Mortgage rates were unchanged for many lenders today which is utterly and completely shocking given the other market developments that tend to coincide with rates moving lower. Specifically, stocks tanked and 10yr Treasury yields plummeted to the lowest levels since September 2016. For anyone under the impression that 10yr yields dictate the direction of mortgage rates without exception, it's high time to reassess that worldview. The bottom line is that rates are doing an absolutely terrible job of keeping pace with the rally in the broader bond market. The " Temporary Note on Mortgage Rate Inconsistency " below will be informative in that regard. With that in mind, many lenders were unchanged today for slightly less complicated reasons. Sure, underlying mortgage bonds didn't improve as quickly

August 15, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are a Mess! Mortgage rates were unchanged for many lenders today which is utterly and completely shocking given the other market developments that tend to coincide with rates moving lower. Specifically, stocks tanked and 10yr Treasury yields plummeted to the low... (read more) MBS Commentary MBS Live Day Ahead: Active Day For Data In the day just passed, bond markets primarily reacted to overseas economic data with many of the reports in Europe coming in flat to weaker.  Combined with the weakest Chinese manufacturing data in years, it was enough to push bonds through rec... (read more) Housing News New FHA Rule Will Ease Condo Approval Process The long-waited Federal Housing Administration (FHA) rule regulating condominium lending was finalized Wednesday afternoon. The Department of Housing and Urban Development (HUD), the parent agency of FHA, published the final regulation and the policy... (read more) Rob Chrisman Digital, Reno Products; Originator Survey; FHA Condo Update Plenty of economists watch builder activity and mood swings as early indicators of future economic health. Builder confidence in the single-family 55+ housing market continued in positive territory in the second quarter of 2018, according to the HMI ... (read more) Housing News Refinance Spree Continues with Rates at Near 3-Year Lows The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage application volume, rose 21.7 percent on a seasonally adjusted basis during the week ended August 9. MBA attributed the substantial decline in interest rate... (read more) Housing News Loan Performance Responds to Slowing Economy, Natural Disasters Both the Mortgage Bankers Association (MBA) and CoreLogic issued data on recent loan performance on Tuesday. For CoreLogic the Monthly Loan Performance Report covered May, MBA's National Delinquency Survey is for the second quarter of this year. MBA ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.68 +0.04 Price / Yield Change MBS UMBS 5.5 99.68 +0.04 UMBS 6.0 101.47 +0.04 GNMA 5.5 99.89 +0.03 GNMA 6.0 101.38 +0.03 Pricing as of: 7/7 6:46AM EST 10 Year US Treasury 4.3497 +0.0030 Price / Yield Change US Treasury 2 YR Treasury 3.868 -0.015 5 YR Treasury 3.927 -0.010 7 YR Treasury 4.121 -0.004 10 YR Treasury 4.350 +0.003 30 YR Treasury 4.880 +0.016 Pricing as of: 7/7 6:46AM EST 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 Calculated Risk Blog CAR on California: "California home sales perk up in July" CNBC Growth forecasts are rising and the economy looks nowhere near as bad as the bond market predicts Bloomberg Traders Have Been Gripped by Once-in-a-Generation Dash to Safety - Bloomberg CNBC Mohamed El-Erian: Inverted yield curve recession signal is 'distorted' this time around NAHB Eye on Housing Seriously Delinquent Loans Increase CNBC Falling mortgage rates boost homebuilder confidence, but not new construction consumerfinancemonitor.com HUD Throws in the Towel on Down Payment Assistance Revisions Calculated Risk Blog Weekly Initial Unemployment Claims increased to 220,000 CNBC US retail sales rose solidly in July in a sign of consumer optimism Redfin Home Prices Up 3 Percent in July as Supply Fell 3 PercentThe Largest Decline in a Year CNBC US 30-year Treasury yield falls below 2% for first time ever CNBC Home buyers are taking advantage of falling rates, says housing market analyst Ivy Zelman Calculated Risk Blog Don't Freak Out about the Yield Curve

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