After falling moderately to start the week, mortgage rates put in a calmer performance on Tuesday. As we discussed yesterday, volatility in the bond market results in lenders making changes to their mortgage rate offerings. Sometimes the volatility is big enough that those changes occur intraday despite lenders generally preferring to set rates only one time on any given day. With that in mind, the ingredients are in place for more change tomorrow . Reason being: late day tweets from Trump threatened to withhold stimulus until after the election. Markets entered a logical tailspin resulting in significant stock losses and improvements for bonds. To reiterate yesterday's conversation, these sorts of bond market improvements typically result in lower rates. The catch is that the tweets were late

October 7, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Roughly Unchanged Today. Tomorrow Could be a Different Story After falling moderately to start the week, mortgage rates put in a calmer performance on Tuesday. As we discussed yesterday, volatility in the bond market results in lenders making changes to their mortgage rate offerings. Sometimes the volatility i... (read more) Rob Chrisman VOE, Valuation, Accounting CRA Eligibility Products; Training and Events You have a couple workdays under your belt this week, so let’s take a one paragraph break from mortgage stuff. Pumpkin patches are here, and every parent worth their salt tells kids that unpurchased pumpkins grow into Christmas trees in two mon... (read more) Housing News Refi Application Volume Recovers From Last Week's Loss The Mortgage Bankers Association (MBA) said the volume of purchase mortgage applications declined for a second week but refinancing more than recovered from last week's 7 percent loss. MBA's Market Composite Index, a measure of mortgage loan applicat... (read more) Housing News Almost 400,000 Delinquent Homeowners Have Better Options The Urban Institute (UI) estimates that there are about 400,000 homeowners who have become "needlessly delinquent" as a result of the COVID-19 pandemic. UI analysts Michael Neal and Linda Goodman credit the Coronavirus Aid, Relief, and Economic Secur... (read more) Housing News July's Home Prices Increase by 5.5%, Breaking a Two-Year Record Entry-level priced homes, which continue to be in short supply, are, helping to drive strong price gains. CoreLogic says home prices nationwide, including distressed sales, increased year over year by 5.5 percent in July 2020 and were up 1.2 percent ... (read more) MBS Commentary MBS Live Recap: Dashed Hopes For Bond Bounce After Trump Tweet Reversal Dashed Hopes For Bond Bounce After Trump Tweet Reversal Tuesday was going poorly for bonds until a Trump Tweet threatening to withhold stimulus until after the election sent markets into a tailspin.  Hou... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 +0.07 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.06 +0.09 GNMA 6.0 101.47 +0.06 Pricing as of: 7/3 5:01AM EST 10 Year US Treasury 4.2592 -0.0206 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.018 5 YR Treasury 3.847 -0.020 7 YR Treasury 4.034 -0.023 10 YR Treasury 4.258 -0.022 30 YR Treasury 4.784 -0.024 Pricing as of: 7/3 5:01AM EST Latest Video Fed is leaving room to adjust policy: Allianz's McKinney Treasury sells $35 billion in 10-year notes Fed: Path of rates will depend on evolution of the economic outlook Powell: More risk to economy from doing too little on stimulus than too muc... Around the Web CNBC As stimulus talks falter, the U.S. economy faces growth coming to a halt NAR - Realtor.com As Trump Says He's Abandoned Stimulus Talks, Renters and Landlords Face a Financial Cliff CNBC Fed releases minutes from meeting where it held rates steady and outlined inflation strategy Calculated Risk Blog Update: Framing Lumber Prices Up 65% Year-over-year CNBC Less than 11% of people with federal student debt are repaying their loans during Covid-19 news.google.com Currencies Tumble as Trump Pulls Plug on Stimulus Talks news.google.com Fed Chair Powell calls for more help from Congress, says there's a low risk of 'overdoing it' CNBC Trump says he's calling off stimulus negotiations with Democrats 'until after the election' Redfin Redfin Survey: 22% of Homebuyers and Sellers Say the Presidential Election Is Impacting Their Plans NPR Fed's Jerome Powell Calls For More Economic Aid, Warning 'Weakness Feeds On Weakness' Calculated Risk Blog Reis: Office, Mall and Apartment Vacancy Rates Increased in Q3 Calculated Risk Blog Las Vegas Real Estate in September: Sales up 16% YoY, Inventory down 31% YoY Calculated Risk Blog Fed Chair Powell: Recent Economic Developments and the Challenges Ahead

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