Mortgage rates had to endure some paradoxical momentum and delayed reaction to the broader bond market rally lately, but now, it's payback time! Not only have mortgagees been able to move lower over the past 4 days, but they've done so even as Treasury yields remained flat. More simply put, 10yr Treasury yields ended the day just over 1.45% on last Wednesday. Today's comparable closing level of 1.46%. Mortgage rates, on the other hand, are down 0.08-0.11% over the same time frame, depending on the lender. While it's not a massive improvement versus Friday's latest levels, today's average offering is nonetheless the best in 3 years. Loan Originator Perspective Bonds were boosted by weak ISM data this morning, and both treasuries and MBS held their gains through closing. My pricing was incrementally

September 4, 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 Sep 4, 2019 Mortgage Rates Set Another Long-Term Low Tue, Sep 3, 2019 5:05PM Mortgage rates had to endure some paradoxical momentum and delayed reaction to the broader bond market rally lately, but now, it's payback time! Not only have mortgagees been able to move lower over the past 4 days, but they've done so even as Treasury yields remained flat. More simply put, 10yr Treasury yields ended the day just over 1.45% on last Wednesday. Today's comparable closing level of 1.46%. Mortgage rates, on the other hand, are down 0.08-0.11% over the same time frame, depending on the lender. While it's not a massive improvement versus Friday's latest levels, today's average offer... (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 Day Ahead: MBS Tightening Underway; Range-Bound Treasuries Wed, Sep 4, 2019 9:15AM In the day just passed, bonds rallied to start the overnight session, largely following Brexit-related trading in Europe.  Yields rose moderately heading into the domestic session, but were quickly slammed down to multi-year lows by the incredibly weak ISM Manufacturing numbers.  After that, there was another gradual give-back heading into the clos... (read more) MBS Price Change UMBS 5.0 99.52 -0.25 UMBS 5.5 101.15 -0.13 UMBS 6.0 102.46 -0.08 GNMA 5.0 99.87 -0.20 GNMA 5.5 101.11 -0.08 GNMA 6.0 102.09 -0.10 Pricing as of: 9/9 12:02PM EST US Treasury Yield Change 2 YR Treasury 3.537 +0.049 5 YR Treasury 3.605 +0.043 7 YR Treasury 3.809 +0.040 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.732 +0.041 Pricing as of: 9/9 12:02PM EST Other News How do Investors Impact Homeownership? Wed, Sep 4, 2019 8:31AM The Urban Institute (UI) says the recent surge of investor purchases of single-family homes is raising related policy issues. In blog post examining those purchases, UI analysts Ellen Seidman and Sheryl Pardo ask three questions. 1. Are investors taking homeownership opportunities away from individuals and families? 2. Are investors creating and maintaining ... (read more) Purchase Volume Rises Despite Market Volatility Wed, Sep 4, 2019 8:09AM Mortgage application volume declined for the third consecutive week during the period ended August 30. The Mortgage Bankers Association said its Market Composite Index, a measure of that volume, was down 3.1 percent on a seasonally adjusted basis from the week ended August 23 and was 4.0 percent lower before adjustment. Refinancing slacked off for the second... (read more) Home Prices are on the Rise Again Tue, Sep 3, 2019 9:46AM A second housing price index is showing an uptick in the rate of appreciation, possibly because interest rates declines have begun to mitigate affordability issues. CoreLogic says its Home Price Index for July was up 3.6 percent in July, the annual increase in June, was 3.4 percent. On a month over month basis the gain was 0.5 percent compared to an increase... (read more) Broker, HELOC, Warehouse, Non-QM Products; LOS survey; Vendor News Wed, Sep 4, 2019 9:04AM Would you transfer a quarter million smackers if your boss told you to? Let’s just remind every lender, and every bank: you have the money and others want it. Here a scammer successfully “deep faked” a CEO's voice to fool an underling into transferring $243,000. Yes, rates are great (Fed Funds are 2.25%, but the 2 year T-Bill yield is about... (read more) 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 BLS: Employment Projections: 2018-2028 Bloomberg Home Bidding Wars Hit Eight-Year Low as Buyers Lose Confidence - Bloomberg Reuters Fed's Williams says will act as appropriate to keep economy on track Reuters In subtle differences, hints of robust Fed rate-cut debate Reuters U.S. economy growing modestly as trade war dents activity: Fed Bloomberg Bank of Canada Balks at Joining Global Policy Easing Trend NAHB Eye on Housing A Smaller Share of Prospective Buyers Is Actively Looking for a Home CNBC NY Fed President John Williams says low inflation is 'the problem of this era' Calculated Risk Blog Trade Deficit decreased to $54.0 Billion in July Reuters To cut or not? Dueling Fed views boost pressure on Powell Bloomberg Fed's Rosengren Sees No Need for 'Immediate Policy Reaction' Reuters U.S. Treasury yields drop, stocks slide as global slowdown fears loom Reuters Fed's balance sheet could end up higher than $4 trillion: projections

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