weekend, it is important to remember that U.S. citizens are, in general, a giving people. Thank you to John Johnson, Chairman and CEO of Birmingham’s MortgageAmerica, for passing along this site to anyone who’d like to donate to help the victims of the tornadoes in Alabama. Meanw... (read more) Latest Video Fed: Half of districts say shutdown slowed growth Fire-resistant homes could be answer to California's growing wildfire probl... NY Fed's Williams: Growth to slow considerably this year to 2 percent December trade deficit surges to $59.8B, above 57.3B estimates Around the Web NAR - Realtor.com Which Real Estate Markets Were Hotor Notin February 2019? NAHB Eye on Housing Conventional Loan Market Share Hits 10-Year High NAR - Realtor.com Older Americans Flock to Rentals, and Here's Why Reuters Tariffs, U.S. government shutdown weigh on still-growing economy: Fed Bloomberg Americans Blame Wall Street for Making American Dream Harder to Achieve CNBC Fed's Williams: 'New normal' of slow growth will keep Fed patient Calculated Risk Blog Las Vegas Real Estate in February: Sales Down 7% YoY, Inventory up 105% YoY CNBC ECB set to lower its outlook and could hint at new cheap loans for banks consumerfinancemonitor.com Kraninger appearance at March 7 House Financial Services Committee hearing to be followed by panel of witnesses Reuters U.S. trade deficit hits 10-year high in 2018 on record imports Reuters Talks on amending Brexit deal difficult, no solution in sight: EU Reuters U.S. trade deficit jumps to 10-year high in 2018 CNBC Private payrolls up 183,000, missing estimates, and Moody's economist says jobs may have peaked

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