It began last week. It was subtle--so subtle as to pass largely unnoticed. But the gentle drift toward slightly higher rates has taken bigger steps so far this week. As of this afternoon, the average lender is quoting the highest rates since late September! That's quite a realization when juxtaposed with last week's (misleading) headlines about "all-time lows." If the highest rates in nearly a month sound scary, don't freak out just yet. During that time, rates have held inside one of their narrowest ranges ever. By the time we consider how low rates are in the bigger picture there's actually never been a comparable example of "this low for this long." The lift-off hasn't proven to be too alarming just yet either. Many lenders are still quoting the same note rates today versus their recent

October 21, 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 21, 2020 Mortgage Rates Moving Higher Tue, Oct 20, 2020 4:41PM It began last week. It was subtle--so subtle as to pass largely unnoticed. But the gentle drift toward slightly higher rates has taken bigger steps so far this week. As of this afternoon, the average lender is quoting the highest rates since late September! That's quite a realization when juxtaposed with last week's (misleading) headlines about "all-time lows." If the highest rates in nearly a month sound scary, don't freak out just yet. During that time, rates have held inside one of their narrowest ranges ever. By the time we consider how low rates are in the bigger picture there's actually ... (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 99.70 +0.11   95.05 100.47 UMBS 30YR 5.5 101.15 +0.11   97.47 101.61 10 YR Treasury 4.070 -0.011   3.706 4.780 MBS Live Recap: Bonds Find Footing Early, But Aren't Able to Go Green Wed, Oct 21, 2020 4:25PM Bonds Find Footing Early, But Aren't Able to Go Green It's safe to say the bond market found its footing today, but that is only a reference to TODAY (not necessarily "finding footing" in the bigger picture). In terms of 10yr yields, overnight highs gave way to slightly lower highs in the morning and another small im... (read more) MBS Price Change UMBS 4.5 97.71 +0.08 UMBS 5.0 99.69 +0.11 UMBS 5.5 101.14 +0.11 GNMA 4.5 98.10 +0.08 GNMA 5.0 99.99 +0.17 GNMA 5.5 101.01 +0.12 Pricing as of: 9/18 1:12AM EST US Treasury Yield Change 2 YR Treasury 3.541 -0.023 5 YR Treasury 3.637 -0.019 7 YR Treasury 3.821 -0.018 10 YR Treasury 4.070 -0.011 30 YR Treasury 4.668 -0.020 Pricing as of: 9/18 1:12AM EST Other News Fannie Asks Mortgage Execs How to Improve Condo Lending Wed, Oct 21, 2020 11:04AM The most recent Fannie Mae's Lender Sentiment Survey focuses on the complexities of lending to the condominium market. The company stresses that this type of housing can play an important role in narrowing the supply gap for affordable housing options as well as providing an attractive alternative for homeowners seeking to downsize. However, since the great ... (read more) Mortgage Apps Steady; Forbearances Drop Under 6% Wed, Oct 21, 2020 10:53AM The Mortgage Bankers Association (MBA) says there was little change in mortgage application activity during the week ended October 16. MBA's Market Composite Index, a measure of mortgage loan application volume, dipped 0.6 percent from the prior week on a seasonally adjusted basis and was down 1.0 percent unadjusted. Refinancing was also flat. The Refinance ... (read more) Calabria to Seek Input on Future Fannie/Freddie Policies Tue, Oct 20, 2020 12:04PM Mark Calabria, director of the Federal Housing Finance Agency (FHFA) used the annual convention and expo of the Mortgage Bankers Association to announce changes in the agency's requirements for certain operations of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. FHFA is seeking comments on a proposed rule requiring the GSEs to provid... (read more) MLO Jobs; Shell Available; Servicing, Marketing, Automation Tools; Temporary Relief From the CFPB Wed, Oct 21, 2020 9:13AM Want some guidance? “If you get a loan at a bank, you’ll be paying it back for 30 years. If you rob a bank, you’ll be out in 10 years. Follow me for more financial advice!” Plenty of MLOs will need financial advice, given their continued record production months and quarters. Ask anyone who had all their retirement money in the compan... (read more) Latest Video Why Morgan Stanley's Mike Wilson says 10% market correction is the most lik... Weekly mortgage applications fall 2%, marking fourth straight week of decli... U.S. housing starts total 1.415 million in September, vs 1.457 million expe... The 9 a.m. Bond Report: October 20, 2020 Around the Web CNBC 'More work needs to be done': Pelosi, Mnuchin set more coronavirus stimulus talks as time runs short CNBC The bond market is starting to wake up with interest rates headed higher CNBC Here's the likelihood of getting a $1,200 stimulus check in the next two weeks Calculated Risk Blog AIA: "Architectural billings slowdown moderated in September" news.google.com The Federal Reserve's New Monetary Policy Strategy NAHB Eye on Housing Slower Jobs Gains in September: State-Level Analysis NPR Millions Of Homes Are At Risk Of Wildfires, But It's Rarely Disclosed news.google.com A third of US hotels could disappear twitter.com Did you know there are multiple ways to repay missed mortgage payments? Find the option best suited for you on our site. #HereTo... CNBC Treasury yields climb on renewed stimulus optimism NAR - Realtor.com Considering a Pandemic Move? These Are the Top Small Cities in 2020 Calculated Risk Blog Phoenix Real Estate in September: Sales Up 18.5% YoY, Active Inventory Down 40% YoY Calculated Risk Blog CAR on California September Housing: Sales up 21% YoY, Active Listings down 48% YoY

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