Mortgage rates were mostly steady today for most lenders. Those who changed generally did so in a friendly direction. Either way, that means today's rates remain in line with all-time lows. It also makes them markedly lower than last week. Despite that fact, you're more likely to see news about rates rising just a bit week-over-week. Who's telling you the truth? To be fair, no one is lying to you. It's just a question of timing and data sources. Freddie Mac publishes a weekly rate survey every Thursday morning. It's widely relied-upon as source material for all manner of media outlets. The issue is that it is based primarily on responses received on Monday and Tuesday. The 2nd half of the week isn't even counted. That means Freddie's data missed the week's best improvement yesterday afternoon

May 21, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are Actually Lower This Week Mortgage rates were mostly steady today for most lenders. Those who changed generally did so in a friendly direction. Either way, that means today's rates remain in line with all-time lows. It also makes them markedly lower than last week. Despite th... (read more) Housing News Existing Sales hit 10-Year Low, But Low Rates are a Silver Lining Existing home sales fell hard in April, the numbers coming in about where analysts expected them but breaking a nine-month string of annual gains. The National Association of Realtors® said total sales of single-family homes, townhouses, condos, ... (read more) Housing News Refis Dominated April Closings as Lenders Tackle Constant Changes Interest rates on closed loans continued to decline in April, falling from 3.65 percent in March to 3.48 percent according to the Origination Insight Report from Ellie Mae. That prompted another surge in refinancing , with that portion of origination... (read more) MBS Commentary MBS Live Day Ahead: Two Potential Targets For Today's Potential Bond Rally Treasuries held onto yesterday's gains in the overnight session and are starting the day in slightly better shape (MBS are roughly unchanged).  This means that 10yr yields continue adhering to a technical pattern we've been following for the pas... (read more) Housing News FHFA Pushes Forward With Fannie/Freddie Conservatorship Exit Maybe all of the talk about ending the GSE's long term incarceration in conservatorship is more than talk this time. Earlier this week both Freddie Mac and Fannie Mae announced they would be issuing Requests for Proposals (RFPs) seeking to hire finan... (read more) Rob Chrisman Recruiting, LO Jobs; Appraisal, QC Products; Loan Processing is Changing: Beeline/SnapFi Some lenders and vendors are easing back into offices, or at least planning voluntary phases. (Hmmm… wear a mask and have 2 per elevator, or work from home with no commute and wear sweats. Let me think.) Instead of thermal scanners in every of... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.79% +0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.79% +0.04 0.00 15 Yr. Fixed 5.99% +0.01 0.00 30 Yr. FHA 6.29% +0.02 0.00 30 Yr. Jumbo 6.89% +0.04 0.00 7/6 SOFR ARM 6.35% +0.03 0.00 30 Yr. VA 6.30% +0.01 0.00 Updates Daily - Last Update: 7/7 15 Yr. Fixed Rate 5.99% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.45 -0.03 Price / Yield Change MBS UMBS 5.5 99.44 -0.04 UMBS 6.0 101.29 -0.04 GNMA 5.5 99.68 -0.04 GNMA 6.0 101.23 -0.04 Pricing as of: 7/8 3:58AM EST 10 Year US Treasury 4.3933 +0.0119 Price / Yield Change US Treasury 2 YR Treasury 3.901 +0.002 5 YR Treasury 3.968 +0.011 7 YR Treasury 4.164 +0.011 10 YR Treasury 4.394 +0.013 30 YR Treasury 4.929 +0.013 Pricing as of: 7/8 3:58AM EST Latest Video Existing home sales post largest decline since 2010 Weekly jobless claims rose 2.44 million for week ending May 16 Fed considers new coronavirus relief actions Jeffrey Rosenberg on U.S. Treasurys Around the Web CNBC Georgia reopening has been 'a mixed bag,' Atlanta Fed President Bostic says Redfin Newly Built Homes Make Up Largest Share of Market Since at Least 2012 Calculated Risk Blog Comments on April Existing Home Sales Reuters Mnuchin sees U.S. economic bottom in second quarter, 'gigantic increase' fourth quarter Reuters Stocks slip on U.S.-China tensions; oil rises to 2-1/2-month high NAHB Eye on Housing Multifamily Builder and Developer Confidence Falls in First Quarter on COVID-19 Pandemic CNBC April home sales drop nearly 18%, while decline in inventory pushes prices to a record high Calculated Risk Blog Philly Fed Manufacturing firms reported "continued weakness" in May NAHB Eye on Housing Gains Expected for Single-Family Built-for-Rent Construction CNBC Weekly jobless claims rose 2.438 million, vs 2.4 million estimate NAR - Realtor.com How Low Will Mortgage Rates Go? They're Now Below 3 Percent If You Know Where To Look Calculated Risk Blog Black Knight: National Mortgage Delinquency Rate Increased Sharply in April, "Largest Single-Month Increase Ever Recorded" CNBC Treasury yields fall ahead of jobless claims data as global coronavirus cases spike

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