It's no secret that mortgage rates had a rough month in March and a rough year in general. The average lender raised 30yr fixed rates by roughly half a percent in February and March alone. But April has proven to be an entirely different sort of month so far. In the past 2 weeks, rates are down nearly a quarter of a point on average. Today played a critical role in the improvement as lenders responded in waves to an exceptionally strong day for the underlying bond market (bonds are the primary driver of day-to-day rate fluctuations). One of the most interesting things about today's move was that the bond market improved AFTER a slew of significantly stronger economic data. That's interesting because the quintessential reaction function in the bond market is exactly the opposite! In other words

April 16, 2021 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Falling Quickly to Lowest Levels in Weeks It's no secret that mortgage rates had a rough month in March and a rough year in general. The average lender raised 30yr fixed rates by roughly half a percent in February and March alone. But April has proven to be an entirely different sort of mont... (read more) Housing News Housing Starts Reach Highest Levels Since 2006 Residential construction recovered in March after a serious decline the prior month. The U.S. Census Bureau and Department of Housing and Urban Development said all three measures rose, with housing starts hitting a 15 year high . Some regional incre... (read more) MBS Commentary MBS Live Day Ahead: This Is The Shift. Now It's About Time and Scope For virtually all of 2021 (and much of Q4 2020), we've been tracking an uptrend in Treasury yields.  As the overall move grew to a size rarely seen in the past few decades, we were increasingly eager to see a token correction for technical reaso... (read more) Rob Chrisman Lock Desk, MLO, Underwriter Jobs; POS, Workflow, Digital Tools; Agency's Trend: Not Our Friend? Suddenly everyone’s ruminating on upcoming mergers and acquisitions (and there will definitely be some), but in the lower management ranks, lenders are already shifting their hiring practices , and taking a careful measure of production and pro... (read more) Housing News New Home Purchase Applications Ramping up for Spring True to tradition, new home sales appear to have moved higher in March as the calendar closed in on the start of the spring market. The Mortgage Bankers Association (MBA) estimates sales of newly constructed homes increased by 7 percent compared to F... (read more) Housing News Buyer Demand Provides Modest Boost to Builder Confidence New home builders seem to be slowly getting their mojo back. After recovering from the hit they took in the first days of the pandemic, they encountered labor shortages, supply chain issues, and rising material costs. The National Association of Home... (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 6:50PM 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 6:50PM EST Latest Video Big bull call on the homebuilders Fed Gov. Waller: Inflation could run at 2.5% for 2021 The 9am Bond Report - April 16, 2021 March housing starts surged 19.4%, vs 14% increase expected Around the Web Fannie Mae March Data Rebounds as Stimulus Checks Lead to a Surge in Spending Calculated Risk Blog California March Housing: Sales up 20% YoY, Active Listings down 51% YoY CNBC Fed's Waller says the economy is 'ready to rip' but policy should stay put Calculated Risk Blog Q1 GDP Forecasts: Around 7% Calculated Risk Blog Housing Starts increased to 1.739 Million Annual Rate in March Redfin Housing Market Update: Home Prices Surge 17% Amid Historic Housing Shortage CNBC Treasury yields rebound but still below recent highs Reuters S&P 500, Dow extend record highs on tech stock gains Calculated Risk Blog NMHC: "April Apartment Market Conditions Show Improvement" CNBC 'We need at least one more check.' The case for a fourth stimulus payment CNBC Pfizer CEO says third Covid vaccine dose likely needed within 12 months Reuters World stocks rally as Treasury yields tumble Calculated Risk Blog NAHB: Builder Confidence Increased to 83 in April

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