Last week, trial results from Pfizer's covid vaccine sent shockwaves through financial markets. Stock prices and bond yields both moved decisively higher. In general, higher bond yields coincide with higher mortgage rates. Last week was no exception, but the mortgage market definitely has much more insulation than normal against bond market weakness. That means big spikes in Treasury yields have translated to smaller spikes in mortgage rates. Nonetheless, higher rates are higher rates, so it made sense to expect another reaction to this morning's deja vu moment when Moderna's vaccine trial results were even better than Pfizer's. For a moment, it seemed like logic would prevail. Bonds lost ground at first, but quickly found their footing. After a few hours, both Treasuries and mortgage bonds

November 16, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Surprisingly Calm Day For Mortgage Rates Last week, trial results from Pfizer's covid vaccine sent shockwaves through financial markets. Stock prices and bond yields both moved decisively higher. In general, higher bond yields coincide with higher mortgage rates. Last week was no exception,... (read more) MBS Commentary MBS Live Recap: Bond Market Indecision After More Vaccine News Bond Market Indecision After More Vaccine News Another Monday, another early morning announcement of staggeringly high efficacy in a covid vaccine trial.  This time, however, bonds didn't lose nearly as ... (read more) Rob Chrisman MLO Jobs; Customer Service, QC, Marketing, Servicing Products; Events and Training From Your Living Room Here’s a good one. “I’m giving up drinking until Christmas. Sorry, wrong punctuation. I’m giving up. Drinking until Christmas.” Did you know that 1/20/2021 (Inauguration Day) is a palindrome!? Or do you know why millions... (read more) Housing News Low Rates No Longer Offsetting Price Gains; Affordability Wanes The National Association of Realtors® (NAR) said on Thursday that home prices have continued to grow in each of the 181 areas it tracks for its quarterly metro home price report. Both record-low mortgage rates and depleted inventories of existing... (read more) Housing News Forbearance Plans Hit Pandemic Low The number of COVID-19 related forbearances plans headed downhill at an increasing pace over the last few week although there is no guarantee the improvement will continue. Black Knight says there was another 4 percent decline , representing 121,000 ... (read more) Housing News Purchase Applications Drop Back to Mid-Spring Levels Mortgage applications , especially for home purchases, pulled back from the previous week's level. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 0.5 percent on a seasonally adjusted... (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 99.89 -0.03 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: 7/2 2:56AM EST 10 Year US Treasury 4.2490 +0.0098 Price / Yield Change US Treasury 2 YR Treasury 3.775 -0.002 5 YR Treasury 3.837 -0.003 7 YR Treasury 4.019 +0.006 10 YR Treasury 4.245 +0.006 30 YR Treasury 4.771 +0.004 Pricing as of: 7/2 2:56AM EST Latest Video Fed doesn't have much firepower to protect near-term economy: Fmr. NY Fed p... Moderna's vaccine efficacy is 'stunning,' says former Medtronic CEO Mick Mulvaney: Policy makers may consider a targeted stimulus approach Moderna CEO on its 94.5% effective Covid vaccine: We hope to get it to mark... Around the Web CNBC Third Republican comes out against Shelton for Fed seat, complicating nomination CNBC More fiscal stimulus is needed even with vaccines, Bill Dudley says CNBC Election results, vaccine news could shake up the outlook for a coronavirus stimulus package. What you know about the aid that may be coming Calculated Risk Blog NY Fed: Manufacturing: Business activity "expanded slightly" in New York State in November NAHB Eye on Housing Strong Gains for September Single-Family Permits Calculated Risk Blog Eight High Frequency Indicators for the Economy CNBC Dr. Scott Gottlieb on Moderna Covid vaccine data: 'We could effectively end this pandemic in 2021' CNBC Coronavirus live updates: U.S. cases cross 11 million; Moderna says its vaccine is more than 94% effective NPR Controversial Fed Nominee Set To Prevail In Senate Confirmation Vote This Week Calculated Risk Blog Mortgage Rates and Ten Year Yield Calculated Risk Blog DOT: Vehicle Miles Driven decreased 9.7% year-over-year in September CNBC Majority of workers are looking for new jobs during Covid-19 pandemic. Here's why NAR - Realtor.com U.S. Housing Market Takes a Breather But Stays Hot

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