After falling moderately to start the week, mortgage rates put in a calmer performance on Tuesday. As we discussed yesterday, volatility in the bond market results in lenders making changes to their mortgage rate offerings. Sometimes the volatility is big enough that those changes occur intraday despite lenders generally preferring to set rates only one time on any given day. With that in mind, the ingredients are in place for more change tomorrow . Reason being: late day tweets from Trump threatened to withhold stimulus until after the election. Markets entered a logical tailspin resulting in significant stock losses and improvements for bonds. To reiterate yesterday's conversation, these sorts of bond market improvements typically result in lower rates. The catch is that the tweets were late

October 7, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 7, 2020 Mortgage Rates Roughly Unchanged Today. Tomorrow Could be a Different Story Tue, Oct 6, 2020 4:20PM After falling moderately to start the week, mortgage rates put in a calmer performance on Tuesday. As we discussed yesterday, volatility in the bond market results in lenders making changes to their mortgage rate offerings. Sometimes the volatility is big enough that those changes occur intraday despite lenders generally preferring to set rates only one time on any given day. With that in mind, the ingredients are in place for more change tomorrow . Reason being: late day tweets from Trump threatened to withhold stimulus until after the election. Markets entered a logical tailspin resulting in... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.63 -0.33   95.05 100.50 UMBS 30YR 5.5 101.06 -0.17   97.47 101.61 10 YR Treasury 4.084 +0.053   3.643 4.780 MBS Live Recap: Dashed Hopes For Bond Bounce After Trump Tweet Reversal Wed, Oct 7, 2020 4:39PM Dashed Hopes For Bond Bounce After Trump Tweet Reversal Tuesday was going poorly for bonds until a Trump Tweet threatening to withhold stimulus until after the election sent markets into a tailspin.  Hours later, Trump clarified that he'd gladly sign a bill for $1200 stimulus checks immediately as well as a $25b... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.05 -0.19 GNMA 4.5 98.02 -0.13 GNMA 5.0 99.83 -0.38 GNMA 5.5 100.92 -0.28 Pricing as of: 9/17 6:01PM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.050 5 YR Treasury 3.655 +0.069 7 YR Treasury 3.840 +0.069 10 YR Treasury 4.087 +0.056 30 YR Treasury 4.690 +0.038 Pricing as of: 9/17 6:01PM EST Other News Refi Application Volume Recovers From Last Week's Loss Wed, Oct 7, 2020 8:41AM The Mortgage Bankers Association (MBA) said the volume of purchase mortgage applications declined for a second week but refinancing more than recovered from last week's 7 percent loss. MBA's Market Composite Index, a measure of mortgage loan application volume, increased 4.6 percent on a seasonally adjusted basis during the week ended October 2 and was 5 per... (read more) Almost 400,000 Delinquent Homeowners Have Better Options Tue, Oct 6, 2020 11:24AM The Urban Institute (UI) estimates that there are about 400,000 homeowners who have become "needlessly delinquent" as a result of the COVID-19 pandemic. UI analysts Michael Neal and Linda Goodman credit the Coronavirus Aid, Relief, and Economic Security (CARES) Act with providing "a much-needed lifeline" during the crisis, but conclude that there needs to be... (read more) July's Home Prices Increase by 5.5%, Breaking a Two-Year Record Tue, Oct 6, 2020 10:22AM Entry-level priced homes, which continue to be in short supply, are, helping to drive strong price gains. CoreLogic says home prices nationwide, including distressed sales, increased year over year by 5.5 percent in July 2020 and were up 1.2 percent compared to the previous month. The annual increase was the fastest in nearly two years. The company said the ... (read more) VOE, Valuation, Accounting CRA Eligibility Products; Training and Events Wed, Oct 7, 2020 9:32AM You have a couple workdays under your belt this week, so let’s take a one paragraph break from mortgage stuff. Pumpkin patches are here, and every parent worth their salt tells kids that unpurchased pumpkins grow into Christmas trees in two months. In between, Thanksgiving will be here before you know it, and with it, pumpkin pie. Even humble pumpkins ... (read more) Latest Video Fed is leaving room to adjust policy: Allianz's McKinney Treasury sells $35 billion in 10-year notes Fed: Path of rates will depend on evolution of the economic outlook Powell: More risk to economy from doing too little on stimulus than too muc... Around the Web CNBC As stimulus talks falter, the U.S. economy faces growth coming to a halt NAR - Realtor.com As Trump Says He's Abandoned Stimulus Talks, Renters and Landlords Face a Financial Cliff CNBC Fed releases minutes from meeting where it held rates steady and outlined inflation strategy Calculated Risk Blog Update: Framing Lumber Prices Up 65% Year-over-year CNBC Less than 11% of people with federal student debt are repaying their loans during Covid-19 news.google.com Currencies Tumble as Trump Pulls Plug on Stimulus Talks news.google.com Fed Chair Powell calls for more help from Congress, says there's a low risk of 'overdoing it' CNBC Trump says he's calling off stimulus negotiations with Democrats 'until after the election' Redfin Redfin Survey: 22% of Homebuyers and Sellers Say the Presidential Election Is Impacting Their Plans NPR Fed's Jerome Powell Calls For More Economic Aid, Warning 'Weakness Feeds On Weakness' Calculated Risk Blog Reis: Office, Mall and Apartment Vacancy Rates Increased in Q3 Calculated Risk Blog Las Vegas Real Estate in September: Sales up 16% YoY, Inventory down 31% YoY Calculated Risk Blog Fed Chair Powell: Recent Economic Developments and the Challenges Ahead

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.