Mortgage rates

Home starts fell more than forecast in August, reflecting less construction of apartments and a decline in the tropical storm-hit South, representing a pause in momentum for a housing market that's been a key source of fuel for the economy.

Mortgage rates remained relatively flat, rising a single basis point off of last week's record low, according to Freddie Mac.

Low rates, along with increased new and existing home sales activity drives the latest forecast.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

The new reality for investors and originators accounts for forbearances and ability-to-repay.

As interest rates tumbled throughout July, prepayments climbed to the highest monthly rate since 2004, but 90-days-or-more delinquencies were on the rise from June, according to Black Knight.

But the 30-year fixed remains below 3%, which should continue to support increased demand.

Ginnie Mae helped to fund more than $70 billion in loans aimed at helping low- and moderate-income borrowers in July.

Conditions have improved for the first time since November.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.

Rates are forecasted to remain at the current low levels for the rest of 2020, driving steady refinance volume.

Mortgage rates fell 2 basis points this week, remaining near their historic lows as they have for the past month with the markets roiled by uncertainty, according to Freddie Mac.

Mortgage rates rose for the first time in six weeks, going back the above the 3% mark, as spreads to the 10-year Treasury yield widened again, according to Freddie Mac.

Mortgage applications increased 4.1% from one week earlier as consumers continued to pursue both purchases and refinancings even as conforming rates rose from their record lows, according to the Mortgage Bankers Association.

Issuers approved for the program will receive written authority to use "digital collateral" for a limited number of securitizations.

Mortgage rates continued their slide, with the conforming 30-year fixed at its closest point ever to breaching the 3% mark, according to Freddie Mac.

Mortgage rates reached their lowest level this week since Freddie Mac began its Primary Mortgage Market Survey in 1971, but they might not have yet gotten to their floor.

Contract signings to purchase previously owned homes surged in May by the most on record as mortgage rates fell and some states began to reopen from coronavirus lockdowns.

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.