It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. News organizations and even some bond market strategists (sadly) rely on Freddie's weekly update for a sense of mortgage rate movement. That's why an overwhelming majority of the new mortgage rate articles on any given week come out on Thursdays. Unfortunately , the unified onslaught of news coverage adds unjustified credibility to what is at best stale information. This creates uncomfortable conversations for loan originators and their clients who ask why their recently quoted rate isn't any lower. After all, today's rates are at all-time lows, right?! Wrong... And that's not just a halfhearted "wrong" due to some technicality or tricky math. Today's rates are actually and unequivocally not even

September 11, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch No, Mortgage Rates Are Definitely Not Back to All-Time Lows! It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. News organizations and even some bond market strategists (sadly) rely on Freddie's weekly update for a sense of mortgage rate movement. That's why an overw... (read more) MBS Commentary MBS Live Day Ahead: Why Were MBS Almost a Quarter of a Point Weaker This Morning?! There's nothing quite like the visual (and visceral) impact of opening up MBS Live in the morning only to see a big drop in the blue line.  Today is one of those days.  For those who haven't gotten around to it yet, let's get it out of the ... (read more) Rob Chrisman Jumbo, 2nd Lien, MERS QC Audit Products; U.S. Economy Motoring Onward Plenty of people tell me that I should “head down to Clown Town.” I never know quite how to take that. But now we have Zoom Towns ,” and thank you to Carol K. for sending this along. And I am planning on living in one since… ... (read more) Housing News Consumers More Upbeat on Buying and Selling Despite Lower Price Expectations Fannie Mae says its Home Purchase Sentiment Index (HPSI) which, before a slight setback in July, had been rebounding strongly from its April COVID-19 related plunge, got back on track last month. The August index, based on responses to six questions ... (read more) Housing News Loan Originators Posted Record Profits in Q2 While servicing income was down, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks had a very profitable second quarter. They reported an average net gain of $4,548 on each loan they originated, up from a reported gain of... (read more) Housing News Mortgage Volume Bounced Back With Last Week's Lower Rates The volume of mortgage applications reversed direction last week, pulling out a small gain after three straight weeks of declines. The Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending September 4, was up ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% 0.00 0.00 15 Yr. Fixed 5.91% 0.00 0.00 30 Yr. FHA 6.19% -0.01 0.00 30 Yr. Jumbo 6.80% 0.00 0.00 7/6 SOFR ARM 6.29% -0.04 0.00 30 Yr. VA 6.20% -0.02 0.00 Updates Daily - Last Update: 7/1 15 Yr. Fixed Rate 5.91% +0.00% 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 99.91 -0.02 Price / Yield Change MBS UMBS 5.5 99.92 -0.01 UMBS 6.0 101.58 +0.00 GNMA 5.5 100.07 +0.01 GNMA 6.0 101.43 +0.03 Pricing as of: 7/1 9:50PM EST 10 Year US Treasury 4.2446 +0.0054 Price / Yield Change US Treasury 2 YR Treasury 3.768 -0.008 5 YR Treasury 3.830 -0.009 7 YR Treasury 4.015 +0.002 10 YR Treasury 4.241 +0.002 30 YR Treasury 4.765 -0.003 Pricing as of: 7/1 9:50PM EST Latest Video 19.3 million people could qualify for refinancing—Here's what to know about... August Consumer Price Index increased 0.4% Borrowers extend bailouts as foreclosure risks rise Here are the changing trends in the real estate market during the pandemic Around the Web Redfin Home Prices Up 13%, Biggest Increase Since 2013 CNBC Investors will look to the Fed to soothe the market next week, but that may be a tall order CNBC Hiring kicks off to fill hundreds of thousands of roles for the holiday shopping season Calculated Risk Blog Q3 GDP Forecasts Calculated Risk Blog Cleveland Fed: Key Measures Show Inflation increased Year-over-year in August CNBC Covid-19 mortgage bailouts decline slightly, but a new foreclosure crisis could be brewing CNBC Major wildfires tear through California, Oregon and Washington as death toll rises NAHB Eye on Housing Apartment Construction Took Longer in 2019 Calculated Risk Blog Early Look at 2021 Cost-Of-Living Adjustments and Maximum Contribution Base Calculated Risk Blog BLS: CPI increased 0.4% in August, Core CPI increased 0.4% CNBC Stocks are back in sell-off mode. Former Fed Chairman Alan Greenspan and two others on what could be next Calculated Risk Blog Houston Real Estate in August: Sales Up 7% YoY, Inventory Down 23% YoY CNBC At least 19 states start paying the extra $300 weekly unemployment benefit

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