Profit margins increased for mortgage lenders in the third quarter of 2015. The Mortgage Bankers Association (MBA) said independent mortgage banks and subsidiaries of chartered banks responding to its quarterly survey reported a net gain of $1,773 on each loan they originated during the quarter, up from $1,686 in the second quarter. "Including all business lines, 94 percent of mortgage lenders in our study reported pre-tax net financial profits in the third quarter of 2016, compared to 90 percent in the second quarter of 2016," said Marina Walsh, MBA's Vice President of Industry Analysis. "An increase in production volume and slight decrease in expenses in the third quarter kept production profits relatively stable. These profits would have been even higher were it not for a decline in net

December 7, 2016 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 7, 2016 Mortgage Rates Hold Eerily Steady Tue, Dec 6, 2016 4:44PM Mortgage rates barely budged today, with most lenders offering the exact same quotes as yesterday. While we have seen a few days with similar day-over-day results recently, most of those involved intraday 'reprices' (i.e. lenders changing rates in the middle of the day in response to market movement). Today was the first day since the election with almost no reprices and where nearly every lender made the same move (anywhere from "sideways" to microscopically lower in rate). 4.125% is the most prevalent conventional 30yr fixed rate on top tier scenarios with 4.25% not too far behind. 4.0% is a... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.58 +0.13   95.05 100.11 UMBS 30YR 5.5 101.09 +0.09   97.47 101.40 10 YR Treasury 4.088 -0.021   3.932 4.780 MBS Live Day Ahead: Data Free Day. Another Chance to "Lead-Off" Ahead of ECB Wed, Dec 7, 2016 8:54AM From time to time, we see various financial markets take a "lead-off."  Just like in baseball, the lead-offs occur because the base-runner knows where he wants to go and is better served by taking a few steps in that direction, just in case wh... (read more) MBS Live Recap: Narrowest Trading Day Since The Election Tue, Dec 6, 2016 5:37PM Today's bond market trading range was the narrowest since the US presidential election, by far.  10yr yields held inside a paltry 2.9bp range (2.374 to 2.403%)-- nearly twice as calm as the next calmest day (Nov 22nd, which held a 5bp range).... (read more) MBS Price Change UMBS 4.5 97.53 +0.11 UMBS 5.0 99.58 +0.13 UMBS 5.5 101.09 +0.09 GNMA 4.5 97.53 +0.02 GNMA 5.0 99.80 +0.15 GNMA 5.5 100.88 +0.08 Pricing as of: 11/4 8:19AM EST US Treasury Yield Change 2 YR Treasury 3.576 -0.033 5 YR Treasury 3.697 -0.027 7 YR Treasury 3.881 -0.025 10 YR Treasury 4.090 -0.019 30 YR Treasury 4.674 -0.019 Pricing as of: 11/4 8:19AM EST Other News Lender Profitability Improved in Q3 Wed, Dec 7, 2016 12:24PM Profit margins increased for mortgage lenders in the third quarter of 2015. The Mortgage Bankers Association (MBA) said independent mortgage banks and subsidiaries of chartered banks responding to its quarterly survey reported a net gain of $1,773 on each loan they originated during the quarter, up from $1,686 in the second quarter. "Including all business l... (read more) Mortgage Applications Return to Pre-Holiday Levels Wed, Dec 7, 2016 8:57AM Mortgage application activity was essentially flat on a seasonally adjusted basis during the week ended December 2 while swinging broadly on a non-seasonally adjusted basis as business recovered from the previous week and the Thanksgiving holiday. The Mortgage Bankers Association's Market Composite Index, a measure of application volume, decreased 0.7 percen... (read more) Recapping Existing Home Sales; Reverse Mortgage Conference and Issuance Trends Wed, Dec 7, 2016 9:27AM Today is the 75th anniversary of the Japanese attack on the U.S. naval base at Pearl Harbor in Hawai’i where 2,403 Americans died and 1,178 were wounded. There are those that believe that ghosts still haunt “Pearl” but there modern day “ghost towns” in other parts of the U.S. where high vacancy rates, declining populations, and ... (read more) Latest Video Housing and the Trump administration ECB stimulus will likely continue: Pro BB&T CEO: There are substantial regulations that should be rolled back Around the Web CNBC One of your monthly housing bills may get bigger NAR - Realtor.com Ho, Ho, Huh?! 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