Mortgage rates moved modestly lower today, bringing the average lender very close to all-time lows . The caveat continues to be that day-to-day rate changes have been small ever since hitting the confirmed all-time lows on June 11th. Realistically, if you locked in a rate any time in the past 4 weeks, you did very well. The same is true today, and it will continue to be true as long as the broader financial market remains concerned about the resurgence in covid-19 cases in several states. Mortgage rates are primarily driven by the bond market. They share many similarities with US Treasuries. When investors are feeling cautious or seeking to prevent the loss of capital, the bond market offers a safe haven. When demand for bonds increases, bond prices rise and bond yields fall. "Yield" is another

June 26, 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 26, 2020 Mortgage Rates Reflecting Market Concerns Thu, Jun 25, 2020 4:13PM Mortgage rates moved modestly lower today, bringing the average lender very close to all-time lows . The caveat continues to be that day-to-day rate changes have been small ever since hitting the confirmed all-time lows on June 11th. Realistically, if you locked in a rate any time in the past 4 weeks, you did very well. The same is true today, and it will continue to be true as long as the broader financial market remains concerned about the resurgence in covid-19 cases in several states. Mortgage rates are primarily driven by the bond market. They share many similarities with US Treasuries. W... (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: The Trend is Officially Broken. Welcome Back To The Range Fri, Jun 26, 2020 4:41PM The Trend is Officially Broken. Welcome Back To The Range Bond yields moved lower today, thus breaking out of the prevailing trend.  In so doing, they find themselves squarely back inside a longer-standing sideways range, which is a great place to be with rates at all-time lows.  ... (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 Surge in Forbearances This Week Fri, Jun 26, 2020 9:45AM After three weeks of declining totals, Black Knight says the number of active COVID-19 forbearance plans shot up over the past week. As of June 23, there were 4.68 million homeowners in forbearance, an increase of 79,000 from the prior week. This surge erased about half of the improvement the company has noted in its weekly report since forbearance plans pea... (read more) Forbearance is Major Cause of Lender Overlays Thu, Jun 25, 2020 2:03PM In his analysis of current mortgage credit tightening for the Joint Center on Housing Studies excerpted here earlier, Don Layton included a special section on lender overlays . The former Freddie Mac CEO focused specifically on how those overlays may be affected by the borrower forbearance mandated by the CAREs Act for borrowers impacted financially by the C... (read more) 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) DPA, Forbearance, Broker Products; FHA, USDA Tweaks; Treasury/MBS Spread Update Fri, Jun 26, 2020 10:00AM There are plenty of tricks in any trade. Just-opened cellulose sponges are already damp because many are premoistened with sterile water. (Without H20, the material shrivels and hardens and looks unattractive in the store.) Watch a car commercial on TV: many have the street watered down to make the asphalt dark and the car reflect. Don’t ever, ever put... (read more) Latest Video Forbearance rise erases roughly half of improvement seen since peak: Expert Invitation Homes CEO on suburban housing boom, protection for renters Consumer sentiment index a slight miss, 78.1 vs 79 expected Personal spending up 8.2% in May Around the Web Redfin 9 Tips for Selling Your Home During Coronavirus CNBC The extra $600 unemployment benefits will end before July 31 CNBC Fragile economic recovery faces first big test with June jobs report in the week ahead CNBC Coronavirus contact tracing is 'not going well,' Dr. Fauci says, U.S. still needs more testing NAR - Realtor.com While Not Quite McMansions, Larger Homes in the U.S. Are Making a Comeback Redfin Prices of Affordable Homes Have Jumped 5.5% During the Pandemic NPR Florida Smashes Coronavirus Case Record: Nearly 9,000 Positive Cases on Thursday Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency Rate increased in May, Highest in 2 Years Calculated Risk Blog Q2 GDP Forecasts: Probably Around 33% Annual Rate Decline Calculated Risk Blog Personal Income decreased 4.2% in May, Spending increased 8.2% CNBC ECB's Lagarde says we've probably passed the lowest point of the crisis CNBC U.S. Treasury yields edge higher ahead of economic data Calculated Risk Blog Economic Outlook: The Gathering Storm

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