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: Mortgage Rate Watch Mortgage Rates Reflecting Market Concerns 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, i... (read more) Rob Chrisman DPA, Forbearance, Broker Products; FHA, USDA Tweaks; Treasury/MBS Spread Update 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 ... (read more) Housing News Surge in Forbearances This Week 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 sur... (read more) Housing News Forbearance is Major Cause of Lender Overlays 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... (read more) Housing News Home Price Gains Defied The Odds in April 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 almos... (read more) MBS Commentary MBS Live Recap: The Trend is Officially Broken. Welcome Back To The Range 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-stand... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.02 +0.21 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:25PM EST 10 Year US Treasury 4.2290 -0.0523 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:25PM EST 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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