Mortgage rates move lower again today. Combined with yesterday's drop, the improvement has been significant for top tier rate quotes in the lower range of available rates. What does that mean, exactly? A rate quote isn't simply a rate. That's only one side of the equation. The other side is the upfront cost. Generally speaking (and there are exceptions) the higher the rate, the lower the upfront cost, all other things being equal. Depending on movement in the bond market, certain mortgage rates can see varying amounts of change in their associated upfront costs. At the moment, it's the lowest available rates that have seen the biggest benefit. For instance, there's not much difference between yesterday and today's quotes for conventional 30yr fixed rates of 3.25% and above, but there is substantial

May 14, 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 14, 2020 Mortgage Rates are Actually Lower This Week Thu, May 14, 2020 3:49PM Mortgage rates move lower again today. Combined with yesterday's drop, the improvement has been significant for top tier rate quotes in the lower range of available rates. What does that mean, exactly? A rate quote isn't simply a rate. That's only one side of the equation. The other side is the upfront cost. Generally speaking (and there are exceptions) the higher the rate, the lower the upfront cost, all other things being equal. Depending on movement in the bond market, certain mortgage rates can see varying amounts of change in their associated upfront costs. At the moment, it's the lowest ... (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: Treasuries Outperforming, But MBS Holding Steady Thu, May 14, 2020 8:58AM The recent trading range has been reinforced after a strong show of support in this week's Treasury auctions.  Treasuries were under more pressure heading into that process and are breathing a bigger sigh of relief coming out of it.  In visual terms, this can be seen as a ceiling bounce around .735 and now in a break below the recent uptrend... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.22 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.76 -0.32 GNMA 5.5 101.03 -0.16 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:53PM EST US Treasury Yield Change 2 YR Treasury 3.557 +0.070 5 YR Treasury 3.615 +0.054 7 YR Treasury 3.814 +0.045 10 YR Treasury 4.085 +0.046 30 YR Treasury 4.731 +0.041 Pricing as of: 9/9 5:53PM EST Other News FHA Borrowers Offered New Option for Catching Up on Loans Thu, May 14, 2020 8:18AM The Federal Housing Finance Agency (FHFA) and both GSEs (Fannie Mae and Freddie Mac) have announced a new option for homeowners in COVID-19 forbearance plans , to eventually return their mortgages to performing status. As part of the CARES Act, a borrower in financial stress because of the pandemic can request forbearance, a pause or reduction in their month... (read more) Despite Record Unemployment, Delinquencies are Still Down From Last Year Thu, May 14, 2020 11:10AM The national delinquency rate rose significantly in the first quarter of 2020, driven largely by a surge in the early stage rates. The Mortgage Bankers Association said the rate of loans on one-to-four-unit residential properties rose 59 bps (bps) compared to the fourth quarter of 2019 to a seasonally adjusted rate of 4.36 percent of all loans . This was sti... (read more) Refi Boom Remains Steady as Purchase Demand Continues to Heal Wed, May 13, 2020 8:23AM 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 Composite Index, a measure of mortgage loan application volume. It gained 0.3 percent on a seasonally adjusted basis... (read more) LO Jobs; Valuation Products; Agency/Investor Changes; Mortgage-COVID-Video; Powell Sees Prolonged Tough Times Thu, May 14, 2020 10:12AM As we race toward the Memorial Day holiday on the 25th, for the first time in history we can save the human race by laying in front of the TV and doing nothing. Let's not screw it up! Zillow laid out its work from home (WFH) plan: the rest of 2020 . Microsoft? October at the earliest . Facebook & Google for the rest of 2020 . Who cares what politicians s... (read more) Latest Video Mark Cuban says market 'overvalued' The office sector will come back, but with some changes: Analysts Fed in the lending, not the grant-making business: Paul McCulley Nearly 3 million people filed for unemployment for week ending May 9 Around the Web Reuters Wall Street closes with strong gains as recovery hopes offset pandemic fears NAR - Realtor.com Joe Biden Would Give Homeowners, Renters This Big Break If Elected Reuters Seven weeks into coronavirus lockdowns, Fed has a new, darker message NAR - Realtor.com Mortgage Delinquencies Caused by the Coronavirus Will Exceed Great Recession Levels, According to This Forecast CNBC As millennials flee coronavirus-ridden cities, JP Morgan teams up with American Homes 4 Rent to build large suburban rental homes CNBC Nearly 40% of the poorest households hit with a job loss during pandemic, Fed study shows Calculated Risk Blog The Changing Mix of Light Vehicle Sales Redfin House Hunters' Hunger for Small Towns Continues to SoarEven as Interest in Big Cities Begins to Recover CNBC It's "too early to write the epitaph" for office real estate, UBS analyst says Calculated Risk Blog Hotels: Occupancy Rate Declined 55.9% Year-over-year, Slight Increase Week-over-week Redfin Home-Buying Demand Passes Pre-Coronavirus Levels; Inventory Down 24% CNBC US weekly jobless claims rise 2.981 million, vs 2.7 million expected NAHB Eye on Housing Credit for Builders Tightens, Virus Blamed

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