The House Financial Services Subcommittee on Housing and Insurance recently held a hearing on " Modernizing Appraisals : A Regulatory Review and the Future of the Industry." According to the committee memorandum, the hearing was called to "Examine the appraisal industry since the creation of the Appraisal Subcommittee in 1989, review the Dodd-Frank Act's impact on appraisers, consumers and stakeholders, and explore the future of appraisals, including alternative home valuation methods." Six panelists presented more than a hundred pages of prepared testimony. Some highlights. James R. Park, Executive Director of the Appraisal Subcommittee and David S. Brunton, President of the Appraisal Foundation opened the hearing, outlining in detail the events leading to the present status of appraisal regulations

November 21, 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 21, 2016 Rates Rip to Highest Levels Since July 2015 Fri, Nov 18, 2016 4:49PM It was all pain , all the time for mortgage rates today. Since the election, the average conventional 30yr fixed rate has risen roughly 0.5%, putting November 2016 on a short list of 4 worst months in more than a decade. Two of those months were back to back amid the 2013 taper tantrum and the other was at the end of 2010. Let it be known that the recent surge in rates is more than a mere post-election knee-jerk. Financial markets are fully repricing their expectations of the future, and we can't even begin to assess how that future might actually pan out until Trump takes office. In other wor... (read more) 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 4.048 +0.009   3.621 4.780 MBS Live Week Ahead: A Few Strategies for Thankfulness When Times Are Tough Mon, Nov 21, 2016 10:08AM You've probably met people with the inspiring (or nauseating) ability to maintain a positive (or idealistic) attitude in the face of adversity.  Perhaps you ARE one of those people (if so, just kidding about the 'nauseating' thing.  We're j... (read more) MBS Live Recap: Just When You Thought it Couldn't Get Worse Fri, Nov 18, 2016 5:41PM If you were wondering why I was hesitant to get on board with the modest improvements and sideways ground-holding of the past few days, today brings the answer.  Rather, it was the fear or possibility of a day like today that should always lead ... (read more) MBS Price Change UMBS 5.0 99.74 -0.04 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.05 -0.03 GNMA 5.5 101.20 +0.02 GNMA 6.0 102.15 -0.04 Pricing as of: 9/9 12:07AM EST US Treasury Yield Change 2 YR Treasury 3.498 +0.010 5 YR Treasury 3.570 +0.009 7 YR Treasury 3.776 +0.008 10 YR Treasury 4.049 +0.010 30 YR Treasury 4.700 +0.010 Pricing as of: 9/9 12:07AM EST Other News Congress Hears Appeals to Fix Dysfunctional Appraisal System Mon, Nov 21, 2016 12:26PM The House Financial Services Subcommittee on Housing and Insurance recently held a hearing on " Modernizing Appraisals : A Regulatory Review and the Future of the Industry." According to the committee memorandum, the hearing was called to "Examine the appraisal industry since the creation of the Appraisal Subcommittee in 1989, review the Dodd-Frank Act's imp... (read more) CFPB Inquiry Could Mean Big Changes For Data Aggregators Fri, Nov 18, 2016 10:54AM Digital records are giving consumers tremendous new opportunities , Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB) told participants attending a field hearing in Salt Lake City on Thursday, but there are also a lot of questions about their access to those records and their safety. Cordray told his audience that CFPB is launching... (read more) Supreme Court Hears Mortgage Case; Other Legal Updates; CFPB's Financial Status Review Mon, Nov 21, 2016 11:56AM “Made up my mind to make a new start…Going to California with an aching in my heart. Someone told me there's a girl out there, with love in her eyes and flowers in her hair.” But once there, can a renter afford it, and try to save money for a future down payment? Research by Trulia finds the most expensive metro areas in the country (based... 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