Robert Dietz says you can count him as among those who believe the geography of housing demand is being changed by the pandemic and the resulting recession. He also thinks some of the changes will endure beyond the dual crises. Dietz, chief economist of the National Association of Homebuilders (NAHB) says the changes aren't solely the result of what has happened this year, but a continuing evolution of the market due to already existing factors. "Declining housing affordability in high-density markets were due to limited resale inventory and insufficient levels of home building. The impact of COVID-19 on prospective home buyer concerns and preferences have accelerated these changes." He says, for example, that the virus itself is creating a competitive disadvantage for residences that require

October 13, 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 Oct 13, 2020 Interest Rates Increasingly Focused on Stimulus Fri, Oct 9, 2020 4:59PM The bond market, which drives interest rates, is in the habit of reacting to big developments that impact the economy and inflation. At present, bonds are forced to wait for several such developments, but only one of them might come into focus this month. The developments in question are all very different, but all are important in their own way. They are: The path of the pandemic and resulting impact on the economy The presidential election and resulting fiscal policy changes The much-debated 2nd installment of fiscal stimulus (covid-19 relief) Naturally, the pandemic's economic impact will t... (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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Recap: Bonds Start Strong But MBS Struggle to Keep Up Tue, Oct 13, 2020 4:36PM Bonds Start Strong After Playing Defense Last Week Last week was clearly a defensive shift for the bond market.  Yields asymptotically approached 0.79% but managed to find support at that technical ceiling.  As the new week gets underway, it looks like Traders may have just been waiting to buy at that suppo... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.14 GNMA 6.0 102.01 -0.17 Pricing as of: 9/9 5:50PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.615 +0.054 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.731 +0.041 Pricing as of: 9/9 5:50PM EST Other News Pandemic and Recession are Changing the Way People Rent and Buy Tue, Oct 13, 2020 8:54AM Robert Dietz says you can count him as among those who believe the geography of housing demand is being changed by the pandemic and the resulting recession. He also thinks some of the changes will endure beyond the dual crises. Dietz, chief economist of the National Association of Homebuilders (NAHB) says the changes aren't solely the result of what has happ... (read more) Forbearance and Late Payments are Making Mortgages Harder to Get Tue, Oct 13, 2020 8:48AM Mortgage credit tightened again in September, reaching a second successive six-year low. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) dropped another 1.9 percent to 118.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The new... (read more) Forbearances Experience Record Decline as Initial Plans Expire Fri, Oct 9, 2020 10:05AM The number of forbearance plans plunged last week as those that went into effect in the early days of the pandemic hit the end of their initial six-month terms. Black Knight said nearly one-fifth of the plans ended, as the number fell by 649,000 mortgages or 18 percent of the previous week's total. A total of 2.97 loans remain in forbearance. It was the larg... (read more) Credit, Sales, Subservicing, Fulfillment Products; Webinars and Training For Everyone Tue, Oct 13, 2020 9:04AM If I were going to open up a store for eyeglasses, I’d make the sign in front of the building blurry. Lenders now don’t have to be so clever, as we’re in the midst of about the eighth “once-in-a-lifetime” mortgage market in the last thirty years. Remember when the industry feared that strategic partnerships, MSAs, and joint vent... (read more) Latest Video This is not a big deal: Jefferies managing director on Eli Lilly pausing Co... Senate will take up Covid-19 small business relief when it returns, says Mi... U.S. Consumer Price Index rose 0.2% in September, as expected Trump raises stimulus offer to $1.8 trillion Around the Web NPR Europe Reports Record-High 700,000 COVID-19 Cases Last Week, WHO Says news.google.com Unemployment was supposed to be temporary. Now, it's permanent for almost 4 million - CNBC Calculated Risk Blog Technical Note: October Employment Report Will Show a Significant Decrease in Temporary Census Workers CNBC McConnell plans coronavirus aid vote as Pelosi says White House stimulus plan falls short Calculated Risk Blog Cleveland Fed: Key Measures Show Inflation Eased Year-over-year in September CNBC Treasury yields fall as traders weigh U.S. coronavirus stimulus prospects CNBC IMF warns of sharp adjustment' in financial markets despite 'remarkable' recovery this year CNBC Social Security cost-of-living adjustment will be 1.3% in 2021 Calculated Risk Blog BLS: CPI increased 0.2% in September, Core CPI increased 0.2% CNBC Global housing market is holding up well despite the pandemic, Jefferies strategist says Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Declines to 6.32%" Calculated Risk Blog U.S. Heavy Truck Sales down 26% Year-over-year in September NAHB Eye on Housing Mortgage-Treasury Spread Trended Lower in September

© 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.