Differences Between Previous and Current FOMC Statements

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Differences Between Previous and Current FOMC Statements

Posted to: MBS Commentary
Wednesday, July 31, 2019 2:03 PM

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Information received since the Federal Open Market Committee met in MayJune indicates that the labor market remains strong and that economic activity ishas been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although growth of household spending appearshas to have picked up from earlier in the year, indicatorsgrowth of business fixed investment havehas been soft. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of…

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Freddie Mac Sees Low Rates Extending Through 2020

Freddie Mac Sees Low Rates Extending Through 2020

Posted to: MND NewsWire
Wednesday, July 31, 2019 10:28 AM

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The housing market has been looking slightly better over the last few month and Freddie Mac July economic report reflects that fact. They also maintain a fairly rosy picture of the economy as a whole. They note that the 30-year fixed-rate mortgages (FRM) dipped below 4.0 percent at the end of May and has remained there “amid concerns over trade disputes, a possible economic slowdown, and market anticipation of a Federal Reserve interest rate cut.” This has caused a spike in mortgage applications for both purchase and refinancing and they predict that low rates, along with a thriving labor market, will help sustain the housing market, not just short term, but for at least the next year and a half.

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MBS Day Ahead: The Fed Rate Cut Has Basically Already Happened

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MBS Day Ahead: The Fed Rate Cut Has Basically Already Happened

Posted to: MBS Commentary
Wednesday, July 31, 2019 8:54 AM

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In the day just passed, bonds put in one more day of slow, illiquid summertime trading. Granted, volumes were slightly better than the previous session, but the previous session saw the 2nd lightest volume in more than 3 months. The morning’s economic data brought additional apparent volatility. This was especially evident right after the big beat in Consumer Confidence at 10am, but all of that volatility occurred well within an EXTREMELY narrow range.

In the day ahead, the Fed Announcement at 2pm is clearly the headliner although the morning’s economic data could put…

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CRM, Broker, Sales, Rental Products; Conventional Conforming Trends

CRM, Broker, Sales, Rental Products; Conventional Conforming Trends

Posted to: Pipeline Press
Wednesday, July 31, 2019 7:24 AM

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Large investors often shy away from monies that are not in the mainstream banking sector. (Accounts in cryptocurrency jump to mind.) Can you blame them? But plenty of people want to use that money to buy houses and lower the vacancy rate. In Census Bureau news, as if we don’t have enough stats in our lives, the 2018 Housing Vacancy Survey Annual Statistics was released providing vacancy rates, homeownership rates and characteristics of units available for occupancy for the United States, regions, states and the 75 largest metropolitan statistical areas. Homeownership rates were tabulated by age of householder for the United States and regions, and by race/ethnicity of householder and by family status for the United States, with estimates of the total housing inventory and percentage distributions of vacant for-rent and vacant for-sale-only units for the United States and regions.

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Mortgage Application Volume Falls for Fifth Consecutive Week

Mortgage Application Volume Falls for Fifth Consecutive Week

Posted to: MND NewsWire
Wednesday, July 31, 2019 4:48 AM

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Mortgage application activity declined for the fifth consecutive period during the week ended July 26. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 1.4 percent on a seasonally adjusted basis compared to the previous week and was down 1 percent on an unadjusted basis. The Purchase Index was also down, falling by three percent on both a seasonally adjusted and an unadjusted basis. It remained, however, 6 percent higher than during the same week in 2018. Refinancing still showed a little bit of life. That index eked out a gain of 0.1 percent compared to the week ended July 19 and was 84 percent higher than a year earlier.

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MBS RECAP: Bonds Try to be Convincing, But Not Very Well

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MBS RECAP: Bonds Try to be Convincing, But Not Very Well

Posted to: MBS Commentary
Tuesday, July 30, 2019 5:09 PM

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Today had all the trappings of a return to some semblance of volume and volatility for what has otherwise been sleepy summertime bond trading patterns–at least if you were only looking at a 1 or 2 day chart. Zoom out to any wider frame of reference and today quickly gets lost in the ultra narrow range this week, which is simply a slightly tamer version of last week’s ultra narrow, ultra sideways range.

All of this “sideways narrowness” is building toward something. The market won’t ever tell us what that something is with 100% certainty, but in the short term, we know what…

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Daily Newsletter: Stellar Home Sales Report; Home Price Resiliency; Rates Calm Before Storm; What Does it Take?

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30 Year Fixed
3.88% +0.01
15 Year Fixed
3.57% +0.01
10YR Treasury
2.06% -0.0036
FNMA 30YR 3.5
102.31 0.00
FNMA 15YR 2.5
101.86 -0.02
View Today’s Rates
Tuesday July 30, 2019
MND NewsWire – 10:50AM
Stellar Sales Report Reinforces Housing’s Strong Summer
Pending home sales put in an especially strong performance in June , the second consecutive positive report as well as the fourth in five months. The National Association of Realtors® …
MND NewsWire – 10:07AM
Although Gains are Slowing, Prices Show "Resiliency"
The rate of appreciation in home prices slipped again in May according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The metric, which covers all nine U.S. census …
Mortgage Rate Watch – 4:48PM
Mortgage Rates Stay Calm Before Tomorrow’s (Potential) Storm
Mortgage rates haven’t moved much this week, or last week, or the week before that. In fact, for the average prospective borrower, there haven’t been any major changes since first making …
MBS Commentary – 10:52AM
MBS Day Ahead: What Does it Take to Move Markets These Days?
In the day just passed, bonds drifted through one of those characteristic summertime Mondays without any meaningful liquidity, volume, or volatility. Bonds remained inside their prevailing …

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More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.88% +0.01
15 Yr FRM 3.57% +0.01
FHA 30 Year Fixed 3.50% +0.00
Jumbo 30 Year Fixed 3.91% +0.01
5/1 Yr ARM 3.69% +0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.79% 1.21 -0.12
30 Yr. Fixed 4.39% 1.12 -0.22
MBA ** hdr_arrow.png
30 Yr. Fixed 4.12% 0.38 +0.08
15 Yr. Fixed 3.48% 0.32 +0.06
30 Yr. Jumbo 4.07% 0.21 +0.04
30 Yr. FHA 4.01% 0.28 +0.04
5/1 ARM 3.58% 0.27 +0.02
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.75% 0.50 -0.06
15 Yr. Fixed 3.18% 0.50 -0.05
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.47% 0.40 -0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.77 +0.03
30YR FNMA 3.5 102.31 0.00
30YR GNMA 3.0 102.03 +0.02
30YR GNMA 3.5 103.47 +0.02
15YR FNMA 3.0 101.86 -0.02
15YR FNMA 2.5 100.44 -0.03
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
TR_Eikon_Email.png
2 YR 1.8479% -0.0080
5 YR 1.8420% -0.0016
10 YR 2.0597% -0.0036
30 YR 2.5805% -0.0109
Prices as of: 7/30/2019 5:05PM EST

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
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