Mortgage rates haven't moved much so far this week and they were surprisingly steady at the end of last week despite volatility in the underlying bond market. What does the bond market have to do with rates? Typically everything! But times are a bit different right now for a few reasons. The most pressing consideration for mortgage rates in recent weeks has been the introduction, delay, and impending reintroduction of a new fee that will apply to all conventional refinances. That fee effectively raises rates by 0.125-0.25%. The damage was even bigger at first due to the way it was implemented. As such, when the fee was delayed 2 weeks ago, it allowed lenders to improve mortgage rates regardless of bond market volatility. In the bigger picture , mortgage rates have already encountered quite

September 10, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Staying Fairly Steady Mortgage rates haven't moved much so far this week and they were surprisingly steady at the end of last week despite volatility in the underlying bond market. What does the bond market have to do with rates? Typically everything! But times are a bit ... (read more) Rob Chrisman Ops Jobs; QC, Marketing, VOE Tools; Primer on Credit Availability I don’t know exactly when it happened, but somewhere along the line my dog learned the noise the cheese grater makes when I pull it out of the drawer. (Taking out the vegetable peeler doesn’t elicit quite the same response.) It appears th... (read more) Housing News Consumers More Upbeat on Buying and Selling Despite Lower Price Expectations Fannie Mae says its Home Purchase Sentiment Index (HPSI) which, before a slight setback in July, had been rebounding strongly from its April COVID-19 related plunge, got back on track last month. The August index, based on responses to six questions ... (read more) Housing News Loan Originators Posted Record Profits in Q2 While servicing income was down, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks had a very profitable second quarter. They reported an average net gain of $4,548 on each loan they originated, up from a reported gain of... (read more) Housing News Mortgage Volume Bounced Back With Last Week's Lower Rates The volume of mortgage applications reversed direction last week, pulling out a small gain after three straight weeks of declines. The Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending September 4, was up ... (read more) MBS Commentary MBS Live Recap: Lock Decisions Still Hinge on Adverse Market Fee Lock Decisions Still Hinge on Adverse Market Fee The bond market had a decent showing today, ultimately rallying back into positive territory after a weaker start.  We could agonize over what amounts to ... (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 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/4 6:47AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/4 6:47AM EST Latest Video Realty Income on REITs amid the pandemic Former Fed chair Alan Greenspan: The budget deficit and entitlement program... U.S. weekly jobless claims total 884,000, vs 850,000 expected July JOLTS report sees 6.6M job openings vs. 6M expected Around the Web Calculated Risk Blog Houston Real Estate in August: Sales Up 7% YoY, Inventory Down 23% YoY CNBC At least 19 states start paying the extra $300 weekly unemployment benefit CNBC The CDC banned evictions, but some renters are still vulnerable CNBC The CDC banned evictions, but some renters are still vulnerable Calculated Risk Blog Comments on Weekly Unemployment Claims CNBC U.S. weekly jobless claims total 884,000, vs 850,000 expected NAHB Eye on Housing Refinance Poised for Further Rate Declines CNBC European Central Bank keeps rates and stimulus program unchanged, despite stronger euro NPR Pandemic Financially Imperils Nearly Half of American Households, Poll Finds CNBC Manhattan rental market plunges, leaving 15,000 empty apartments in August Redfin Housing Market Sees Biggest Uptick in New Listings in Almost 2 Years as Pending Sales Surge 21% NAHB Eye on Housing Open-Ended Credit Slowly Recovers in July Calculated Risk Blog Las Vegas Real Estate in August: Sales down 9% YoY, Inventory down 36% YoY

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