While earlier generations tended to pay off their mortgages before they retired, the leading edge of Baby Boomers, now in their late 60s and early 70s have been less likely to do so. Fannie Mae says the increasing prevalence of housing debt among the 33 million-member strong generation has raised concerns it could compromise their retirement security. Carrying mortgage debt could expand housing affordability problems, crimp essential spending in other areas, limit the accumulation of housing wealth, and raise seniors' exposure to foreclosure. Patrick Simmons, Director of Strategic Planning in Fannie Mae's Economic & Strategic Research Group writes in the current edition of the company's Housing Insights that, while several studies have documented the rise of mortgage debt among older homeowners

October 6, 2017 Download our Mobile App: Download our Mobile App: Housing News Boomers More Likely to Carry Mortgages Into Retirement While earlier generations tended to pay off their mortgages before they retired, the leading edge of Baby Boomers, now in their late 60s and early 70s have been less likely to do so. Fannie Mae says the increasing prevalence of housing debt among the... (read more) Rob Chrisman Nationwide Closes Correspondent; DEVAL Opens Retail; The Fed and Rates Thank you to the California MBA who sponsored a tour yesterday of the Tesla Factory – the building has the 2nd largest footprint in the world (behind the flower auction house in the Netherlands). The engineering & technology on the assembly... (read more) MBS Commentary MBS Live Day Ahead: How NFP Matters and How it Doesn't NFP, or "nonfarm payrolls" (the principle component of the big jobs report officially known as the "Employment Situation") are a bond market institution.  No other data has consistently had as much of an impact on rates over the years.  It ... (read more) Mortgage Rate Watch Mortgage Rates Head Back Toward 4% Mortgage rates moved higher today, bringing the average lender back near 4% in terms of conventional 30yr fixed quotes for top tier scenarios. Most lenders were back in line with last Thursday's rates, which were the highest in roughly 2 months. In t... (read more) Housing News NAHB and NAR Divided Over Mortgage Deduction Is it time to bid farewell to an American-as-Apple-Pie tax deduction? Maybe. After 75 years of supporting it against all assaults, the National Association of Home Builders (NAHB) has abandoned its defense of the mortgage interest deduction (MID) one... (read more) MBS Commentary MBS Live Recap: Stocks Surge and Bonds Stumble Ahead of NFP Generally higher yields and tepid intraday performances are nothing new for bond markets over the past week and a half.  In some ways, today marked a mere continuation of that trend and even offered some silver linings.  In other ways, it k... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 7:08PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 7:08PM EST Latest Video Trading Nation: Bond yields on the rise Fed's Kaplan: Companies have less pricing power because of tech Treasury recommends looser financial market controls to encourage growth Around the Web Freddie Mac Freddie Mac Prices $1.33 Billion Multifamily K-Deal Reuters Downplaying job losses, Fed officials eye December rate hike Market Watch Economic Report: Consumer credit growth slows a bit in August CNBC The Fed just got what it was looking for to satisfy its 'hawkish bent' Reuters Treasury outlines sweeping reform of capital markets Fannie Mae Fannie Mae - Options for Disaster Impacted Areas CNN Trump faces big decision on Fed chief CNBC Why the jobs market is way better than the September report shows CNBC Rates are jumping as jobs report showed hidden signs of inflation CNBC US wholesale inventories post biggest gain in 9 months Market Watch Treasury recommends repealing parts of Dodd-Frank to grow economy Reuters Dollar hits 10-week highs, U.S. yields jump on strong wages data CNBC When buying your kid a house is cheaper than paying for a dorm

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