After falling an aggregate of 29.5 points in March and April, Fannie Mae says its Home Purchase Sentiment Index (HPSI) has begun to recover. The Index rose 4.5 points in May to 67.5 from an all-time survey low in April. Four of the six index components gained ground. Year over year, the HPSI is down 24.5 points. Consumers reported a somewhat more optimistic view of homebuying conditions and, to a lesser extent home-selling conditions, in their responses to the National Housing Survey upon which the index is based. Moreover, fewer consumers reported expectations that mortgage rates will go up over the next 12 months. "Although the HPSI's precipitous declines of March and April did not continue in May, Americans' financial, economic, and housing market concerns remain substantially elevated compared

June 9, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 9, 2020 Mortgage Rates Starting Strong This Week Mon, Jun 8, 2020 5:02PM After moving higher at a fairly quick pace last by last Friday, mortgage rates are off to a better start this week. Rates remain noticeably higher versus the best recent levels, seen on June 1st and 2nd, but the average lender offered slightly lower rates this morning and then ended up offering a mid-day price improvement as well. There's no way to know ahead of time if a lender will change rates in the middle of the day, but if the underlying bond market moves enough, it can happen any time. Most of the time, these moves are small enough that they only impact the upfront cost side of the mort... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Recap: Bond Rally or a Token Bounce After Last Week's Rout? Tue, Jun 9, 2020 4:42PM Bond Rally or a Token Bounce After Last Week's Rout? Last week saw rates rise at the fastest pace in months in an apparent lift-off from an extended stint near all-time lows.  Now the current week looks vastly different with bonds set to improve significantly for a 2nd straight day.  Is it already time to t... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 6:59AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.060 +0.021 30 YR Treasury 4.718 +0.028 Pricing as of: 9/9 6:59AM EST Other News May Homebuying Sentiment Shows Signs of Recovery Tue, Jun 9, 2020 11:47AM After falling an aggregate of 29.5 points in March and April, Fannie Mae says its Home Purchase Sentiment Index (HPSI) has begun to recover. The Index rose 4.5 points in May to 67.5 from an all-time survey low in April. Four of the six index components gained ground. Year over year, the HPSI is down 24.5 points. Consumers reported a somewhat more optimistic ... (read more) Loan Performance Showed Only Minimal Stress in March Tue, Jun 9, 2020 9:38AM The strength of the housing industry at the end of 2019 and beginning of 2020 served, to a certain extent, as a buffer as the COVID-19 pandemic began to hit in March. However, CoreLogic says that there were still some signs that month that loan performance was beginning to fray. The company's March Loan Performance Insights Report says the share of mortgages... (read more) Black Knight Takes a Close Look at April's Historic Delinquency Rate Mon, Jun 8, 2020 9:41AM Black Knight says that only three months after the national delinquency rate hit a record low, falling 1.5 percentage point below its pre-Great Recession average in January, it skyrocketed to 6.45 percent. This is a 3.1 percent change in April alone, the largest single-month increase on record and nearly triple the previous record , a November 2008 surge. Du... (read more) Marketing, DPA, Underwriting, Pricing Products; Wholesaler Changes Tue, Jun 9, 2020 8:35AM Big picture, in case you haven’t been paying attention, the National Bureau of Economic Research confirmed that the U.S. economy has slowed: The economy hit its peak in February and has since fallen into a downturn as the unforeseen pandemic caused shutdowns and brought an end to the 128 month record-long expansion. In the weeds, down at the loan-level... (read more) Latest Video U.S. economy entered recession in February 2020—Here's the breakdown April JOLTS report comes in at 5 million, vs. 5.75 million expected Focus on alternative data over jobs numbers, says economist Main Street optimism ticks up as pent up demand lifts outlook Around the Web Reuters Explainer: What to look for in the Fed's U.S. economic outlook NAHB Eye on Housing Backward-Looking April Construction Data: Layoffs Surged Calculated Risk Blog NMHC: Rent Payment Tracker Finds Most People Paying Rent in June Calculated Risk Blog BLS: Job Openings decreased to 5.0 Million in April Reuters Wall Street set to fall as rally pauses ahead of Fed meeting Reuters EU trade chief Hogan says he is considering bid to become WTO chief CNBC While 21 million Americans were unemployed as of May, long-term joblessness hasn't seen an uptick CNBC Big jobs gain 'has bought the Fed some time,' but more help eventually will be needed Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Increases to 8.53%" of Portfolio Volume Reuters Nasdaq rises to record again on economic recovery hopes Reuters U.S. economy entered recession in February, business cycle arbiter says NAHB Eye on Housing April Consumer Credit Indicates Recovery Challenges NAR - Realtor.com Cleveland Is a House-Flipping Hot Spot, and Covid Is Helping

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