Mortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there are different varieties of bonds as well as different levels of willingness to react on the part of mortgage lenders. In today's case, the bonds that specifically govern mortgages aren't doing quite as well as the broader bond market. As of this morning, lenders weren't seeing enough improvement to make any meaningful changes to their rate offerings. Mortgage-backed bonds have improved somewhat throughout the day. At face value, that seems like it should help mortgage rates and indeed it might. The issue is that there hasn't been quite enough improvement for the average lender

July 15, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jul 15, 2019 Mortgage Rates Little-Changed Despite Bond Market Gains Mon, Jul 15, 2019 4:18PM Mortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there are different varieties of bonds as well as different levels of willingness to react on the part of mortgage lenders. In today's case, the bonds that specifically govern mortgages aren't doing quite as well as the broader bond market. As of this morning, lenders weren't seeing enough improvement to make any meaningful changes to their rate offerings. Mortgage-backed bonds have... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 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 UMBS 30YR 5.5 101.30 +0.17   97.47 101.61 UMBS 30YR 6.0 102.45 +0.06   99.66 102.50 10 YR Treasury 4.037 -0.030   3.621 4.780 MBS Live Recap: Sleepy Session, But Tomorrow Could be Different Mon, Jul 15, 2019 4:42PM Today was one of those unofficial 3-day weekend type of Mondays with light volume, light trader participation, and "drifty" trading momentum.  A market holiday in Tokyo (Asian market hours' requisite hub for cash Treasury trading) didn't help start the day off strong for the US bond market.  but even after the European session began, volumes remain... (read more) MBS Price Change UMBS 5.0 99.91 +0.28 UMBS 5.5 101.29 +0.16 UMBS 6.0 102.45 +0.05 GNMA 5.0 100.24 +0.24 GNMA 5.5 101.23 +0.09 GNMA 6.0 101.98 -0.02 Pricing as of: 9/15 6:08PM EST US Treasury Yield Change 2 YR Treasury 3.537 -0.016 5 YR Treasury 3.600 -0.030 7 YR Treasury 3.792 -0.024 10 YR Treasury 4.040 -0.026 30 YR Treasury 4.661 -0.021 Pricing as of: 9/15 6:08PM EST Other News Everything You Need to Know About Housing - and Then Some Fri, Jul 12, 2019 11:28AM The U.S. Census Bureau recently released a treasure trove of data, its 2018 report on Characteristics of New Housing. The report, based on data collected by the Bureau's Survey of Construction, covers a huge array of stats about new single-family housing on both a national and a regional basis. Much, but not all of the information dates back to 1973 and is p... (read more) New Home Buyers Shied Away in June Despite Friendly Rates Fri, Jul 12, 2019 10:52AM Applications for financing new home purchases slipped in June in spite of the continued easing of mortgage interest rates. The Mortgage Bankers Association (MBA) said its Builder Application Survey (BAS) shows mortgage applications for new home purchases increased 17.9 percent compared from a year ago but were down 14 percent from the previous month. This ch... (read more) VA Churning is Costing All Ginnie Mae Borrowers and Investors Fri, Jul 12, 2019 8:21AM The Government National Mortgage Association (Ginnie Mae) is the agency, housed under the Department of Housing and Urban Development, that converts government guaranteed mortgages into mortgage-backed securities for investors to purchase. Their originations are 57 percent FHA loans, 40 percent VA loans, and 3 percent loans from other government programs, pr... (read more) Non-QM, Broker, Marketing, Tech Products; Wholesale News; Webinars Mon, Jul 15, 2019 8:47AM You don’t think your spouse listens to you? What about Google? You bet: “Google Very Angry After Contractor Leaks Over a Thousand Assistant Recordings.” Interesting that many of the “best and brightest” of people in their 20s and 30s want to work for an advertising company. (Yes, 80-90% of Google/Alphabet’s revenue comes f... 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