Slow Start to a Potentially Slow Week. Bonds did a good enough job of holding their ground today thus leaving at least half of last week's gains intact.  The past 2 trading days mean Treasuries are shying away from a more aggressive move toward lower yields and instead continue to favor a sideways consolidation.  Things can always change, of course, but there's limited inspiration on the calendar in the coming days with Thursday's ECB announcement being the first thing that really jumps out.  Equities may be interested in a corporate earnings calendar that continues ramping up, but stock/bond correlation has been hit and miss for months. Econ Data / Events Fed MBS Buying  10am, 1130am, 1pm Housing Starts 1.739m vs 1.613m f'cast Building Permits 1.766m vs 1.75m f'cast Market Movement Recap 08:14 AM Bonds started out slightly stronger in Asia but lost ground a few hours into the European session.  10yr yields are now 'unchanged' on the day at 1.59%.  2.5 UMBS are effectively unchanged as well at 103-13 (103.41). 01:21 PM A bit of weakness earlier, followed by a bounce back to unchanged levels.  10yr yields are rising modestly again now, currently up 1.3 bps to 1.603.  UMBS 2.5 coupons are still unchanged at 103-12 (103.375).   02:55 PM Treasuries remain modestly weaker, but have managed to hold a flat trajectory after a bit of weakness at 1pm.  10yr yields are up less than 1bp at 1.599%.  2.5 UMBS are up 1 tick (0.03) at 103-13 (103.41).

April 19, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Apr 19, 2021 Mortgage Rates Falling Quickly to Lowest Levels in Weeks Thu, Apr 15, 2021 4:50PM It's no secret that mortgage rates had a rough month in March and a rough year in general. The average lender raised 30yr fixed rates by roughly half a percent in February and March alone. But April has proven to be an entirely different sort of month so far. In the past 2 weeks, rates are down nearly a quarter of a point on average. Today played a critical role in the improvement as lenders responded in waves to an exceptionally strong day for the underlying bond market (bonds are the primary driver of day-to-day rate fluctuations). One of the most interesting things about today's move was th... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.59 -0.37   95.05 100.50 UMBS 30YR 5.5 101.03 -0.20   97.47 101.61 10 YR Treasury 4.081 +0.050   3.643 4.780 MBS Live Recap: Slow Start to a Potentially Slow Week. Mon, Apr 19, 2021 3:19PM Slow Start to a Potentially Slow Week. Bonds did a good enough job of holding their ground today thus leaving at least half of last week's gains intact.  The past 2 trading days mean Treasuries are shying away from a more aggressive move toward lower yields and instead continue to favor a sideways consolidation.... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.03 -0.20 GNMA 4.5 98.02 -0.14 GNMA 5.0 99.82 -0.38 GNMA 5.5 100.89 -0.32 Pricing as of: 9/17 7:02PM EST US Treasury Yield Change 2 YR Treasury 3.564 +0.060 5 YR Treasury 3.656 +0.070 7 YR Treasury 3.839 +0.068 10 YR Treasury 4.081 +0.050 30 YR Treasury 4.688 +0.036 Pricing as of: 9/17 7:02PM EST Other News Draft Housing Infrastructure and Assistance Bill Presented to FSC Mon, Apr 19, 2021 11:32AM The House Committee on Financial Services (FSC) held a virtual hearing last week on ways to provide equitable and affordable housing infrastructure. The memorandum setting out the hearing's purpose stated that, not only is affordable housing a crucial part of the nation's infrastructure and a stable asset that boosts individuals, families, and communities' a... (read more) Housing Starts Reach Highest Levels Since 2006 Fri, Apr 16, 2021 11:34AM Residential construction recovered in March after a serious decline the prior month. The U.S. Census Bureau and Department of Housing and Urban Development said all three measures rose, with housing starts hitting a 15 year high . Some regional increases topped 100 percent. Permits for residential construction were issued at a seasonally adjusted annual rate... (read more) New Home Purchase Applications Ramping up for Spring Fri, Apr 16, 2021 11:16AM True to tradition, new home sales appear to have moved higher in March as the calendar closed in on the start of the spring market. The Mortgage Bankers Association (MBA) estimates sales of newly constructed homes increased by 7 percent compared to February and are 12 percent higher than a year earlier. This change does not include any adjustment for typical... (read more) MLO Jobs; Sales, Jumbo, Purchase Products; Events and Training in the Next Few Weeks Mon, Apr 19, 2021 10:19AM As lenders are wondering who will be the next merger or acquisition announcement (news of the Sterling Bancorp and Webster Financial came out this morning), and there will be someone next, do you think your company will last forever? Someone who had a lot of time on their hands put together this map of Blockbuster stores over time . (Spoiler alert: the last ... 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