There are two main styles of measurement when it comes to keeping track of mortgage rates: daily and weekly.  Sometimes, the differences in methodologies mean that two reputable sources can convey seemingly incongruent conclusions.  Other times, both the granular and general data agree.  This is one of those times. Whether we're looking at MND's daily averages or MBA's weekly survey, mortgage rates hit their lowest levels in 6 weeks by the end of last week.  The drop wasn't immense, but based on today's release of MBA application data, it was enough for a small bump in refinance demand.  As is constantly the case over the past several months, the scope of the mid-2024 spike in application activity is more easily understood with the benefit of additional historical context. Purchase applications are never as sensitive to rates over short time horizons.  In fact, they moved down a bit last week, but the counterpoint is that the purchase index has been holding near recent highs. Here too, broader context changes the takeaway. Other details from the report: Refinances accounted for 39% of the total vs 37.1% last time FHA loans accounted for 16.2%, down a bit from 16.7% VA loans accounted for 13.3% vs 13.2% MBA recorded 30yr fixed rates at 6.97 for the week with 0.64 discount points Jumbo rates were 7.01 with 0.48 discount points

February 5, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Feb 5, 2025 Mortgage Rates Finally Make a Move (Lower) Wed, Feb 5, 2025 2:55PM The recent absence of volatility in day-to-day mortgage rate movement has been an easy target for light-hearted indignation among market watchers.  But to be fair, if rates had been moving swiftly higher/lower/both, most market watchers would wish for some sideways stability.  In fact, for most prospective borrowers as well as mortgage professionals, the only thing better than sideways stability is a healthy drop to lower levels. Now, after a week of utter flatness, we finally have such a drop. Rates are determined by trading levels in the bond market and bonds can be influenced by... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Nice Win For Bonds With Help From Data Wed, Feb 5, 2025 4:03PM Nice Win For Bonds With Help From Data There are plenty of moving pieces at the moment when it comes to assigning credit for various ups and downs in the bond market on any given day.  Many of those can only be guessed at--or at the very least, debated--due to the uncertain eventual impact from economic policies... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 10:18AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 10:18AM EST Other News Refinance Applications Tick Back Up as Rates Play Ball Wed, Feb 5, 2025 3:35PM There are two main styles of measurement when it comes to keeping track of mortgage rates: daily and weekly.  Sometimes, the differences in methodologies mean that two reputable sources can convey seemingly incongruent conclusions.  Other times, both the granular and general data agree.  This is one of those times. Whether we're looking at MN... (read more) HELOC, DPA, Pre-Approval, CRM, Commercial Tools; Training and Webinars Into Next Week Wed, Feb 5, 2025 11:40AM I know where to go when this Commentary writing gig grows stale. Wanna make 30 clams an hour? Costco’s hiring! (Remember when lenders and originators were very nervous about Costco taking over home lending? Or was it Amazon?) I doubt if CFPB employees will be checking out the listings, and I received this note from Florida. “Rob, I have heard rumblings about... (read more) Latest Video Current mortgage rates are the new normal, says Brown Harris Stevens CEO Be... Homebuyer mortgage demand drops further, a troubling sign for the spring ma... Fed President Goolsbee: Supply chains are more fragile in the short-run S&P Global U.S. Services PMI 52.9 vs 52.8 estimated Around the Web Marketwatch Fed's Barkin sees potential soft spot in the U.S. economy Eye on Housing Homeownership Rate for Younger Households Declines CNBC Private payrolls expanded by 183,000 in January, topping expectations, ADP says Eye on Housing Mortgage Applications Increase Marginally in January Calculated Risk Blog ISM Services Index Decreases to 52.8% in January CNBC 10-year Treasury yield slips ahead of U.S. jobs report Forex Live Treasury refunding announcement shows most auction sizes unchanged for several quarters Calculated Risk Blog Asking Rents Mostly Unchanged Year-over-year Calculated Risk Blog MBA: Mortgage Refinance Applications Increased in Weekly Survey; Purchase Applications Declined Eye on Housing Construction Labor Market Softens Calculated Risk Blog Trade Deficit increased to $98.4 Billion in December Calculated Risk Blog Heavy Truck Sales Increased 5% YoY in January Calculated Risk Blog ADP: Private Employment Increased 183,000 in January

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