Mortgage rates moved modestly lower today, but face an uphill battle in general. They fell very quickly as coronavirus first hit financial markets. They hit multiple new all-time lows in since March 9th and continued setting new records as recently as last week for some lenders. In fact, there are a few lenders that are offering their best rates ever TODAY. The catch is that these rates are very similar to those seen yesterday and the day before (and so on and so on). Markets are waiting to see if we can prevent a massive 2nd wave of coronavirus cases while still reopening the economy. To whatever extent that's possible, rates should begin to see gradual upward pressure. There's another important catch , and it's one we've talked about quite a bit in the past few months. At the very same lenders

June 24, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 24, 2020 Record Low Rates For Some; Frustration and Confusion For Others Wed, Jun 24, 2020 3:26PM Mortgage rates moved modestly lower today, but face an uphill battle in general. They fell very quickly as coronavirus first hit financial markets. They hit multiple new all-time lows in since March 9th and continued setting new records as recently as last week for some lenders. In fact, there are a few lenders that are offering their best rates ever TODAY. The catch is that these rates are very similar to those seen yesterday and the day before (and so on and so on). Markets are waiting to see if we can prevent a massive 2nd wave of coronavirus cases while still reopening the economy. To what... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.33 +0.20   97.47 101.61 UMBS 30YR 6.0 102.45 +0.06   99.66 102.50 10 YR Treasury 4.037 -0.030   3.621 4.780 MBS Live Recap: Rising Rates Thwarted By Coronavirus Concerns Wed, Jun 24, 2020 3:28PM Rising Rates Thwarted By Coronavirus Concerns Stop us if you've heard this one before, but rates are low due to an unprecedented global emergency.  Unless coronavirus situations deteriorates significantly, it's only fair for rates to gradually push back toward higher levels.  But when case counts spike, bon... (read more) MBS Price Change UMBS 5.0 99.98 +0.35 UMBS 5.5 101.32 +0.19 UMBS 6.0 102.46 +0.06 GNMA 5.0 100.22 +0.22 GNMA 5.5 101.28 +0.15 GNMA 6.0 102.03 +0.03 Pricing as of: 9/15 4:25PM EST US Treasury Yield Change 2 YR Treasury 3.537 -0.016 5 YR Treasury 3.603 -0.027 7 YR Treasury 3.787 -0.029 10 YR Treasury 4.037 -0.030 30 YR Treasury 4.659 -0.022 Pricing as of: 9/15 4:25PM EST Other News Home Price Gains Defied The Odds in April Wed, Jun 24, 2020 10:08AM House prices continued to be unfazed by the current economic upheaval. The Federal Housing Finance Agency (FHFA) reports that its U.S. House Price Index for April, the first full month that reflects the impact of the pandemic, continued to rise almost unabated. The index increased by 0.2 percent from March compared to a 0.1 percent increase from February to ... (read more) Amazing Winning Streak For Home Purchase Applications Finally Levels Off Wed, Jun 24, 2020 8:15AM The nine-week string of increases in purchase mortgage applications came to an end last week and refinancing volume pulled back as well. Consequently, the Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of overall application volume during the week ended June 19 dropped significantly, down 8.7 percent on a seasonally adjusted basis. ... (read more) April New Home Sales Surge, Rising Over 16% Tue, Jun 23, 2020 10:59AM After its pandemic-related plunge in April, the rapid recovery of the Housing Market Index, a measure of builder confidence, seems justified by today's Census Bureau report on new home sales. For the second month in a row, sales of newly constructed homes outdistanced expectations, rising by 16.6 percent to a seasonally adjusted annual rate of 676,000 units.... (read more) Marketing, Broker, Tax Products; VA, Construction Webinars; Tech Partnerships Wed, Jun 24, 2020 9:07AM Companies worldwide are grappling with continued travel bans, and how to bring back employees in waves, if at all. Others are re-designing office layouts, thinking about renting more space, and looking at the cost of footprint changes. Some employees can’t wait to return to office life, others are doing fine without commuting, and still others will spe... (read more) Latest Video Housing market recovery remarkable: Ivy Zelman Stocks fell as number of coronavirus cases continues to rise in U.S.—Here's... How the pandemic has affected the commercial real estate business Mortgage demand pulled back last week despite record-low interest rates Around the Web CNBC California reports more than 7,000 coronavirus cases, biggest daily jump so far CNBC Treasury may consider delaying Tax Day beyond July 15, Mnuchin says Calculated Risk Blog DOT: Vehicle Miles Driven decreased 40% year-over-year in April Calculated Risk Blog Census: Household Pulse Survey shows 31% of Households Expect Loss in Income over Next 4 Weeks Calculated Risk Blog AIA: "Architecture billings downward trajectory moderates" CNBC IMF slashes its forecasts for the global economy and warns of soaring debt levels NAHB Eye on Housing Share of Builders Cutting Home Prices Drops from 22% to 15% twitter.com FHFA Releases 1st Quarter Foreclosure Prevention and Refinance Report for Fannie/Freddie CNBC Housing market should 'cool off' later in year, Moody's economist Zandi says CNBC There's a wave of selling estimated to be in the billions that's about to hit the stock market Calculated Risk Blog NMHC: Rent Payment Tracker Finds 92 Percent Paid Rent as of June 20th, Same Pace as in June 2019 Calculated Risk Blog A few Comments on May New Home Sales Calculated Risk Blog New Home Sales increased to 676,000 Annual Rate in May

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