In the past 2 decades , there have been 6 months where mortgage rates rose at least 50 basis points. February 2021 was one of them. Moreover, it was one of only 2 of those months where rates rose without obvious provocation from a significant new, unexpected motivation (the last time that happened was December 2010. The other months were associated with 2013's taper tantrum, the 2016 presidential election, and the market dislocations in March 2020 as covid panic surged). In other words, it was a really bad month for rates--so bad, in fact, that it has increasingly made sense to look for some relief simply because things don't tend to stay that bad for that long. Of course, if there's an exception to how rapidly rates "usually" spike, it has every right to occur after rates have spent an unusually

March 3, 2021 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Finally Catching a Break In the past 2 decades , there have been 6 months where mortgage rates rose at least 50 basis points. February 2021 was one of them. Moreover, it was one of only 2 of those months where rates rose without obvious provocation from a significant new, un... (read more) MBS Commentary MBS Live Recap: MBS Outperform, But Bonds Fail To Confirm The Bounce MBS Outperform, But Bonds Fail To Confirm The Bounce Tuesday's gains increased odds that a friendly bounce was in the works, but overnight and AM weakness put an end to the optimism.  Frustratingly, ther... (read more) Housing News Refinance Volume Ramps Down on Rising Rates Mortgage application volume rose for the first time in four weeks during the week ended February 26, but it was only a marginal increase. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application v... (read more) Housing News With Protections Expiring, Millions are in Danger of Losing Their Home What happens to homeowners and landlords when the federal, state, and local protections put in place during the pandemic go away? The Consumer Financial Protection Bureau (CFPB) is warning that the answer is hanging in the balance. Moratoria on forec... (read more) Housing News Home Price Appreciation Broke an 8-Year Record in January CoreLogic says home prices in January were 10 percent higher than a year earlier. It was the first double digit increase in the company's Home Price Index (HPI) since November 2013 . The company had reported a 9.2 percent annual increase in December.... (read more) Rob Chrisman AE, MLO Jobs; Broker, Sales, VOE Tools; URLA and Processing News; More Talk of an Economic Recovery To listen to the audio version of today’s commentary with an interview with STRATMOR Group’s resident recovering accountant Jim Cameron on handy metrics for MLOs to be aware of, please click here . Income and revenue are certainly metrics... (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 5.5 100.07 +0.26 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:39PM EST 10 Year US Treasury 4.2246 -0.0567 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:39PM EST Latest Video Federal Reserve: Economic activity expanded modestly ISM services index misses expectations in February The 9am Bond Report - March 03, 2021 Mortgage application demand stalls as interest rates rise Around the Web Reuters Fed says U.S. economy got off to modest start in 2021 CFPB CFPB Proposes Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule Reuters U.S. Senate negotiates limits in Biden's $1.9 trillion COVID-19 bill before vote Brookings Institution Four lessons from a year of pandemic housing policies CNBC ECB could tweak its pandemic stimulus as bond yields surge, Germany's Weidmann says Calculated Risk Blog ISM Services Index decreased to 55.3% in February zerohedge.com JPM Now Expects The US To Add 675,000 Jobs Every Month Yahoo News ECB Said to See No Need for Drastic Action to Rein In Yields CNBC Private payrolls growth well short of expectations for February, ADP says Reuters World stocks gain as bond yields steady Reuters Fed officials emphasize policy 'patience' as outlook improves CNBC Guggenheim's Minerd says don't count on rising yields, believes U.S. could even see negative rates Reuters Analysis: Fixed-income markets wary of Fed decision on bank capital relief

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