Mortgage rates were off to a very bad start this morning, but recovered a portion of what they lost by the end of the day. The specifics depend greatly on the lender in question. Sadly, few if any lenders are still able to offer the rates seen yesterday. To make matters worse, yesterday's rates were already significantly higher than those seen just one week prior. But how about a big silver lining? One week prior to yesterday, the average lender was offering all-time low mortgage rates. So being "significantly higher" than that still hasn't been enough to move the average top tier conventional 30yr fixed quote up to 3%. Before covid, 3.125% was the lowest ever 30yr fixed rate! If you're in the purchase market, 2.75% is still common (2.875% for refis). Lenders continue to be widely stratified

January 13, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 13, 2021 Mortgage Rates Find Some Support After an Ugly Start Tue, Jan 12, 2021 4:22PM Mortgage rates were off to a very bad start this morning, but recovered a portion of what they lost by the end of the day. The specifics depend greatly on the lender in question. Sadly, few if any lenders are still able to offer the rates seen yesterday. To make matters worse, yesterday's rates were already significantly higher than those seen just one week prior. But how about a big silver lining? One week prior to yesterday, the average lender was offering all-time low mortgage rates. So being "significantly higher" than that still hasn't been enough to move the average top tier conventional... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.10 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Recap: Important Victory For Bonds, and Another Battle Ahead Wed, Jan 13, 2021 4:25PM Important Victory For Bonds, and Another Battle Ahead Rates rallied today.  Despite a positive reaction to a strong 30yr bond auction, it looks like traders made their minds up to be buyers well before that.  The rally greatly improves the odds that 10yr yields are finding a supportive ceiling in the 1... (read more) MBS Price Change UMBS 5.0 99.50 +0.06 UMBS 5.5 101.10 +0.03 UMBS 6.0 102.41 +0.03 GNMA 5.0 99.78 +0.05 GNMA 5.5 101.05 +0.01 GNMA 6.0 102.05 +0.07 Pricing as of: 9/10 6:00AM EST US Treasury Yield Change 2 YR Treasury 3.541 -0.027 5 YR Treasury 3.603 -0.024 7 YR Treasury 3.805 -0.028 10 YR Treasury 4.081 -0.002 30 YR Treasury 4.734 -0.001 Pricing as of: 9/10 6:00AM EST Other News Although Gradually Improving, Delinquencies Remain Elevated Tue, Jan 12, 2021 10:42AM 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 more days past due, including those in foreclosure, represented 6.1 percent of all active mortgages compared ... (read more) Tentative Recovery in Mortgage Availability With Help From Government and Jumbo Loans Tue, Jan 12, 2021 4:41PM While it did dip a bit last month, the availability of mortgage credit appears to be stabilizing , having moved only slightly over the last three months. The Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) was down 0.1 percent in December, to a reading of 122.1. A decline in the MCAI indicates that lending standards are tight... (read more) Still Cheaper to Own than Rent in Majority of U.S. Counties Fri, Jan 8, 2021 1:23PM 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 a comparable home and found owning more affordable 572 or 63 percent of them. The company says this has happen... (read more) Retail, Recruiting Jobs; Servicing, Appraisal, Income Calculation Tools; Upcoming Virtual Training; MSA FAQs Wed, Jan 13, 2021 11:17AM There are plenty of MLOs (mortgage loan originators) out there very pleased with their earnings for 2020. In a non-random sample, several CEOs with whom I spoke had retail LOs earn more than a million clams, all in a compliant manner. It is good to remember that some of the changes made as a result of the “Financial Crisis” were in the area of LO... (read more) Latest Video Investors are focused on whether there will be more tax cuts, stimulus pack... Trump: I urge no violence, no lawbreaking, no vandalism Fed's first Beige Book of 2021: Economic activity increased modestly Fed's Brainard: Economy is far away from our goals Around the Web CNBC The unemployment rate is above 20% for the lowest-paid workers, Fed's Brainard says CNBC Biden to unveil new Covid stimulus plan, hopes for bipartisan support Calculated Risk Blog Houston Real Estate in December: Sales Up 27% YoY, Inventory Down 29% YoY Calculated Risk Blog Cleveland Fed: Key Measures Show Inflation Soft in December NAHB Eye on Housing Consumer Prices Increase in December CNBC Lagarde stands by growth forecasts despite new lockdowns hitting Europe CNBC Treasury yields slip following strong 10-year note auction twitter.com Despite historically low mortgage rates, consumers' homebuying and home-selling sentiment fell in December 2020. 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

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