Daily Newsletter: Wednesday June 26, 2019

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June 26, 2019

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Compare Mortgage Rates from Local Lenders for Jun 26, 2019

Mortgage Rates Barely Budge Despite Bond Market Improvement

Tue, Jun 25, 2019 5:11PM

Mortgage rates were little-changed again today, despite moderate improvement in the broader bond market. Although it's MBS (the mortgage-backed securities that underlie mortgage loans) that have a direct effect on mortgage rates, the broader bond market--especially the 10yr Treasury yield--tends to move at the same time and by the same amount. With 10yr yields down 0.03% and mortgage rates unchanged, that clearly wasn't the case today. So what gives? Again, mortgage rate movement is up to MBS. Sometimes MBS have better or worse days compared to Treasuries. Today was worse . The reasons are a b... (read more)

Mortgage News Daily	Rate	Change	Points
30 Yr. Fixed	6.29%	+0.02	0.00
15 Yr. Fixed	5.72%	+0.02	0.00
30 Yr. FHA	6.00%	+0.03	0.00
30 Yr. Jumbo	6.25%	0.00	0.00
7/6 SOFR ARM	5.65%	+0.02	0.00
30 Yr. VA	6.01%	+0.02	0.00
Updates Daily - Last Update: 9/12

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 Day Ahead: Treasury Weakness is a Chance for MBS to Catch Up

Wed, Jun 26, 2019 9:59AM

In the day just past, bonds extended the gains seen on Monday with 10yr yields hitting 1.98% before encountering resistance. The gains are most readily attributed to an imbalance of short positions (traders betting on rates moving higher) and a... (read more)

MBS	Price	Change
UMBS 5.0	99.63	+0.06
UMBS 5.5	101.13	+0.02
UMBS 6.0	102.40	0.00
GNMA 5.0	100.00	-0.08
GNMA 5.5	101.13	-0.08
GNMA 6.0	102.01	-0.04
Pricing as of: 9/14 12:12AM EST

US Treasury	Yield	Change
2 YR Treasury	3.553	+0.009
5 YR Treasury	3.630	+0.027
7 YR Treasury	3.816	+0.038
10 YR Treasury	4.066	+0.040
30 YR Treasury	4.681	+0.023
Pricing as of: 9/14 12:12AM EST

Other News

Freddie Mac Portfolio Growth Accelerates

Wed, Jun 26, 2019 9:44AM

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 7.5 percent in May , increasing from 6.2 percent the previous month. The portfolio balance at the end of the period was $2.230 trillion compared to $2.216 trillion at the end of April and $2.120 trillion a year earlier. Purchases and Issuances totaled $46.082 ... (read more)

"Dovish" FOMC Statement Bolsters Refi Activity

Wed, Jun 26, 2019 8:08AM

The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, managed a seasonally adjusted 1.3 percent increase during the week ended June 21st as mortgage interest rates continue to drift lower. The index was up 1 percent from the previous week on an unadjusted basis. Refinancing remained strong, accounting f... (read more)

New Home Sales in West Plummet, Skewing National Totals

Tue, Jun 25, 2019 10:51AM

It was another disappointing month for new home sales , but due entirely to a sharp decline in those sales in the West. The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes in May were at a seasonally adjusted annual rate of 626,000 units. This is 7.8 percent below the revised (from 673,000) April r... (read more)

Capital Markets Products; New Programs From Agencies, Lenders, and Investors

Wed, Jun 26, 2019 8:35AM

When I grow up, I want to own… 16,000 single family homes? Yes, here’s an article about how artificial intelligence has helped a landlord, and fund, accumulate that portfolio of rentals. It is a safe bet that a) the fund won’t be coming to you for a loan, and b) those are 16,000 homes that first-time home buyers won’t be viewing in a... (read more)

Latest Video

January new home sales drop nearly 7%

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Treasury yields tick higher as investors digest Powell comments

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Fed pushes back on aggressive U.S. rate cut views

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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