Here's The Only Reason Mortgage Rates Have Moved Lower Recently  "Because they were so much higher than they should have been in March and April..."  Seriously, that's the reason mortgage rates have been able to move lower even as Treasury yields and MBS prices suggest moderately higher rates.  We discuss this in greater detail in the video and in the Day Ahead. Econ Data / Events 11:30-11:50 AM (ET) -  Fed 30yr UMBS Buying    Market Movement Recap 08:20 AM Treasuries were stronger in Asia but yields moved higher during European hours.  Equities markets at home and abroad generally followed the same pattern (i.e. prices were lower in Asia and higher in Europe).  MBS are starting the day an eighth of a point weaker. 12:38 PM For the 2nd day in a row, the close of European markets is creating some small-scale volatility in the US.  This time, it's in the other direction.  Treasury yields are moving higher and MBS are back in line with the morning's lows (down about an eighth of a point on the day). 03:05 PM After the last entry, bonds weakened just a bit more before bouncing.  MBS have made up almost half of those losses, but are still down an eighth of a point from the morning's highs.  10yr yields are up 1.3bps on the day at .68%.  Lots of pressure from corporate bond issuance today (here's how that works).

June 2, 2020 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Here's The Only Reason Mortgage Rates Have Moved Lower Recently Here's The Only Reason Mortgage Rates Have Moved Lower Recently  "Because they were so much higher than they should have been in March and April..."  Seriously, that's the reason mortgage rates have... (read more) Mortgage Rate Watch Mortgage Rates Up or Down, Depending on Lender Mortgage rates were mixed today with some lenders improving and others moving higher. This isn't so much a factor of anything that happened today as much as it is about what lenders did yesterday. Specifically, the bond market (which underlies rate m... (read more) Housing News CoreLogic Expects 2021 to see First Home Price Decline in 9 Years CoreLogic's report on April home prices, the first for that month, says that despite fears that home prices would "bottom out like they did in the Great Recession," they continued to accelerate reaching their highest annual growth since August 2018. ... (read more) Rob Chrisman LO Jobs; CRM, Broker, eClosing Products; Events; Servicing Tactics Continue to Impact Market Curfews and civil unrest have replaced COVID in the news. Meanwhile, investors are watching record low debt issuance yields from companies like Amazon and Costco (1.50-1.62 percent 10-year notes, lowering their cost of capital dramatically). Low rate... (read more) Housing News April Construction Spending Still Besting 2019 Numbers Overall spending on construction fell in April, down 2.9 percent to a seasonally adjusted annual rate of $1.346 trillion from 1.387 trillion. This still left the rate 3.0 percent higher than it was in April 2019. On a non-adjusted basis, spending was... (read more) Housing News Builder Incentives Kept April Home Sales Strong As was reported last week, new home sales in April were much, much better than expected. There may or may not be a cause and effect going on here, but two recent posts in the National Association of Home Builders' (NAHB's) Eye on Housing blog indicat... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.85% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.85% +0.02 0.00 15 Yr. Fixed 6.07% +0.04 0.00 30 Yr. FHA 6.40% +0.03 0.00 30 Yr. Jumbo 6.92% +0.02 0.00 7/6 SOFR ARM 6.25% -0.02 0.00 30 Yr. VA 6.41% +0.02 0.00 Updates Daily - Last Update: 7/15 15 Yr. Fixed Rate 6.07% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 98.92 -0.25 Price / Yield Change MBS UMBS 5.5 98.92 -0.25 UMBS 6.0 100.96 -0.15 GNMA 5.5 99.36 -0.18 GNMA 6.0 101.16 -0.06 Pricing as of: 7/15 6:55PM EST 10 Year US Treasury 4.4843 +0.0490 Price / Yield Change US Treasury 2 YR Treasury 3.949 +0.040 5 YR Treasury 4.040 +0.051 7 YR Treasury 4.251 +0.057 10 YR Treasury 4.484 +0.049 30 YR Treasury 5.025 +0.046 Pricing as of: 7/15 6:55PM EST Latest Video First annual home value drop in nine years predicted Redfin CEO: People are refiguring where they want to live How the stimulus programs failed Americans, according to Joseph Stiglitz Central banks are in a lose-lose-lose situation, says Allianz's Mohamed El-... Around the Web NAR - Realtor.com People Rent By-the-Hour Spaces to Escape Loved Ones, Homes During Lockdown CNBC Wells Fargo, worried about defaults, stops making loans to most independent car dealerships Reuters S&P 500, Dow scale fresh three-month peaks Calculated Risk Blog Update: Real Estate Agent Boom and Bust CNBC Treasury slaps fresh sanctions on entities supporting Venezuela's oil sector and Maduro regime NAHB Eye on Housing HBGI: Increased Home Building in Lower-Density Markets Ahead CNBC GDP is now projected to fall nearly 53% in the second quarter, according to a Fed gauge Reuters Exclusive: U.S. small business program handed out virus aid to many borrowers twice Calculated Risk Blog CoreLogic: House Prices up 5.4% Year-over-year in April CNBC That $600 in extra unemployment benefits is likely going away. Here's what could take its place Reuters U.S. stocks gain as signs of recovery offset protests, economic worries Reuters 'Lemon' or not, Trump stuck with Phase 1 China trade deal for now Calculated Risk Blog Zillow Case-Shiller April Forecast: Still Showing Increasing YoY Price Gains

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