The share of mortgages originated for home purchases hit its highest level since February of 2020 in May. ICE Mortgage Technology's Origination Insight Report for the month put the share at 47 percent, four points higher than in April. The conventional share of originations dipped from 81 percent in April to 79 percent with FHA and VA loans each ticking up 1 percentage point to 11 percent and 7 percent, respectively. The 30-year fixed interest rate averaged 3.27 percent for loans closed during the month, up from 3.22 percent in April and 39 basis points higher than in January of this year. Adjustable-rate mortgages (ARMs) averaged 3.6 percent, surpassing the fixed rate for the first time since last June. The time to close all loans rose slightly, from 51 to 53 days. Refinance loans took two

July 13, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jul 13, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 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 99.48 -0.10   95.05 100.47 UMBS 30YR 5.5 101.05 +0.02   97.47 101.61 10 YR Treasury 4.113 +0.032   3.706 4.780 MBS Price Change UMBS 4.5 97.43 -0.20 UMBS 5.0 99.48 -0.10 UMBS 5.5 101.05 +0.02 GNMA 4.5 97.50 -0.52 GNMA 5.0 99.74 -0.08 GNMA 5.5 100.90 +0.01 Pricing as of: 9/18 1:22PM EST US Treasury Yield Change 2 YR Treasury 3.572 +0.008 5 YR Treasury 3.672 +0.016 7 YR Treasury 3.863 +0.024 10 YR Treasury 4.113 +0.032 30 YR Treasury 4.727 +0.039 Pricing as of: 9/18 1:22PM EST Other News May's Purchase Share Hit 15-Month High Tue, Jul 13, 2021 11:48AM The share of mortgages originated for home purchases hit its highest level since February of 2020 in May. ICE Mortgage Technology's Origination Insight Report for the month put the share at 47 percent, four points higher than in April. The conventional share of originations dipped from 81 percent in April to 79 percent with FHA and VA loans each ticking up 1... (read more) Forbearances See Largest Improvement to Date Mon, Jul 12, 2021 11:41AM There was, as expected, a huge improvement in the number of forbearance plans during the week ended July 6. Black Knight reports that the number of homeowners in plans dropped by 189,000. This brought the total to 1.86 million, 3.5 percent of all active mortgages. This is the first time the total has dropped below 2 million since April 2020. The decline came... (read more) Ops Director Job; Capital Markets, Underwriting, Processing, Non-QM, Mobile Products; Better's Overseas Acquisition Tue, Jul 13, 2021 11:19AM When one thinks of a Constitutional Amendment, many think of the 2nd amendment (right to bear arms, 1789), 13th (end of slavery, 1865), or the 16th (creation nationwide income taxes, 1913). Remember the process from junior high? “…two-thirds majority vote in both the House of Representatives and the Senate or by a constitutional convention, rati... (read more) Latest Video The 2pm Bond Report - July 13, 2021 San Francisco Fed President Daly on investors' inflation concerns The 9am Bond Report - July 13, 2021 June's Consumer Price Index comes in at 0.9% vs. 0.5% estimate Around the Web Calculated Risk Blog Minnesota Real Estate in June: Sales Up 13% YoY, Inventory Down 41% YoY Calculated Risk Blog Colorado Real Estate in June: Sales Up 9% YoY, Inventory Down 59% YoY CNBC Fed's Mary Daly says tapering of bond purchases may start this year NY Fed New York Fed purchases $5.999 billion in Treasurycoupons Reuters U.S. Treasury's Yellen says carbon pricing can work, with caveats CNBC Consumer price index increases 5.4% in June vs. 5% estimate Reuters Yellen says prepared to launch Treasury debt limit measures Calculated Risk Blog Boston Real Estate in June: Sales Up 77% YoY, Inventory Down 19% YoY Calculated Risk Blog Housing Inventory July 12th Update: Inventory Unchanged Week-over-week, Up 22% from Low in early April Calculated Risk Blog Seven High Frequency Indicators for the Economy Reuters Yellen urges EU to back global tax deal, keep fiscal support CNBC Treasury yields start the week lower, 10-year Treasury around 1.34% Reuters Marketmind: Real world data bites

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