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 22, 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 22, 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 5.5 101.07 -0.21   97.47 101.61 UMBS 30YR 6.0 102.38 -0.16   99.66 102.50 10 YR Treasury 4.083 +0.044   3.621 4.780 MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 6:06PM EST US Treasury Yield Change 2 YR Treasury 3.568 +0.080 5 YR Treasury 3.627 +0.065 7 YR Treasury 3.832 +0.064 10 YR Treasury 4.083 +0.044 30 YR Treasury 4.735 +0.044 Pricing as of: 9/9 6:06PM 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, Ops Jobs; Tech, Hedging, Advertising Compliance Products; Non-Agency Updates Thu, Jul 22, 2021 11:26AM How would you like to compete against a company whose tagline is, “We Do It All, Guaranteed!”? The program is part of an existing Weichert Realtors’ offering called “All Under One Roof” that gives consumers brokerage, mortgage, insurance, and other services. Reducing the friction between taking an application and servicing the l... (read more) Latest Video Former Wells Fargo CEO: I expect 20 percent market decline in next 18 month... Existing home sales rise 1.4 percent, lower than 2.2 percent forecasts The 9am Bond Report - July 22, 2021 European Central Bank to continue bond buying program until at least March ... Around the Web Reuters Warning signs for global recovery as Delta dims outlook CNBC Dr. Scott Gottlieb says the Covid delta spike may peak in late August, sooner than many believe CNBC Several major websites go down in widespread internet outage Calculated Risk Blog NMHC: July Apartment Market Tightness Index Highest on Record Black Knight Black Knight's First Look at June 2021 Mortgage Data CNBC U.S. weekly jobless claims total 419,000 vs. 350,000 estimate Redfin Investor Home Purchases Hit Record, Surpassing Pre-Pandemic Levels CNBC European Central Bank holds interest rates but tweaks guidance CNBC Treasury yields fall slightly ahead of jobless claims data 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

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