We know that home price growth is slowing , and cash-out refinancing has been coming back, still it is a bit of a stunner to find that homeowner equity actually declined in the third quarter of this year. Black Knight's current issue of its Mortgage Monitor reports that the amount of total equity (home value net of mortgage balance) held nationally by homeowners at the end of the third quarter was down by $160 billion compared to the second quarter of the year and now totals $9.8 trillion. Of that total, $5.9 trillion is considered "tappable," that is equity that can be withdrawn by the homeowner without hitting a maximum 80 percent combined loan-to-value (CLTV) ratio. That also fell, down by $140 billion quarter-over-quarter, the first decline since the housing recovery began in 2012. Both

December 10, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Dec 10, 2018 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.59 -0.37   95.05 100.50 UMBS 30YR 5.5 101.03 -0.20   97.47 101.61 10 YR Treasury 4.081 +0.050   3.643 4.780 MBS Live Day Ahead: How We Guard Our Newfound Gains Mon, Dec 10, 2018 8:01AM We've had an impressive winning streak recently and have acquired gains worthy of a watchful, protective eye.  Will this be a durable rally or a fleeting victory?  That question can't be answered without seeing how economic data and event... (read more) MBS Live Recap: Bonds Think it Over After NFP, Then Finally Decide to Rally Fri, Dec 7, 2018 4:23PM This morning's trading--both before and after NFP came out--basically acted as additional time for debate .  Both MBS and Treasuries bounced quickly, but symmetrically around yesterday's closing levels before finally choosing a direction.  Actually, the direction may have been chosen for them to some extent, as it was the stock market that made th... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.03 -0.20 GNMA 4.5 98.02 -0.14 GNMA 5.0 99.82 -0.38 GNMA 5.5 100.89 -0.32 Pricing as of: 9/17 8:27PM EST US Treasury Yield Change 2 YR Treasury 3.564 +0.060 5 YR Treasury 3.656 +0.070 7 YR Treasury 3.839 +0.068 10 YR Treasury 4.081 +0.050 30 YR Treasury 4.688 +0.036 Pricing as of: 9/17 8:27PM EST Other News Black Knight and the Case of the Disappearing Equity Mon, Dec 10, 2018 12:25PM We know that home price growth is slowing , and cash-out refinancing has been coming back, still it is a bit of a stunner to find that homeowner equity actually declined in the third quarter of this year. Black Knight's current issue of its Mortgage Monitor reports that the amount of total equity (home value net of mortgage balance) held nationally by homeow... (read more) A Gift From Fannie/Freddie - Evictions Suspended for the Holidays Mon, Dec 10, 2018 1:23PM Both Freddie Mac and Fannie Mae have announced the suspension of eviction lockouts for single-family and two- to four-unit properties for the holiday season. The moratorium will begin December 17 and end January 2. Fannie Mae said it will allow legal and administrative proceeding for evictions to proceed during the 16-day period, but families will be allowed... (read more) NAHB Says Second Homes Aren't Just Vacation Destinations Mon, Dec 10, 2018 11:14AM The stereotype of a second home usually involves a tropical beach, a boat dock on a lake, or skiers whizzing past a picture window, but the National Association of Home Builders (NAHB) says that is not reality. Or at least not all of it. Na Zhao, writing in NAHB's Eye on Housing blog says there are a good amount of second homes and lots exist in non-vacation... (read more) Broker and Front-End Products, Subservicer Webinar; Rates Watching Overseas' Markets Mon, Dec 10, 2018 9:08AM The focus is on the holidays but there is plenty of 2019 wedding planning occurring. Despite that, according to the U.S. Census Bureau, adults are increasingly delaying saying, “I Do” as the median age at first marriage continues to climb by approximately 2% compared to 2003. And in 2018, there were 8.5 million unmarried opposite-sex couples livi... (read more) Latest Video Santelli Exchange: Recession risk Job openings at 7.1 million at the end of October Uncertainty in the market will likely lead to gradual rate hikes, Steve Lie... Around the Web Reuters Fed seen slowing, or even stopping, rate hikes next year Reuters Wells Fargo won't be allowed to grow unless problems fixed: Fed's Powell CNBC Morgan Stanley sees growing risk of 'earnings recession' next year as yield curve inverts Bloomberg U.K. Bond Yield Curve on Fire' After May Delays Brexit Vote Calculated Risk Blog AAR: November Rail Carloads Down 0.2% YoY, Intermodal Up 2.5% YoY Bloomberg EU Commission Says It Won't Re-Negotiate Brexit Bloomberg Goldman Says Chance of Fed Rate-Hike in March Now Below 50% Calculated Risk Blog BLS: Job Openings increase to 7.1 Million in October CNBC Small-business optimism dips over fears of an economic slowdown: Survey CNBC Tudor Jones predicts Fed will not hike rates in 2019 after raise in December CNBC Goldman Sachs reduces its outlook for Fed rate hikes but thinks the market is still wrong Bloomberg Treasuries Rally Must Clear $78 Billion Hurdle, Inflation Report CNBC Peer-to-peer lender Zopa to seek more funding in 2019 as it opens its own bank

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