Reasons For Both Hope and Fear In Today's Trading Bonds have been in a consistent trend leading toward higher rates in the short term and that trend falls inside a similarly consistent up-trend in the bigger picture.  On a hopeful note, today's early strength suggests the bigger-picture trend could offer a supportive bounce in the first half of the week.  On a cautionary note, not only did bonds fail to gain much ground today, the buying was largely fueled by short covering (i.e. traders booking profits after having previously bet on rising rates). Econ Data / Events Fed MBS Buying  10am, 1130am, 1pm Market Movement Recap 08:26 AM Bonds were expected moderately weaker after an orderly sell-off overnight.  Stimulus, stocks, and auction trepidation are easy to blame for the move.  10yr is up 2bps at 1.189% and 2.0 UMBS are down 2 ticks (.06) at 103. 11:07 AM Bonds bouncing back as EU bond market rallies into its close.  10yr yields almost 1bp lower now at 1.162%.  UMBS 2.0 is unchanged on the day at 103-02 (103.06). 02:52 PM US bond rally continued through the AM hours and ended as soon as the EU bond market closed.  Holding ground at just-barely-positive levels since then.  10yr down 0.9bps at 1.16% and 2.0 UMBS up 1 tick (0.03) at 103-02 (103.06).

February 8, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman CRM, Ops, MLO Jobs; Pooling, Processing, Broker, Recruiting Products; Shift in CFPB Thinking? Rates Creeping Higher A Pennsylvania man is suing Smart Water for not making him smart, and here, in this Commentary, I’d like to formally announce my lawsuit against Thin Mints. Residential lenders are not only watching the 10-year yield hit a pandemic high, but ar... (read more) MBS Commentary MBS Live Recap: Reasons For Both Hope and Fear In Today's Trading Reasons For Both Hope and Fear In Today's Trading Bonds have been in a consistent trend leading toward higher rates in the short term and that trend falls inside a similarly consistent up-trend in the bigger ... (read more) Housing News Are Low Rates Enough to Offset Rising Prices? Builders Say Yes Even with the accelerating pace of home price increases, the National Association of Home Builders (NAHB) still sees homes remaining affordable. The NAHB/Wells Fargo Housing Opportunity Index for the fourth quarter of 2020 shows that affordability re... (read more) Mortgage Rate Watch Mortgage Rates Slightly Higher Mortgage Rates were steady to slightly lower yesterday even though prevailing trends in the bond market suggested caution. Today's trading is a different story. Granted, there haven't been any huge, dramatic moves, but today's bond market weakness ad... (read more) Housing News December Home Price Gains Shot Up 9% Annually CoreLogic reports that December saw yet another acceleration in home price increases. The company's Home Price Index (HPI) rose 9.2 percent on an annual basis. The increase in November was 8.2 percent. The month-over-month change, 1.1 percent, was al... (read more) Housing News Homeownership Rising Despite Seasonal Volatility The homeownership rate fell in the fourth quarter down 1.6 percentage points from its third quarter level but remained higher than in the same quarter in 2019 . The U.S. Census Bureau said the rate, 65.8 percent, was up from 65.1 percent a year earli... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 7:14PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 7:14PM EST Latest Video Democrats unveil plan to send up to $3,600 per child to households Market optimism grows ahead of fiscal stimulus and economic recovery The Bond Report 9am - February 08, 2021 How factory-built homes could help solve the affordable housing crisis Around the Web Reuters Wall Street sets record closing highs on stimulus hopes, vaccine deployment CNBC CDC director warns Covid variants could reverse the recent drop in cases and hospitalizations Reuters U.S. COVID-19 cases and hospitalizations log biggest weekly drops since pandemic started Calculated Risk Blog Northwest Real Estate in January: Sales up 16% YoY, Inventory down 43% YoY Calculated Risk Blog Las Vegas Real Estate in January: Sales up 13% YoY, Inventory down 50% YoY Calculated Risk Blog Seven High Frequency Indicators for the Economy Calculated Risk Blog Q1 GDP Forecasts CNBC U.S. Treasury yields tick higher after Yellen's stimulus comments Calculated Risk Blog AAR: January Rail Carloads down 2.1% YoY, Intermodal Up 12.1% YoY Calculated Risk Blog Comments on January Employment Report Calculated Risk Blog Trade Deficit Decreased to $66.6 Billion in December Reuters Biden says jobs data shows need for action on coronavirus relief bill CNBC Here's where the jobs are in one chart

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