With interest rates expected to rise and most homeowners who could benefit from refinancing having done so, mortgage bankers are not expecting the sometimes record profits of the last year or so to continue. Fannie Mae's third quarter Mortgage Lender Sentiment Survey (MLSS) found just short of a majority of respondents expecting their profit margins to decline over the next three months , although that has also been the primary sentiment for the past three quarters. The current survey found 46 percent of lenders expecting a decrease in profits, down from 69 percent in the prior survey. Thirty-eight percent believe their profits will be unchanged and 15 percent expect them to be higher. Those expecting slimmer margins cited increased competition and changing market conditions for their pessimism

September 10, 2021 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 Sep 10, 2021 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 99.71 +0.12   95.05 100.47 UMBS 30YR 5.5 101.15 +0.12   97.47 101.61 10 YR Treasury 4.063 -0.018   3.706 4.780 MBS Price Change UMBS 4.5 97.71 +0.08 UMBS 5.0 99.70 +0.11 UMBS 5.5 101.14 +0.11 GNMA 4.5 98.10 +0.08 GNMA 5.0 99.99 +0.17 GNMA 5.5 101.01 +0.12 Pricing as of: 9/18 3:00AM EST US Treasury Yield Change 2 YR Treasury 3.539 -0.024 5 YR Treasury 3.635 -0.021 7 YR Treasury 3.819 -0.020 10 YR Treasury 4.066 -0.015 30 YR Treasury 4.661 -0.027 Pricing as of: 9/18 3:00AM EST Other News Lenders Continue to Expect Falling Profits, Refinancing Demand Fri, Sep 10, 2021 3:25PM With interest rates expected to rise and most homeowners who could benefit from refinancing having done so, mortgage bankers are not expecting the sometimes record profits of the last year or so to continue. Fannie Mae's third quarter Mortgage Lender Sentiment Survey (MLSS) found just short of a majority of respondents expecting their profit margins to decli... (read more) Foreclosure Activity Rises in First Post-Moratorium Month Fri, Sep 10, 2021 2:17PM The other shoe didn't drop last month, but maybe the laces did start to unravel. ATTOM reports that, within a month after the government's pandemic-related moratorium lifted, foreclosure filings nationwide rose 27 percent and were 60 percent higher than in August 2020 when the moratorium was in full force . There were a total of 15,838 properties that receiv... (read more) AE, MLO Jobs; POS/LOS, Automation, Fulfillment, Non-QM Products; Wells Fargo's C&D Order Fri, Sep 10, 2021 11:11AM Thank you to Virginia’s Marc A. who, after reading my comment about companies keeping customers on hold due to “higher-than-normal call volume,” sent a note suggesting, “How great would it be if you called and they said, “Due to high call volume, we’ve staffed up our team to reduce your wait because your time is important ... (read more) Latest Video Transitory vs. new normal: The state of inflation The 3pm Bond Report - September 10, 2021 Is the U.S. in another housing bubble? The 9am Bond Report - September 10, 2021 Around the Web CNBC Markets brace for hot consumer inflation report in the week ahead CNBC Democrats may rein in big estates without reforming the estate tax Calculated Risk Blog Q3 GDP Forecasts: Downgraded to Around 4% Reuters Strained supply chains keep U.S. producer prices hot Fannie Mae Hiring Slows Despite Record Number of Job Openings, While Upward Price Pressures Continue CNBC The number of struggling renters isn't dropping Calculated Risk Blog Hotels: Occupancy Rate Unchanged Compared to Same Week in 2019 Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decreased CNBC August wholesale prices rise 8.3% on an annual basis, biggest advance on record CNBC Treasury yields rise following better-than-expected jobless claims data CNBC Covid mortgage bailouts are expiring fast, but here's why a foreclosure crisis is unlikely Calculated Risk Blog Leading Index for Commercial Real Estate "Loses Steam in August" Calculated Risk Blog 6 Local Housing Markets in August

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