Daily Newsletter: Forbearances Slow to a Trickle; Mortgage Rates Stage Nice Comeback, But Uncertainty Remains

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30 Year Fixed 3.05% -0.05 15 Year Fixed 2.70% -0.04 10YR Treasury 0.65% -0.0440 FNMA 30YR 3.5 105.50 +0.08 FNMA 15YR 2.5 105.36 +0.02 View Today’s Rates

Friday May 29, 2020 Mortgage Rate Watch – 5:50PM Mortgage Rates Stage Nice Comeback, But Uncertainty Remains Mortgage rates staged a nice little comeback today, moving back toward the all-time lows seen late last week. Mortgage rates are determined primarily by the bond market, and the bond … MND NewsWire – 8:36AM April’s Forbearance Requests Slow to a Relative Trickle Black Knight says its research is showing that the numbers of new forbearance plans for homeowners financially affected by the COVID-19 pandemic have slowed to a trickle compared to … MBS Commentary – 8:52AM MBS Day Ahead: Bonds Look to Challenge Trend With Powell on Deck The next Fed announcement is 1.5 weeks away and so it’s time to start ramping up expectations for the details of the Fed’s official QE announcement. But wait… Aren’t they buying a … Portfolio Monitoring, Non-QM, Corresp., Broker Products; Customer Satisfaction Survey Pending Sales Rout May Signal a Bounce for Housing – Realtors Latest Video Lending Tree Chief Economist: If there’s a significant rise in unemployment, we may see more housing finance programs Why homebuilders are winning the Covid-19 race to recovery Pandemic squeezes already low housing supply More News from ‘Around the Web’ CNBC – 4:49PM House bill gives small businesses more time to use PPP loans and lets them spend less on payroll Calculated Risk Blog – 4:35PM Fannie Mae: Mortgage Serious Delinquency Rate Increased in April CNBC – 3:04PM Too little or too much money? No payment at all? Here’s what the IRS has said about inaccurate stimulus payments http://www.realtor.com – 2:10PM Amid the Covid-19 Crisis, Single-Family Homes May Be the Smart Investment http://www.jchs.harvard.edu – 1:36PM Housing Could Help Lead the Post-Covid Economic Recovery eyeonhousing.org – 11:49AM April Personal Income Up 10.5% Due to CARES CNBC – 11:39AM Powell says the Fed is ‘days away’ from making the first loans in the Main Street lending facility Calculated Risk Blog – 10:29AM Real Personal Income less Transfer Payments eyeonhousing.org – 8:57AM Most Vulnerable Housing Markets Calculated Risk Blog – 8:45AM Personal Income increased 10.5% in April, Spending decreased 13.6%, Core PCE decreased 0.4% Reuters – 8:04AM With ‘Main Street’ in view, Fed weighs risks of job, productivity shocks CNBC – 8:04AM Corporations raise $1 trillion in the bond market after Fed backstop, double the pace of last year Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.05% -0.05 15 Yr FRM 2.70% -0.04 FHA 30 Year Fixed 2.68% +0.00 Jumbo 30 Year Fixed 4.30% +0.10 5/1 Yr ARM 3.32% -0.03 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 0.00% 0.00 +0.00 30 Yr. Fixed 0.00% 0.00 +0.00 MBA ** 30 Yr. Fixed 3.42% 0.33 +0.01 15 Yr. Fixed 2.87% 0.30 -0.01 30 Yr. Jumbo 3.71% 0.29 +0.05 30 Yr. FHA 3.41% 0.30 -0.05 5/1 ARM 3.08% 0.01 -0.11 Freddie Mac ** 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 3.15% 0.80 -0.09 15 Yr. Fixed 2.62% 0.70 -0.08 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.13% 0.40 -0.04 Secondary Markets MBS Price Change 30YR UMBS 3.0 105.17 +0.08 30YR UMBS 3.5 105.50 +0.08 30YR GNMA 3.0 105.69 +0.16 30YR GNMA 3.5 105.81 +0.81 15YR FNMA 3.0 105.36 +0.02 15YR FNMA 2.5 104.61 +0.09 Treasuries 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 2 YR 0.1642% -0.0098 5 YR 0.3036% -0.0363 10 YR 0.6526% -0.0440 30 YR 1.4110% -0.0515 Prices as of: 5/29/2020 5:05PM EST

