Mortgage rates are coming off a rough week-- the roughest , in fact, since June 2020 by some measures. That's the last time rates rose this quickly for market-driven reasons. There were a few instances of bigger moves in Aug/Sept as the new refinance fee was announced, delayed, and ultimately implemented. Either way, things aren't great right now, relatively speaking. The "relative" qualification is important considering this abrupt move higher has yet to threaten to take the average top tier 30yr fixed quote above 3%--far from it, in fact. Most lenders can still offer 2.875% or better on refis and 2.625% or better on purchases. This assumes an ideal scenario with 20%+ equity, strong credit, etc. If this drama were to conclude right now, it wouldn't be that big of a deal in the bigger picture

January 12, 2021 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Rates Rising at Fastest Pace in Months Mortgage rates are coming off a rough week-- the roughest , in fact, since June 2020 by some measures. That's the last time rates rose this quickly for market-driven reasons. There were a few instances of bigger moves in Aug/Sept as the new refinance... (read more) Housing News Still Cheaper to Own than Rent in Majority of U.S. Counties In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions' 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for ... (read more) Housing News Black Knight Notes Slowdown in Forbearance Improvement A month end wave of plan expirations in December led to a substantial decline in the number of active forbearances during the first week of 2021. Black Knight says there were 92,000 fewer active plans as the week ended, a decline of 3 percent and the... (read more) Housing News Although Gradually Improving, Delinquencies Remain Elevated The rate of mortgage delinquencies remains significantly elevated from last year, but there is gradual improvement . The national rate moved higher in October on an annual basis per CoreLogic's Loan Performance Insights Report . Loans that were 30 or... (read more) Rob Chrisman Sales, MLO Jobs; Home Ownership, Non-QM, PPE, Sales Tools; Conventional Conforming Updates Nearly two weeks into 2021 already? I was just getting used to saying “2020.” Now I have to add a syllable every time. “One.” There’s continued talk of companies like Finance of America , loanDepot , SoFi , and Homepoint... (read more) MBS Commentary MBS Live Recap: Much-Anticipated Correction Finally Arrives. Now What? Much-Anticipated Correction Finally Arrives. Now What? This morning's alert noted a scary scenario playing out in bonds due to a confluence of big picture negative motivations (power shift in D.C.,... (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 99.92 +0.08 Price / Yield Change MBS UMBS 5.5 99.93 +0.08 UMBS 6.0 101.63 +0.07 GNMA 5.5 100.07 +0.10 GNMA 6.0 101.48 +0.07 Pricing as of: 7/3 4:37AM EST 10 Year US Treasury 4.2553 -0.0245 Price / Yield Change US Treasury 2 YR Treasury 3.768 -0.020 5 YR Treasury 3.844 -0.024 7 YR Treasury 4.031 -0.025 10 YR Treasury 4.256 -0.024 30 YR Treasury 4.784 -0.025 Pricing as of: 7/3 4:37AM EST Latest Video Housing could be at risk if interest rates go higher: Sri-Kumar Here's what traders are saying about the 10-year yield jumping to highest l... I've never seen investor demand higher for multifamily homes: RealtyMogul C... The Bond Report - 9am - January 12, 2021 Around the Web Calculated Risk Blog Denver Real Estate in December: Sales Up 5% YoY, Active Inventory Down 50% CNBC Fed's Esther George cautions that inflation could rise faster than expected NAR - Realtor.com Good Riddance to Open Floor Plans and Cabinets Galore: Top Kitchen Trends of 2021 CNBC Hospitality industry sees drop in job openings and surge in separations as shutdowns take hold NAHB Eye on Housing Open Job Rate in Construction Steady NAHB Eye on Housing Credit Card Debt Continues to Decrease in November Calculated Risk Blog BLS: Job Openings "Little Changed" at 6.5 Million in November CNBC Hiring for these jobs is on the rise in 2021, according to LinkedIn Calculated Risk Blog Small Business Optimism Decreased in December Reuters Fed's Rosengren says U.S. economy could see robust recovery in second half of 2021 Reuters Fed's George: "too soon to speculate about the timing of any change" Reuters Fed's Mester says it's 'premature' to change monetary policy stance Calculated Risk Blog Tuesday: Job Openings

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