Refinancing continues to support mortgage application activity while purchase applications continued to weaken during the week ended July 23. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume, increased 5.7 percent on a seasonally adjusted basis from the prior week and the unadjusted index was up 6 percent. The Refinance Index rose by 9 percent although it was down 10 percent from its level the same week one year ago. The refinance share of mortgage activity increased to 67.2 percent of total applications from 64.9 percent the previous week. The seasonally adjusted Purchase Index decreased 2 percent and unadjusted Purchase Index ticked down 1 percent compared with the previous week. The latter was 18 percent lower than the

July 28, 2021 Download our Mobile App: Download our Mobile App: Housing News COVID Concerns Drive Rates Lower, Refi Volume Rises Refinancing continues to support mortgage application activity while purchase applications continued to weaken during the week ended July 23. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan applicati... (read more) Rob Chrisman AE Jobs; Processing, Pricing, Retention, Sales Tools; Ginnie, FHA, VA Changes I didn’t sign up for a 401k. I can’t run that far. Understanding numbers is important, as is accurately reporting them. For example, yesterday I mistakenly noted that the TMBA’s Annual Convention was August 29-30 when it’s act... (read more) Housing News Homeownership Rates Fall Across the Board The U.S. Census Bureau says the nation's Homeownership Rate was at 65.4 percent in the second quarter of 2021. This is down from both the previous quarter's 65.6 percent , and a year earlier when it was reported at 67.9 percent. However, the Bureau c... (read more) Mortgage Rates What Will The Fed Do To 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 MBS Live Recap: Fed Hints At Tapering, But Bonds Don't Care 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 7:00PM 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 7:00PM EST Latest Video Fed signaled tapering is coming next, says Sarah Bloom Raskin Little support for tapering MBS earlier than Treasurys: Fed Chair Powell 'It may take some time' — Fed's Powell on labor market recovery Fed should have started tapering yesterday: BlackRock's Rieder Around the Web Reuters S&P 500 ends little changed as Powell says Fed still a ways away from rate hikes Reuters U.S. Senate to vote on infrastructure after bipartisan breakthrough CNBC Pfizer's CEO says Covid vaccine effectiveness drops to 84% after six months Reuters Fed says economy continues to 'strengthen,' cites progress on bond taper goals Calculated Risk Blog Zillow Case-Shiller House Price Forecast: "Expected to decelerate", 16.2% YoY in June Calculated Risk Blog A few comments on the Seasonal Pattern for House Prices CNBC A record profit margin reading shows companies are winning inflation battle Reuters U.S. goods trade deficit widens; inventories rise CFPB CFPB Releases Online Tool to Help Renters and Landlords Access Federal Assistance Calculated Risk Blog MBA: Mortgage Applications Increase in Latest Weekly Survey CNBC Treasury yields climb ahead of Fed policy decision Calculated Risk Blog House Prices and Inventory CNBC The Fed's concern about the spreading virus may keep it from tightening policy

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