Realtors don't expect the 2020 "spring market" is going to happen, but they are optimistic there will be a post-pandemic rebound driven by delayed demand. The National Association of Realtors® (NAR) found, through an Economic Pulse Flash Survey, that 59 percent of its members feel buyers are merely delaying home purchases for a few months while a similar number (57 percent) said sellers are doing the same with listings. NAR Chief Economist Lawrence Yun said, "Home sales will decline this spring season because of unique economic and social consequences resulting from the coronavirus outbreak, but much of the activity looks to reappear later in the year. Home prices will remain stable because of a pandemic-induced reduction in inventory coupled with less immediate concerns over foreclosures

April 10, 2020 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 Apr 10, 2020 Mortgage Rates Showing Some Signs of Improvement Fri, Apr 10, 2020 2:18PM Just as the mortgage industry was coming to terms with unprecedented market volatility due to coronavirus, the details of the CARES Act (the coronavirus rescue/stimulus/relief bill) presented their own set of challenges. For some lenders and borrowers, these challenges are an even bigger deal than the recent market movement. The past few articles detail those challenges, but the net effect has been a staggering level of inconsistency in mortgage rate behavior from hour to hour, day to day, and from lender to lender. It's also resulted in rates moving quickly higher for some programs even as th... (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 Week Ahead: Is The Fed Really Buying Less Mortgage Debt This Week? Mon, Apr 6, 2020 10:58AM Here's this week's Fed MBS Purchase Schedule. The daily amount is down from a recent peak of $50 bln to $25 bln .  So does that mean the Fed is only going to buy half as much MBS as it was buying 2 weeks ago?  And if so, why aren't prices tanking? It's important to keep in mind that the Fed's announced buying targets are just that: targets.&... (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 7:43PM 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 7:43PM EST Other News Realtors Think Sales are Deferred, Not Lost Thu, Apr 9, 2020 11:15AM Realtors don't expect the 2020 "spring market" is going to happen, but they are optimistic there will be a post-pandemic rebound driven by delayed demand. The National Association of Realtors® (NAR) found, through an Economic Pulse Flash Survey, that 59 percent of its members feel buyers are merely delaying home purchases for a few months while a similar... (read more) Homebuyer Sentiment Takes a Nosedive in March Wed, Apr 8, 2020 11:33AM American's attitudes regarding buying and selling homes and about their own financial outlook made an abrupt U-turn last month and Fannie Mae's Home Purchase Sentiment Index (HPSI) wiped out more than three years of gains. The index, a distillation of responses to six questions from the monthly National Housing Survey (NHS) lost 11.7 points, falling to 80.8 ... (read more) Mortgage Applications Retreat as Covid Weighs on Markets Wed, Apr 8, 2020 8:24AM The negative effects of the COVID-19 epidemic appear to have set in last week as mortgage applications, which had managed to increase even after much of the nation's business shut down, tumbled. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, declined 17.9 percent on a seasonally adjusted basis du... (read more) Servicing, Appraisal, eClose Products; Agency, USDA, Investor, Lender Changes Aren't Stopping Thu, Apr 9, 2020 10:56AM As the market looks at this morning’s Federal Reserve huge aid package announcement, while in captivity/quarantivity, testing yourself is important . Someone told me this week, “Hey, we’re trying to stay alive, not sober and skinny! I’m well on my way to putting on my ‘quarantine 15’ or my ‘Covid 19.’” I ... (read more) Latest Video The Federal Reserve boosts efforts to save the US economy from coronavirus ... Watch Fed Chair Powell deliver remarks on the coronavirus response 6.6 million Americans filed jobless claims last week as coronavirus-related... Fed announces $2.3 trillion in programs to support the economy Around the Web CNBC Trump says US will have 'substantially under' 100,000 deaths from coronavirus, lower than initial estimates CNBC Fed's Quarles says Main Street lending program should be running in 2 or 3 weeks Reuters U.S. consumer prices record largest drop in five years CNBC Coronavirus live updates: US cases top 466,000, Trump calls for more small business funding Calculated Risk Blog University of Michigan: Largest Decline on Record for Consumer Sentiment Reuters Explainer: Next from the Fed - Help for Main Street Reuters Explainer: What the Federal Reserve has done in the coronavirus crisis Reuters Fed studying if new facility for small business loans might be opened to non-bank lenders CNBC Fed fires an even bigger bazooka, expands its shopping list to include junk bonds Reuters Fed chief Powell sees road to recovery, warns on 'false start' CNBC Airlines should start hearing back about their bailout applications by Friday, Mnuchin says Reuters Fed will continue to act 'forcefully, proactively and aggressively,' Powell says CNBC Treasury Secretary Mnuchin says US could be open for business in May

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