Daily Newsletter: Monday April 29, 2019

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April 29, 2019

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Compare Mortgage Rates from Local Lenders for Apr 29, 2019

Mortgage Rate Stay Lower Week-Over-Week

Fri, Apr 26, 2019 7:09PM

Mortgage rates improved again today, keeping the week-over-week move decidedly friendly. For more on the weekly move, see the in-depth discussion in yesterday's coverage ( read more... ). Long story short, the widely-followed Freddie Mac rate survey is always frequently cited in mortgage rate coverage from major media outlets on Thursday. It can also be a bit stale due to its methodology. In yesterday's case, it resulted in multiple articles claiming rates were higher on the week when in fact they were lower. And now they're a bit lower again today! Things could certainly change next week as t... (read more)

Mortgage News Daily	Rate	Change	Points
30 Yr. Fixed	6.22%	+0.09	0.00
15 Yr. Fixed	5.75%	+0.04	0.00
30 Yr. FHA	5.95%	+0.04	0.00
30 Yr. Jumbo	6.14%	-0.01	0.00
7/6 SOFR ARM	5.65%	0.00	0.00
30 Yr. VA	5.98%	+0.06	0.00
Updates Daily - Last Update: 9/17

Freddie Mac	Rate	Change	Points
30 Yr. Fixed	6.35%	-0.15	0.00
15 Yr. Fixed	5.50%	-0.10	0.00
Updates Weekly - Last Update: 9/11

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

MBS Live Week Ahead: Room For Improvement (or Weakness) Depending on Big Data Lineup

Mon, Apr 29, 2019 9:55AM

This is a very big weak in terms of economic data and its relationship with bond market trading levels. In a nutshell, yields dropped sharply into a new, lower range in late March. Gains were then erased at a medium-fast pace in April... (read more)

MBS Live Day Ahead: What's In a GDP Report?

Fri, Apr 26, 2019 11:44AM

GDP was hotly anticipated this week and rightfully so. The trading reaction has been the week's most volatile and has carried the most volume. Paradoxically, the 3.2% vs 2.0% reading resulted in a bond market RALLY (just the opposite of w... (read more)

MBS	Price	Change
UMBS 4.5	97.72	+0.09
UMBS 5.0	99.71	+0.12
UMBS 5.5	101.15	+0.12
GNMA 4.5	98.10	+0.09
GNMA 5.0	100.00	+0.18
GNMA 5.5	101.02	+0.13
Pricing as of: 9/18 2:43AM EST

US Treasury	Yield	Change
2 YR Treasury	3.538	-0.025
5 YR Treasury	3.633	-0.023
7 YR Treasury	3.817	-0.023
10 YR Treasury	4.064	-0.017
30 YR Treasury	4.658	-0.030
Pricing as of: 9/18 2:43AM EST

Other News

Freddie Mac Mortgage Portfolio Jumps by 8.0 Percent in March

Mon, Apr 29, 2019 10:28AM

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 8.0 percent in March, growing from 3.0 percent the previous month. The portfolio balance at the end of the period was $2.204 trillion compared to $2.190 trillion at the end of February and $2.102 trillion a year earlier. Purchases and Issuances totaled $37.311... (read more)

Homeownership Rates and Vacancies Holding Steady

Fri, Apr 26, 2019 10:06AM

Both homeownership and vacancy rates were essentially unchanged in the first quarter of this year according to data released on Thursday by the U.S. Census Bureau. The national homeownership rate slipped 0.4 percentage point to 64.2 percent compared to the fourth quarter of 2018 but was unchanged from a year earlier. The national vacancy rate was 7.0 percent... (read more)

Compliance, Servicemember Products; The CFPB is Alive and Well

Mon, Apr 29, 2019 9:08AM

When I was a kid in California, as with my parents and their parents, and their parents, flowers and fruits had seasons. Roses bloomed in the spring. There weren’t any peaches from October through June. Apricots & cherries were eaten in May and June, pomegranates in October and November, watermelon in the summer. (In fact, for most of human history... (read more)

Latest Video

January new home sales drop nearly 7%

Bank of America CEO: Loan demand showing consistent growth

UK parliament votes on options to delay Brexit

January new home sales fall short of expectations, down 6.9 percent

Around the Web

Reuters

Global stocks climb as S&P 500 hits record, oil rises after selloff

CNBC

The Fed is looking at a new program that could be another version of 'quantitative easing'

Reuters

Strong U.S. growth, weak inflation leave Fed stuck happily on hold

CNBC

San Francisco Bay Area home prices fall for the first time in 7 years

Calculated Risk Blog

Q1 2019 GDP Details on Residential and Commercial Real Estate

Redfin

In Charleston, 24% of Homes Are Affordable on a Teacher's Salary, Down From More Than 50% Five Years Ago

Calculated Risk Blog

Dallas Fed: "Growth in Texas Manufacturing Activity Picks Up Slightly"

NAHB Eye on Housing

How Tariffs and Tariff Announcements are Affecting Building Materials Imports from China

CNBC

Core personal consumption expenditures index unchanged in March, vs 1.7% increase expected

Bloomberg

The Fed Might Have Drawn Markets Into a 'Dove Trap'

Calculated Risk Blog

Freddie Mac: Mortgage Serious Delinquency Rate Decreased in March

CNBC

Trump advisor Kevin Hassett says 3.2% GDP growth 'absolutely' sustainable this year, could even go higher

Calculated Risk Blog

Q1 Review: Ten Economic Questions for 2019

Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.

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