Mortgage application volume fell sharply last week, the second decline of more than 6 percent in the past three weeks. Refinancing was down for the fourth straight week and the volume of purchase applications fell as well. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures volume, was down 6.3 percent on a seasonally adjusted basis from one week earlier and 6.0 percent before adjustment. Refinancing led the way down. That index retreated by 7 percent from the previous week's level and was 22 percent lower than the same week one year ago. Refinancing still dominated the market, although that share of applications decreased to 63.3 percent of total applications from 63.9 percent the previous week. The Purchase Index was 5 percent lower week-over-week on both

October 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 Oct 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 5.5 101.15 -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 99.52 -0.25 UMBS 5.5 101.15 -0.13 UMBS 6.0 102.46 -0.08 GNMA 5.0 99.87 -0.20 GNMA 5.5 101.11 -0.08 GNMA 6.0 102.09 -0.10 Pricing as of: 9/9 12:02PM EST US Treasury Yield Change 2 YR Treasury 3.537 +0.049 5 YR Treasury 3.605 +0.043 7 YR Treasury 3.809 +0.040 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.732 +0.041 Pricing as of: 9/9 12:02PM EST Other News Mortgage Application Volume Declines For Fourth Consecutive Week Wed, Oct 20, 2021 10:20AM Mortgage application volume fell sharply last week, the second decline of more than 6 percent in the past three weeks. Refinancing was down for the fourth straight week and the volume of purchase applications fell as well. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures volume, was down 6.3 percent on a seasonally adjus... (read more) New Home Purchase Applications Fall as Construction Costs Rise Wed, Oct 20, 2021 10:22AM The volume of applications for mortgages to purchase newly constructed homes plunged in September, falling 16.2 percent from the September 2020 level according to the Mortgage Bankers Association's (MBA's) Builder Application Survey (BAS.) Compared to August the volume of applications was down 4.0 percent. These changes are not seasonally adjusted. Based on ... (read more) MLO Jobs; BI, HELOC, Joint Venture, Sales Tools; Bank Market Share Study; Upcoming Events; Jumbo News Fri, Oct 22, 2021 10:31AM Semper Fi! Tomorrow marks the 38th anniversary of the 1983 bombing in Beirut of a U.S. Marine barracks in the largest conventional explosive blast in history killing 241 Americans. San Diego has a huge military presence, and while there I spent a few hours with the folks at PenFed discussing trends in jumbo lending and the overall market for the near future ... (read more) Latest Video The 2pm Bond Report - October 22, 2021 Milken's chief economist on Fed's new restrictions for officials October manufacturing PMI comes in at 59.2, services at 58.2 The 9am Bond Report - October 22, 2021 Around the Web CNBC Jeffrey Gundlach says inflation will stay above 4% through 2022 Reuters Fed's Powell says it's time to taper bond purchases, but not raise rates Calculated Risk Blog The Coming Deceleration in House Price Growth National Associattion of Realtors September 2021 REALTORS Confidence Index Report: Fall Housing Market Starts on a Calmer Note Reuters U.S. 2021 fiscal year deficit below prior year's record, Treasury says Reuters China's troubled property behemoth averts default, signals business shift CNBC Watch Fed Chairman Jerome Powell speak live at a Bank for International Settlements conference Calculated Risk Blog Q3 GDP Forecasts: Around 2.5% CNBC Buying a home is a goal for many Americans. How this bank is helping members of low- and moderate-income communities achieve that CNBC Buying a home is a goal for many Americans. How this bank is helping members of low- and moderate-income communities achieve that Redfin Homebuyer Bidding War Rate Drops to 2021 Low in September Calculated Risk Blog Black Knight: National Mortgage Delinquency Rate Decreased in September CNBC 10-year Treasury yield tops 1.68% as investors digest jobless claims report

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