Bonds Making a Case For a New Trend We've talked a lot about the linear uptrend in bond yields that began in April.  It was defeated by the end of June and bonds began drifting sideways.  But now they may be making a case for a new trend toward lower rates. Econ Data / Events 11:30-11:50 AM (ET) -  Fed 30yr UMBS Buying    Jobless Claims 1.314m vs 1.375m f'cast, 1.427 prev Continued Claims 18.062m vs 18.95m f'cast, 19,290m prev Market Movement Recap 08:16 AM Once again, stocks and bonds made a modest move to start the overnight session and were then extremely flat since then.  MBS starting out up 1 tick (0.03) and 10yr yields are down 1.3bps at .653 11:00 AM Bonds are rallying nicely now as the stock market swan dives.  10yr yields down more than 4bps to .62%+ and UMBS 2.0 up an eight, quickly approaching 103.00 12:57 PM MBS outperforming as Treasuries prepare for the 30yr bond auction.  UMBS 2.0 up nearly a quarter point, now at all-time highs of 103. 01:51 PM There's a bit of a run on bonds at the moment, and it is NOT relying on stock market weakness.  10yr yields are challenging the lowest levels since mid May and UMBS 2.0 coupons are up almost 3/8ths of a point trading at 103-04 (103.125). 03:55 PM Bond rally ran out of steam--especially for MBS.  We're still stronger on the day, but more than a quarter point off the highs.  No real reason for the reversal apart from the strength that came before it.

July 9, 2020 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Bonds Making a Case For a New Trend Bonds Making a Case For a New Trend We've talked a lot about the linear uptrend in bond yields that began in April.  It was defeated by the end of June and bonds began drifting sideways.  But n... (read more) Mortgage Rate Watch Fairly Innocent Wake-Up Call For Mortgage Rate Watchers Mortgage rates were unchanged today for the average lender. That means they remain at all-time lows that are even lower than the all-time lows seen during the previous 3 business days. Even so, today's underlying market movement might be a bit of a w... (read more) Housing News Realtors Report that their Customers are Back A new survey by the National Association of Realtors® (NAR) has found that the vast majority of its members feel as though their businesses are back on track. NAR says, "After enduring months of setbacks brought on by the coronavirus pandemic... ... (read more) Rob Chrisman LO Jobs; Marketing Products; Compliance News: Is a "like" a "thing of value"? United Airlines may lay off 36,000? Bed, Bath, and Beyond closing 200 stores? Walgreen’s cutting 4,000? Yup. Lower rates won’t save those jobs, but we’ll have low rates for a long time. Things are different for residential lenders. ... (read more) Housing News Housing Market Confidence Continues to Bounce Back Fannie Mae's Home Purchase Sentiment Index (HPSI) continued to rebound last month from its sharp retreat to near record lows in the Spring. The Index, based on selected responses to the company's National Housing Survey (NHS) fell an aggregate 29.5 p... (read more) Housing News Mortgage Application Volume Recovers its Momentum Mortgage application volume bounced back into positive territory last week , even though banks and many businesses were closed on Friday for the Independence Day Holiday. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measu... (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 5.5 100.07 +0.26 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 7:01PM EST 10 Year US Treasury 4.2246 -0.0567 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 7:01PM EST Latest Video Evictions could hit crisis level—Here's how it's impacting real estate tren... Mnuchin: We support another round of economic payments Treasury Secretary Steven Mnuchin on extending PPP loans and enhanced emplo... Allianz's El-Erian on unemployment data, earnings outlook and tech stock va... Around the Web CNBC CEO of Century 21 parent says suburban home search is up across the country, following New York's lead Calculated Risk Blog DOT: Vehicle Miles Driven decreased 26% year-over-year in May CNBC Treasury's Mnuchin backs narrower coronavirus aid package as talks with Congress resume CNBC WHO warns the coronavirus is 'getting worse,' continues to accelerate Redfin The Pros and Cons of Buying a House with a Septic Tank CNBC Wells Fargo tells new clients they need $1 million in balances for certain mortgage refinancings CNBC Record low rates make it a good time to refinance student loans, but avoid these pitfalls CNBC Empty Manhattan apartments reach record levels, landlords slash rent CNBC Weekly jobless claims total 1.314 million, vs 1.39 million estimate CNBC Fed's Bullard sees unemployment falling to as low as 7% this year CNBC Two-thirds of laid off workers eligible for benefits that exceed their wages: NBER paper Calculated Risk Blog Houston Real Estate in June: Sales Up 18.3% YoY, Inventory Down 17.5% YoY, Concerns going forward Redfin House Hunting? 10 Potential Red Flags to Be Aware of

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