The week preceding the Independence Day holiday saw a further decline in mortgage applications for both home purchases and refinancing. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 1.8 percent on a seasonally adjusted basis during the week ended July 2 and was down 2 percent on an unadjusted basis. The Refinance Index declined 2 percent from the previous week and was 8 percent lower than the same week one year ago. The refinance share of mortgage activity decreased to 61.6 percent of total applications from 61.9 percent the previous week. The Purchase Index was 1 percent lower than the preceding week on both an adjusted and unadjusted basis. The volume was 14 percent lower than the same week one year ago. Refi

July 7, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman MLO Jobs; UW, Fee Reduction, Jumbo, Dashboard, Processing Tools; State Regulatory Shifts; Rates Waiting for Economic Rebound Sorry the commentary was a little late today. I was on the phone dealing with my car’s extended warranty. Per the personalized recording, they’ve been trying to reach me for quite some time! Returning to reality, but speaking of cars, has... (read more) Housing News Rates Down, Jobs Up, But Mortgage Applications Still Decline The week preceding the Independence Day holiday saw a further decline in mortgage applications for both home purchases and refinancing. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application vol... (read more) Housing News CoreLogic Sees Home Buyers Passing Rather than Compromising CoreLogic report for May is yet another reporting home prices are still moving higher. May's year-over-year appreciation of 15.4 percent was the highest since 2005. On a monthly basis the April to May gain was 2.3 percent. Detached properties appreci... (read more) Mortgage Rates Mortgage Rates Face Bigger Risks in The Coming Days 30 Yr. Fixed Rate 6.82% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% +0.03 0.00 15 Yr. Fixed 6.03% +0.04 0.00 30 Yr. FHA 6.35% +0.05 0.00 30 Yr. Jumbo 6.90% +0.03 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.37% +0.06 0.00 Updates Daily - Last Update: 7/11 15 Yr. Fixed Rate 6.03% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries MBS Live Recap: Traders Shrug Off Fed Minutes to Keep buying Bonds UMBS 30YR 5.5 99.33 -0.14 Price / Yield Change MBS UMBS 5.5 99.33 -0.14 UMBS 6.0 101.23 -0.03 GNMA 5.5 99.66 -0.18 GNMA 6.0 101.31 -0.07 Pricing as of: 7/13 9:15AM EST 10 Year US Treasury 4.4083 +0.0615 Price / Yield Change US Treasury 2 YR Treasury 3.901 +0.024 5 YR Treasury 3.971 +0.036 7 YR Treasury 4.179 +0.053 10 YR Treasury 4.408 +0.062 30 YR Treasury 4.955 +0.085 Pricing as of: 7/13 9:15AM EST Latest Video Fed wants to buy time, not act too soon, says Cresset Capital's Jack Ablin Fed minutes: Members discusses process and pace of tapering stimulus measur... DIY demand set to lag pro homebuilding services, says JPMorgan analyst Fed tapering likely to start between November and January: Investor Around the Web Federal Reserve Minutes of the Federal Open Market Committee, June 15-16,2021 Calculated Risk Blog FOMC Minutes: "Inflation Risks tilted to upside", Begin reducing asset purchases "somewhat earlier" CNBC Did state cuts to unemployment benefits get people back to work in June? CNBC Federal Reserve releases minutes of its June 15-16 meeting Calculated Risk Blog Las Vegas Real Estate in June: Sales up 53% YoY, Inventory down 46% YoY Reuters Flight to bonds sends yields below key level; stocks mixed Calculated Risk Blog BLS: Job Openings "Little Changed" at 9.2 Million in May Fannie Mae Consumers Increasingly Adamant That It's a Good Time to Sell, Bad Time to Buy a Home CNBC 10-year Treasury yield dips ahead of Fed meeting minutes Calculated Risk Blog Denver Real Estate in June: Sales Down 1% YoY, Active Inventory Down 51% YoY Calculated Risk Blog Seven High Frequency Indicators for the Economy Calculated Risk Blog ISM Services Index Decreased to 60.1% in June CNBC Oil prices could 'very easily' top $100 a barrel, says former U.S. energy secretary

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