Bonds Continue Pushing The Record Pace, But MBS Are Lagging Yesterday we asked what would come next for bonds after breaking through resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next.  Such breakouts can be the cue for a corrective bounce or a quick rush of additional momentum.  It looks like we're getting the latter, although it's more apparent in Treasuries.   MBS are lagging due to increased supply, but prices nonetheless hit new all-time highs. Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:17 AM Bonds stronger overnight, largely during European session.  Weaker stocks helped.  10yr starting out just under the .54% technical level.  MBS are opening more than an eighth of a point higher. 11:31 AM Bonds are off their best levels of the morning.  At first, this was a bond-specific move, but stock strength since 10:30am is also correlated.  2.0 UMBS are now up just over an eighth of a point (versus a quarter point earlier) and 10yr yields are up to .5249 from lows of .5134. 02:55 PM Not much changed from the last update, but MBS continue dragging their feet near the lows of the day.  Treasuries, conversely, are near their best levels of the day.  Underperformance is largely due to increased supply pressure in MBS.

August 4, 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 Aug 4, 2020 Should You Wait For Lower Rates? Fri, Jul 31, 2020 5:09PM Mortgage rates have fallen more aggressively than ever and they've been remarkably willing to set record after record. So is there any reason you shouldn't wait for them to go even lower? This is an age old question any time rates fall to long-term lows. In the past, the answer has been pretty easy . If rates had fallen more than 1.5% from their previous high over the course of several years, and if something obvious happened to push them just a bit lower, it was time to refi! For example, the Fed's policy shift (in favor of mortgages) in September 2012 and the Brexit vote in 2016 both pushed ... (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 Continue Pushing The Record Pace, But MBS Are Lagging Tue, Aug 4, 2020 4:11PM Bonds Continue Pushing The Record Pace, But MBS Are Lagging Yesterday we asked what would come next for bonds after breaking through resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next.  Such breakouts can be the cue for a corrective bounce or a quick rush of additional momentum. ... (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 3.772 -0.029 10 YR Treasury 4.043 -0.044 30 YR Treasury 4.687 -0.082 Pricing as of: 9/8 4:52PM EST Other News Housing Affordability Best in Four Years, Purchase Rate Locks Surge Mon, Aug 3, 2020 11:52AM The last report from Freddie Mac put its 30-year fixed rate mortgage (FRM) at 2.99 percent, up 1 basis point from the all-time low. Black Knight, in its new Mortgage Monitor , says that has made home affordability the best in four years. As of mid-July, it required only 19.8 percent of the nation's median monthly income to make the mortgage payment on an ave... 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(read more) Ops Jobs; Marketing, Database Tools; Disaster Updates; Capital Markets Tue, Aug 4, 2020 10:11AM Sure, you’re making bank now, but are you planning for next year? Is your company doing anything to “team up”? Many lenders, vendors, and real estate companies have strategic partnerships with other companies. There’s strength in numbers, and they are not “against the law”. Here’s a new one. Online real estate compan... (read more) Latest Video Homeowners in bailouts shrink as red flags grow Housing affordability hit highest level since 2016, says Black Knight analy... 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