Mortgage application volume rose for the first time since mid-April last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 2.1 percent on a seasonally adjusted basis during the week ended May 7 and was 2.0 percent higher on an unadjusted basis. The Refinance Index gained 3 percent from the previous week but was down 12 percent from its level during the same week one year ago. The refinance share of mortgage activity increased to 61.3 percent of total applications from 61.0 percent the previous week. Both the seasonally adjusted and the unadjusted Purchase Indices grew by 1 percent from the prior week. The unadjusted Purchase Index was 13 percent higher than the same week in 2020. Refi Index vs 30yr Fixed Purchase Index vs 30yr

May 12, 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 May 12, 2021 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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.05 -0.14 GNMA 6.0 102.01 -0.17 Pricing as of: 9/9 5:47PM EST US Treasury Yield Change 2 YR Treasury 3.555 +0.068 5 YR Treasury 3.614 +0.052 7 YR Treasury 3.813 +0.045 10 YR Treasury 4.085 +0.045 30 YR Treasury 4.728 +0.038 Pricing as of: 9/9 5:47PM EST Other News Mortgage Application Volume Revs Up For The First Time Since April Wed, May 12, 2021 10:35AM Mortgage application volume rose for the first time since mid-April last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 2.1 percent on a seasonally adjusted basis during the week ended May 7 and was 2.0 percent higher on an unadjusted basis. The Refinance Index gained 3 percent from the previ... (read more) Even "Off-Radar" Metros Saw Huge Q1 Price Gains Wed, May 12, 2021 8:07AM Metro area home prices rose sharply in the first quarter of 2021 and virtually every part of the country was impacted. The National Association of Realtors® (NAR) said that 99 percent of the 183 areas it tracks posted annual price gains, and for 89 percent (163 areas) those increases were in the double digits. For comparison, in the first quarter of 2020... (read more) MLO, AE Jobs; Lead Gen, Turn Time, Jumbo Products; Guild/RMS Deal Wed, May 12, 2021 10:41AM Is Better.com worth $7.7 billion , as indicated by the SPAC deal announced yesterday? I guess things are worth the price at which a willing buyer and seller transact. For comparison, the book value of Rocket is $34 billion, UWM $10.9 billion, Guild Mortgage $876 million. I mention Guild because of its acquisition news from yesterday, noted below. And I menti... (read more) Latest Video Why the market is reacting to inflation data Federal deficit hits $1.9T, another record high, in 2021 Fed's Clarida: 'Surprised' by higher-than-expected CPI report The 9am Bond Report - May 12, 2021 Around the Web Reuters Republicans tell Biden tax hikes are a 'red line' in recovery plan Calculated Risk Blog Colorado Real Estate in April: Sales Up 41% YoY, Inventory Down 66% YoY Calculated Risk Blog Houston Real Estate in April: Sales Up 58% YoY, Inventory Down 43% YoY CNBC Investors are worried about inflation data, but economists see it as a sign of temporary growth Calculated Risk Blog NY Fed Q1 Report: Total Household Debt Increased in Q1 2021, Mortgage Origination Credit Scores Edged Up NY Fed New York Fed purchases $1.735 billion in Treasurycoupons Reuters Inflation fears spook US stocks, Treasury yields jump Calculated Risk Blog South Carolina Real Estate in April: Sales Up 41% YoY, Inventory Down 56% YoY Federal Reserve Brainard, Patience and Progress as the Economy Reopens andRecovers Calculated Risk Blog BLS: CPI increased 0.8% in April, Core CPI increased 0.9% Reuters Jobs, inflation data surprises not changing Fed plans, Clarida says Reuters Inflation woes push U.S. stocks to 1-month low, USD struggle Reuters Pandemic's labor reshuffle likely just starting for U.S. workers

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