Mortgage rates moved slightly higher this week, but not enough to worry about too terribly much. Most lenders are still in the mid-to-low 3% range and there's not much fear about an abrupt move to significantly higher levels any time soon. Whether or not that makes the market complacent remains to be seen. Either way, rates just haven't moved much when it comes to the rates we can actually talk about. What do I mean by that? While we can talk about any rate for any program, there's only one way to compare changes in rates from day to day and year to year. To do that, we have to keep track of the best-case rates at multiple lenders. Fortunately, that's exactly what I do. Unfortunately, the landscape has been far more varied than normal as we step away from those top tier scenarios. The variation

May 7, 2020 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 May 7, 2020 Rates Are Still Low, But Let's Talk About Forbearances Wed, May 6, 2020 5:20PM Mortgage rates moved slightly higher this week, but not enough to worry about too terribly much. Most lenders are still in the mid-to-low 3% range and there's not much fear about an abrupt move to significantly higher levels any time soon. Whether or not that makes the market complacent remains to be seen. Either way, rates just haven't moved much when it comes to the rates we can actually talk about. What do I mean by that? While we can talk about any rate for any program, there's only one way to compare changes in rates from day to day and year to year. To do that, we have to keep track of t... (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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: Resilience in Bonds Speaking to Supportive Bigger Picture Thu, May 7, 2020 8:55AM Despite an improvement in COVID numbers, relative optimism in stocks, an ongoing glut of corporate bond issuance, and freshly reinforced realizations about the size of new Treasury issuance in Q2, the bond market has managed to more or less shrug off all of the challenging anecdotes to trade 1-2bps better at the start of the day.   This is fair... (read more) MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.76 -0.31 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 5:39PM EST US Treasury Yield Change 2 YR Treasury 3.554 +0.067 5 YR Treasury 3.614 +0.052 7 YR Treasury 3.813 +0.045 10 YR Treasury 4.084 +0.045 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:39PM EST Other News FHFA Extends Emergency Loan Processing Changes Wed, May 6, 2020 5:52PM The Federal Housing Finance Agency (FHFA) has extended several of the " flexibilities " it announced in March to assist mortgage originators in processing loans for Fannie Mae and Freddie Mac during shutdown associated with the COVID-19 emergency. The accommodations are designed to eliminate some in-person contact and to make it possible to for processing st... (read more) Agencies are Cutting Access to Mortgage Data for Low-Income Borrowers Tue, May 5, 2020 12:05PM Two Urban Institute (UI) analysts have raised an alarm about changes to federal regulations that threaten to limit access to important data about the mortgage market and credit availability for low and moderate-income borrowers and communities. Most of the changes are coming through rulemaking at the Consumer Financial Protection Agency (CFPB) and relate to ... (read more) Purchase Volume on Three-Week Winning Streak Wed, May 6, 2020 8:16AM Applications for purchase mortgages increased for the third straight week, keeping overall activity during the week ended May 1 virtually unchanged from the previous week. Refinancing, while drifting lower, still provided the largest share of the market. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application vol... (read more) CRM, API, Broker, Marketing Products; Disaster Updates; Investor Changes Continue Thu, May 7, 2020 9:08AM Plenty of people are clamoring to be released from captivity , and changes in staying sequestered or opening up has become political. The lending climate certainly continues to change. Reverse mortgage origination has plummeted , for example. “You never want a serious crisis to go to waste,” said Rahm Emanuel after 2008, and officials aren’... (read more) Latest Video CBRE CEO on company earnings and the future office space It will take five years for the US to return to the economy of 2019: Harvar... Here are the states with the most jobless claims 3.169 million Americans filed new jobless claims in the last week of April Around the Web Reuters As U.S. states start to reopen, Fed official sees little sign of resurgence NAHB Eye on Housing Loan Officer Survey Highlights Gaps In Mortgage and Construction Loan Demand Calculated Risk Blog April Employment Preview CNBC Consumer confidence in housing falls to lowest level since the subprime crash Calculated Risk Blog Hotels: Occupancy Rate Declined 58.5% Year-over-year, Slight Increase Week-over-week NAHB Eye on Housing Housing Affordability Down Due to Economic Losses Stemming from COVID-19 Pandemic CNBC US plans to make 'millions' of 'easy-to-use' coronavirus tests by end of summer, top US health official says Calculated Risk Blog Seattle Real Estate in April: Sales down 25% YoY, Inventory down 31% YoY CNBC So much money, so little oversight: Coronavirus bailout cash is a big target for fraud NPR 3.2 Million More Are Out Of Work As Jobless Claims Keep Piling Up NAR - Realtor.com Home-Loan Applications Ticked Up for a Third Week. There's Pent-Up Demand.' Reuters BoE waiting to see how much lockdown lifted before QE decision: Bailey CNBC This is the jobs number that will show how fast the labor market can heal

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.