Mortgage rates improved today, on average, but things can vary quite a bit depending on the lender. Several lenders are back in line with their lowest rates of the past 2 weeks. With the exception of early March 2020, these are the lowest rates of all time--at least if we're talking about conventional, conforming, top tier scenarios. It continues to be the case that "off-the-beaten-path" loan scenarios are nowhere near their historical lows. This group includes risk factors like cash-out refinances, lower FICO scores, investment properties, and higher loan-to-value ratios. Combine more than a few of those factors and you can be reasonably assured that you won't even get a quote from a lender willing to do the loan, let alone offer a decent rate. This is being driven by the response to coronavirus

May 13, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Back in Line With Recent Lows Mortgage rates improved today, on average, but things can vary quite a bit depending on the lender. Several lenders are back in line with their lowest rates of the past 2 weeks. With the exception of early March 2020, these are the lowest rates of al... (read more) Rob Chrisman Marketing, Broker, Appraisal Products; Shifts in Credit Reporting and Underwriting; Negative U.S. Rates? Remember the old days at a birthday party when someone would blow on the cake before everyone ate it? Things are certainly changing, including processing residential loans. In our biz, as we all wait for Ginnie to come out with its electronic promiss... (read more) MBS Commentary MBS Live Day Ahead: Will Powell Drop Any Hints? In ancient financial market times (let's say any time before 2009), a massive economic shock resulted in a pervasive move lower in both stock prices and bond yields.  This is a logical way to move away from risk and protect return-on-invest... (read more) Housing News Refi Boom Remains Steady as Purchase Demand Continues to Heal Last week was yet another good one for purchase mortgage activity and refinancing, while continuing to fade, was still at double its pace of a year ago. The Mortgage Bankers Association (MBA) said the upshot was a slight increase in its Market Compos... (read more) Housing News Pre-Lockdown Home Prices Increase by Double-Digits in Some Metros Home prices really ramped up in the first quarter of 2020 as inventory failed to make significant gains. The National Association of Realtors® (NAR) said the median single-family home in the quarter sold at $274,600, a 7.7 percent annual increase... (read more) Housing News Calm Before the Storm: Delinquency Rates Hit New Lows in February CoreLogic's Loan Performance Insights Report has shown only incremental changes, primarily declines, in most of its measures of delinquency. The most recent report, covering February, is more of the same, marking the 26 th straight month that delinqu... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 +0.07 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.05 +0.09 GNMA 6.0 101.46 +0.06 Pricing as of: 7/3 4:54AM EST 10 Year US Treasury 4.2592 -0.0206 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.018 5 YR Treasury 3.847 -0.020 7 YR Treasury 4.034 -0.022 10 YR Treasury 4.259 -0.021 30 YR Treasury 4.786 -0.023 Pricing as of: 7/3 4:54AM EST Latest Video Richard Fisher: Negative rates are a destructive mechanism Companies rushing to raise capital through debt David Tepper: This is second-most overvalued market, behind only '99 PPP loans don't work if businesses can't reopen, says restaurant owner Around the Web Reuters Wall Street ends down on Powell's sober outlook, call to Congress for help CNBC Fed's Mester sees a recovery or a 'much more dire' scenario as equally possible Calculated Risk Blog Fannie and Freddie: REO inventory declined in Q1, Down 20% Year-over-year CNBC Powell's gloomy outlook has investors predicting the Fed may make another big move soon Calculated Risk Blog Houston Real Estate in April: Sales Down 21.6% YoY, Inventory Unchanged YoY CNBC David Tepper says this is the second-most overvalued stock market he's ever seen behind only '99 Reuters Equities slide, bonds rise, on Fed warning of prolonged recession Reuters U.S. producer prices post biggest drop since 2009 Reuters Instant view: Powell: Brace for 'extended period' of economic woe CNBC Powell says the Federal Reserve is not looking at negative interest rates Reuters Fed Chair Powell warns of prolonged U.S. recession after coronavirus Reuters Fed's Powell to assess next phase of pandemic economy NAR - Realtor.com What Home Buyers and Sellers Can Expect in 2020, as Pandemic Revises Forecast

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