Mortgage rates had another solid day today--this time without any of the early drama seen yesterday. If you're just getting caught up, the bond market (which drives day-to-day interest rate movement) has been selling off aggressively since the Jan 5th Georgia senate election. When bonds sell-off, it means bond PRICES are getting lower and bond YIELDS (aka RATES) are getting higher. The GA election sparked the move because it gave democrats total control of the government, thus making it easier to pass legislation--especially as it concerns some sort of upgrade to the most recent round of covid-relief stimulus. Covid-relief stimulus may do great things for people in the short term and for the economy in the longer term, but it does bad things for interest rates (assuming you like low rates,

January 19, 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 19, 2021 Mortgage Rates Continue Healing, But Remain Well Above Recent Lows Wed, Jan 13, 2021 4:32PM Mortgage rates had another solid day today--this time without any of the early drama seen yesterday. If you're just getting caught up, the bond market (which drives day-to-day interest rate movement) has been selling off aggressively since the Jan 5th Georgia senate election. When bonds sell-off, it means bond PRICES are getting lower and bond YIELDS (aka RATES) are getting higher. The GA election sparked the move because it gave democrats total control of the government, thus making it easier to pass legislation--especially as it concerns some sort of upgrade to the most recent round of covid... (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 5.5 101.07 +0.00   97.47 101.61 UMBS 30YR 6.0 102.38 0.00   99.66 102.50 10 YR Treasury 4.087 +0.003   3.621 4.780 MBS Live Recap: Uneventful Start This Week; Next Move Remains Debatable Tue, Jan 19, 2021 3:51PM Uneventful Start This Week; Next Move Remains Debatable Bonds began the day in weaker territory but rallied back to nearly unchanged levels after several comments from inbound Treasury Secretary Janet Yellen.  Of particular note were Yellen's comments on the possibility of repealing certain tax cuts as well as t... (read more) MBS Price Change UMBS 5.0 99.46 +0.02 UMBS 5.5 101.07 +0.00 UMBS 6.0 102.38 0.00 GNMA 5.0 99.74 +0.01 GNMA 5.5 101.03 -0.02 GNMA 6.0 102.02 +0.05 Pricing as of: 9/10 2:31AM EST US Treasury Yield Change 2 YR Treasury 3.551 -0.017 5 YR Treasury 3.614 -0.014 7 YR Treasury 3.813 -0.019 10 YR Treasury 4.087 +0.003 30 YR Treasury 4.733 -0.002 Pricing as of: 9/10 2:31AM EST Other News Freddie Mac First Quarter Projections: Steady as They Go Fri, Jan 15, 2021 10:19AM Freddie Mac's first quarter 2021 economic forecast is unusually short, and, unlike recent forecasts from either of the GSEs, has relatively few revisions. The company's economists say that nearly a year after the first cases of COVID-19 were diagnosed in the U.S., economic growth remains uncertain, with answers largely hinging on the roll-out of the new vacc... (read more) Improvements in Forbearance Continue to Slow Fri, Jan 15, 2021 10:34AM A decline in the number of forborne loans in those portfolios serviced for banks and private label securities (PLS) accounted for most of the modest downturn in overall numbers last week. Black Knight said the number of active plans dropped by 9,000 loans or 0.3 percent compared to the previous week. The the total of active plans is only 1.5 percent below wh... (read more) Post-2008 Standardized Practices Have Helped Manage Forbearances Fri, Jan 15, 2021 10:17AM Fannie Mae said that the standardization of servicing standards that followed the 2008 housing crisis appears to have helped the industry manage the recent flood of COVID-19 forbearance plans. The company included a series of questions about forbearance management in its September Lender Sentiment Survey and has now released a special report on the responses... (read more) IT, AE Jobs; Jumbo, Origination, Productivity Tools; Thoughts on the CFPB Nominee; Training and Events Tue, Jan 19, 2021 11:03AM Sometimes running a mortgage compliance department can seem like this short clip Indiana’s Carol K. sent along. Yet there is value in compliance, and it is good that lenders and servicers are much more cognizant of rules and regulations than we were 12-14 years ago, along with requiring that borrowers have the ability to repay a loan. President-elect J... (read more) Latest Video Treasury nominee Yellen says U.S. can afford a higher corporate tax rate if... Rates could go up quite a bit more: Equity strategist Mike Wilson The Bond Report - 9am - 01/19/21 What Biden Treasury Secretary nominee Janet Yellen plans to tell Congress Around the Web CNBC Five key takeaways from Janet Yellen's Treasury confirmation hearing Calculated Risk Blog Update Then and Now: With Column Excluding Pandemic Calculated Risk Blog Lawler: Early Read on Existing Home Sales in December news.google.com Treasury nominee Yellen says U.S. can afford higher corporate tax rate if it coordinates with other countries - CNBC NPR Yellen Urges Congress To 'Act Big' To Prop Up Pandemic-Scarred Economy Calculated Risk Blog Then and Now CNBC The average FICO score is 711. Here's what the number means and how you can get a higher rating CNBC Watch Janet Yellen speak live during her confirmation hearing as Treasury Secretary NAHB Eye on Housing Continued Gains for November Single-Family Permits Calculated Risk Blog A Positive Note from Merrill: "A light at the end of the COVID cave" CNBC Treasury yields rise ahead of Yellen's Senate speech NAHB Eye on Housing Led by Lumber, Building Materials Prices Climb 5.4% in 2020 NAHB Eye on Housing Operation Costs per Dollar Value Lower for New Homes

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