Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous March by 3.7 percent. The annual growth rates in January and February were 4.4 percent and 4.0 percent respectively. On a month-over-month basis prices grew by 1.0 percent, the same as in January. Prices had spiked by 0.4 percent in February. The company's deputy chief economist Ralph McLaughlin said, "The U.S. housing market continues to cool, primarily due to some of our priciest markets moving into frigid waters. But the broader market looks more temperate as supply and demand come into balance. With mortgage rates flat and inventory picking up, we expect more buyers to take advantage of easing housing market headwinds ." Price increases continued

May 7, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for May 7, 2019 Lowest Mortgage Rates in a Month Mon, May 6, 2019 4:17PM Mortgage rates dropped noticeably this morning as financial markets opened sharply changed from Friday's latest levels thanks to Trump trade tweets over the weekend. The stock market dropped to its lowest levels in several weeks before bouncing back as the day progressed. As money flew out of stocks, it found a safe haven in the bond market. Mortgage rates are most directly affected by the bond market, and when demand for bonds increases, rates fall. The average lender was offering its best rates in roughly a month this morning. You'd have to go back to April 10th to see anything lower. And th... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.15 +0.02   97.47 101.61 UMBS 30YR 6.0 102.41 +0.02   99.66 102.50 10 YR Treasury 4.070 +0.004   3.621 4.780 MBS Live Day Ahead: Calendar Still Sparse as Trade Remains in Focus Tue, May 7, 2019 8:53AM In the day just past, a weekend Trump tweet announcing increased tariffs on China sent bond yields and stock prices much lower.  Both bounced back throughout the the day, but stocks bounced much more than bonds.  Right at the close, more tr... (read more) MBS Price Change UMBS 5.0 99.62 -0.01 UMBS 5.5 101.14 +0.01 UMBS 6.0 102.40 +0.00 GNMA 5.0 99.98 -0.02 GNMA 5.5 101.14 +0.00 GNMA 6.0 102.01 +0.00 Pricing as of: 9/15 8:45AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.001 5 YR Treasury 3.635 +0.004 7 YR Treasury 3.825 +0.009 10 YR Treasury 4.078 +0.012 30 YR Treasury 4.697 +0.016 Pricing as of: 9/15 8:45AM EST Other News Home Prices Grow by 3.7% in March, Expected to Pick Up Tue, May 7, 2019 10:52AM Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous March by 3.7 percent. The annual growth rates in January and February were 4.4 percent and 4.0 percent respectively. On a month-over-month basis prices grew by 1.0 percent, the same as in January. Prices had spik... (read more) Prepayment Rate Surges; Servicers Drop Ball on Retaining Customers Mon, May 6, 2019 8:44AM Prepayment rates historically tend to increase in the spring, but this year they have been exceptionally high. The rate has risen during March in 18 of the past 19 years with an average gain of 21 percent. In its March Mortgage Monitor Black Knight says that prepayment activity increased by a total of 40 percent in February and March and in March alone by 28... (read more) Ginnie Mae Seeks Input on Moderating VA Prepays Fri, May 3, 2019 1:10PM Ginnie Mae has issued a formal request for input regarding changes to its II Multi-Issuer Program (GII MIP). That program represents almost a third of the mortgage-backed securities (MBS) issued by the agency. The program uses an aggregation of loans from a wide variety of lender/servicer issuers and contains loans with a broad base of loan characteristics. ... (read more) Training, Reno, Underwriting, and Recruiting Products; Misc. Vendor News Tue, May 7, 2019 8:36AM If you want to have more of your financial future tied to lending, PennyMac Mortgage Investment Trust (PMT) announced the pricing of an underwritten public offering of 8,000,000 common shares . The Company intends to use the net proceeds from the offering for “general corporate purposes, including funding its investment activity, which may include inve... (read more) Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Bloomberg Global Bond Traders Are Betting Against the Latest Trump Threat NAR - Realtor.com The Hottest Markets of April 2019: All Fired Up Over Affordability CNBC 'Bond King' Jeffrey Gundlach says the national debt is 'totally out of control' Reuters China sends top negotiator to U.S. in bid to avert tariff hike Calculated Risk Blog Seattle Real Estate in April: Sales unchanged YoY, Inventory up 124% YoY from Low Levels CNBC Farmers feel the pain as lawmakers haggle over delayed disaster relief plan Bloomberg Fed Issues More Warnings on Danger of High-Risk Company Debt Bloomberg Global Bond Traders Are Betting Against the Latest Trump Threat Calculated Risk Blog CoreLogic: House Prices up 3.7% Year-over-year in March Reuters EU's Juncker say he trusts Trump on trade, needs quick U.S.-China deal Bloomberg Fed Issues More Warnings on Danger of High-Risk Company Debt Calculated Risk Blog Update: Framing Lumber Prices Down 35% Year-over-year Reuters Fed: U.S. stock prices elevated, business debt high, but financial system 'resilient'

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