Mortgage rates went to bed last night knowing they were at risk of a volatile day today. Georgia's senate race has been in focus for 2 months now because it had the chance to change the balance of power in congress. With both seats flipping from red to blue, that's exactly what happened today. While the election results have only been confirmed for about an hour, the bond market (which underlies interest rate movement) was already bracing for impact in the middle of the night. Specifically, bond yields (aka "rates") were already quite a bit higher by the time the election was finalized this afternoon. When the bond market deteriorates (aka, moves lower in price and higher in yield), mortgage rates are typically rising at a similar pace. Does the mortgage market r eally care that much about

January 7, 2021 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Rates Rising Quickly, But The Truly Scary Stuff is For Another Day And Another Reason Mortgage rates went to bed last night knowing they were at risk of a volatile day today. Georgia's senate race has been in focus for 2 months now because it had the chance to change the balance of power in congress. With both seats flipping from red ... (read more) Housing News Mortgage Application Volume Fell Sharply at the End of 2020 The Mortgage Bankers Association (MBA) resumed reporting on mortgage applications today after a two-week holiday hiatus. Information on mortgage volume during the week ended December 31 is reported relative to the previous report covering the week en... (read more) MBS Commentary MBS Live Day Ahead: Looking For Support After Yesterday's Breakout (Not Finding It Yet) 10yr yields were at the bottom edge of a months-long uptrend heading into the Georgia senate election.  One result would have helped them break out to lower yields while the other all but guaranteed a break up and over 1.0%.  We got "the ot... (read more) Housing News Affordability Issues Expected to Dampen Home Price Gains Home prices rose another 1.1 percent in November according to the CoreLogic report on its Home Price Index. The year-over-year gain was 8.2 percent , accelerating from the annual increase of 7.3 percent posted for October. The company said that home ... (read more) Rob Chrisman Compliance, MLO, AE, Ops Jobs; Appraisal, Profitability Tools; Upcoming Events; Rates Creep Higher: Why? Some will say that the world’s most anticipated palindrome is “1-20-21”. Others will say that Inauguration Day spells the end of personal freedom in the United States. In our business, lenders everywhere have their eyes on the horiz... (read more) Housing News Five Questions for the New Year While COVID-19 has wreaked havoc on most of the economy last year, Wells Fargo's Securities Economic Group says many of the responses to the pandemic - lockdowns, remote schooling, and remote work - served to "flip the script" on housing, increasing ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% 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 5.5 100.05 -0.02 Price / Yield Change MBS UMBS 5.5 100.04 -0.03 UMBS 6.0 101.69 +0.01 GNMA 5.5 100.11 -0.08 GNMA 6.0 101.51 +0.02 Pricing as of: 7/1 3:25AM EST 10 Year US Treasury 4.2104 -0.0142 Price / Yield Change US Treasury 2 YR Treasury 3.720 +0.005 5 YR Treasury 3.787 -0.017 7 YR Treasury 3.977 -0.013 10 YR Treasury 4.213 -0.011 30 YR Treasury 4.759 -0.017 Pricing as of: 7/1 3:25AM EST Latest Video Most important economic development this week was Dems taking Senate: Furma... The Bond Report - 9am - January 07, 2021 Easing America's growing housing crisis Fed: Economic activity remains well below levels at start of year Around the Web Calculated Risk Blog Goldman December Payrolls Preview CNBC Buyers and sellers are substantially more pessimistic about the housing market, as Covid cases surge again Calculated Risk Blog Hotels: Occupancy Rate Declined 17.2% Year-over-year Calculated Risk Blog December Employment Preview NAR - Realtor.com Federal Regulators Want To Overhaul Home AppraisalsHere's How That Could Hurt Both Buyers and Sellers CNBC Sharp decline of unemployment claims for self-employed and gig workers isn't real, experts say Calculated Risk Blog ISM Services Index Increased to 57.2% in December Calculated Risk Blog Trade Deficit Increased to $68.1 Billion in November news.google.com Crisis Over? All of a Sudden, the Global Economy Is Looking Better CNBC U.S. weekly jobless claims total 787,000, vs 815,000 estimate CNBC 10-year Treasury yield above 1% following projected Democrat Senate win news.google.com The average FICO Score reached a record high of 710 in 2020"here's the average credit score in every state Calculated Risk Blog FOMC Minutes: "Uncertainty surrounding the economic outlook"

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