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. © 2020 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Rate Update: Mortgage Rates Stage Nice Comeback, But Uncertainty Remains

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30 Year Fixed 3.05% -0.05 15 Year Fixed 2.70% -0.04 10YR Treasury 0.65% -0.0440 FNMA 30YR 3.5 105.50 +0.08 FNMA 15YR 2.5 105.36 +0.02 View Today’s Rates

Mortgage Rates Stage Nice Comeback, But Uncertainty Remains May 29, 2020 Mortgage rates staged a nice little comeback today, moving back toward the all-time lows seen late last week. Mortgage rates are determined primarily by the bond market, and the bond market benefited from strong demand at the end of the month. Higher demand means higher prices, and higher bond prices equate to lower rates. There has been some concern that the overall bond market (which includes mortgage-specific bonds as well as benchmarks like US Treasuries) was gradually moving toward higher rates in the past few weeks. As of today, however, 10yr Treasury yields (the most quintessential benchmark for longer-term interest rate momentum) improved for a third straight day. This went a long way toward arguing against the recent, gentle uptrend in rates but fell short of suggesting a big drop moving forward. Loan Originator Perspective You must remain cautious in the current rate environment, so if you are happy with current terms lock in today. Not a fan of locking on Friday, and with MBS in the green, I think floating over the weekend might be worth the risk. As always, float at your own risk. –Victor Burek, Churchill Mortgage Ongoing Reminder on Forbearance Coronavirus has created unprecedented challenges for people and industries. For homeowners facing a big reduction in income due to coronavirus-related hardship, a forbearance can make excellent sense. But for those who have the capacity to continue making mortgage payments, there are downsides to consider. Forbearance itself does not hurt your credit score, but it does show up on your credit report. This will affect your ability to qualify for a loan in the present and near future. It can also result in your other creditors decreasing your available credit balances. This has the unintended effect of increasing your ratio of debt to available credit which is a key component of credit scoring models. Thus, even though forbearance itself is not hurting your credit, it can indirectly lower your credit score and it will absolutely impact your mortgage creditworthiness in the short term. 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Co-branding this Report Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads. Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.05% -0.05 15 Yr FRM 2.70% -0.04 FHA 30 Year Fixed 2.68% +0.00 Jumbo 30 Year Fixed 4.30% +0.10 5/1 Yr ARM 3.32% -0.03 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 0.00% 0.00 +0.00 30 Yr. Fixed 0.00% 0.00 +0.00 MBA ** 30 Yr. Fixed 3.42% 0.33 +0.01 15 Yr. Fixed 2.87% 0.30 -0.01 30 Yr. Jumbo 3.71% 0.29 +0.05 30 Yr. FHA 3.41% 0.30 -0.05 5/1 ARM 3.08% 0.01 -0.11 Freddie Mac ** 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 3.15% 0.80 -0.09 15 Yr. Fixed 2.62% 0.70 -0.08 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.13% 0.40 -0.04 Secondary Markets MBS Price Change 30YR UMBS 3.0 105.17 +0.08 30YR UMBS 3.5 105.50 +0.08 30YR GNMA 3.0 105.69 +0.16 30YR GNMA 3.5 105.81 +0.81 15YR FNMA 3.0 105.36 +0.02 15YR FNMA 2.5 104.61 +0.09 Treasuries 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 2 YR 0.1642% -0.0098 5 YR 0.3036% -0.0363 10 YR 0.6526% -0.0440 30 YR 1.4110% -0.0515 Prices as of: 5/29/2020 5:05PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2020 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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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 presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Portfolio Monitoring, Non-QM, Corresp., Broker Products; Customer Satisfaction Survey

