Fundamental Hope But Technical Caution Fundamentals and technicals represent the two main schools of thought when it comes to market analysis (read more on that here).  Once school is suggesting a potential bounce higher for rates while the other remains hopeful.  This is a deceptively big week in terms of new information for both approaches. Econ Data / Events 11:30-11:50 AM (ET) -  Fed 30yr UMBS Buying    Market Movement Recap 08:05 AM Bonds were almost perfectly flat in very light trading overnight.  Treasuries are starting the day roughly unchanged from Friday's latest levels.  MBS are down an eighth.  Stocks are .7% higher (S&P futures). 12:02 PM Some resilience in bonds despite additional gains in equities.  Yields remain well off Friday's lows, but have now returned to 'unchanged' for the 10yr.  2.0 UMBS are down an eighth of a point at 102-18 (102.56). 03:03 PM Stocks dropped quickly at 2pm and MBS seemed to glean more of a benefit than Treasuries.  UMBS 2.0 coupons briefly turned green but weren't able to maintain the gains (now down 2 ticks or 0.06 on the day).

July 13, 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 13, 2020 Mortgage Market Ridiculously Good or Just Ridiculous? Fri, Jul 10, 2020 4:46PM It should no longer come as a surprise that the pandemic continues to create never-before-seen circumstances in all corners of society. Here in the housing and mortgage markets, one of the first major manifestations of the crisis was a quick move to incredibly low rates. With record after record being set in close succession, the mortgage environment has been ridiculously good for most homeowners. For others, it's just been ridiculous. Record low rates make a lot of sense given the economic outlook. In general, economic weakness coincides with lower rates, and there's been plenty of that to go... (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 5.5 101.10 -0.18   97.47 101.61 UMBS 30YR 6.0 102.40 -0.13   99.66 102.50 10 YR Treasury 4.083 +0.043   3.621 4.780 MBS Live Recap: Fundamental Hope But Technical Caution Mon, Jul 13, 2020 3:38PM Fundamental Hope But Technical Caution Fundamentals and technicals represent the two main schools of thought when it comes to market analysis (read more on that here).  Once school is suggesting a potential bounce higher for rates while the other remains hopeful.  This is a deceptively big week in term... (read more) MBS Price Change UMBS 5.0 99.47 -0.31 UMBS 5.5 101.09 -0.19 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.79 -0.29 GNMA 5.5 101.12 -0.07 GNMA 6.0 102.08 -0.11 Pricing as of: 9/9 5:16PM EST US Treasury Yield Change 2 YR Treasury 3.550 +0.063 5 YR Treasury 3.608 +0.046 7 YR Treasury 3.809 +0.041 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.721 +0.031 Pricing as of: 9/9 5:16PM EST Other News Sure, Rates Are Low, But It's Getting Harder to Get a Loan Thu, Jul 9, 2020 4:23PM Credit tightening is becoming more evident according to the Mortgage Bankers Association (MBA). Its Mortgage Credit Availability Index fell to a reading of 125.0 in June, a loss of 3.3 percent . A decline in the index indicates stricter lending standards. Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting explained. "Mortgage credi... (read more) Biggest Drop yet in Forbearances Brings us Back to April's Levels Fri, Jul 10, 2020 9:19AM Black Knight's weekly report on the numbers of mortgage loans in COVID-19 forbearance plans shows that a decline in those numbers of nearly a half million last week. More than 435,000 homeowners exited the plans, the largest drop yet. As of July 7, 4.14 million homeowners were in the plans which allow them to skip or reduce their mortgage payments if they ar... (read more) 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) Marketing, TPO Products; Wholesale Updates and Mudslinging Mon, Jul 13, 2020 8:59AM While in captivity it is important to remember good grooming is important . Good communication is important also. Are salespeople all on the way to having two cell phones, and two phone numbers? If you haven’t heard of Gong, your boss probably has. Gong is a “revenue intelligence platform for B2B sales teams. It helps you close more deals by shin... (read more) Latest Video Budget deficit hits $864 billion in June, $2.74 trillion year-to-date June new home sales spike as real estate market heats up Former White House Chief of Staff Mick Mulvaney on the next round of stimul... Tax audits: How long do they take, and what are the odds of getting one? Around the Web CNBC California to close indoor restaurants, movie theaters and bars statewide as coronavirus cases rise CNBC You might have a tough time getting a 'jumbo mortgage' during pandemic. Here's what to expect CNBC Dr. Anthony Fauci says U.S. coronavirus cases are surging because nation didn't totally shut down NAHB Eye on Housing Rising Softwood Lumber Costs Lead Building Materials Prices Higher in June CNBC Another round of stimulus checks? Extended unemployment? Here are answers to key money questions CNBC Robert Shiller warns that urban home prices could decline CNBC Homebuilders just saw the strongest June sales since the last housing boom, as pandemic pushes more buyers to the suburbs CNBC Homebuilders just saw the strongest June sales since the last housing boom, as pandemic pushes more buyers to the suburbs CNBC Apple to spend $400 million this year to fight California's housing crisis NAHB Eye on Housing GDP Decreases in All States and D.C. in the First Quarter of 2020 Calculated Risk Blog Six High Frequency Indicators for a Recovery NAR - Realtor.com Why a Pandemic, Recession, and Protests Aren't Keeping the Housing Market From Roaring Back CNBC Treasury yields little changed as investors monitor coronavirus spike

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