Mortgage rates have been putting on a rather frustrating and exciting show in the month of August. On the one hand, they're at or near their lowest levels in 3 years. On the other hand, they're not nearly as low as you'd expect them to be based on movement in markets that almost always track mortgages in lock-step. The 10yr Treasury yield, above all other interest rates has long been thought to dictate mortgage rate movement. That's a complicated thesis to evaluate, because it's true and false at the same time. It's certainly true that Treasuries set the tone for almost any interest rate in the US. They're like an aircraft carrier and other rates are like planes, helicopters, soldiers, rafts, boats, and unmanned submersibles that are along for the ride. At any given time, mortgage rates may

August 28, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch No, Mortgage Rates Aren't Based on 10yr Treasury Yields Mortgage rates have been putting on a rather frustrating and exciting show in the month of August. On the one hand, they're at or near their lowest levels in 3 years. On the other hand, they're not nearly as low as you'd expect them to be based on mo... (read more) Housing News Homeownership is the Top Contributor to Household Wealth Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account . While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of ... (read more) MBS Commentary MBS Live Day Ahead: Is The Rally Losing Steam? In the day just passed, traders focused on the yield curve--an opaque term that officially refers to the entire curve of bond yields versus bond duration, but that everyone unofficially agrees to be a reference to the 2yr vs 10yr spread unless otherw... (read more) Housing News Rates Increase For First Time Since July, Application Volume Slips Mortgage rates increased last week and in response the volume of applications ratcheted down significantly. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, dropped 6.2 percent on a seasonally a... (read more) Rob Chrisman Ginnie Pooling, Credit and Broker Products; Wholesale News For readers who deny climate change is real, natural or manmade, sinking cities around the world (including Houston and New Orleans ) can be attributed to groundwater issues (public and private wells pulling water out of aquafers), another long-term ... (read more) Housing News Home Price Gains Trending Down to "Sustainable Levels" Both the S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reported June price data on Tuesday. Both sets of indices showed the trend of decelerating prices continued into the summer, but appreciation in the FHFA index is s... (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 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 2:19PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 2:19PM 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 CNBC Southern California sees strongest July home sales in four years, thanks to lower mortgage rates Calculated Risk Blog Zillow Case-Shiller Forecast: Lower YoY Price Gains in July compared to June Bloomberg More U.S. Homebuyers Say They Expect a Recession by Next Year - Bloomberg CNBC People who brought homes in the past 2 years could see 'significant' savings by refinancing now Bloomberg Italian Yields Tumble to Record Low as Coalition Deal Seen Near CNBC Yield inversion 'isn't just a switch' for recession, and may not be a signal at all this time Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in June Bloomberg Dudley Sparks Debate About the Role of the Fed in the Age of Trump Bloomberg Want to Fight Foreclosure? Good Luck After Ditech's Bankruptcy - Bloomberg Reuters Fed divided on policy, discount rate votes show Reuters U.S. yield inversion deepens, stokes recession fears Reuters Fed rejects call to deny Trump rate cuts; Trump keeps up pressure Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices

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