Posted to: Pipeline Press
Friday, May 29, 2020 8:29 AM

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Here’s something you can do for your friends, relatives, and borrowers, especially older ones: Remind them that the current batch of coronavirus relief payments are coming as VISA debit cards. Texas’ Larry C. reminded me that we’ve all unexpectedly received cards in the mail that we didn’t order and cut them up before throwing them in the garbage. Don’t do it this time! 2020 has been quite the year for unexpected things. In March, as huge fundings hit the secondary markets, REITs withdrew, and the Fed stepped in as a big buyer. But too big. Things balanced out, but when the CARES Act hit with its forbearance plan for anyone with government-backed mortgage, it “broadened the denominator” and thrust making the advances onto the servicer. That created a potential liquidity crisis for most non-bank servicers, many of whom grew out of 2008 crisis. Warehouse banks grew nervous about financial condition of non-banks with servicers and concerns about counterparty risk of all sorts increased. And all in the last two and half months! Economists are really great at predicting the past. But the mortgage market has quieted down and lenders can look forward to low rates well into the future!

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS Day Ahead: Bonds Look to Challenge Trend With Powell on Deck
• MND NewsWire: April’s Forbearance Requests Slow to a Relative Trickle
• Mortgage Rate Watch: Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)
• MND NewsWire: Pending Sales Rout May Signal a Bounce for Housing – Realtors
• MBS Commentary: MBS Day Ahead: Why We’re Watching Treasuries

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MBS Day Ahead: Bonds Look to Challenge Trend With Powell on Deck

Before you read it here, it was on MBS Live.

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Posted to: MBS Commentary
Friday, May 29, 2020 8:52 AM

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The next Fed announcement is 1.5 weeks away and so it’s time to start ramping up expectations for the details of the Fed’s official QE announcement. But wait… Aren’t they buying a ton of bonds already?

Indeed, the Fed continues purchasing both MBS and Treasuries in relatively significant quantities every day, but they do so under “emergency measures.” Markets expect the Fed to make it official in this upcoming meeting. Why is that?

The Fed is committed to transparency. For anyone who tuned in very much to the pre-Bernanke Fed communications, this…

(READ THE FULL POST)

More from MND:

• MND NewsWire: April’s Forbearance Requests Slow to a Relative Trickle
• Mortgage Rate Watch: Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)
• MND NewsWire: Pending Sales Rout May Signal a Bounce for Housing – Realtors
• MBS Commentary: MBS Day Ahead: Why We’re Watching Treasuries
• Pipeline Press: Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/mortgage_rates/blog/945835.aspx

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April’s Forbearance Requests Slow to a Relative Trickle

Posted to: MND NewsWire
Friday, May 29, 2020 8:28 AM

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Black Knight says its research is showing that the numbers of new forbearance plans for homeowners financially affected by the COVID-19 pandemic have slowed to a trickle compared to the tidal wave in early April. Only 7,000 new plans were put in place during the week ended May 26 compared to a 325,000-net increase in the first week of May and 1.4 million in the first week of April. The most recent increase brings the total forbearance plans to 4.76 million or 9.0 percent of all active mortgages. These loans represent more than $1 trillion in unpaid principal balances. The largest number of loans in forbearance plans, 1.99 million, are those serviced for the GSEs Fannie Mae and Freddie Mac.

(READ THE FULL POST)

More from MND:

• Mortgage Rate Watch: Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)
• MND NewsWire: Pending Sales Rout May Signal a Bounce for Housing – Realtors
• MBS Commentary: MBS Day Ahead: Why We’re Watching Treasuries
• Pipeline Press: Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop
• Mortgage Rate Watch: Mortgage Rates Hold Steady

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Daily Newsletter: Pending Sales Rout May Signal a Bounce for Housing – Realtors; All-Time Low Rates Already in Rearview

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30 Year Fixed 3.10% +0.02 15 Year Fixed 2.74% +0.04 10YR Treasury 0.69% +0.0000 FNMA 30YR 3.5 105.42 -0.02 FNMA 15YR 2.5 105.34 +0.02 View Today’s Rates

