Mortgage rates hit all-time lows on Friday, based on the average rate for a top tier conventional 30yr fixed loan scenario. At that time, I raised the question as to whether that was really "news" considering we were already in line with all-time lows on Thursday and that rates have generally been pushing into an all-time low range during the coronavirus saga. In fact, as far as bond markets are concerned (and they're typically all that matters), we should have seen 10-20 days of new all-time lows so far in 2020. It's only due to the COVID-related mortgage market effects that mortgage rates have been on a delayed timeline relative to the broader bond market. So can we rest assured that rates will continue to press into all-time lows in a gradual manner? Actually, no... not if today is any indication

May 19, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Will Have to Wait to Set More Records Mortgage rates hit all-time lows on Friday, based on the average rate for a top tier conventional 30yr fixed loan scenario. At that time, I raised the question as to whether that was really "news" considering we were already in line with all-time low... (read more) Housing News Borrowers in Forbearance Can Still Get a Mortgage, Probably... Homeowners who have been granted forbearance from making full payments on their GSE guaranteed loans during the COVID-19 crisis may still be able to refinance or buy a new home when the crisis ends. The Federal Housing Finance Agency (FHFA) has annou... (read more) MBS Commentary MBS Live Day Ahead: Trend is Not Our Friend For Now Yesterday was pretty rough for bond markets as 10yr yields rose the better part of 10bps in fairly short order.  It was the worst day of selling in 2 months and it took us to the highest yields since mid April.  To make matters worse, it ... (read more) Housing News April's Harsh Residential Construction Numbers Meet Expectations The April residential construction numbers are, of course, horrible. But they aren't out of line with expectations, and builders did continue to plan for expansion and to build. The U.S. Census Bureau says that construction permits fell 20.8 percent ... (read more) Rob Chrisman Correspondent, Audit, Construction Products; Lots of Webinars This Week; September's State Conferences! It’s one thing to have confusion & bickering over whose turn it is to put the Scrabble tiles away face down after the game. It’s a whole different level when it comes to forbearance. As STRATMOR’s Seth Sprague puts it, “Th... (read more) Housing News Fannie/Freddie Seek Financial Advisor to Help Them Exit Conservatorship Fannie Mae and Freddie Mac (the GSEs) have taken what each is calling an important step toward ending their 12 years of operating under conservatorship. Each has announced they are about to issue a request for proposals (RFP) to secure a financial ad... (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 6.0 101.66 +0.15 GNMA 5.5 100.08 +0.09 GNMA 6.0 101.48 +0.12 Pricing as of: 6/30 5:40PM EST 10 Year US Treasury 4.2290 -0.0523 Price / Yield Change US Treasury 2 YR Treasury 3.726 -0.024 5 YR Treasury 3.800 -0.035 7 YR Treasury 3.993 -0.043 10 YR Treasury 4.233 -0.048 30 YR Treasury 4.782 -0.049 Pricing as of: 6/30 5:40PM EST Latest Video Boston Fed President Rosengren says reopening may be 'premature' Goldman Sachs' Hatzius on why he's not ruling out negative interest rates Congressional Budget Office projects GDP will decline by 38% in second quar... How the Fed's Jerome Powell and Treasury's Steve Mnuchin defended relief pr... Around the Web NAHB Eye on Housing Small Gain for Custom Home Building During 1Q20 Calculated Risk Blog Merrill: "Most of the slowdown occurred due to voluntary social distancing rather than lockdown policies" NPR Senators Clash Over How Soon To Reopen The Economy Calculated Risk Blog Sacramento Housing in April: Sales decline 32% YoY, Active Inventory down 15% YoY Reuters Powell, Mnuchin face Senate grilling on U.S. coronavirus response CNBC Most real estate trusts are still getting their rent, except in the retail sector Reuters Trump wants 7.6% payroll tax cut to help staunch coronavirus economic pain: Kudlow Calculated Risk Blog Housing Starts decreased to 891 Thousand Annual Rate in April CNBC Unemployment is nearing Great Depression levels. Here's how the eras are similar and different Reuters Powell, Mnuchin to face Senate grilling on U.S. coronavirus response FHFA FHFA Announces Refinance and Home Purchase Eligibility for Borrowers in Forbearance Freddie Mac Freddie Update on Eligibility for Homeowners in Forbearance Fannie Mae Fannie Mae's Update on Eligibility For Those Affected by Coronavirus

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