There are quite a few more new stories than normal about mortgage rates today. Most of them are wrong. This one is not, and it's pretty easy to see why. Freddie Mac releases its weekly mortgage rate survey every Thursday morning. The survey accepts responses from Monday through Wednesday, but based on a comparison of day-to-day rates versus the survey numbers, it would appear Monday's rates get most of the weight, Tuesday's slightly less, and Wednesday's almost none. In other words, the survey has historically compared Mon/Tue rates to Mon/Tue rates. That's not a problem if that was made more clear by the throng of journalists that cite the survey as the definitive word in week-over-week rate movement. As it stands, however, we have headlines unequivocally proclaiming mortgage rates are at

August 7, 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 Aug 7, 2020 Most Mortgage Rate Headlines Are Wrong Today Thu, Aug 6, 2020 5:05PM There are quite a few more new stories than normal about mortgage rates today. Most of them are wrong. This one is not, and it's pretty easy to see why. Freddie Mac releases its weekly mortgage rate survey every Thursday morning. The survey accepts responses from Monday through Wednesday, but based on a comparison of day-to-day rates versus the survey numbers, it would appear Monday's rates get most of the weight, Tuesday's slightly less, and Wednesday's almost none. In other words, the survey has historically compared Mon/Tue rates to Mon/Tue rates. That's not a problem if that was made more ... (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 5.5 101.07 +0.00   97.47 101.61 UMBS 30YR 6.0 102.38 +0.00   99.66 102.50 10 YR Treasury 4.092 +0.009   3.621 4.780 MBS Live Recap: More Defensive After Jobs Report, But Not Necessarily Because of it Fri, Aug 7, 2020 3:01PM More Defensive After Jobs Report, But Not Necessarily Because of it The jobs report was hard-pressed to live up to its historical market movement potential this morning, but it did its best to surprise markets.  Bonds reacted momentarily but quickly traded in the opposite direction.  The rest of the day bro... (read more) MBS Price Change UMBS 5.0 99.45 +0.01 UMBS 5.5 101.07 0.00 UMBS 6.0 102.37 0.00 GNMA 5.0 99.74 +0.01 GNMA 5.5 101.02 -0.02 GNMA 6.0 102.02 +0.04 Pricing as of: 9/10 7:58AM EST US Treasury Yield Change 2 YR Treasury 3.550 -0.018 5 YR Treasury 3.614 -0.013 7 YR Treasury 3.816 -0.016 10 YR Treasury 4.093 +0.010 30 YR Treasury 4.747 +0.012 Pricing as of: 9/10 7:58AM EST Other News Another Wave of Forbearances is Probably On The Way Fri, Aug 7, 2020 8:30AM There was a significant decline in the number of active COVID-19 related forbearance plans over the past week, but that decrease did not necessarily mean homeowners were emerging from financial difficulties. Black Knight said its weekly survey found 101,000 fewer loans in forbearance, leaving just over 4 million or 7.5 percent of servicer portfolios in activ... (read more) Foreign Buyers are Pumping the Brakes on Home Purchases Thu, Aug 6, 2020 11:43AM Foreign buyers cut back their investment in U.S. residential properties over the 12 months that ended in March. It was the second year-over-year decline. The National Association of Realtors® (NAR) annual survey among its members about their transactions with international clients found foreign buyers purchased $74 billion in existing U.S. homes from Apr... (read more) Maybe Home Prices Aren't in Trouble After All? Wed, Aug 5, 2020 9:58AM Home prices increased in June at the fastest pace in more than seven years. CoreLogic said its Home Price Index (HPI) rose 1.0 percent from May, the largest month-over-month gain since January 2013. The appreciation from April to May was 0.7 percent. Prices rose year-over-year by 4.9 percent compared to 4.1 percent in May. "Home price appreciation continues ... (read more) Ops Jobs; Reverse, Training, VA Tools and Products; Ellie's $11 billion Sale and Other Vendor News Fri, Aug 7, 2020 9:12AM Let me get this straight. It’ll take a year or two for a cure for a virus that can be killed with hand sanitizer, soap, and hot water? COVID is driving our economy, driving headlines, driving working from home and managing employees working from home , and driving the behavior of residential lenders. Speaking of headlines, two Michigan lenders were in ... (read more) Latest Video Coronavirus stimulus deal falls apart—Here's what both sides are saying The U.S. economy added nearly 1.8 million jobs in July—Three experts break ... U.S. jobs rise by 1.763 million in July, vs 1.48 million expected How the July jobs report could inform what's in the next round of stimulus Around the Web CNBC Zillow CEO: Real estate market is beginning 'great reshuffling' as people seek more space at home CNBC Markets could be challenged by Washington stimulus talks and China tensions Calculated Risk Blog Hotels: Occupancy Rate Declined 35% Year-over-year CNBC Canada to impose tariffs on $2.7 billion in U.S. goods after Trump reignites trade feud CNBC Pandemic home remodeling is booming: Here's what your neighbors are doing CNBC The jobs report was better than expected, but market worries gains will be fleeting without stimulus Calculated Risk Blog Comments on July Employment Report CNBC U.S. jobs rise by 1.763 million in July, vs 1.48 million expected CNBC Treasury yields fall ahead of key jobs report; stimulus talks continue CNBC 32% of Americans had outstanding housing payments at the beginning of August CNBC Mortgage rates hit another record low, but homes are still less affordable NAR - Realtor.com The number of Americans skipping mortgage payments is falling except among these borrowers Calculated Risk Blog July Employment Preview

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.