Thursday May 28, 2020 MND NewsWire – 10:46AM Pending Sales Rout May Signal a Bounce for Housing – Realtors Pending home sales cratered again in April, marking two straight months of declines that exceeded 20 percent. The National Association of Realtors® (NAR) said its Pending Home Sales … Mortgage Rate Watch – 4:38PM Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly) It’s Thursday, and thus time once again for Freddie Mac’s weekly mortgage rate survey. This is the longest-running and most widely-cited snapshot of mortgage rates in the US, but it … MBS Commentary – 9:14AM MBS Day Ahead: Why We’re Watching Treasuries The market reaction to coronavirus made a mess of the relationship between Treasuries and MBS (and between MBS and mortgage rates for that matter). These disconnections can happen from … Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop Freddie’s Loan Portfolio on Pace to Increase by 14.3 Percent This Year Latest Video Trading Nation: Homebuilders surge 44% this quarter, here’s where it could be headed Pending home sales fell 21.8% in April Initial jobless claims total 2.123 million for week ending May 23 More News from ‘Around the Web’ Calculated Risk Blog – 4:25PM Hotels: Occupancy Rate Declined 50.2% Year-over-year, Slight Increase Week-over-week http://www.redfin.com – 4:25PM Miami Real Estate: What it’s like Buying a Home During COVID-19 guide.freddiemac.com – 4:24PM Updated COVID-Related Underwriting Guidance from Freddie Reuters – 3:27PM Small-business loan terms eased under U.S. House-passed bill Reuters – 3:26PM Fed’s Kaplan says U.S. economy has bottomed, ties rebound to testing CNBC – 2:05PM NY Fed President Williams says U.S. is not ‘anywhere near’ its limits to run up debt Calculated Risk Blog – 2:05PM Freddie Mac: Mortgage Serious Delinquency Rate increased in April CNBC – 2:04PM Millionaires cut spending, postpone big purchases for at least a year Reuters – 1:05PM S&P 500 drifts higher on healthcare, tech lift CNBC – 11:46AM Expanded unemployment benefits for self-employed reach 8 million workers Calculated Risk Blog – 11:24AM Kansas City Fed: "Tenth District Manufacturing Activity Continued to Decline" in May CNBC – 10:05AM Pending home sales plummet in April, but demand is showing signs of a rebound CNBC – 9:33AM Debt balances rise as the debate over extending student loan forgiveness continues in Congress Calculated Risk Blog – 8:55AM Q1 GDP Revised Down to -5.0% Annual Rate CNBC – 8:33AM Weekly jobless claims total 2.123 million, vs 2.05 million estimate Reuters – 8:05AM U.S. states, cities may snub Fed lending program over high rates CNBC – 8:05AM If the Fed opts for negative rates, it will need to be a ‘Hail Mary,’ Standard Chartered says http://www.realtor.com – 8:03AM Forget About Recessionary Real Estate Bargains: Home Prices Are Still Rising Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.10% +0.02 15 Yr FRM 2.74% +0.04 FHA 30 Year Fixed 2.68% -0.07 Jumbo 30 Year Fixed 4.20% +0.01 5/1 Yr ARM 3.35% -0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 0.00% 0.00 +0.00 30 Yr. Fixed 0.00% 0.00 +0.00 MBA ** 30 Yr. Fixed 3.42% 0.33 +0.01 15 Yr. Fixed 2.87% 0.30 -0.01 30 Yr. Jumbo 3.71% 0.29 +0.05 30 Yr. FHA 3.41% 0.30 -0.05 5/1 ARM 3.08% 0.01 -0.11 Freddie Mac ** 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 3.15% 0.80 -0.09 15 Yr. Fixed 2.62% 0.70 -0.08 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.13% 0.40 -0.04 Secondary Markets MBS Price Change 30YR UMBS 3.0 105.09 +0.03 30YR UMBS 3.5 105.42 -0.02 30YR GNMA 3.0 105.53 +0.02 30YR GNMA 3.5 105.00 -0.89 15YR FNMA 3.0 105.34 +0.02 15YR FNMA 2.5 104.52 +0.02 Treasuries 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 2 YR 0.1740% -0.0098 5 YR 0.3399% -0.0127 10 YR 0.6949% +0.0000 30 YR 1.4605% +0.0020 Prices as of: 5/28/2020 4:51PM EST

