Markets continue to focus on coronavirus numbers first and foremost. When the news is good , we tend to see stocks and rates move higher. When the news is bad , rates tend to fall and stocks struggle to improve. The movement is usually more pronounced for stocks. When it comes to rates, however--especially mortgage rates--recent volatility is taking place at a microscopic level compared to recent months. This could continue to be the case until we get a much clearer sense of how the pandemic will likely evolve in the context of our attempts to reopen the domestic economy. Until that happens, of all the places to be flying in a relative holding pattern, this is as good as it gets for mortgage rates. When coronavirus first hit the bond market, it was US Treasuries that responded most convincingly

July 21, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Is It Already Time To Refinance Again? Markets continue to focus on coronavirus numbers first and foremost. When the news is good , we tend to see stocks and rates move higher. When the news is bad , rates tend to fall and stocks struggle to improve. The movement is usually more pronounce... (read more) MBS Commentary MBS Live Recap: "Flat" is an Understatement "Flat" is an Understatement Recent trading activity lies in stark contrast to the drama seen earlier in 2020.  Even at the beginning of June, bonds still had an interesting (and scary, at first) story to... (read more) Rob Chrisman eClosing, Broker, Servicing Products; USDA Rural Tidbits; Forbearance Stats Improving Originators, as Deb from Virginia reminded me, are currently like ducks: cool and calm on the surface, paddling frantically underneath. Originators like low rates, but not if their clients can’t qualify for a loan. Furloughs are becoming perman... (read more) Housing News Construction Continues Post-Plunge Gains All three measures in the Census Bureaus June residential construction report moved higher , as the building industry continued to recover from its April collapse. However, of the three, only the rate of units completed was higher than its June 2019 ... (read more) Housing News Average FICO Scores Rise 9 Points Since March The interest rates on mortgage loans that closed in June averaged 3.40 percent, down 3 basis points from the average in May according to Ellie Mae's Origination Insight Report. The rate for 30-year conventional loans was 3.42 percent compared to 3.44... (read more) Housing News Forbearance Plan Numbers at Lowest Levels Since May There was another decline in forbearance starts this past week and the number of loans in active plans also fell for the third straight week. Black Knight's weekly report on COVID-19 related forbearances reported a total of 4.12 million loans that ha... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.68 +0.04 Price / Yield Change MBS UMBS 5.5 99.68 +0.04 UMBS 6.0 101.47 +0.04 GNMA 5.5 99.89 +0.03 GNMA 6.0 101.38 +0.03 Pricing as of: 7/7 6:40AM EST 10 Year US Treasury 4.3497 +0.0030 Price / Yield Change US Treasury 2 YR Treasury 3.868 -0.015 5 YR Treasury 3.927 -0.010 7 YR Treasury 4.121 -0.004 10 YR Treasury 4.350 +0.003 30 YR Treasury 4.881 +0.017 Pricing as of: 7/7 6:40AM EST Latest Video This market strategist explains why the Fed has to go bigger Next coronavirus relief bill likely in August The Week Ahead: Big week of earnings Senate Majority Leader Mitch McConnell lays out plan for next Covid-19 stim... Around the Web Calculated Risk Blog New York City Subway Usage CNBC Key Senate committee approves Shelton, Waller for Fed positions CNBC Employment recovery going backward in states hit hard by virus, small business data shows NPR Record Low Mortgage Rates Put More Cash In Pockets, But May Not Boost Economy Much CNBC That extra $600 unemployment benefit may end sooner than many think Calculated Risk Blog Thoughts on CARES II: Additional Disaster Relief NAHB Eye on Housing Home Purchase Plans Have Not Significantly Changed Because of COVID-19 CNBC A second Great Depression? Unemployment crisis hits big cities hard NAHB Eye on Housing Freddie Mac Identifies 1.4 Million ADUs Calculated Risk Blog Chicago Fed National Activity "Index Suggests Economic Growth Increased Further in June" NPR EU Agrees To $858 Billion In Grants, Loans To Bailout Pandemic-Battered Economies CNBC Germany's coronavirus response is a master class in science communication Calculated Risk Blog Lawler: Serious Delinquency Rate on FHA-Insured SF Loans Surged in June

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