Mortgage rates were mixed today, depending on the lender. The underlying bond market (which dictates day to day changes in rates) has been more volatile in the past 48 hours compared to the past 4 weeks. Mortgage lenders respond to this volatility in different ways. It's those differences that account for higher rates for some lenders and lower rates for others. But those differences are only in day-over-day terms. In other words, one lender might be higher in rate compared to yesterday only because they didn't respond to yesterday's market volatility in a timely way. Specifically, lenders have a choice as to whether or not they will adjust their mortgage rate offerings based on market conditions. Some are jumpier than others. Quite a few lenders increased rates in the middle of the day (yesterday

October 2, 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 Oct 2, 2020 Low Rates Forever? Not Exactly, But The Word "Indefinitely" Sounds Better All The Time Thu, Oct 1, 2020 5:28PM Mortgage rates were mixed today, depending on the lender. The underlying bond market (which dictates day to day changes in rates) has been more volatile in the past 48 hours compared to the past 4 weeks. Mortgage lenders respond to this volatility in different ways. It's those differences that account for higher rates for some lenders and lower rates for others. But those differences are only in day-over-day terms. In other words, one lender might be higher in rate compared to yesterday only because they didn't respond to yesterday's market volatility in a timely way. Specifically, lenders hav... (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 99.55 +0.10   95.05 100.11 UMBS 30YR 5.5 101.06 +0.06   97.47 101.40 10 YR Treasury 4.086 -0.023   3.932 4.780 MBS Live Recap: MBS Outperformance is Actually Helping Rates Fri, Oct 2, 2020 4:31PM MBS Outperformance is Actually Helping Rates Overnight news of Trump's covid diagnosis caused some volatility in markets that was poised to help the bond market today, but upbeat headlines on fiscal stimulus pushed back in the other direction.  The result?  Same old range for Treasuries, but MBS are pushing... (read more) MBS Price Change UMBS 4.5 97.56 +0.15 UMBS 5.0 99.58 +0.13 UMBS 5.5 101.06 +0.06 GNMA 4.5 97.67 +0.16 GNMA 5.0 99.72 +0.07 GNMA 5.5 100.80 +0.01 Pricing as of: 11/4 2:40PM EST US Treasury Yield Change 2 YR Treasury 3.578 -0.031 5 YR Treasury 3.693 -0.031 7 YR Treasury 3.876 -0.029 10 YR Treasury 4.084 -0.025 30 YR Treasury 4.670 -0.024 Pricing as of: 11/4 2:40PM EST Other News Forbearances Increase For First Time in 6 Weeks Fri, Oct 2, 2020 9:40AM The number of active COVID-19 related forbearance plans grew over the past week according to Black Knight's most recent survey on the subject. The number of mortgages in forbearance rose by 21,000, the first increase in six weeks. Forbearances among loans serviced for the GSEs Fannie Mae and Freddie Mac continued to decline, down 9,000, but the number of loa... (read more) Residential Construction Spending Up 7% Thu, Oct 1, 2020 11:22AM Construction spending expanded again , with residential construction among the healthier sectors. The U.S. Census Bureau put total August public and private construction spending at a seasonally adjusted annual rate of $1.413 trillion compared to $1.393 trillion in July. This is a 1.4 percent increase and is 2.5 percent higher than the prior August. On a non... (read more) Pending Home Sales Just Hit a New All-Time High Wed, Sep 30, 2020 10:04AM Contracts for existing home purchases rose for the fourth straight month in August and more than doubled the increase expected by most analysts. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) rose from 122.1 in July to 132.8 in August, an increase of 8.8 percent. The PHSI, based on contracts to purchase existing sing... (read more) Controller, Ops, MLO Jobs; Training, SPOC, Non-QM, MERS Products; Bonds Little Changed Despite Uncertainty Fri, Oct 2, 2020 8:57AM We’re finally in October, which means one thing is certain: that all the cobwebs and dust in my house just became Halloween decorations. Markets don’t like uncertainty, but something else is certain: we’re in the month before the election that the press has been talking about for nearly four years. With the positive COVID-19 test, the U.S. ... (read more) Latest Video Mortgage bailout numbers rise to 21,000 in the past week Consumer Sentiment Index for September 80.4 vs 79 expected, best read since... Covid-19 mortgage bailouts rose by 21,000 in past week: Black Knight U.S. jobs rose by 661,000 in September, unemployment rate 7.9% Around the Web Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Increased Slightly news.google.com 'Massively concerning' jobs report sends a signal that the economic recovery could be fading - CNBC CNBC Americans could face a long wait for more federal aid if current stimulus talks fail Redfin Condo Prices Climb 5.4% in August, Lagging 11.9% Growth for Single-Family Homes Calculated Risk Blog Q3 GDP Forecasts CNBC Here's where the jobs are in one chart CNBC U.S. jobs rose by 661,000 in September, vs. 800,000 estimate news.google.com Consumers draw their cushions aggressively in September: Morning Brief CNBC Manhattan apartment sales tumble 46%, leaving 10,000 unsold apartments CNBC Number of mortgages in coronavirus bailout program jumps 21,000 after declining for six straight weeks Calculated Risk Blog Zillow Case-Shiller Forecast: Year-over-year House Price Growth to Increase Significantly in August CNBC September job growth should be lessthan August as final report before the election hits Calculated Risk Blog Hotels: Occupancy Rate Declined 31.5% Year-over-year

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