The Mortgage Bankers Association (MBA) said on Wednesday that independent mortgage banks and mortgage subsidiaries of chartered banks reported net production losses in the first quarter of 2018, for only the second time since MBA began tracking the data in 2008. The bankers who responded to MBA's survey reported a net loss of $118 on each loan they originated, down from a reported gain of $237 per loan in the fourth quarter of 2017. The net production losses, of 8 basis points was down from an average net production profit of 9 bps in the fourth quarter of 2017. The first quarter loss was not as severe as the $194 per loan (also 8 basis points) seen in the first quarter of 2014, the only other quarter in the survey's history to record a net production loss. Marina Walsh, MBA's Vice President

June 6, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jun 6, 2018 Mortgage Rates Up To 3-Week Highs Wed, Jun 6, 2018 3:25PM Mortgage rates rose today, resuming an upward trend that began last week after political turmoil in Italy began to die down. More simply put, rates had been rising in mid May. Italy's political turmoil caused enough concern about the fate of the Eurozone that investors moved money into bonds, thus helping rates move lower. As risks subsided in Europe, rates have returned to similar levels as those seen in the first half of May. Any talk of rejoining an upward trend that began last week is a bit misleading . In fairness, the broader trend has been toward higher rates since last September. Last ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Day Ahead: Careful What You Wish For Wed, Jun 6, 2018 9:53AM I owe you an apology.  I caused a bit of a sell-off in bond markets today.  It all started yesterday afternoon when I called attention to the fact that Italian headlines and credit spreads were still moving markets even though they shouldn'... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 1:25AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 1:25AM EST Other News Mortgage Banks in The Red For Q1 Wed, Jun 6, 2018 3:19PM The Mortgage Bankers Association (MBA) said on Wednesday that independent mortgage banks and mortgage subsidiaries of chartered banks reported net production losses in the first quarter of 2018, for only the second time since MBA began tracking the data in 2008. The bankers who responded to MBA's survey reported a net loss of $118 on each loan they originate... (read more) Fannie Introduces Manufactured Housing Changes, Updates Condo Policies Wed, Jun 6, 2018 11:23AM A Selling Guide Announcement from Fannie Mae on Tuesday introduced a new initiative for loans secured by manufactured housing. The MH Advantage program is designed for those units that meet specific construction, architectural design, and energy efficiency standards that more closely approximate those used for site-built housing. The company says its goal is... (read more) Interest Rate Reprieve Drives Higher Volumes Wed, Jun 6, 2018 8:11AM The dip in mortgage rates reported by the Mortgage Bankers Association (MBA) for the week ended June 1 was small compared to the 10-basis point decline reported by Freddie Mac for the same period, but it did seem to spur increased mortgage activity . MBA said its Market Composite Index, a measure of loan application volume, was up on a seasonally adjusted ba... (read more) Escrow, Warehouse, Retention Products; Freddie and Fannie Primary Market Changes Wed, Jun 6, 2018 8:32AM Two companies, Google and Facebook, are dominating the digital side of the marketing business. Six out of every ten dollars spent on digital ads is spent with one of them, and that’s accelerating: the pair claim nine out of every ten new digital ad dollars. I wonder how many first-time home buyers visit one or both during the day? Probably 100%. Accord... 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