Applications For New Home Sales Jumped 11% on Lower Rates

Applications for mortgages for new home purchases increased 11% in July compared with June and were up 31.2% compared with July 2018, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS).

Here’s why the yield curve inversion could lead to the lowest mortgage rates ever

The spread between two key interest rates inverted Wednesday, August 14, 2019. Here’s why that seemingly insignificant phenomenon could lead to ultra-low mortgage rates, perhaps the lowest ever recorded.

Treasury yields rebound from historic lows

The 10-year Treasury yield briefly broke below the 2-year rate on Wednesday, flashing a recession warning that send stocks tumbling. As of Friday, the curve steepened and was no longer inverted.  The 10yr UST price down 17+/32 to yield 1.58% as of 10:46 AM ET, and UMBS 3.0% are down 5/32, 3.50% are down 3+/32, 4.0% are down 00+/32, and 4.5% are up 1/32.

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