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. © 2020 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Rate Update: Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)

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30 Year Fixed 3.10% +0.02 15 Year Fixed 2.74% +0.04 10YR Treasury 0.70% +0.0017 FNMA 30YR 3.5 105.42 -0.02 FNMA 15YR 2.5 105.34 +0.02 View Today’s Rates

Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly) May 28, 2020 It’s Thursday, and thus time once again for Freddie Mac’s weekly mortgage rate survey. This is the longest-running and most widely-cited snapshot of mortgage rates in the US, but it frequently results in misinformation for mortgage shoppers. The survey does an accurate job of capturing the rates available early in any given week, but it doesn’t take the entire week into consideration. As such, actual rates can be very different by the time the survey is published (and news organizations are citing it as a breaking story). This is most noticeable when rates make huge moves late in any given week or simply when rates are near all-time lows. In the current case, the average lender was at all-time lows late last week when Freddie’s survey wasn’t accepting any responses. It’s no surprise to see Freddie’s survey showing all-time lows today, even as rates have clearly moved up a bit from those all-time lows. After all, a good amount of that movement occurred after Tuesday when the majority of Freddie’s survey responses have already come in. All that to say, please don’t expect your mortgage lender to be able to offer all-time low rates today… not without a time machine anyway. Loan Originator Perspective Pricing is still in a tight range, perhaps off a tad from earlier in the week. For the most part, I am locking when loans are submitted to UW, our short term lock pricing is vastly superior to longer terms. Ask your lender how his lock length pricing varies, he should be able to advise you on best course of action for your scenario. –Ted Rood, Senior Originator, Bayshore Mortgage Ongoing Reminder on Forbearance Coronavirus has created unprecedented challenges for people and industries. For homeowners facing a big reduction in income due to coronavirus-related hardship, a forbearance can make excellent sense. But for those who have the capacity to continue making mortgage payments, there are downsides to consider. Forbearance itself does not hurt your credit score, but it does show up on your credit report. This will affect your ability to qualify for a loan in the present and near future. It can also result in your other creditors decreasing your available credit balances. This has the unintended effect of increasing your ratio of debt to available credit which is a key component of credit scoring models. Thus, even though forbearance itself is not hurting your credit, it can indirectly lower your credit score and it will absolutely impact your mortgage creditworthiness in the short term. 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Co-branding this Report Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads. Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 3.10% +0.02 15 Yr FRM 2.74% +0.04 FHA 30 Year Fixed 2.68% -0.07 Jumbo 30 Year Fixed 4.20% +0.01 5/1 Yr ARM 3.35% -0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 0.00% 0.00 +0.00 30 Yr. Fixed 0.00% 0.00 +0.00 MBA ** 30 Yr. Fixed 3.42% 0.33 +0.01 15 Yr. Fixed 2.87% 0.30 -0.01 30 Yr. Jumbo 3.71% 0.29 +0.05 30 Yr. FHA 3.41% 0.30 -0.05 5/1 ARM 3.08% 0.01 -0.11 Freddie Mac ** 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 3.15% 0.80 -0.09 15 Yr. Fixed 2.62% 0.70 -0.08 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.13% 0.40 -0.04 Secondary Markets MBS Price Change 30YR UMBS 3.0 105.09 +0.03 30YR UMBS 3.5 105.42 -0.02 30YR GNMA 3.0 105.52 0.00 30YR GNMA 3.5 105.00 -0.89 15YR FNMA 3.0 105.34 +0.02 15YR FNMA 2.5 104.52 +0.02 Treasuries 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 2 YR 0.1740% -0.0098 5 YR 0.3399% -0.0127 10 YR 0.6966% +0.0017 30 YR 1.4625% +0.0040 Prices as of: 5/28/2020 4:49PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2020 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe

