Let's get caveats out of the way upfront. No conversation about mortgage rates would be complete without a reminder that some lenders are very far removed from the averages. Moreover, even a lender is offering rates that are in line with today's average, that may have been a completely different story at various points in the past. With that out of the way, yes, the average lender is now offering the lowest rates in several weeks for top tier, conventional 30yr fixed scenarios. Speaking of top tier, how about some more caveats? As soon as we start adding risk factors to the mix, rates (or upfront loan costs) rise abruptly. In many cases, lenders aren't even offering certain combinations of factors anymore. For instance, if you were hoping to get a cash-out loan, that's quickly become much more

April 24, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates at Lowest Levels in Several Weeks Let's get caveats out of the way upfront. No conversation about mortgage rates would be complete without a reminder that some lenders are very far removed from the averages. Moreover, even a lender is offering rates that are in line with today's aver... (read more) MBS Commentary MBS Live Day Ahead: No Grand Mortgage Market Backstop = No Surprise Given the size and scope of the unemployment/forbearance issue, mortgage investors have been rightfully concerned about the timeliness of payments, and perhaps even the solvency of existing mortgage market backstops (servicer balance sheets and Fanni... (read more) Housing News 3.4 Million Loans Already in Forbearance - Black Knight March is typically the strongest month of the year for mortgage performance, probably because, according to Black Knight the receipt of tax refunds allows delinquent borrowers to catch up on their payments. However, last month the delinquency rate ro... (read more) Rob Chrisman Broker, Construction, Doc Products; Cash-out Product Hit; Federal Reserve Deep Dive While in captivity, it is important that your home have the right ambiance, and emanate a welcoming feeling . Real estate agents are good at helping sellers establish the right ambiance, and while giving blood yesterday I coincidentally sat near an a... (read more) Housing News What's Working and What Needs to Change For Mortgage Process -Urban Institute Two Urban Institute (UI) researchers pose a pertinent question in a recent paper. Laurie Goodman and Aaron Klein ask, "What is the purpose of the Fed lowering short term rates to zero and buying hundreds of billions of mortgages to lower mortgage int... (read more) Housing News Covid Impacts New Home Sales, Largest Decline in 7 Years The Census Bureau and Department of Housing and Urban Development's report on new home sales in March is the first real time indication of the impact the COVID-19 mitigation is having on total sales. The report on existing homes, released a few days ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.02 0.00 15 Yr. Fixed 6.02% +0.03 0.00 30 Yr. FHA 6.34% +0.05 0.00 30 Yr. Jumbo 6.90% +0.01 0.00 7/6 SOFR ARM 6.45% +0.10 0.00 30 Yr. VA 6.35% +0.05 0.00 Updates Daily - Last Update: 7/8 15 Yr. Fixed Rate 6.02% +0.03% 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 99.43 -0.03 Price / Yield Change MBS UMBS 5.5 99.43 -0.02 UMBS 6.0 101.31 -0.02 GNMA 5.5 99.61 -0.01 GNMA 6.0 101.22 -0.03 Pricing as of: 7/9 8:54AM EST 10 Year US Treasury 4.4112 +0.0050 Price / Yield Change US Treasury 2 YR Treasury 3.897 +0.002 5 YR Treasury 3.981 +0.010 7 YR Treasury 4.182 +0.008 10 YR Treasury 4.412 +0.006 30 YR Treasury 4.939 +0.012 Pricing as of: 7/9 8:54AM EST Latest Video Black Knight's Walden: 6.4% of all mortgages now in forbearance plans Fed: Total commercial paper loans total $249 million US durable goods orders fall 14.4% in March, vs 12% drop expected Home prices will decline nationally, but only briefly: Michelle Meyer Around the Web Reuters CBO sees $3.7 trillion U.S. deficit from coronavirus pandemic Reuters U.S. CDC reports 865,585 coronavirus cases, 48,816 deaths NAR - Realtor.com Home Price Growth Slowing Down, but Not Droppingat Least Not Yet CNBC Here's how much unemployment has spiked in each state because of coronavirus CNBC Mortgage lender loanDepot holds virtual job fair and gets 10,000 views Reuters Fight over next coronavirus aid bill kicks into high gear in U.S. Congress CNBC Trump signs $484 billion coronavirus relief bill to boost small business, hospitals and testing Reuters U.S. retailers offer purses, shoes 'to go' as restrictions ease Calculated Risk Blog Lawler: Excerpts from PulteGroup's Conference Call Reuters U.S. core capital goods orders post surprise gain in March Reuters Federal Reserve scraps transfer limits on bank savings accounts CNBC US consumer sentiment for April falls to 71.8, vs 67 expected Calculated Risk Blog Black Knight: More than 3.4 Million Homeowners Now in COVID-19-Related Forbearance Plans

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