Nice Recovery But Resistance Remains Rates were under pressure overnight with 10yr hitting the highest yields in more than 2 weeks.  Since then, bonds have surged back into stronger territory but remain more or less blocked by the same old floor.  Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) Consumer Confidence 92.6 vs 94.5 f'cast , 98.3 prev Market Movement Recap 08:16 AM Bond weakness continued during Asian hours, but reversed course in the European session.  Domestic trading is starting out just barely stronger for bonds and weaker for stocks. 09:16 AM 8:20am CME open brought buyers, plain and simple.  It wasn't huge, but it was enough for a few bps of strength in Treasuries and nearly an eighth of a point of gains in MBS.  Stocks aren't doing anything interesting yet.  No other market movers in play.   01:02 PM MBS were already at best levels, but Treasuries are heading back in that direction after a strong 7yr auction.  MBS up a quarter point.  10yr yield down nearly 3bps.  Stocks have been rising, but still a hair weaker on the day. 03:37 PM Best levels of the day now, potentially benefiting from stock market losses.  10yr yields challenging the .58% floor (but not clearly breaking it).  2.0 UMBS up a quarter point at 103.125.  

July 28, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.33% -0.01%   6.13% 7.26% 15 Yr. Fixed 5.80% -0.02%   5.6% 6.59% 30 Yr. Jumbo 6.35% +0.03%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jul 28, 2020 Mortgage Rates Edge Slightly Higher Again Mon, Jul 27, 2020 4:58PM Mortgage rates have been falling so much and with such regularity in 2020 that there's scarcely been a reason (or even an opportunity) to talk about anything else. Now suddenly, we have 2 straight business days with the average lender's rates getting modestly worse. Is this the beginning of the end? Maybe... Probably not, but that's not the point. The point I will continue to make about this record-breaking run into the lowest rate range ever is that it will come to an end at some point. Putting it in those words makes it seem obvious, but you wouldn't know that based on the average prognostic... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.33% -0.01 0.00 15 Yr. Fixed 5.80% -0.02 0.00 30 Yr. FHA 6.05% -0.01 0.00 30 Yr. Jumbo 6.35% +0.03 0.00 7/6 SOFR ARM 5.95% -0.03 0.00 30 Yr. VA 6.06% -0.02 0.00 Updates Daily - Last Update: 11/4 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.56 +0.10   95.05 100.11 UMBS 30YR 5.5 101.05 +0.05   97.47 101.40 10 YR Treasury 4.084 -0.025   3.932 4.780 MBS Live Recap: Nice Recovery But Resistance Remains Tue, Jul 28, 2020 3:42PM Nice Recovery But Resistance Remains Rates were under pressure overnight with 10yr hitting the highest yields in more than 2 weeks.  Since then, bonds have surged back into stronger territory but remain more or less blocked by the same old floor.  Econ Data / Events ... (read more) MBS Price Change UMBS 4.5 97.57 +0.15 UMBS 5.0 99.57 +0.12 UMBS 5.5 101.07 +0.07 GNMA 4.5 97.65 +0.14 GNMA 5.0 99.71 +0.06 GNMA 5.5 100.81 +0.02 Pricing as of: 11/4 5:27PM EST US Treasury Yield Change 2 YR Treasury 3.576 -0.033 5 YR Treasury 3.695 -0.030 7 YR Treasury 3.876 -0.029 10 YR Treasury 4.085 -0.024 30 YR Treasury 4.667 -0.026 Pricing as of: 11/4 5:27PM EST Other News Q2 Homeownership Hits 12-Year High Tue, Jul 28, 2020 11:53AM The U.S. homeownership rate moved significantly higher in the second quarter of 2020, reaching the highest level since the third quarter of 2008 at a rate of 67.9 percent. The U.S. Census Bureau reported the rate in the first quarter of the year was 65.3 percent and it was 64.1 percent a year earlier. Homeownership topped 69 percent for most of 2004 and into... (read more) May Home Prices Unexpectedly Stall Tue, Jul 28, 2020 11:48AM Home prices increases slowed slightly in May on both a month-over-month and an annual basis according to the S&P CoreLogic Case-Shiller Indices. The U.S. National Home Price Index which covers all nine U.S. census divisions, rose 4.5 percent in May compared to a year earlier. In April, the annual gain was 4.6 percent. There was an increase of 0.7 percent... (read more) Housing Affordability is Still a Challenge, but Improving Mon, Jul 27, 2020 11:39AM The National Association of Home Builders' (NAHB') Housing Trends Report for the second quarter of 2020 found slightly less than a quarter of prospective home buyers could afford a median-priced home in their local markets, leaving 77 percent shut out. However, Rose Quint, writing in NAHB's Eye on Housing blog, calls that an improvement from a year ago when ... (read more) Sales, Workflow, Customer Service Tools; Black Knight to Acquire OB for $1.8bn Tue, Jul 28, 2020 9:37AM I could see that my cat Myrtle was miffed last night. I doubt if it had anything to do with the supply chain issues impacting appliances and new home construction, although her mini-frig has been on back-order for two months. My guess is that it had something to do with the latest “Arctic Char Quarterly’s Most Connected” list not including ... (read more) Latest Video CNBC Survey: 85 percent say unemployment rate has already peaked U.S. consumer confidence for July misses expectations Here's what's in the GOP coronavirus stimulus proposal Another covid-spending bill will pass, likely before August recess: Public ... Around the Web NAR - Realtor.com The Surprising Reason Why the Homeownership Rate Surged in the Middle of a Pandemic Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices CNBC Senate HEALS Act does not extend federal eviction moratoriumhere's what to know Calculated Risk Blog HVS: Q2 2020 Homeownership and Vacancy Rates Calculated Risk Blog Richmond Fed: "Manufacturing in the Fifth District showed signs of recovery in July" Calculated Risk Blog Case-Shiller: National House Price Index increased 4.5% year-over-year in May Redfin 20% of Winning Home Offers Waived the Inspection Contingency in June, Up From 13% Last Year NAR - Realtor.com Millions of Americans Could Soon Become Homeless as Protections Expire CNBC U.S. Treasury yields higher ahead of Fed meeting Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency Rate increased sharply in June, Highest in 7 Years Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases for Sixth Straight Week to 7.74%" of Portfolio Volume CNBC Coronavirus outbreak show signs of slowing in Arizona, Texas and Florida NAR - Realtor.com Jumbo Mortgage Rates Are No Longer the Cheapest Mortgages Around

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