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 presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Pending Sales Rout May Signal a Bounce for Housing – Realtors

Posted to: MND NewsWire
Thursday, May 28, 2020 10:16 AM

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Pending home sales cratered again in April, marking two straight months of declines that exceeded 20 percent. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) fell 21.8 percent to 69.0. The decline in March was 20.8 percent. The Index is down by 33.8 percent year-over-year. This is the largest decline in pending home sales number since NAR began tracking the transactions in January 2001. Every major region experienced a drop in both month-over-month and year-over-year pending home sales transactions. NAR Chief Economist Lawrence Yun said he expects that April will be the lowest point for pending sales and subsequently May will mark the bottom for closed sales of existing homes.

(READ THE FULL POST)

More from MND:

• MBS Commentary: MBS Day Ahead: Why We’re Watching Treasuries
• Pipeline Press: Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop
• Mortgage Rate Watch: Mortgage Rates Hold Steady
• MND NewsWire: Freddie’s Loan Portfolio on Pace to Increase by 14.3 Percent This Year
• MBS Commentary: MBS Day Ahead: Rising Rate Trend Intact, But Motivation is Required

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/05282020_pending_sales.asp

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MBS Day Ahead: Why We’re Watching Treasuries

Before you read it here, it was on MBS Live.

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Posted to: MBS Commentary
Thursday, May 28, 2020 9:14 AM

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The market reaction to coronavirus made a mess of the relationship between Treasuries and MBS (and between MBS and mortgage rates for that matter). These disconnections can happen from time to time and when they do, we stop following trends in Treasuries and focus on MBS. In fact, the disconnection between MBS and mortgage rates forced me to stop following MBS except inasmuch to be on the lookout for a reconnection.

While we may see a bit of small scale disconnection between Treasuries and MBS in the short-term, it won’t be big enough to suggest we tune-out Treasuries…

(READ THE FULL POST)

More from MND:

• Pipeline Press: Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop
• Mortgage Rate Watch: Mortgage Rates Hold Steady
• MND NewsWire: Freddie’s Loan Portfolio on Pace to Increase by 14.3 Percent This Year
• MBS Commentary: MBS Day Ahead: Rising Rate Trend Intact, But Motivation is Required
• Pipeline Press: LO Jobs; Servicing, DPA, CRM Products; Warehouse Deal News; More Investor Changes

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Doc, MSR, Broker Products; Private MI Companies Motor On; Continuing Jobless Claims Drop

Posted to: Pipeline Press
Thursday, May 28, 2020 8:07 AM

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With two business days left in May, one can feel the anticipation of the start of the “National Standing Desk League” opener coming up soon. I’m excited about that, and I’m excited that it’s garbage day here at the house. Taking out the garbage… What to wear, what to wear? What isn’t exciting for investors in mortgages are delinquencies. Mortgage delinquencies had a record surge in April. At 6.45%, the national delinquency rate nearly doubled from 3.06% in March, the largest single-month increase recorded, and nearly three times the prior record for a single month’s change during the height of the financial crisis in late 2008, Black Knight said. For context, it took more than 18 months before the first 1.6 million homeowners became delinquent during the Great Recession, says Andy Walden, economist and director of market research at Black Knight, adding that there is still potential for a second wave of delinquencies in May.

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More from MND:

• Mortgage Rate Watch: Mortgage Rates Hold Steady
• MND NewsWire: Freddie’s Loan Portfolio on Pace to Increase by 14.3 Percent This Year
• MBS Commentary: MBS Day Ahead: Rising Rate Trend Intact, But Motivation is Required
• Pipeline Press: LO Jobs; Servicing, DPA, CRM Products; Warehouse Deal News; More Investor Changes
• MND NewsWire: Home Purchase Apps Highest Since January

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