The volume of mortgage applications dipped slightly last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, was down 0.7 percent on a seasonally adjusted basis during the week ended October 9 and was 1 percent lower on an unadjusted basis. The Refinance Index slipped 0.3 percent from the previous week and was 44 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 65.6 percent of total applications from 65.4 percent the previous week. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier and 1 percent unadjusted. The Index was 24 percent higher than the same week one year ago, continuing a string of year-over-year gains that started during the week ended May 22. Refi

October 14, 2020 Download our Mobile App: Download our Mobile App: Housing News Mortgage Rates Hit Record Lows but Applications Fell Flat The volume of mortgage applications dipped slightly last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, was down 0.7 percent on a seasonally adjusted basis during the week ended October 9 and w... (read more) Rob Chrisman Controller, Ops, MLO Jobs; CFO for Hire; Appraisal, Broker Tools; Treasury Auction Primer I really wanted to mix things up today so decided to send this commentary out from the other side of the dining room table this morning. Yippee! Speaking of mixing things up, usually I maintain a train of thought through my opening paragraph, putting... (read more) Housing News Late-Stage Delinquencies Now Twice Great Recession Peak Mortgage delinquencies continued to rise in July according to CoreLogic's new loan performance report. The company found that 6.6 percent of all mortgages were at least 30 days past due (including those in foreclosure.) This represents a 2.8-percenta... (read more) Mortgage Rate Watch Mortgage Rates Slightly Lower Mortgage Rates have been exceptionally calm recently. The only major exception has been the implementation, delay, and re-implementation of a new fee that affects almost all refinance transactions. The coming and going of this "adverse market fee" ha... (read more) Housing News California Law Seeks to Restrain Wall Street's Potential Landlords California is taking steps to avoid a repeat of the conversion of thousands of single-family homes from ownership to rental properties as occurred during the Great Recession. In late September, the state's governor Gavin Newson signed a bill that wil... (read more) MBS Commentary MBS Live Recap: Timid Treasuries Plus MBS Outperformance Suggest Caution Bonds Start Strong But MBS Struggle to Keep Up 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.&... (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 6.0 101.46 +0.06 Pricing as of: 7/3 5:05AM EST 10 Year US Treasury 4.2592 -0.0206 Price / Yield Change US Treasury 2 YR Treasury 3.771 -0.017 5 YR Treasury 3.848 -0.019 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.258 -0.022 30 YR Treasury 4.785 -0.024 Pricing as of: 7/3 5:05AM EST Latest Video Pelosi, Mnuchin continue discussions on stimulus proposals U.S. producer prices rose more than expected in September 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... Around the Web NPR Paris Under Curfew: Europe Reacts As Countries See Highest-Ever Coronavirus Numbers Calculated Risk Blog Houston Real Estate in September: Sales Up 32% YoY, Inventory Down 25% YoY news.google.com Landlords feel the financial squeeze as coronavirus pandemic continues Calculated Risk Blog House Prices to National Average Wage Index CNBC Watch: Treasury Secretary Mnuchin speaks as White House, Democrats try to strike stimulus deal Calculated Risk Blog House Prices and Inventory NAHB Eye on Housing Real Rent Index Decline Continues in September CNBC Treasury yields are little changed as traders weigh latest coronavirus and stimulus news CNBC Fed Vice Chair Clarida says economy needs 'perhaps another year' to return to pre-pandemic level Calculated Risk Blog MBA: Mortgage Applications Decrease in Latest Weekly Survey CNBC How the U.S. election could affect Europe's markets, economy and trade CNBC Pelosi, Mnuchin speak about coronavirus stimulus again as stalemate drags on NPR Europe Reports Record-High 700,000 COVID-19 Cases Last Week, WHO Says

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