Mortgage rates walked back a decent chunk of their recent improvements today. This claim runs counter to almost any other coverage you'll see, but I'm right and they're wrong. Actually to be fair, I'm right in a timely way and they're right in a not-so-timely way. At issue is the weekly release of Freddie Mac's mortgage rate survey, which only captures responses from the first half of any given week. Big market movement from Wednesday afternoon through Thursday morning is never represented in the Thursday release. Despite that, media outlets rely heavily on Freddie's data to craft their customary once-a-week mortgage rate pieces. Today's examples include multiple iterations of "the lowest rates in 3 years," etc. It's true that rates were at their lowest levels in 3 years, but it was only true

September 5, 2019 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are Higher (Not Lower) Versus Last Week Mortgage rates walked back a decent chunk of their recent improvements today. This claim runs counter to almost any other coverage you'll see, but I'm right and they're wrong. Actually to be fair, I'm right in a timely way and they're right in a not-... (read more) Housing News Fewer Prospective Home Buyers Are Actively in the Market Fewer prospective homeowners are making the move from thinking about buying to actively shopping than a year ago, according to a new study by the National Association of Home Builders (NAHB). Rose Quint, writing in NAHB's Eye on Housing blog says the... (read more) Housing News Equity Lending Faces Mixed Future A new study by the Mortgage Bankers Association (MBA) looks at lending and servicing of home equity lines of credit (HELOCs) and closed-end home equity loans (HE Loans.) The study finds that lenders see the current demand for equity lending to be mix... (read more) Housing News Residential Construction Spending Drops Further Off 2018 Pace Construction spending inched up by 0.1 percent in July, to a seasonally adjusted annual rate of $1.289 trillion compared to $1.288 trillion in June. The July figure is 2.7 percent lower than the rate of spending in July 2018. On an unadjusted basis, ... (read more) Rob Chrisman CRA, MI, HMDA Dashboard Products; Freddie and Fannie Changes Do you know what is picking up steam out there? Credit unions are on a “bank buying spree.” The numbers aren’t huge, but these not-for-profit financial firms have acquired a record number of banks since last year, acquiring 21 U.S. ... (read more) MBS Commentary MBS Live Recap: Bond Market Threatens to Turn The Car Around It's only fitting to throw in a vacation-themed reference on Labor Day week.  Unfortunately, only the metaphor is lighthearted.  It's underlying message is a bit more troubling--potentially, anyway.   As far as we could see this... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% 0.00 0.00 15 Yr. Fixed 5.91% 0.00 0.00 30 Yr. FHA 6.19% -0.01 0.00 30 Yr. Jumbo 6.80% 0.00 0.00 7/6 SOFR ARM 6.29% -0.04 0.00 30 Yr. VA 6.20% -0.02 0.00 Updates Daily - Last Update: 7/1 15 Yr. Fixed Rate 5.91% +0.00% 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 99.91 -0.02 Price / Yield Change MBS UMBS 5.5 99.91 -0.02 UMBS 6.0 101.57 -0.01 GNMA 5.5 100.07 +0.00 GNMA 6.0 101.43 +0.02 Pricing as of: 7/1 10:49PM EST 10 Year US Treasury 4.2465 +0.0073 Price / Yield Change US Treasury 2 YR Treasury 3.776 -0.001 5 YR Treasury 3.838 -0.002 7 YR Treasury 4.021 +0.008 10 YR Treasury 4.247 +0.007 30 YR Treasury 4.769 +0.002 Pricing as of: 7/1 10:49PM 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 Bloomberg Trump's Fannie-Freddie Redo Faces Reality' Limits, Beacon Says CNBC The Fed is expected to cut rates only a quarter point, and that may not satisfy markets Bloomberg Bond Bulls Get Big Reminder That Treasuries Aren't One-Way Trade - Bloomberg CNBC Opendoor, online house-flipper, buys title company OS National in bid to own more of residential real estate market Bloomberg Shiller Says U.S. Home Prices Could Start Falling - Bloomberg Calculated Risk Blog ISM Non-Manufacturing Index increased to 56.4% in August consumerfinancemonitor.com The Fed's entry into real-time payments: commercial and contractual implications CNBC US second-quarter productivity unrevised at 2.3% CNBC China and US agree to meet in October for trade negotiations CNBC Private payroll growth jumps by 195,000 in August vs. 140,000 estimate: ADP/Moody's CNBC The Fed will cut rates by a quarter point this month, not a half point, WSJ says Reuters Apple places $7 billion in return to bond market Reuters Fed's rate-cut debate focuses on 'robust' U.S. consumer

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