After falling an aggregate of 29.5 points in March and April, Fannie Mae says its Home Purchase Sentiment Index (HPSI) has begun to recover. The Index rose 4.5 points in May to 67.5 from an all-time survey low in April. Four of the six index components gained ground. Year over year, the HPSI is down 24.5 points. Consumers reported a somewhat more optimistic view of homebuying conditions and, to a lesser extent home-selling conditions, in their responses to the National Housing Survey upon which the index is based. Moreover, fewer consumers reported expectations that mortgage rates will go up over the next 12 months. "Although the HPSI's precipitous declines of March and April did not continue in May, Americans' financial, economic, and housing market concerns remain substantially elevated compared

June 9, 2020 Download our Mobile App: Download our Mobile App: Housing News May Homebuying Sentiment Shows Signs of Recovery After falling an aggregate of 29.5 points in March and April, Fannie Mae says its Home Purchase Sentiment Index (HPSI) has begun to recover. The Index rose 4.5 points in May to 67.5 from an all-time survey low in April. Four of the six index componen... (read more) Mortgage Rate Watch Mortgage Rates Starting Strong This Week After moving higher at a fairly quick pace last by last Friday, mortgage rates are off to a better start this week. Rates remain noticeably higher versus the best recent levels, seen on June 1st and 2nd, but the average lender offered slightly lower ... (read more) Rob Chrisman Marketing, DPA, Underwriting, Pricing Products; Wholesaler Changes Big picture, in case you haven’t been paying attention, the National Bureau of Economic Research confirmed that the U.S. economy has slowed: The economy hit its peak in February and has since fallen into a downturn as the unforeseen pandemic ca... (read more) Housing News Loan Performance Showed Only Minimal Stress in March The strength of the housing industry at the end of 2019 and beginning of 2020 served, to a certain extent, as a buffer as the COVID-19 pandemic began to hit in March. However, CoreLogic says that there were still some signs that month that loan perfo... (read more) Housing News Black Knight Takes a Close Look at April's Historic Delinquency Rate Black Knight says that only three months after the national delinquency rate hit a record low, falling 1.5 percentage point below its pre-Great Recession average in January, it skyrocketed to 6.45 percent. This is a 3.1 percent change in April alone,... (read more) MBS Commentary MBS Live Recap: Bond Rally or a Token Bounce After Last Week's Rout? Bond Rally or a Token Bounce After Last Week's Rout? Last week saw rates rise at the fastest pace in months in an apparent lift-off from an extended stint near all-time lows.  Now the current week looks ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +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 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/5 8:15PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/5 8:15PM EST Latest Video U.S. economy entered recession in February 2020—Here's the breakdown April JOLTS report comes in at 5 million, vs. 5.75 million expected Focus on alternative data over jobs numbers, says economist Main Street optimism ticks up as pent up demand lifts outlook Around the Web Reuters Explainer: What to look for in the Fed's U.S. economic outlook NAHB Eye on Housing Backward-Looking April Construction Data: Layoffs Surged Calculated Risk Blog NMHC: Rent Payment Tracker Finds Most People Paying Rent in June Calculated Risk Blog BLS: Job Openings decreased to 5.0 Million in April Reuters Wall Street set to fall as rally pauses ahead of Fed meeting Reuters EU trade chief Hogan says he is considering bid to become WTO chief CNBC While 21 million Americans were unemployed as of May, long-term joblessness hasn't seen an uptick CNBC Big jobs gain 'has bought the Fed some time,' but more help eventually will be needed Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Increases to 8.53%" of Portfolio Volume Reuters Nasdaq rises to record again on economic recovery hopes Reuters U.S. economy entered recession in February, business cycle arbiter says NAHB Eye on Housing April Consumer Credit Indicates Recovery Challenges NAR - Realtor.com Cleveland Is a House-Flipping Hot Spot, and Covid Is Helping

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