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: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 14, 2020 Mortgage Rates Slightly Lower Tue, Oct 13, 2020 4:56PM 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" has accounted for the biggest day-to-day differences in rates for any given lender who flipped the switch. Those days vary by lender because the fee's deadline applies to a post-closing event for lenders that cannot be accurately predicted. In other words, they know they'll pay the fee on any loans delivered to the housing agencies on or after Decemb... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.81 +0.22   95.05 100.47 UMBS 30YR 5.5 101.22 +0.19   97.47 101.61 10 YR Treasury 4.042 -0.039   3.706 4.780 MBS Live Recap: Timid Treasuries Plus MBS Outperformance Suggest Caution Wed, Oct 14, 2020 4:35PM 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.  As the new week gets underway, it looks like Traders may have just been waiting to buy at that supportiv... (read more) MBS Price Change UMBS 4.5 97.81 +0.18 UMBS 5.0 99.80 +0.21 UMBS 5.5 101.21 +0.18 GNMA 4.5 98.17 +0.16 GNMA 5.0 100.06 +0.24 GNMA 5.5 101.06 +0.18 Pricing as of: 9/18 7:00AM EST US Treasury Yield Change 2 YR Treasury 3.523 -0.041 5 YR Treasury 3.613 -0.043 7 YR Treasury 3.797 -0.042 10 YR Treasury 4.045 -0.036 30 YR Treasury 4.646 -0.042 Pricing as of: 9/18 7:00AM EST Other News Mortgage Rates Hit Record Lows but Applications Fell Flat Wed, Oct 14, 2020 9:34AM 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 ... (read more) Late-Stage Delinquencies Now Twice Great Recession Peak Tue, Oct 13, 2020 1:08PM 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-percentage point increase in the overall delinquency rate compared to July 2019, when it was 3.8 percent. It was, howe... (read more) California Law Seeks to Restrain Wall Street's Potential Landlords Tue, Oct 13, 2020 1:04PM 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 will give tenants, affordable housing groups and local governments the first crack at buying foreclosed homes. As... (read more) Controller, Ops, MLO Jobs; CFO for Hire; Appraisal, Broker Tools; Treasury Auction Primer Wed, Oct 14, 2020 9:39AM 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 similar topics together. Not today, so fasten your seatbelts for truth and satire. If you’re thinking a... (read more) 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

© 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.