Mortgage rates moved lower for the 2nd straight day, which brings them back in line with Monday's levels. While these aren't quite the lowest rates of the past 2 weeks, they're much closer than they were on Tuesday morning. That means the average lender is nearly able to offer the lowest rates since September 2017! In the slightly bigger picture, underlying bond markets seem to be consolidating after the aggressive move to lower rates 2 weeks ago. In other words, if we can look past some of the recent volatility, the general trend has been sideways for nearly 2 weeks now. This is a good thing because, again, the "sideways" is happening at long-term lows for rates. All things being equal, that's a sign that the market is at least willing to see rates move even lower. Whether or not rates do

June 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 Jun 13, 2019 Mortgage Rates Continue Easing Back Toward Long-Term Lows Thu, Jun 13, 2019 4:30PM Mortgage rates moved lower for the 2nd straight day, which brings them back in line with Monday's levels. While these aren't quite the lowest rates of the past 2 weeks, they're much closer than they were on Tuesday morning. That means the average lender is nearly able to offer the lowest rates since September 2017! In the slightly bigger picture, underlying bond markets seem to be consolidating after the aggressive move to lower rates 2 weeks ago. In other words, if we can look past some of the recent volatility, the general trend has been sideways for nearly 2 weeks now. This is a good thing ... (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 5.5 101.10 -0.18   97.47 101.61 UMBS 30YR 6.0 102.40 -0.13   99.66 102.50 10 YR Treasury 4.083 +0.043   3.621 4.780 MBS Live Day Ahead: Bonds Continue Fighting For Consolidation Ahead of Fed Thu, Jun 13, 2019 9:23AM In the day just past, bonds built on the Tuesday's strength following a correction to the weakest levels in more than a week.  10yr yields briefly made it as low as 2.11% before consolidating in a fairly perfect triangle/pennant for the rest of ... (read more) MBS Price Change UMBS 5.0 99.48 -0.30 UMBS 5.5 101.08 -0.20 UMBS 6.0 102.39 -0.15 GNMA 5.0 99.77 -0.30 GNMA 5.5 101.06 -0.13 GNMA 6.0 102.08 -0.10 Pricing as of: 9/9 5:21PM EST US Treasury Yield Change 2 YR Treasury 3.550 +0.063 5 YR Treasury 3.608 +0.046 7 YR Treasury 3.807 +0.038 10 YR Treasury 4.079 +0.040 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:21PM EST Other News MBA Announces Affordable Housing Initiative, Sees New Home Sales Rising Thu, Jun 13, 2019 11:30AM The Mortgage Bankers Association (MBA) released its regular monthly estimates for new home sales on Thursday and also announced a new initiative to promote affordable housing. The initiative, to be headed by Steven O'Connor, MBA's Senior Vice President for Public Policy and Industry Relations, is intended "to help develop stronger and more effective affordab... (read more) Lender Sentiment Shines, Rising Profits and a Positive Outlook Thu, Jun 13, 2019 8:14AM Lenders are singing a happier tune when it comes to their profit margin outlook with those hopes driven by rising confidence in mortgage demand. The net share of lenders' perceptions about both recent and upcoming demand has turned positive for the first time in nearly three years. Fannie Mae's Q2 Mortgage Lender Sentiment Survey saw net positive responses r... (read more) Credit Availability Rises for Fifth Consecutive Month Wed, Jun 12, 2019 8:13AM Mortgage access increased in May for the fifth consecutive month. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.9 percent to 189.5. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has two component indices, the G... (read more) Non-QM, Underwriting, Marketing Products; Borrower Satisfaction Tips; 1003 Pause Thu, Jun 13, 2019 8:49AM At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) are communicating that the optional use period for the redesigned Uniform Residential Loan Application (URLA) form and corresponding datasets will not begin on July 1, 2019 as previously scheduled. It will begin tomorrow! ... 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