The annual premium paid by borrowers on mortgages backed by the Federal Housing Administration (FHA) is going down by a quarter of a percent. Housing and Urban Development (HUD) Secretary Julian Castro announced today that the annual mortgage insurance premium (MIP) will be reduced 25 basis points for most new mortgages with a closing date on or after January 27. The reduction is expected to save new FHA insured homeowners an average of $500 this year. A HUD press release said today's announcement reflects the fourth straight year that FHA's Mutual Mortgage Insurance Fund (MMIF) has strengthened. It has gained $44 billion in value since 2012 and last year alone grew by $3.8 billion. The fund now stands at 2.32 percent of all FHA insurance in force, the second consecutive year that it has exceeded

January 9, 2017 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 Jan 9, 2017 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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Very Quiet in Terms of Data; Holiday Weekend Ahead Mon, Jan 9, 2017 8:38AM NOTE: This paragraph will be at the top of the Day Ahead for a few weeks.  Once you've read it, feel free to skip it.  The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerati... (read more) MBS Live Recap: Post-NFP Bond Selling Looks Technical Fri, Jan 6, 2017 5:14PM NFP is the biggest piece of economic data on any given month--so big, in fact, that financial markets treat it as a focal point for trading activity regardless of the outcome .  As we know, stronger job creation is generally bad for rates and w... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Breakdown of FHA's Multifaceted MIP Cut Mon, Jan 9, 2017 11:24AM The annual premium paid by borrowers on mortgages backed by the Federal Housing Administration (FHA) is going down by a quarter of a percent. Housing and Urban Development (HUD) Secretary Julian Castro announced today that the annual mortgage insurance premium (MIP) will be reduced 25 basis points for most new mortgages with a closing date on or after Januar... (read more) Rising Rates Hurting Homebuyer Sentiment -Fannie Mon, Jan 9, 2017 3:08PM Consumer perceptions about rising interest rates and stagnant income levels were the main contributors to a half-point decrease in Fannie Mae's Home Purchase Sentiment Index ® (HPSI) in December. The HPSI, which reflects key variables from the company's National Housing Survey (NHS), was 80.7 in December. It was the fifth consecutive month in which the i... (read more) Refinancable Population Declines Even as Equity Rises Mon, Jan 9, 2017 11:00AM In its current edition of the Mortgage Monitor , covering data from November 2016, Black Knight Financial Services looks at the changing landscape of refinance lending . With the rise in interest rates that started this past fall and accelerated after the election, the population of borrowers which is both likely to qualify for refinancing and has an incenti... (read more) Quicken's Parent Expands, Lots of Training and Events; Wage Inflation Primer Mon, Jan 9, 2017 9:34AM Ah, here we are starting off a work week with 5 whole days in it. Remember that next Monday is a holiday for some, not all, with the usual questions about it on processing a loan. ( Lenders are not to include the date of the holiday in the three-day rescission period for any loans disbursing after that date. Additionally, it should not be included for purpos... (read more) Latest Video Santelli Exchange: Market correlations & investor optimism Fed's Power: Congress should look at Volcker Rule El-Erian: Keep an eye on the US dollar Around the Web Bloomberg Quicken Loans Founder Accuses DOJ of Shakedown in Mortgage Fight CNBC With recovery 'largely done,' Lockhart says Fed should step aside Market Watch Goldman's Hatzius: 35% chance of Fed hike in March and markets aren't braced for it Bloomberg Investment-Grade Bonds Blast Into 2017 Despite Long-Term Fears freddiemac.mwnewsroom.com Freddie Mac Transfers Risk on $215 Billion of Single-Family Mortgages in 2016 Bloomberg U.S. 10-Year Yield Needs to Top 2.80% for Escape Velocity: Chart feedproxy.google.com FHA Mortgage Insurance Premium Reduction a Fresh Start, Says NAR President Brown Market Watch Fed's Rosengren sees somewhat more regular' interest-rate hikes Bloomberg Time for a Breather in Bond, Oil and Yen Trades, Deutsche Says HUD FHA's Press Release on MIP Reduction Fannie Mae Housing Sentiment Dampened by Rising Rates, Despite ... builderonline.com Single-Family Rentals Grow With Whole Communities bkfs.com Black Knight's November Mortgage Monitor: 2.2 Million Homeowners in Negative Equity, Fewest Since Early 2007

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