Many of today's mortgage-related headlines are touting "new all-time lows," but there are significant caveats. The biggest caveat would likely be the fact that the average 30yr fixed rate is actually nowhere near its previous all-time lows! So why are there so many headlines saying otherwise? Issue 1: Freddie Mac's Weekly Rate Survey Freddie conducts the longest-running weekly mortgage rate survey in the biz. If you're not worried about nitty gritty details or day to day movement, it's plenty accurate and consistent. That's why the industry and news media have grown to rely on it for a quick, rough take on mortgage rates every Thursday morning. The problem with Freddie's survey is that it's a quick rough take every Thursday morning. It doesn't go into nitty gritty detail--the kind that could

October 16, 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 16, 2020 No, Mortgage Rates Are NOT Actually At All-Time Lows Thu, Oct 15, 2020 4:21PM Many of today's mortgage-related headlines are touting "new all-time lows," but there are significant caveats. The biggest caveat would likely be the fact that the average 30yr fixed rate is actually nowhere near its previous all-time lows! So why are there so many headlines saying otherwise? Issue 1: Freddie Mac's Weekly Rate Survey Freddie conducts the longest-running weekly mortgage rate survey in the biz. If you're not worried about nitty gritty details or day to day movement, it's plenty accurate and consistent. That's why the industry and news media have grown to rely on it for a quick, ... (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 99.69 +0.11   95.05 100.47 UMBS 30YR 5.5 101.14 +0.11   97.47 101.61 10 YR Treasury 4.067 -0.014   3.706 4.780 MBS Live Recap: MBS Defy Odds as Bond Bulls Fail For 3rd Straight Day Fri, Oct 16, 2020 4:04PM MBS Defy Odds as Bond Bulls Fail For 3rd Straight Day After failing back to back attempts to retake the recent sub-.72 range, 10yr yields didn't even try today.  Part of the problem was a stronger Retail Sales report this morning, which had a surprisingly clear impact on the market--at least for an hour.  B... (read more) MBS Price Change UMBS 4.5 97.71 +0.08 UMBS 5.0 99.70 +0.11 UMBS 5.5 101.14 +0.11 GNMA 4.5 98.09 +0.08 GNMA 5.0 99.99 +0.17 GNMA 5.5 101.01 +0.12 Pricing as of: 9/18 1:30AM EST US Treasury Yield Change 2 YR Treasury 3.539 -0.024 5 YR Treasury 3.635 -0.021 7 YR Treasury 3.819 -0.020 10 YR Treasury 4.067 -0.014 30 YR Treasury 4.667 -0.021 Pricing as of: 9/18 1:30AM EST Other News Pandemic Throwing Millions into Rent, Mortgage, and Student Loan Peril Fri, Oct 16, 2020 9:40AM The pandemic is endangering the credit histories of at least 30 million Americans and possibly threatening the shelter status of many of them. The Mortgage Bankers Associations' (MBA's) Research Institute for Housing America (RIHA) said on Friday that over 6 million households missed making rent or mortgage payments in September and 26 million individuals di... (read more) Forbearances Up Slightly After Last Week's Plunge Fri, Oct 16, 2020 10:30AM Last week Black Knight reported that the beginning of October saw a decline in the number of active forbearance plans of 649,000 or 18 percent as many plans reached the end of their initial period. It was the largest single week decline since the crisis began. This week the number of loans in forbearance edged up a bit. The company reported an increase of 19... (read more) Troubling Unemployment Numbers Eclipsed by a Strong Housing Market Thu, Oct 15, 2020 12:09PM Although the housing market continues to show strength, Freddie Mac economists say there are increasingly troubling signs in the larger economy. The third quarter forecast from the company's Economic and Housing Research Group notes an apparent stall in economic activity in early July. Even as many businesses reopened, unemployment claims continued at elevat... (read more) MLO, Ops Jobs; MSR Valuation, Training, Non-QM, Retention, Tax Tools; New Jumbo Wholesaler; 2006 vs. 2019: Nothing is Forever Fri, Oct 16, 2020 9:06AM What’s more important, spending money on the latest iPhone, or taking care of your body? Every Thursday we receive Initial Jobless Claims statistics, and usually on the first Friday of the month we receive a set of employment data. But who makes up these numbers? Per the most recent U.S. Census Bureau “County Business Patterns,” the 907k bu... (read more) Latest Video This holiday season could be the first time sales are left on the table: Re... Industrial production dropped 0.6% in September, vs 0.5% increase expected Preliminary consumer sentiment climbs higher than expected in October Retail sales rise 1.9% in September, vs 0.7% expected Around the Web Redfin What Hurts a Home Appraisal? And 7 Things You Can Do to Fix Them CNBC U.S. government budget ends fiscal year with a more than $3 trillion deficit Calculated Risk Blog Q3 GDP Forecasts CNBC States face Friday deadline from CDC to submit plans to distribute coronavirus vaccine Calculated Risk Blog Industrial Production Decreased 0.6 Percent in September; 7.1% Below Pre-Crisis Level CNBC Retail sales rise 1.9% in September, vs 0.7% expected news.google.com Shares retreat on coronavirus resurgence, fading U.S. stimulus hopes CNBC Hotels on demand: Operators are selling 'subscriptions' to lure back visitors twitter.com FreddieMac: The avg. 30-Yr FRM hits record low at 2.81% CNBC No doubt' that crucial U.S. fiscal stimulus is coming, IMF managing director says CNBC 'Hottest real estate market in the world' may be Palm Beach, Florida, brokers say Calculated Risk Blog Hotels: Occupancy Rate Declined 29.2% Year-over-year NAHB Eye on Housing Remodeling Industry Confidence Surges in Third Quarter

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