Mortgage rates moved moderately lower to start the new week as trade tensions remained in focus. In general, the worse the US/China trade relationship is looking at any given moment, the better it has been for the bond market (and the worse it's been for stocks). This is typical behavior for markets because stocks tend to benefit from growth and certainty while bonds tend to benefit when investors are uncertain, downbeat, or looking for safe havens to ride out volatility. As bonds 'benefit' from that demand, prices rise and rates fall. Today's drop brings the average lender back to the lowest rates since April 2. Despite the seemingly big move, Friday's rates weren't too much higher. In fact, many borrowers will be seeing the same interest rate at the top of a loan quote with the only difference

May 13, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for May 13, 2019 Lowest Mortgage Rates in More Than a Month Mon, May 13, 2019 4:37PM Mortgage rates moved moderately lower to start the new week as trade tensions remained in focus. In general, the worse the US/China trade relationship is looking at any given moment, the better it has been for the bond market (and the worse it's been for stocks). This is typical behavior for markets because stocks tend to benefit from growth and certainty while bonds tend to benefit when investors are uncertain, downbeat, or looking for safe havens to ride out volatility. As bonds 'benefit' from that demand, prices rise and rates fall. Today's drop brings the average lender back to the lowest ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Week Ahead: Data Returns While Trade Drama Backdrop Persists Mon, May 13, 2019 9:56AM In the week just past, markets were slavishly tuned-in to headlines and developments surrounding US/China trade relations .  This generally resulted in bond gains and stock losses.  The week, as a whole, represented an unexpected break fro... (read more) MBS Price Change UMBS 5.0 99.54 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.43 -0.11 GNMA 5.0 99.86 -0.22 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.05 -0.13 Pricing as of: 9/9 12:15PM EST US Treasury Yield Change 2 YR Treasury 3.543 +0.056 5 YR Treasury 3.610 +0.048 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.736 +0.045 Pricing as of: 9/9 12:15PM EST Other News VA Subpoenas Multiple Lenders Thu, May 9, 2019 8:11AM Just days after Ginnie Mae issued a Request for Input seeking advice on ways to tighten its regulations in regard to VA loans, it appears the government is taking stronger action. Ginnie Mae was pointing to higher than acceptable prepayment rates among streamline refinancing VA loans included in one of its securitization programs, especially those with high ... (read more) Condo Mortgage Business - Poised for a Breakout Thu, May 9, 2019 12:09PM Condominium loans represent only about 8 percent of total mortgages, a share that has remain fairly stable for several years. However, CoreLogic says they are poised to play a much larger role. Jacqueline Doty, writing in the company's Insights blog, says the loans, which are overwhelmingly (80 percent) conventional, have enjoyed recent gains. The changes ha... (read more) Lower Rates Boost Jumbo Credit Access Thu, May 9, 2019 10:35AM A big jump in jumbo loan lending drove an increase in mortgage credit availability in April. The Mortgage Bankers Association's Mortgage Credit Availability Index (MCAI) rose 2.1 percent in April to 186.1. An increase in the index indicates that lending standards are loosening. The Conventional MCAI increased 4.3 percent largely because of a 6.8 percent surg... (read more) Vendor Mgt., Reno, Pricing Products; Lender Disaster Updates Mon, May 13, 2019 9:08AM I want an Ethereum-powered home loan! It doesn’t matter that I don’t know what Ethereum is; apparently they’re on their way to NY and CA . “Tokenizing the house” doesn’t sound warm and friendly, but now you can add Fluidity and Propellr to the list of companies other lenders will fret about, or the list of fintech companie... 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