Mortgage rates hit new all-time lows last week. In fact, for many lenders, records were broken on more than one day. That raised the risk of a bounce back this week and if today is any indication, that's what we're seeing. The average lender is back in line with last Tuesday's rate offerings for top tier conventional 30yr fixed scenarios. All that having been said, rate movement is pretty minimal by normal standards as the bond market (which underlies interest rate momentum) has been relatively calm and sideways after coming to terms with the initial shock of the coronavirus market impact. In many cases, borrowers would see the same note rate they saw last Friday (in those cases, the upfront costs associated with that rates would likely be slightly higher). Loan Originator Perspective Bonds

May 26, 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 26, 2020 Mortgage Rates Moving Higher to Start New Week Tue, May 26, 2020 4:09PM Mortgage rates hit new all-time lows last week. In fact, for many lenders, records were broken on more than one day. That raised the risk of a bounce back this week and if today is any indication, that's what we're seeing. The average lender is back in line with last Tuesday's rate offerings for top tier conventional 30yr fixed scenarios. All that having been said, rate movement is pretty minimal by normal standards as the bond market (which underlies interest rate momentum) has been relatively calm and sideways after coming to terms with the initial shock of the coronavirus market impact. In ... (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 Week Ahead: Beatings Can Continue Until Market Morale Deteriorates Tue, May 26, 2020 9:07AM No need to overcomplicate the current narrative: the overall financial market is attempting to balance the reopening of the economy with the risk of COVID resurgence, all the while receiving a boost from massive global stimulus efforts.  No matter how pessimistic anyone wants to be about the longer-term economic damage associated with coronavirus, the... (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 April New Home Sales Crush Forecasts Tue, May 26, 2020 11:37AM New home sales, rather than dropping like a rock, rose 0.6 percent in April according to the U.S. Census Bureau and the Department of Housing and Urban Development. Part of the gain is due to a revision of the March sales numbers from an original estimate of 627,000 seasonally adjusted annual units to 619,000. This added to the month's 15.4 percent decline f... (read more) Home Prices Still Moved Higher in March Tue, May 26, 2020 11:11AM Even as the COVID-19 pandemic began to hobble home sales in many locations, home prices continued to increase. the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) held to its 5.7 percent gains the prior month while the S&P CoreLogic Case-Shiller U.S. Home Price Indices posted larger annual increases in March than in February. The S&... (read more) First Wave of Forbearances Almost Doubles Delinquency Rates Fri, May 22, 2020 12:34PM The years-long downward trend of mortgage delinquencies appears to have come to an abrupt end in April. Black Knight, in its "first look" at the month's loan performance data, said the national delinquency rate shot up 90 percent compared to March and is 86 percent higher than in April 2019 at 6.45 percent. That rate indicates the percentage of active loans ... (read more) Broker, eSign, Marketing Products; USDA, FHA, Freddie, Fannie News and Trends Tue, May 26, 2020 8:43AM I doubt if I have ever pressed “7” or “8” on my microwave oven keypad. Speaking of 7 & 8 (I know, a weak segue), originators are keenly aware of what builders are seeing, economy-wise, and 78 percent of them did not lower their prices in April. Not only that, but 41% of home sales had bidding wars, according to Redfin . “Dem... (read more) Latest Video New home sales strongest in homes priced below $300,000 Dimon: Fed is bringing out the bazooka There's a lot of pent up consumer demand, says APi Group co-chairman New home sales for April come in much stronger than expected Around the Web CNBC Stimulus will add to high debt levels but alternative is 'much worse,' ECB vice president says Calculated Risk Blog A few Comments on April New Home Sales Reuters S&P 500 clears 3,000 barrier on hopes of recovery, vaccine Calculated Risk Blog Dallas Fed: "Contraction Continues in Texas Manufacturing Sector" CNBC Consumer confidence for May rises to 86.6, vs 82.3 expected CNBC Related Chairman Stephen Ross: Expect a 'flood' of retail bankruptcies because of the pandemic Calculated Risk Blog Case-Shiller: National House Price Index increased 4.4% year-over-year in March Calculated Risk Blog "Chicago Fed National Activity Index suggests economic growth fell substantially in April" Reuters NYSE to reopen trading floor closed by coronavirus Reuters U.S. small firms leave $150 billion in coronavirus stimulus untapped Calculated Risk Blog Seasonal Adjustment Weirdness: Will State and Local Governments Hire 700,000 Teachers in June and July? Calculated Risk Blog Q2 GDP Forecasts: Probably Around 40% Annual Rate Decline CNBC At first, some mortgage bailout recipients didn't need it, but now more do

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