Refinance loans continued to dominate mortgage originations in July, but the gap with purchase loans is closing. Ellie Mae's Origination Insight Report for the month showed refinances with a 54 percent share, down from 58 percent in June. Purchasing increased to 46 percent from 42 percent. The rate on closed 30-year fixed rate mortgages declined from an average of 3.40 percent the previous month to 3.24 percent. Those originated as conventional loans had a rate of 3.26 percent, down from 3.42 percent. The FHA rate averaged 3.26 percent and the VA rate 3.02 percent, down 15 and 18 basis points, respectively. The distribution of loan types shifted slightly. The FHA share picked up 1 percentage point to 11 percent and conventional and VA loans each lost a point, dipping to 79 percent and 6 percent

August 19, 2020 Download our Mobile App: Download our Mobile App: Housing News Share of Purchase Loans now Catching up With Refis Refinance loans continued to dominate mortgage originations in July, but the gap with purchase loans is closing. Ellie Mae's Origination Insight Report for the month showed refinances with a 54 percent share, down from 58 percent in June. Purchasing ... (read more) Housing News CFPB Wants Your Comments on New Kind of QM The Consumer Financial Protection Bureau (CFPB) is proposing a new category of qualified mortgage (QM) which it says is intended to "encourage innovation and help ensure access to responsible, affordable in the mortgage credit market." (we assume the... (read more) Rob Chrisman Ops, MLO Jobs; Production Shell Wanted; CRM, Productivity, Marketing Products; FHA's New Appraisal Delivery Product Three weeks ago the Commentary included a webcam shot of Warrior Canine Connection’s Puppy Cam . (They’ve grown. Rated PG, depending on what they’re up to when you tune in.) What hasn’t grown is Blockbuster Video (remember it?... (read more) Housing News Purchase Apps Still Rising Despite Rate Increases Mortgage rates rose during the week ending August 14 and, while purchase applications sustained some of their momentum, a slowdown in refinancing pulled overall volume down. The Mortgage Bankers Association said its Market Composite Index, a measure ... (read more) Mortgage Rate Watch Still Reeling From Last Week, Mortgage Rates Tiptoe Lower Mortgage rates managed to improve modestly for the average lender today, but they remain significantly higher than they were before last week's regulatory drama . By the time we consider the size, scope, and the precipitous imposition of the new refi... (read more) MBS Commentary MBS Live Recap: Fed Minutes and LLPA Hangover Hurting Rates Fed Minutes and LLPA Hangover Hurting Rates Mortgage rates have been quite rebellious in 2020 when it comes to the guidance offered by the elders that typically tell them what to do.  Treasuries and MBS ... (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 -0.01 Price / Yield Change MBS UMBS 5.5 99.92 -0.01 UMBS 6.0 101.58 +0.00 GNMA 5.5 100.08 +0.01 GNMA 6.0 101.43 +0.03 Pricing as of: 7/1 10:21PM EST 10 Year US Treasury 4.2446 +0.0054 Price / Yield Change US Treasury 2 YR Treasury 3.771 -0.005 5 YR Treasury 3.833 -0.006 7 YR Treasury 4.017 +0.004 10 YR Treasury 4.242 +0.003 30 YR Treasury 4.766 -0.001 Pricing as of: 7/1 10:21PM EST Latest Video Online learning puts student housing debt into focus Refinance applications drop as mortgage rates rise U.S. housing starts total 1.496 million in July, vs 1.240 million expected Millennials turning to Instagram to purchase 'Cheap Old Houses' Around the Web CNBC Federal Reserve releases minutes from its July meeting Calculated Risk Blog AIA: "July architectural billings remained stalled" Calculated Risk Blog Employment: Preliminary annual benchmark revision shows downward adjustment of 173,000 jobs Calculated Risk Blog Phoenix Real Estate in July: Sales up 12% YoY, Active Inventory Down 42% YoY NAHB Eye on Housing New Single-Family Home Size Leveling Off? Redfin Luxury Home Prices Bounce Back, Rising 1.2% in Early Summer CNBC Fed faces a 'major challenge' in making its new inflation strategy official, former governor says CNBC Treasury yields edge lower ahead of Fed minutes; U.S.-China tensions persist Calculated Risk Blog Lawler: Early Read on Existing Home Sales in July CNBC Here's what happened to the stock market on Tuesday NAHB Eye on Housing Custom Home Building Outperformed the Market During 2Q20 CNBC Kelly Evans: A housing-led recovery CNBC Millions of Americans are facing longer periods of unemployment, posing greater financial risks

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