The Federal Housing Administration (FHA) has now joined the Federal Housing Finance Agency in raising the dollar limits for loans that qualify for FHA guarantees. Last week FHFA raised limits for Fannie Mae and Freddie Mac loans to 424.100, a number which forms a basis for some of the FHA changes . The new limits, which will be effective for loans with case numbers assigned on or after January 1 , will constitute a slight increase in 2,948 U.S. counties; limits will remain at 2016 levels in 286 counties . In so-called high cost areas, the national " ceiling " will increase to $636,150 from $625,000. The " floor " will increase to $275,665 from $271,050. The loan limit ceiling is 150 percent of the national conforming limit ($424,100) while the floor is set at 65 percent. The floor applies to

December 2, 2016 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Dec 2, 2016 Mortgage Rates Surge Above 2-Year Highs Thu, Dec 1, 2016 4:02PM Mortgage rates spiked abruptly today, bringing them to the highest levels in well over 2 years . The average lender is now quoting conventional 30yr fixed rates of 4.25% on top tier scenarios with more than a few already up to 4.375%. You'd have to go back to the summer of 2014 to see a similar mortgage rate landscape. (NOTE: Freddie Mac's widely-cited primary mortgage market survey, released today, showed a 0.05% increase week-over-week. That increase is actually fairly close to the true week-over-week increase, but only if you're using last Wednesday or Friday as your baseline. Freddie's bas... (read more) Mortgage Rates Bounce Lower Despite Jobs Report Fri, Dec 2, 2016 4:19PM Mortgage rates erased yesterday's losses after today's jobs report, though not necessarily because of it. The Employment Situation (affectionately referred to as "the jobs") is traditionally one of the biggest sources of market movement. So when rates make a big move following the jobs report, it's only natural to assume a cause and effect relationship. That said, most of the credit for today's move goes other places. First of all, there's the simple fact that rates have been trending so decisively higher in general. Just yesterday, I noted that we were increasingly likely to see a rebound as ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 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 99.48 -0.10   95.05 100.47 UMBS 30YR 5.5 101.04 +0.01   97.47 101.61 10 YR Treasury 4.101 +0.020   3.706 4.780 MBS Live Day Ahead: Can NFP Help Bond Buyers Catch The Falling Knife? Fri, Dec 2, 2016 8:12AM Have you heard the one about the falling knife?  And how no one wants to catch it?  That's one of the market's favorite analogies for the fear experienced by potential buyers of an asset whose price has fallen so rapidly that it " surely m... (read more) MBS Live Recap: Bonds Lose Enough to Wake Up Buyers. Then They Went Back to Bed Thu, Dec 1, 2016 5:44PM Bonds began the day in the throes of yesterday's ongoing momentum.  There was a bit of a pause during Asian market hours, but European trading quickly pushed US rates to new 2016 highs .  Unlike most of the recent selling spree, European r... (read more) MBS Price Change UMBS 4.5 97.40 -0.23 UMBS 5.0 99.47 -0.11 UMBS 5.5 101.01 -0.02 GNMA 4.5 97.47 -0.54 GNMA 5.0 99.68 -0.15 GNMA 5.5 100.86 -0.03 Pricing as of: 9/18 4:30PM EST US Treasury Yield Change 2 YR Treasury 3.570 +0.006 5 YR Treasury 3.666 +0.010 7 YR Treasury 3.854 +0.015 10 YR Treasury 4.106 +0.025 30 YR Treasury 4.722 +0.034 Pricing as of: 9/18 4:30PM EST Other News FHA Loan Limits Increased Fri, Dec 2, 2016 9:27AM The Federal Housing Administration (FHA) has now joined the Federal Housing Finance Agency in raising the dollar limits for loans that qualify for FHA guarantees. Last week FHFA raised limits for Fannie Mae and Freddie Mac loans to 424.100, a number which forms a basis for some of the FHA changes . The new limits, which will be effective for loans with case ... (read more) Agency's Future up For Grabs; Loan Amount Changes - FHA's 2017 Levels Fri, Dec 2, 2016 9:24AM Plenty of people are on the roads in December, traveling for the holidays. Ever curious about the basic differences between a road, a street, a boulevard, etc.? Well, here is a short, easy description . With 2018 a mere 13 months away, and the new Administration coming in, talk has resurfaced concerning the two geese laying the golden eggs: Freddie Mac and F... (read more) Latest Video Tarullo: Warns on backsliding on regulatory progress Interest rates are going to go up: Goldman's Hatzius November jobs report to convince the Fed? Around the Web Calculated Risk Blog Zillow Forecast: Expect Case-Shiller Index to "continue to accelerate" in October CNBC The regulatory system 'needs to be debugged,' Blackstone co-founder Schwarzman says Reuters Fed's Tarullo warns against 'backsliding' on bank regulations Reuters Trump's dilemma: slower job growth or rising rates and inflation? Calculated Risk Blog Public and Private Sector Payroll Jobs: Carter, Reagan, Bush, Clinton, Bush, Obama NAR - Realtor.com Homeowners Hit the Jackpot Market Watch Gundlach's DoubleLine sees worst outflows since 2014 'taper tantrum' Bloomberg El-Erian: Trump's Carrier Move Not a Scalable Policy - Bloomberg Video NAHB Eye on Housing Serious Delinquency Rates Improve Across Most Household Debts Market Watch The real driver behind the dollar breakout HUD Mortgagee Letter 2016-20 CNBC The Labor Department says unemployment is at 4.6% but here's the bigger picture CNBC Jobless rate slides to 4.6% on solid November

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