30 Year Fixed
2.92%    -0.01
15 Year Fixed
2.61%    -0.01
10YR Treasury
0.63%    +0.0066
FNMA 30YR 3.5
105.16    +0.03
FNMA 15YR 2.5
104.86    -0.17
Mortgage Rates Fight The Urge To Move Higher
July 14, 2020

Mortgage rates recovered to some extent today, after moving slightly higher on Friday and yesterday.  The bond market (which underlies rate movement) was surprisingly resilient (good for rates) even as stock prices moved up roughly 1%.  Rising stock prices frequently coincide with rising bond yields in the shortest of terms.  In other words, it's more common to see rates move higher on a day like today.

Credit the Fed for much of the resilience.  Not only is the central bank continuing to purchase Treasuries and mortgage-backed bonds.  They were also out in force today offering broad reassurance about their commitment to continue providing support for financial markets as the economy battles back against coronavirus.  Combine that with unacceptably high covid numbers in several states and the we're left with economic headwinds on one hand and Fed support on the other. 

Fed bond buying and economic headwinds are both good for rates.  As such, it's no surprise to see mortgage rates continue at or near all-time lows.  Most lenders are able to offer top tier 30yr fixed rates under 3.0% although that depends heavily on the scenario.

30 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
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Today's Rates
Best Execution
Rate Change
30 Yr FRM 2.92% -0.01
15 Yr FRM 2.61% -0.01
FHA 30 Year Fixed 2.50% +0.00
Jumbo 30 Year Fixed 3.92% -0.01
5/1 Yr ARM 2.80% -0.01
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 0.00% 0.00 +0.00
30 Yr. Fixed 0.00% 0.00 +0.00
MBA **
30 Yr. Fixed 3.26% 0.35 -0.03
15 Yr. Fixed 2.77% 0.32 -0.04
30 Yr. Jumbo 3.52% 0.36 -0.07
30 Yr. FHA 3.31% 0.24 -0.12
5/1 ARM 2.98% 0.10 -0.06
Freddie Mac **
30 Yr. Fixed 3.03% 0.80 -0.04
15 Yr. Fixed 2.51% 0.80 -0.05
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.02% 0.30 +0.02
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
MBS
Price Change
30YR UMBS 3.0 105.28 +0.03
30YR UMBS 3.5 105.16 +0.03
30YR GNMA 3.0 105.59 +0.23
30YR GNMA 3.5 104.88 -0.11
15YR UMBS 3.0 104.86 -0.17
15YR UMBS 2.5 104.89 -0.08
Treasuries
Yield Change
2 YR 0.1590% +0.0041
5 YR 0.2913% +0.0048
10 YR 0.6250% +0.0066
30 YR 1.3109% +0.0019
Prices as of: 7/14/2020 5:05PM EST
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month.  Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available.  We use a proprietary formula to calculate averages based on best-execution rates from top lender's rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.