In August, MND published a summary of an analysis of the current state of the adjustable rate mortgage (ARM). CoreLogic's senior professional economist, Archana Pradhan, wrote that while the product's best days are behind it, the near demise is probably only temporary . The ARM share of mortgages, which reached a peak of 45 percent in mid-2005 now fluctuates between 5 and 13 percent, rising and falling with interest rates. Even at that, it is a decent recovery from the low of 2 percent it reached in mid-2009. ARMs are more common among homebuyers with large-balance loans, making up 47 percent of loans over $1 million that were originated in the first quarter of this year. Further Pradhan said, as rates increase, the ARM will undoubtedly rise again. Therefore, and especially given the role those

October 26, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Oct 26, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.08 +0.00   97.47 101.61 UMBS 30YR 6.0 102.38 +0.00   99.66 102.50 10 YR Treasury 4.083 -0.001   3.621 4.780 MBS Live Day Ahead: Bonds Still on Edge Ahead of Draghi Press Conference Thu, Oct 26, 2017 8:34AM As today begins, the objective details of the ECB policy move are already out.  With the exception the percent change in the € amount of bond purchases, the ECB has essentially copycatted the Fed's tapering move from 2013.  Especially: Rates to remain at present levels for extended period--well past the expiration of asset purchases Reinves... (read more) MBS Live Recap: Assigning Blame For Today's Market Moves Wed, Oct 25, 2017 6:06PM I saw an article from someone who typically does solid work claiming that the massive sell-off in stocks today was due to rising rates.  Fortunately, the article also quoted pundits saying the notion was essentially preposterous until and unless rates move a whole lot higher than they did today (because those pundits are correct). Even then, at... (read more) MBS Price Change UMBS 5.0 99.46 +0.02 UMBS 5.5 101.07 0.00 UMBS 6.0 102.37 -0.01 GNMA 5.0 99.74 +0.01 GNMA 5.5 101.02 -0.03 GNMA 6.0 102.01 +0.04 Pricing as of: 9/9 11:07PM EST US Treasury Yield Change 2 YR Treasury 3.551 -0.017 5 YR Treasury 3.611 -0.016 7 YR Treasury 3.811 -0.022 10 YR Treasury 4.083 -0.001 30 YR Treasury 4.728 -0.007 Pricing as of: 9/9 11:07PM EST Other News ARMs Prove They Have Cleaned up Their Act Thu, Oct 26, 2017 12:49PM In August, MND published a summary of an analysis of the current state of the adjustable rate mortgage (ARM). CoreLogic's senior professional economist, Archana Pradhan, wrote that while the product's best days are behind it, the near demise is probably only temporary . The ARM share of mortgages, which reached a peak of 45 percent in mid-2005 now fluctuates... (read more) Pending Home Sales Stuck at 2-Year Lows Thu, Oct 26, 2017 10:32AM We called the August pending home sales report "the gloomiest in some time." The best that can be said about the report released this morning for September is, at least it didn't get any worse. The National Association of Realtors® (NAR) said that its Pending Home Sales Index (PHSI), which measures contracts for the purchase of existing homes, was at 106... (read more) Lender Appraisal Requirement Changes; New Digital Mortgage Services Thu, Oct 26, 2017 9:19AM NAR wrote a white paper detailing the barriers to homeownership and many of the reasons are well-known. Of course, real estate agents wish there were no underwriting or appraisal criteria whatsoever. (The biggest constraints are tighter mortgage lending, student loan debt, affordability issues, and a lack of supply.) And we have QM and ATR rules, and NAR con... (read more) Upcoming Events; Condo, Jumbo, and Lock Policy News Wed, Oct 25, 2017 6:11PM Yesterday’s commentary noted that HUD Secretary Ben Carson “turned some heads by suggesting lower potential penalties for lenders, especially those financing low-income borrowers." The news prompted R.C. Whalen with Whalen Global Advisors LLC to respond, "The folks at GNMA had to remind Dr. Carson that he does not control the DOJ. Afraid relief f... 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