After a strong showing during the week ended July 9, mortgage application volume pulled back. The Mortgage Bankers Association's (MBA) Market Composite Index, a measure of that volume, decreased 4.0 percent on a seasonally adjusted basis during the week ended July 16 although it was 20 percent higher than the prior week before adjustment. The Refinance Index decreased 3 percent from the previous week and was 18 percent lower than the same week one year ago, but the refinancing share of total applications grew to 64.9 percent of total applications from 64.1 percent the previous week. The seasonally adjusted Purchase Index decreased 6 percent but was 17 percent higher on an unadjusted basis from the previous week and 18 percent lower than the same week in 2020. Refi Index vs 30yr Fixed Purchase

July 21, 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 Jul 21, 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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Price Change UMBS 5.0 99.54 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.43 -0.11 GNMA 5.0 99.86 -0.21 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.07 -0.11 Pricing as of: 9/9 12:13PM EST US Treasury Yield Change 2 YR Treasury 3.542 +0.054 5 YR Treasury 3.610 +0.048 7 YR Treasury 3.816 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.737 +0.046 Pricing as of: 9/9 12:13PM EST Other News Purchase Mortgage Volume Continues to Weaken Wed, Jul 21, 2021 10:02AM After a strong showing during the week ended July 9, mortgage application volume pulled back. The Mortgage Bankers Association's (MBA) Market Composite Index, a measure of that volume, decreased 4.0 percent on a seasonally adjusted basis during the week ended July 16 although it was 20 percent higher than the prior week before adjustment. The Refinance Index... (read more) MBA Sees New Home Sales at 13 Month Low Tue, Jul 20, 2021 3:29PM The Mortgage Bankers Association is projecting a sizeable decline in new home sales occurred last month as applications for their purchase declined 3 percent month-over-month and were 23.8 percent lower than in June 2020. The change does not include any seasonal adjustment. Based on the application data, gathered from its Builder Application Survey (BAS) and... (read more) MLO Jobs, Lenders Wanted; U/W Training, Jumbo Products; Customer Service; Upcoming Virtual Events Wed, Jul 21, 2021 11:42AM Experienced mortgage loan originators (MLOs) know that a rate lock is a rate lock. The removal of the adverse market fee of .5 for conventional conforming refis above $125,000 has caused conversations about pricing, borrower, and profit strategy. One veteran MLO wrote to me and stated, “If the price had worsened, we wouldn’t be going back to borr... (read more) Latest Video Debt limit likely to be hit in October or November unless raised, says CBO Markets are heading for an unavoidable risk-off episode, Knapp says Did the markets overreact to the delta variant? The 9am Bond Report - July 21, 2021 Around the Web CNBC What you need to know about applying for rental assistance as national eviction ban comes to an end Reuters Partisan fight flares in U.S. Congress over raising debt ceiling Calculated Risk Blog CoreLogic: Single-Family Rents Up 6.6% Year Over Year in May Zillow The Great Reshuffling Is Changing How Far Americans Are Willing to Commute Reuters What, me worry? Fed chief's emotional tone can drive markets, study suggests CNBC ECB set to tweak guidance to reflect its new 2% inflation target Calculated Risk Blog AIA: "Architecture Billings Index robust growth continues" in June Redfin Homebuyers Are Turning Back to Condos After Pandemic-Driven Slump Reuters Work-in-progress U.S. infrastructure bill faces test on Senate floor Calculated Risk Blog Comments on June Housing Starts Black Knight Black Knight Announces Underwriter Assist Digital Solution, Leverages Machine-Learning Tools From AWS Calculated Risk Blog Housing Starts increased to 1.643 Million Annual Rate in June CNBC U.S. Treasury yields climb, 10-year yield rises to 1.21%

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