The shrinking rate of home price increases that has headlined the price data from most sources for months may have ended, at least according to CoreLogic Home Price Index (HPI), and the company is seeing more aggressive appreciation in the future . The HPI for May increased by 3.6 percent on an annual basis, up from a 3.5 percent gain in April. The month-over-month change was 0.9 percent. Frank Nothaft, CoreLogic's chief economists said, " Interest rates on fixed-rate mortgages fell by nearly one percentage point between November 2018 and this May. This has been a shot-in-the-arm for home sales . Sales gained momentum in May and annual home-price growth accelerated for the first time since March 2018." The states with the highest increases were Idaho, up 10.7 percent and Utah with a 7.8 percent

July 2, 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 Jul 2, 2019 Mortgage Rates Edging Lower Ahead of Potential Volatility Tue, Jul 2, 2019 3:33PM Mortgage rates moved down today by varying amounts depending on the lender. In some cases, lenders weren't offering much of an improvement over yesterday. Those lenders are more likely to improve tomorrow, or at least we can say they'll be starting with an advantage. Other lenders made use of their advantage today. The advantage in question came courtesy of a strong performance in the bond market today. When bonds improve enough, lenders are increasingly likely to re-price their rate sheet offerings for the better. This rarely affects the interest rate itself, but it can reduce closing costs b... (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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.51 -0.03   99.66 102.51 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Recap: With Shorter Lines, Bonds Get More Time on Favorite Rides Tue, Jul 2, 2019 4:55PM In the amusement park that is financial markets, each asset class has a few favorite rides.  When the place is packed, it's tough for any given asset class to take too many turns on any given ride within a certain amount of time.   A big old rally is the bond market's favorite ride, but an ample supply of warm bodies at trade desks often serv... (read more) MBS Price Change UMBS 5.0 99.74 -0.04 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.05 -0.03 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/8 10:24PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.009 5 YR Treasury 3.571 +0.009 7 YR Treasury 3.775 +0.006 10 YR Treasury 4.047 +0.008 30 YR Treasury 4.699 +0.009 Pricing as of: 9/8 10:24PM EST Other News Lower Interest Rates are Helping Home Prices, Sales Tue, Jul 2, 2019 11:26AM The shrinking rate of home price increases that has headlined the price data from most sources for months may have ended, at least according to CoreLogic Home Price Index (HPI), and the company is seeing more aggressive appreciation in the future . The HPI for May increased by 3.6 percent on an annual basis, up from a 3.5 percent gain in April. The month-ove... (read more) Prepayments and Refinancing Reflect a Friendly Falling Rate Environment Mon, Jul 1, 2019 9:24AM May mortgage performance data indicates that the mortgage finance industry might consider shifting priorities for a while. Black Knight, in the current edition of its Mortgage Monitor, points to the heavy prepayment risk for especially for adjustable rate mortgage (ARM) borrowers shown in the report and the growing pool of financeable mortgages. It is time, ... (read more) Single-Family Construction Spending Gets Hit Hard, Down From Last Year Mon, Jul 1, 2019 11:59AM Construction spending in May, dipping 0.8 percent compared to April's seasonally adjusted annual rate of $1.304 trillion to $1.294 trillion. On an annual basis, overall spending is down 2.3 percent on an annual basis and residential spending is off 11.2 percent. On an unadjusted basis, there was a total of $113.03 billion spent during the month and $498.89 h... (read more) Controller and LO Jobs; Recruiting, Training Products; VA, FHA Industry Shifts Tue, Jul 2, 2019 10:10AM This weekend I helped my son change apartments in San Francisco, and all over were billboards for ZeroDown.com : “Smartest Way to Buy a Home.” And if there is one market where a help system is needed, that would be the Bay Area. One must watch those “S” words. In yesterday’s commentary I noted musings out there about Freddie and... 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