Mortgage denial rates ebb and flow with the economy, with lenders appetite for risk, and sometimes with the pressure lenders feel to make loans. Denial rates in 2017 continued to diminish as they have done since the economy began to improve in 2013 and were the lowest in any year since at least 2004. Using data collected from lenders under the Home Mortgage Disclosure Act (HMDA), CoreLogic estimates only about one in ten mortgage applications were denied last year. Poor credit used to be the primary reason that lenders turned borrowers away, but Yanling Mayer, writing in the CoreLogic Insights blog, says that, in the current credit cycle that has changed. The tight inventory of starter and lower-priced homes has pushed the prices of those homes up faster, impacting affordability more on that

October 12, 2018 Download our Mobile App: Download our Mobile App: Housing News "Debt-to-Income" Now Biggest Player in Mortgage Denials Mortgage denial rates ebb and flow with the economy, with lenders appetite for risk, and sometimes with the pressure lenders feel to make loans. Denial rates in 2017 continued to diminish as they have done since the economy began to improve in 2013 a... (read more) Rob Chrisman Acquisition/lease Program; Slicing and Dicing Wells' Deal “Rob, are you hearing about investors taking more of a hard line on every issue right now? In recent years they would give an extra day, or waive something, but they are not doing this right now.” Yes, I am hearing that, and that “h... (read more) MBS Commentary MBS Live Day Ahead: Another Day of Stock Watching; Don't Expect Miracles Is there potential for today to turn into a "black Friday" with catastrophic stock losses that usher in the most amazing bond rally we've seen in years?  Sure...  that could happen any time, really, depending on the underlying events drivin... (read more) Housing News Furry, Fuzzy, Scaly, Motivation Want to get that reluctant customer who has been "about to" buy a home for months a little push? If an analysis by the Urban Institute (UI) as reported in Freddie Mac's Homeownership blog is on target, your best marketing tool might be available at t... (read more) Housing News New Home Sales Dip, Still Stronger than Last Year The Mortgage Bankers Association (MBA) reports a drop in applications for the purchase of newly constructed homes last month. Those applications fell by 3.9 percent compared to August although they remained 8.2 percent higher than they were the previ... (read more) MBS Commentary MBS Live Recap: Once More With (Slightly Less) Feeling Bonds rallied today, eventually.  Most of the session was fairly flat with the afternoon bringing most of the rally thanks to another sell-off in stocks.  This time, the stock losses were more measured, but only relative to days like yest... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/3 9:33PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/3 9:33PM EST Latest Video Five or six percent rates not going to kill housing market, Prosperity Bank... Chicago Fed President says he thinks the Fed has a large amount of autonomy Fed will not take the bait and will ignore Trump comments, says former Fed ... Around the Web Calculated Risk Blog Q3 GDP Forecasts Freddie Mac A New Solution to an Old Problem: Making it Easier for the Self-Employed to Get a Mortgage CNBC Thousands line up for zero-down-payment, subprime mortgages Bloomberg Japan's Kuroda Says Treasury Yields Triggered Market Sell Off CNBC Yellen says Fed is being 'thoroughly sensible' and not crazy like Trump says Calculated Risk Blog Hotels: Occupancy Rate Declined Slightly Year-over-year Calculated Risk Blog Housing Inventory Tracking CNBC Preliminary October consumer sentiment at 99, vs 100 reading expected CNBC Cramer: The Fed is 'vastly out of touch' I favor one more hike, then 'Yellen-ize' and hold CNBC Fed's Evans says it's time to 'readjust the policy stance' and keep raising rates NAHB Eye on Housing Garages in New Homes: 2017 Data CNBC Treasury Secretary Mnuchin: China selling US Treasuries in retaliation over trade would be costly CNBC This is not the time to hike spending, the IMF tells Italy

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