The week preceding the Independence Day holiday saw a further decline in mortgage applications for both home purchases and refinancing. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 1.8 percent on a seasonally adjusted basis during the week ended July 2 and was down 2 percent on an unadjusted basis. The Refinance Index declined 2 percent from the previous week and was 8 percent lower than the same week one year ago. The refinance share of mortgage activity decreased to 61.6 percent of total applications from 61.9 percent the previous week. The Purchase Index was 1 percent lower than the preceding week on both an adjusted and unadjusted basis. The volume was 14 percent lower than the same week one year ago. Refi

July 7, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jul 7, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 11:58AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 11:58AM EST Other News Rates Down, Jobs Up, But Mortgage Applications Still Decline Wed, Jul 7, 2021 8:08AM The week preceding the Independence Day holiday saw a further decline in mortgage applications for both home purchases and refinancing. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 1.8 percent on a seasonally adjusted basis during the week ended July 2 and was down 2 percent ... (read more) CoreLogic Sees Home Buyers Passing Rather than Compromising Tue, Jul 6, 2021 4:09PM CoreLogic report for May is yet another reporting home prices are still moving higher. May's year-over-year appreciation of 15.4 percent was the highest since 2005. On a monthly basis the April to May gain was 2.3 percent. Detached properties appreciated at a rate of 17.2 percent, nearly double the 9.1 percent rate for attached properties as prospective buye... (read more) MLO Jobs; UW, Fee Reduction, Jumbo, Dashboard, Processing Tools; State Regulatory Shifts; Rates Waiting for Economic Rebound Wed, Jul 7, 2021 11:52AM Sorry the commentary was a little late today. I was on the phone dealing with my car’s extended warranty. Per the personalized recording, they’ve been trying to reach me for quite some time! Returning to reality, but speaking of cars, has anyone noticed the number of oddly-colored cars on the roads increasing? Seems like Subaru and Toyota are lea... (read more) Latest Video Fed wants to buy time, not act too soon, says Cresset Capital's Jack Ablin Fed minutes: Members discusses process and pace of tapering stimulus measur... DIY demand set to lag pro homebuilding services, says JPMorgan analyst Fed tapering likely to start between November and January: Investor Around the Web Federal Reserve Minutes of the Federal Open Market Committee, June 15-16,2021 Calculated Risk Blog FOMC Minutes: "Inflation Risks tilted to upside", Begin reducing asset purchases "somewhat earlier" CNBC Did state cuts to unemployment benefits get people back to work in June? CNBC Federal Reserve releases minutes of its June 15-16 meeting Calculated Risk Blog Las Vegas Real Estate in June: Sales up 53% YoY, Inventory down 46% YoY Reuters Flight to bonds sends yields below key level; stocks mixed Calculated Risk Blog BLS: Job Openings "Little Changed" at 9.2 Million in May Fannie Mae Consumers Increasingly Adamant That It's a Good Time to Sell, Bad Time to Buy a Home CNBC 10-year Treasury yield dips ahead of Fed meeting minutes Calculated Risk Blog Denver Real Estate in June: Sales Down 1% YoY, Active Inventory Down 51% YoY Calculated Risk Blog Seven High Frequency Indicators for the Economy Calculated Risk Blog ISM Services Index Decreased to 60.1% in June CNBC Oil prices could 'very easily' top $100 a barrel, says former U.S. energy secretary

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