Bonds Making a Case For a New Trend We've talked a lot about the linear uptrend in bond yields that began in April.  It was defeated by the end of June and bonds began drifting sideways.  But now they may be making a case for a new trend toward lower rates. Econ Data / Events 11:30-11:50 AM (ET) -  Fed 30yr UMBS Buying    Jobless Claims 1.314m vs 1.375m f'cast, 1.427 prev Continued Claims 18.062m vs 18.95m f'cast, 19,290m prev Market Movement Recap 08:16 AM Once again, stocks and bonds made a modest move to start the overnight session and were then extremely flat since then.  MBS starting out up 1 tick (0.03) and 10yr yields are down 1.3bps at .653 11:00 AM Bonds are rallying nicely now as the stock market swan dives.  10yr yields down more than 4bps to .62%+ and UMBS 2.0 up an eight, quickly approaching 103.00 12:57 PM MBS outperforming as Treasuries prepare for the 30yr bond auction.  UMBS 2.0 up nearly a quarter point, now at all-time highs of 103. 01:51 PM There's a bit of a run on bonds at the moment, and it is NOT relying on stock market weakness.  10yr yields are challenging the lowest levels since mid May and UMBS 2.0 coupons are up almost 3/8ths of a point trading at 103-04 (103.125). 03:55 PM Bond rally ran out of steam--especially for MBS.  We're still stronger on the day, but more than a quarter point off the highs.  No real reason for the reversal apart from the strength that came before it.

July 9, 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 Jul 9, 2020 Fairly Innocent Wake-Up Call For Mortgage Rate Watchers Wed, Jul 8, 2020 4:08PM Mortgage rates were unchanged today for the average lender. That means they remain at all-time lows that are even lower than the all-time lows seen during the previous 3 business days. Even so, today's underlying market movement might be a bit of a wake-up call for anyone waiting to lock an interest rate. In general, the decision to lock or float a mortgage rate has had low consequences recently. While that will likely continue to be the case until the coronavirus situation meaningfully improves, it doesn't mean we should fall asleep at the wheel. We need to remain vigilant for signs that the ... (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 Recap: Bonds Making a Case For a New Trend Thu, Jul 9, 2020 4:03PM Bonds Making a Case For a New Trend We've talked a lot about the linear uptrend in bond yields that began in April.  It was defeated by the end of June and bonds began drifting sideways.  But now they may be making a case for a new trend toward lower rates. Econ... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.74 -0.33 GNMA 5.5 101.06 -0.13 GNMA 6.0 101.99 -0.20 Pricing as of: 9/9 6:03PM EST US Treasury Yield Change 2 YR Treasury 3.559 +0.072 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.820 +0.051 10 YR Treasury 4.091 +0.052 30 YR Treasury 4.728 +0.038 Pricing as of: 9/9 6:03PM EST Other News Realtors Report that their Customers are Back Thu, Jul 9, 2020 10:57AM A new survey by the National Association of Realtors® (NAR) has found that the vast majority of its members feel as though their businesses are back on track. NAR says, "After enduring months of setbacks brought on by the coronavirus pandemic... more than nine in 10 members believe they are in the process of recovering as many states start to reopen thei... (read more) Housing Market Confidence Continues to Bounce Back Wed, Jul 8, 2020 2:22PM Fannie Mae's Home Purchase Sentiment Index (HPSI) continued to rebound last month from its sharp retreat to near record lows in the Spring. The Index, based on selected responses to the company's National Housing Survey (NHS) fell an aggregate 29.5 points in March and April, in reaction to the COVID-19 crisis. It added back 4.5 points in May and gained anoth... (read more) Mortgage Application Volume Recovers its Momentum Wed, Jul 8, 2020 10:44AM Mortgage application volume bounced back into positive territory last week , even though banks and many businesses were closed on Friday for the Independence Day Holiday. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, was 2.2 percent higher on a seasonally adjusted basis, which included an adjustment for the... (read more) LO Jobs; Marketing Products; Compliance News: Is a "like" a "thing of value"? Thu, Jul 9, 2020 9:16AM United Airlines may lay off 36,000? Bed, Bath, and Beyond closing 200 stores? Walgreen’s cutting 4,000? Yup. Lower rates won’t save those jobs, but we’ll have low rates for a long time. Things are different for residential lenders. When we began 2020, who thought things would be where they are now in our biz to the point of me receiving thi... (read more) Latest Video Evictions could hit crisis level—Here's how it's impacting real estate tren... Mnuchin: We support another round of economic payments Treasury Secretary Steven Mnuchin on extending PPP loans and enhanced emplo... Allianz's El-Erian on unemployment data, earnings outlook and tech stock va... Around the Web CNBC CEO of Century 21 parent says suburban home search is up across the country, following New York's lead Calculated Risk Blog DOT: Vehicle Miles Driven decreased 26% year-over-year in May CNBC Treasury's Mnuchin backs narrower coronavirus aid package as talks with Congress resume CNBC WHO warns the coronavirus is 'getting worse,' continues to accelerate Redfin The Pros and Cons of Buying a House with a Septic Tank CNBC Wells Fargo tells new clients they need $1 million in balances for certain mortgage refinancings CNBC Record low rates make it a good time to refinance student loans, but avoid these pitfalls CNBC Empty Manhattan apartments reach record levels, landlords slash rent CNBC Weekly jobless claims total 1.314 million, vs 1.39 million estimate CNBC Fed's Bullard sees unemployment falling to as low as 7% this year CNBC Two-thirds of laid off workers eligible for benefits that exceed their wages: NBER paper Calculated Risk Blog Houston Real Estate in June: Sales Up 18.3% YoY, Inventory Down 17.5% YoY, Concerns going forward Redfin House Hunting? 10 Potential Red Flags to Be Aware of

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