May mortgage performance data indicates that the mortgage finance industry might consider shifting priorities for a while. Black Knight, in the current edition of its Mortgage Monitor, points to the heavy prepayment risk for especially for adjustable rate mortgage (ARM) borrowers shown in the report and the growing pool of financeable mortgages. It is time, Black Knight says, for lenders and servicers to focus attention on retention so their existing customers don't refinance elsewhere. Behind both of the activities cited, of course, is the continuing retreat of interest rates. On Thursday Freddie Mac announced another 11-basis point (bp) slide in its mortgage rate, bringing it to 3.73 percent, a three-year low. The Monitor has reported in several of its recent editions about the growing pool

July 1, 2019 Download our Mobile App: Download our Mobile App: Housing News Prepayments and Refinancing Reflect a Friendly Falling Rate Environment May mortgage performance data indicates that the mortgage finance industry might consider shifting priorities for a while. Black Knight, in the current edition of its Mortgage Monitor, points to the heavy prepayment risk for especially for adjustable... (read more) MBS Commentary MBS Live Week Ahead: What Trade Deal? Bring On The Data! In the week just past, bonds avoided a negative correction following the previous week's Fed-induced rally.  There was plenty of back and forth, but it was all contained inside the range of yields seen on June 19th (Fed day).  By the end of... (read more) Housing News Single-Family Construction Spending Gets Hit Hard, Down From Last Year Construction spending in May, dipping 0.8 percent compared to April's seasonally adjusted annual rate of $1.304 trillion to $1.294 trillion. On an annual basis, overall spending is down 2.3 percent on an annual basis and residential spending is off 1... (read more) Rob Chrisman DPA, Warehouse Products; Conventional Conforming News: Agency Reform? Not so Fast! Huh? We’re in the 3rd quarter of 2019 already? To where did the first six months fly off? I am hearing from some lenders that solid April, May, and June (aka, 2Q 2019) made up for poor 4th quarter and 1st quarter numbers. Locked pipelines are f... (read more) Mortgage Rate Watch Rates Face Big Volatility Risk Next Week Mortgage rates enjoyed a pleasantly flat week despite some volatility in the underlying bond market. The day-to-day changes in Treasuries and Mortgage-Backed-Securities (MBS) were noticeable, but they all took place inside the range of values seen la... (read more) Housing News Rent or Buy? The Answer May Depend on Your Other Expenses A household's decision between buying a home and renting one is being increasingly determined by its student loan debt and childcare cost burdens according to results of a Freddie Mac survey of renters and homeowners. The survey of 4,000 households s... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.02 +0.21 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:18PM EST 10 Year US Treasury 4.2290 -0.0523 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:18PM EST 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 NAR - Realtor.com American Suburbs Swell Again as a New Generation Escapes the City Calculated Risk Blog Update: Framing Lumber Prices Down 35% Year-over-year Bloomberg Your Phone Could Help Make Mortgage Bond Traders Miserable NAHB Eye on Housing The Effect of Affordable Housing on the Surrounding Neighborhood Calculated Risk Blog ISM Manufacturing index Decreased to 51.7 in June CNBC US construction spending unexpectedly fell in May bbc.com G20 summit: Trump and Xi agree to restart US-China trade talks Reuters As U.S. expansion notches record, recovery may have only just begun Bloomberg Traders Seen Sticking to Fed Rate-Cut Bets as Tariffs Remain Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate Decreased in May, Lowest Since July 2007 Reuters U.S. banks play cat-and-mouse game with Fed on capital returns Reuters Explainer: U.S.-China trade talks: where they are and what's at stake Calculated Risk Blog Q2 GDP Forecasts: Around 1.5%

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