This is the second part of a summary of a Fannie Mae sponsored analysis by the Urban Institute (UI) of the role home equity could play in retirement security. The study utilized longitudinal data from the bi-annual National Institute on Aging's Health and Retirement Study (HRS) survey for the years 1998 through 2012. In the first part of the summary UI explained that, despite ups and downs in the economy, households over the age of 65 have more equity than in 1998 but they also have more home debt, both in the number of seniors with debt and the balance of that debt. Loan-to-value ratios also tend to be higher than in earlier generations. There are several ways homeowners can tap into their equity; a home equity loan, referred to here as a second mortgage, a home equity line of credit (HELOC

November 15, 2016 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Nov 15, 2016 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Day Ahead: Time to Talk About End of Bonds' 35yr Run? Tue, Nov 15, 2016 10:03AM Big moves in bond markets always result in big conclusions from all manner of market participants.  Whether it's Chief Strategist at some big bank, a money manager for a big bond fund, or even a financial news commentator, I've seen a rampant ... (read more) MBS Live Recap: Relative Destruction For Bond Markets Mon, Nov 14, 2016 7:53PM With Thursday marking a slightly less robust day of selling compared to Wednesday, it was all too tempting to hope that the bond market was just getting every last little bit of crazy weakness of its system ahead of the 3-day weekend, and that we'd... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Home Equity's Significant Potential Boost to Retirement Income Tue, Nov 15, 2016 11:51AM This is the second part of a summary of a Fannie Mae sponsored analysis by the Urban Institute (UI) of the role home equity could play in retirement security. The study utilized longitudinal data from the bi-annual National Institute on Aging's Health and Retirement Study (HRS) survey for the years 1998 through 2012. In the first part of the summary UI expla... (read more) MBA Forecasts Dip in October New Home Sales Tue, Nov 15, 2016 10:55AM The Mortgage Bankers Association (MBA) is estimating that the pace of new home sales slowed slightly in October compared to the previous month. Its Builder Application Survey (BAS) which is conducted among mortgage subsidiaries of new home builders nationwide, showed a 2 percent decrease in purchase applications in October, a number that is not seasonally ad... (read more) 30 and 60 Day Delinquency Rates Staying Below Pre-Crisis Levels Tue, Nov 15, 2016 10:54AM Mortgage delinquencies are now the lowest they have been since the second quarter of 2006, some two years before the housing crisis began and other mortgage performance metrics have reached similar or even historic lows. The quarterly National Delinquency Survey from the Mortgage Bankers Association (MBA) puts the rate at the end of the third quarter at a se... (read more) Vendor News; VA, FHA, and Ginnie Mae Changes Tue, Nov 15, 2016 10:43AM For me this week and last includes time in Knoxville, Las Vegas, Portland, Northern California, Colorado, and Salt Lake City. The mood? Besides plenty of lenders wondering if they should hit their broker-dealers up for margin calls given the 3-point sell off this month (the opposite of Brexit), in general lender management is watching the potential regulator... 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