Pending home sales soared again in June, although the liftoff was relatively shallow compared to the 43 percent increase in May. The National Association of Realtors'® (NAR's) Pending Home Sales Index (PHSI). The index, a forward-looking indicator based on contracts to purchase existing homes, rose 16.6 percent compared to May, and increased year-over-year by 6.3 percent. The index is now at 116.1. The two months of improving activity have brought the index back from its April level of 69.0 where it landed after falling by more than 20 percent in both that month and in March as much of the nation was shut down by the COVID-19 pandemic. The gains were above even the best guesses by analysts polled by Econoday. Their predictions ranged from a 10 percent downturn to gains of 15.6 percent.

July 29, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jul 29, 2020 Mortgage Rates Mixed, Depending on Lender Tue, Jul 28, 2020 5:05PM Mortgage rates did something over the past 3 days that they haven't done since early June . They moved sideways to slightly higher ! At the same time, interest rates in the broader bond market have been flashing a warning that the past 6 weeks of improvement might be meeting some resistance. While that still may turn out to be the case, today was ultimately a victory, but there's a catch. Today was a victory in the sense that the underlying bond market improved enough for most mortgage lenders to offer slight improvements. The catch is that those bond market gains happened gradually throughout... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Recap: Bonds Break Key Levels After Fed Wed, Jul 29, 2020 4:34PM Bonds Break Key Levels After Fed Both MBS and Treasuries were right on the edge of their recent ranges heading into Fed day.  MBS broke their range right out of the gate while Treasuries waited until the Fed was done before their breakout.  If this positive momentum retreats tomorrow, it will be a great loc... (read more) MBS Price Change UMBS 5.0 99.74 +0.27 UMBS 5.5 101.27 +0.15 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.09 +0.27 GNMA 5.5 101.22 +0.09 GNMA 6.0 102.16 +0.02 Pricing as of: 9/8 4:52PM EST US Treasury Yield Change 2 YR Treasury 3.495 -0.023 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.771 -0.030 10 YR Treasury 4.042 -0.045 30 YR Treasury 4.687 -0.083 Pricing as of: 9/8 4:52PM EST Other News Pending Home Sales Continue Remarkable Rebound Wed, Jul 29, 2020 10:59AM Pending home sales soared again in June, although the liftoff was relatively shallow compared to the 43 percent increase in May. The National Association of Realtors'® (NAR's) Pending Home Sales Index (PHSI). The index, a forward-looking indicator based on contracts to purchase existing homes, rose 16.6 percent compared to May, and increased year-over-ye... (read more) Freddie Mac's Volume Increased in June, Delinquencies Skyrocketed Wed, Jul 29, 2020 9:22AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 14.2 percent in June compared to a 5.5 percent gain in May. The portfolio balance at the end of the period was $2.46 trillion compared to $2.407 trillion at the end of May and $2.239 trillion a year earlier. The growth rate for the year to date is 9.0 percent.... (read more) Mortgage Apps Pull Back for the First Time in a Month Wed, Jul 29, 2020 8:37AM Mortgage application volume declined for the first time in four weeks during the week ended July 24. The Mortgage Bankers Association (MBA) said is Market Composite Index, a measure of that volume, was down 0.8 percent on a seasonally adjusted basis from the prior week and down 1 percent before adjustment. The Refinance Index dipped 0.4 percent from the prev... (read more) Underwriting, Subservicing, AVM, Pricing Tools; Conforming Conventional Updates Wed, Jul 29, 2020 9:35AM You’ve made it to Hump Day yet again, and as a reward, how about this webcam shot of Warrior Canine Connection’s Puppy Cam ?! (Hey, it’s my commentary; I can put in anything I want, right?) I hope those pups have a long healthy life. Regardless of political party, millions of Americans who get health coverage from employers could lose their... (read more) Latest Video We're not even thinking about raising rates, says Fed chair Jerome Powell Federal Reserve says it will keep interest rates near zero until economy pi... How the economy could be impacted if coronavirus stimulus is delayed CNBC Survey: 85 percent say unemployment rate has already peaked Around the Web CNBC Fed holds rates steady, says economic growth is 'well below' pre-pandemic level CNBC Mnuchin says Republicans and Democrats are 'far apart' on coronavirus relief bill as talks continue CNBC 'We're running out of homes for sale,' Lake Tahoe brokers say as tech workers flee Bay Area Calculated Risk Blog Census: Household Pulse Survey shows 26.5% Missed or Expect to Miss Rent or Mortgage Payment CNBC Pending home sales surge for the second consecutive month as the Realtors raise their forecast for 2020 CNBC GOP senator urges Congress to pass unemployment benefit replacement by Friday CNBC Make over $55,000? Unemployment benefits may replace less than 70% of your wages under HEALS Act CNBC Powell is expected to say the Fed will keep doing whatever it can while it considers its next move CNBC Treasury yields edge higher ahead of Fed interest rate decision 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

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