Mortgage rates managed to hold on to the improvements seen yesterday. This was far from a certainty yesterday afternoon as the underlying bond market had ebbed into weaker territory after hitting much stronger levels earlier in the day. The timing was such that most lenders simply waited for this morning to adjust rate sheets in a modestly unfriendly direction. But that likelihood depended on the bond market remaining at yesterday afternoon's levels. It didn't. As the day progressed, bonds improved. The biggest jump followed weaker economic data in the form of the Consumer Confidence report at 10am ET. Bonds continued to benefit from investors seeking safe havens as the stock market moved lower at its fastest pace in a month . All of the above leaves the mortgage market in essentially the opposite

September 24, 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 Sep 24, 2019 Mortgage Rates Manage to Hold Near Weekly Lows Tue, Sep 24, 2019 3:11PM Mortgage rates managed to hold on to the improvements seen yesterday. This was far from a certainty yesterday afternoon as the underlying bond market had ebbed into weaker territory after hitting much stronger levels earlier in the day. The timing was such that most lenders simply waited for this morning to adjust rate sheets in a modestly unfriendly direction. But that likelihood depended on the bond market remaining at yesterday afternoon's levels. It didn't. As the day progressed, bonds improved. The biggest jump followed weaker economic data in the form of the Consumer Confidence report at... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: What The Day-to-Day Moves Are Saying About The Bigger Picture Tue, Sep 24, 2019 9:35AM In the day just passed, bonds started out strong with help from exceptionally weak economic data in Europe.  German manufacturing, in particular, continues to plumb the lowest depths since the European crisis in 2012.  We're also seeing signs of manufacturing weakness spilling over into the services sector, both at home and abroad.  In fa... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:52PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:52PM EST Other News Two Major Reports at Odds Over Home Price Trends Tue, Sep 24, 2019 10:18AM Both the S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) were released on Tuesday. The Case-Shiller Indices showed prices generally slowing while FHFA's were more stable. The Case-Shiller National Index, covering all nine U.S. census divisions, was up 3.2 percent on an annual basis in July, the... (read more) NAR Sees No Sign of Homebuying Optimism Fading Mon, Sep 23, 2019 11:46AM The good news from a new National Association of Realtors® (NAR) survey is that a large majority of respondents think it is a good time to buy a home. The bad news is that the largest percentage of those who gave that response are likely to already own one. NAR's third quarter Housing Opportunities and Market Experience (HOME) survey found 63 percent of ... (read more) Foreclosures at an 18 Year Low Mon, Sep 23, 2019 5:58PM Foreclosure starts hit an 18-year low in August and were down 23 percent compared to the previous August. Black Knight, in its First Look at August loan performance data, said there were 36,200 starts during the month, a 7.65 percent month-over-month decline. It was the fewest foreclosure starts since December 2000. Starts were only one indication of the gen... (read more) Media, Renovation, Blend Approval Products; Digital News; AFL-CIO's Mortgage Company Tue, Sep 24, 2019 8:58AM What does the AFL-CIO have in common with Zillow? Both own mortgage companies. Think partnerships and “strategic alliances” are against the rules? Think again. Zillow announced partnerships with 11 home building companies across the country to help home sellers move into their new construction home without selling their existing home traditionall... (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 Reuters Pelosi to announce impeachment inquiry on Tuesday: Washington Post Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in July Bloomberg Dealers Rush to N.Y. Fed Repo Operations as Quarter-End Nears Calculated Risk Blog Richmond Fed: "Manufacturing Activity Softened in September" CNBC Signs point to re-heating in housing market as home prices stop slowdown in July Bloomberg Bond Sell-Off Is Coming Back, Says $1.6 Trillion Fund Manager Bloomberg Fed Takes Stock of Battered Money Markets as Uneasy Calm Returns NAR - Realtor.com HOA Nightmares: The Top Homeowners Association Complaints Calculated Risk Blog NAHB: "55+ Housing Market Remains Solid in Second Quarter" NAHB Eye on Housing Real Estate's Market Value Shows Minimal Growth in Q2 2019 Reuters Fed's Bullard: U.S. policy now 'considerably' looser, but markets may demand more CNBC More Americans are house-rich, but they're leaving that cash in the house

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