It's no secret that 2021 has been a rough year for mortgage rates so far. They've moved higher on all but a few weeks, and exclusively higher if we only count the past 8 weeks (something that hasn't happened in more than a decade , even though there are a few instances of bigger moves overall). In fact, it was that record-tying streak of "bad weeks" that served as the foundation for hope heading into the current week (as discussed here on Monday). In other words, rates have had such a bad run that they were increasingly due to catch a break. Granted, we still have another day to get through, but as of today, this week is very much on track to break the cycle. Yes, rates are LOWER --not just today, but versus the end of last week as well. That's an assertion that runs counter to most media coverage

March 25, 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 Mar 25, 2021 Mortgage Rates Are Actually LOWER This Week Thu, Mar 25, 2021 2:52PM It's no secret that 2021 has been a rough year for mortgage rates so far. They've moved higher on all but a few weeks, and exclusively higher if we only count the past 8 weeks (something that hasn't happened in more than a decade , even though there are a few instances of bigger moves overall). In fact, it was that record-tying streak of "bad weeks" that served as the foundation for hope heading into the current week (as discussed here on Monday). In other words, rates have had such a bad run that they were increasingly due to catch a break. Granted, we still have another day to get through, b... (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 5.5 101.14 -0.14   97.47 101.61 UMBS 30YR 6.0 102.41 -0.13   99.66 102.50 10 YR Treasury 4.073 +0.034   3.621 4.780 MBS Live Recap: Thursday Curse Continues But It Was Still a Good Day for Bonds Thu, Mar 25, 2021 3:37PM Thursday Curse Continues But It Was Still a Good Day for Bonds Although bonds won't be able to say they broke 2021's perfect record of selling on Thursdays (based on the 3pm CME close... there's a bit of time left before the 5pm close), it was a decent day nonetheless.  In fact, it could have been much worse ... (read more) MBS Price Change UMBS 5.0 99.50 -0.27 UMBS 5.5 101.11 -0.17 UMBS 6.0 102.36 -0.18 GNMA 5.0 99.84 -0.23 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.08 -0.10 Pricing as of: 9/9 4:51PM EST US Treasury Yield Change 2 YR Treasury 3.550 +0.063 5 YR Treasury 3.609 +0.047 7 YR Treasury 3.809 +0.041 10 YR Treasury 4.082 +0.043 30 YR Treasury 4.724 +0.034 Pricing as of: 9/9 4:51PM EST Other News Mortgage Profits Decline but Remain Close to Record Levels Wed, Mar 24, 2021 8:50AM Mortgage originators' profits remained strong in the fourth quarter of 2020, although they were down considerably from the previous period. The Mortgage Bankers Association's (MBA's) Mortgage Bankers Performance Report says that independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they orig... (read more) February New Home Sales Decline Sharply Tue, Mar 23, 2021 11:01AM The two-month rally in new home sales ended abruptly and definitively in February. The U.S. Census Bureau and Department of Housing and Urban Development said sales of newly constructed single-family homes dropped by 18.2 percent to a seasonally adjusted annual rate of 775,000 units but remained 8.2 percent higher than sales in February 2020. The January est... (read more) Purchase Application Volume up for Fourth Consecutive Week Wed, Mar 24, 2021 8:36AM Mortgage application volume declined for the third consecutive time during the week ended March 19 as refinancing continued to retreat. The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey revealed a 2.5 percent decrease in the seasonally adjusted Market Composite Index , a measure of mortgage loan application volume. The Index was do... (read more) MLO, Branch, Ops Jobs; Sales, POS, Warehouse Products; STRATMOR Ops Paper; Ginnie, FHA, VA, USDA Updates Thu, Mar 25, 2021 10:16AM After spending millions of dollars studying the issue, a blue-ribbon panel found that statistics show that teen pregnancy drops dramatically after age 20 . (Need a minute to think about that?) Want some more numbers, and want to know why there are fewer home listings than there are Realtors? How about Lennar announcing a $4 billion venture with the formation... (read more) Latest Video The 9am Bond Report - March, 25 2021 Weekly jobless claims fall to lowest level in more than a year Former Dallas Fed President Richard Fischer on investor impact of rates Powell: Fed takes 2% inflation target very seriously Around the Web Reuters Fed officials press promise of complete recovery before 'punch bowl' disappears CNBC Senate extends pandemic assistance for small businesses for 2 months Calculated Risk Blog Hotels: Occupancy Rate Highest in a Year; Down 15% Compared to Same Week in 2019 Reuters Exclusive: U.S. Democratic lawmakers will introduce resolution to undo OCC's true lender rule Reuters Exclusive: Fed's Barkin says watch the data, rate hikes no article of faith Calculated Risk Blog AIA: "Architecture billings climb into positive territory after a year of monthly declines" in February Calculated Risk Blog Q4 GDP Growth Revised up to 4.3% Annual Rate; PCE Growth Revised Down to 2.3% CNBC U.S. weekly jobless claims total 684,000, vs 735,000 estimate CNBC Powell praises economic recovery and sees Fed pulling back help after 'substantial' progress CNBC Treasury yields climb after Powell forecasts 'strong' economic growth CNBC Yellen supports banks' share buybacks. Sen. Warren wants BlackRock designated too big to fail Reuters Biden taps affordable housing group's chief for deputy housing secretary Reuters S&P 500, Dow rise as Powell, Yellen signal confidence in recovery

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