You might think you know mortgage rates. You might make assumptions about where they'll go and what they'll do based on past precedent. For decades, you may have done a nearly flawless job of that simply by drawing the exceedingly logical conclusion that mortgage rates tend to behave a lot like other longer-term bonds. After all, bonds and mortgages are both loans. They're both fixed income investments. And to cap it all off, the average mortgage "becomes" a bond, in a manner of speaking, with its underlying cash flow being traded alongside the most quintessential bonds like 10yr Treasury Notes. That's why 10yr Treasury yields and mortgage rates move in the same direction at the same time with regularity that puts clocks to shame. So it's understandable that anyone familiar with this dynamic

December 8, 2020 Download our Mobile App: Download our Mobile App: Rob Chrisman Tech, MLO Jobs; Pooling, Retention, VOA, Comp Products; Training; Small Lenders, Broker Dealers, and Rule 19b Huh? Talk of a government shut down? Again? Are you the typical lender off to a record December, after setting records in November, October, September…? As attorney Brian Levy points out, “Mortgage bankers would be wise to skip the priva... (read more) Mortgage Rate Watch Mortgage Rates Living Their Own Life By Their Own Rules You might think you know mortgage rates. You might make assumptions about where they'll go and what they'll do based on past precedent. For decades, you may have done a nearly flawless job of that simply by drawing the exceedingly logical conclusion ... (read more) Housing News The Refi Boom is Keeping Elevated Delinquencies in Check While the rate of non-current loans remained sharply higher than a year ago, CoreLogic reports that serious delinquencies , loans more than 89 days past due, began to level off in September for the first time since the start of the pandemic. The comp... (read more) Housing News Tight Housing Supply, Soaring Prices, But Condos Are The Exception The pandemic keeps manifesting itself in the housing market in small but potentially significant ways and there was another data point in Black Knight's new Mortgage Monitor report. The report focuses on delinquencies, price increases, and the contin... (read more) Housing News Innovations in Home-Buying Process May be Fueling Pricing Frenzy A noted housing researcher has analyzed the current frenzy of home buying and the rapidly escalating prices since the country emerged from its short-lived spring pandemic shutdown. Issi Romem, Senior Director of Housing & Urban Economics at Zillo... (read more) MBS Commentary MBS Live Recap: Bond Watchers Clearly Can't Choose The Wine in Front of ______ Bond Watchers Clearly Can't Choose The Wine in Front of ______ There are quite a few potential justifications for the activity we saw in the bond market today, and for every one of them, there's a fairly comp... (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 5.5 100.03 +0.22 Price / Yield Change MBS UMBS 5.5 100.02 +0.21 UMBS 6.0 101.65 +0.14 GNMA 5.5 100.14 +0.15 GNMA 6.0 101.49 +0.13 Pricing as of: 6/30 5:50PM EST 10 Year US Treasury 4.2290 -0.0523 Price / Yield Change US Treasury 2 YR Treasury 3.725 -0.025 5 YR Treasury 3.799 -0.036 7 YR Treasury 3.992 -0.044 10 YR Treasury 4.230 -0.051 30 YR Treasury 4.778 -0.053 Pricing as of: 6/30 5:50PM EST Latest Video McConnell proposes basic aid package without provision on liability and add... The potential impact of the Main Street lending program's end The 9 a.m. Bond Report: December 8, 2020 House to vote on bill that will fund the government through Dec. 18, source... Around the Web CNBC Economic growth will be better than expected thanks to the resilient services sector, Goldman says Calculated Risk Blog Seattle Real Estate in November: Sales up 22% YoY, Inventory UP 27% YoY CNBC Wells Fargo CEO Scharf sees 'very quick recovery' for US economy in 2021 as vaccines are rolled out NPR Democrats And Some Republicans Push To Add Stimulus Checks To COVID-19 Relief Bill Calculated Risk Blog NMHC: Rent Payment Tracker Shows Households Paying Rent Decreased 7.8% YoY in Early December CNBC More than 42 million student loan borrowers don't have to resume payments until February NAHB Eye on Housing Where are the Largest Homes Built? Calculated Risk Blog Las Vegas Real Estate in November: Sales up 28% YoY, Inventory down 54% YoY CNBC Major mortgage servicer Nationstar agrees to pay over $90 million to settle claims it harmed homeowners following the Great Recession CNBC Borrowers looking to use Fed's Main Street lending program run into dead end CNBC Manhattan apartment seller takes $12 million loss on Billionaires' Row condo Calculated Risk Blog Leading Index for Commercial Real Estate Decreased in November news.google.com Readout from a Treasury Spokesperson on Secretary Mnuchin's Discussion with G7 Finance Ministers and Central Bank Governors

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