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 13, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for Sep 13, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 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 5.0 100.01 +0.05   95.05 100.50 UMBS 30YR 5.5 101.29 +0.06   97.47 101.61 10 YR Treasury 4.012 -0.019   3.643 4.780 MBS Price Change UMBS 4.5 98.06 +0.02 UMBS 5.0 99.99 +0.04 UMBS 5.5 101.28 +0.04 GNMA 4.5 98.18 +0.02 GNMA 5.0 100.27 +0.06 GNMA 5.5 101.18 -0.03 Pricing as of: 9/17 7:57AM EST US Treasury Yield Change 2 YR Treasury 3.506 +0.003 5 YR Treasury 3.582 -0.004 7 YR Treasury 3.765 -0.006 10 YR Treasury 4.015 -0.016 30 YR Treasury 4.624 -0.027 Pricing as of: 9/17 7:57AM 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) Regional, MLO Jobs; Processing, Blockchain, O&E, Fix and Flip, Reverse Mortgage Products; Wholesalers and Appraisals Mon, Sep 13, 2021 11:23AM On HGTV, people can flip a whole house in a month. Meanwhile, I’ve been “getting ready to vacuum” for a week now. There isn’t a lot of mirth in residential lending, especially when it comes to discussing wealth trends. Don’t think that the housing market is helping to widen the gap between the haves and have nots? “Real es... (read more) Latest Video The 2pm Bond Report - September 13, 2021 The 9am Bond Report - September 13, 2021 House Democrats propose corporate tax rate of 26.5% Transitory vs. new normal: The state of inflation Around the Web Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases to 3.08%" Reuters U.S. House Democrats seek to end cap on state, local tax deduction Calculated Risk Blog 5 Additional Local Housing Markets in August: Albuquerque, Colorado, Houston, Memphis and Nashville Calculated Risk Blog Housing Inventory Sept 13th Update: Inventory Down 1.4% Week-over-week, Up 41% from Low in early April The Basis Point "Safe" Home Equity Rose $1 Trillion In Q2 To Record $9.1 Trillion & Cash-Out Refis Highest In 15 Years Redfin 59% of Home Offers Written by Redfin Agents Faced Bidding Wars in Augustthe Lowest Level Since 2020 CNBC 10-year, 30-year Treasury yields fall slightly to start the week 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

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