It was a bit of a bittersweet day for mortgage rates . On the one hand, it was the Fed's first day buying a new category of mortgage-backed bonds--one that would help pave the way for rates to move gradually lower if the broader bond market remains in reasonably strong territory. On the other hand, the broader bond market had a very bad day, thus raising questions about how much longer it will remain in reasonably strong territory. Mortgage rates have been doing a very good job of resisting the implications for higher rates seen in the broader bond market, but there's a limit to how long they can continue to hold out. If we continue having days like today in the broader bond market (i.e. 10yr Treasury yields rising more than 0.06%), mortgage rates will increasingly be compelled to move in the

October 29, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 29, 2020 Mortgage Rates Can Only Hold Out For So Long Thu, Oct 29, 2020 2:54PM It was a bit of a bittersweet day for mortgage rates . On the one hand, it was the Fed's first day buying a new category of mortgage-backed bonds--one that would help pave the way for rates to move gradually lower if the broader bond market remains in reasonably strong territory. On the other hand, the broader bond market had a very bad day, thus raising questions about how much longer it will remain in reasonably strong territory. Mortgage rates have been doing a very good job of resisting the implications for higher rates seen in the broader bond market, but there's a limit to how long they ... (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 UMBS 30YR 5.0 99.45 -0.14   95.05 100.47 UMBS 30YR 5.5 101.00 -0.03   97.47 101.61 10 YR Treasury 4.112 +0.031   3.706 4.780 MBS Live Recap: Technicals And Fundamentals Join Forces to Deliver Warning For Rates Thu, Oct 29, 2020 4:50PM Technicals And Fundamentals Join Forces to Deliver Warning For Rates Whether we're talking about the week as a whole or simply today's trading session, bonds tried to convince us they were in good shape only to give up the gains and head back toward weaker levels.  MBS are outperforming, but the Treasury weaknes... (read more) MBS Price Change UMBS 4.5 97.38 -0.25 UMBS 5.0 99.44 -0.15 UMBS 5.5 100.97 -0.06 GNMA 4.5 97.62 -0.40 GNMA 5.0 99.74 -0.08 GNMA 5.5 100.88 -0.01 Pricing as of: 9/18 10:25AM EST US Treasury Yield Change 2 YR Treasury 3.576 +0.012 5 YR Treasury 3.677 +0.021 7 YR Treasury 3.870 +0.030 10 YR Treasury 4.118 +0.037 30 YR Treasury 4.728 +0.040 Pricing as of: 9/18 10:25AM EST Other News Pending Home Sales Fall Back to The 2nd Highest Level on Record Thu, Oct 29, 2020 10:21AM Pending home sales faltered a bit in Septembe r, like new home sales announced earlier this week, the decline ended a four-month winning streak. The National Association of Realtors® (NAR) said that its Pending Home Sales Index (PHSI) fell to 130.0, a 2.2 percent retreat from the August level. The index, based on signed contracts to purchase existing sin... (read more) Lower Rates Bringing In More Buyers (And Higher Prices) Wed, Oct 28, 2020 11:59AM The percentage of potential home buyers who perceive housing in their market as affordable increased in the third quarter, at least as reported in a recent National Association of Home Builders (NAHB) survey. NAHB's Housing Trends Report says that 27 percent of buyers responding to the survey reported they could afford at least half of the homes available fo... (read more) Mortgage Apps Rise Slightly, Purchase Loans End Four-Week Drought Wed, Oct 28, 2020 11:43AM Mortgage application volume rose slightly during the week ended October 23. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 1.7 percent on a seasonally adjusted basis from one week earlier, its first increase in three weeks. On an unadjusted basis, the Index was 2.0 percent higher. The Refinance Ind... (read more) Cap. Mkts., LO Comp Survey, Fulfillment, Retention Tools; Agency-related Changes Thu, Oct 29, 2020 9:43AM This weekend we receive an extra hour of 2020. If there was ever a reason to end the time change, this certainly is it! Markets don’t like uncertainty, and nothing about 2020 has been certain (although this morning we learned two certainties: Fannie Mae’s net income was $4.2 billion for the third quarter of 2020, compared with net income of $2.5 ... (read more) Latest Video The 9 a.m. Bond Report: October 29, 2020 Pending home sales are down 2.2% month-over-month U.S. weekly jobless claims total 751,000, vs 778,000 expected U.S. GDP grew 33.1% in the third quarter, vs 32% estimate Around the Web CNBC Earnings for apartment owners show the pain of urban flight Calculated Risk Blog Hotels: Occupancy Rate Declined 31.7% Year-over-year CNBC Pelosi presses Mnuchin for answers on coronavirus stimulus as she pushes to restart talks CNBC Watch ECB President Christine Lagarde speak after latest policy move CNBC U.S. weekly jobless claims total 751,000, vs 778,000 expected CNBC U.S. GDP grew 33.1% in the third quarter, vs 32% estimate CNBC Sharp third-quarter growth will show the economy regaining ground, but it's still in a hole Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency Rate decreased in September CNBC Germany announces new Covid restrictions, France braces for more as virus surges across Europe NAHB Eye on Housing Some Buyers Perceive an Improvement in Housing Affordability CNBC Real estate fintech CoreLogic receives multiple bids at more than $80 a share, sources say Calculated Risk Blog Zillow Case-Shiller House Price Forecast: "Annual growth in September as reported by Case-Shiller is expected to accelerate" CNBC As Washington delays stimulus, the Fed appears to be running out of ways to help the actual economy

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