Federal Housing Finance Agency (FHFA) Director Mel Watt had three messages for the U.S. Senate Committee on Banking, Housing, and Urban Affairs on Thursday: Fannie Mae and Freddie Mac (the GSEs) are not the companies they were before they were put in conservatorship Congress needs to act urgently on housing finance reform; and The current financial strictures on the GSEs are not sustainable. It was the third message that will probably grab the most attention . In delivering it, Watt appeared to serve notice that he is ready to end the net worth sweep that will ultimate reduce the capital held by the GSEs to zero at the beginning of 2018. Watt, who has been director of FHFA since 2014, reminded members of the Senate committee that the GSEs are in their ninth year under FHFA conservatorship and

May 11, 2017 Download our Mobile App: Download our Mobile App: Housing News FHFA Calls For Big Changes to Fannie/Freddie Conservatorship Federal Housing Finance Agency (FHFA) Director Mel Watt had three messages for the U.S. Senate Committee on Banking, Housing, and Urban Affairs on Thursday: Fannie Mae and Freddie Mac (the GSEs) are not the companies they were before they were put in... (read more) Rob Chrisman LO Comp Plan Numbers; Legal/Compliance News and Training; TX Home Equity News For me this week includes Maryland , Utah, Wyoming , and California. There are all kinds of rumors out there, ranging from Donald Trump naming Brian Montgomery as the next FHA commissioner to US Bank re-thinking its role in the HFA administration bus... (read more) Mortgage Rate Watch Mortgage Rates Moved Higher This Afternoon Mortgage rates were steady to slightly higher again today, making it the 13th out of the past 16 business days without an improvement. The situation was more palatable earlier this morning and quite a few lenders were actually in better territory vs ... (read more) MBS Commentary MBS Live Day Ahead: Selling Will Continue Until Traders Feel Like Buying Again You've no doubt run across the phrase "the beatings will continue until morale improves."  That's not too far from being an apt assessment of an uptrend in rates.  To make it a little more wholesome, we might instead say that the selling wi... (read more) MBS Commentary MBS Live Recap: 10yr Auction Serves as Wake Up Call Bond markets were having a decent enough day during the morning hours.  Stocks and European markets were weaker, dragging bond yields lower in a classic "risk-off" trade .  Later in the day, bonds marched to the beat of their own drummer a... (read more) Mortgage Rate Watch Mortgage Rates Leak to 1-Month Highs It's been slow and steady, to be sure, but mortgage rates finally inched their way up to the highest levels in more than a month today, depending on the lender. Some rate sheets were in line with April 9/10th levels while a few lenders were back in t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 +0.07 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.06 +0.09 GNMA 6.0 101.47 +0.06 Pricing as of: 7/3 1:36AM EST 10 Year US Treasury 4.2622 -0.0176 Price / Yield Change US Treasury 2 YR Treasury 3.769 -0.019 5 YR Treasury 3.850 -0.017 7 YR Treasury 4.039 -0.018 10 YR Treasury 4.264 -0.016 30 YR Treasury 4.788 -0.020 Pricing as of: 7/3 1:36AM EST Latest Video Strategist: Fed moves will be more important than fiscal policy April PPI up 0.5%, jobless claims drop 2K to 236,000 Are we in a policy-dependent market? Around the Web NAR - Realtor.com Foreclosure Filings Hit Lowest Level Since Height of Housing Market CNBC US House tax committee sets first hearing on tax reform NAHB Eye on Housing Housing Affordability Registers Slight Uptick in First Quarter Bloomberg Wells Fargo Forecasts Additional $2 Billion Cost Cuts by 2019 Market Watch Dow threatens biggest one-day slide in about 7 weeks Freddie Mac Mortgage Rates Continue to Hold Market Watch U.S. stocks open lower; Snap tumbles following results CNBC Four signs it's time to hit the brakes on your home purchase Reuters U.S. jobless claims fall; continuing claims lowest since 1988 builderonline.com Louisiana Senate Passes Ban on Affordable Housing Mandates Reuters In Trump's shadow, Fed official says trade barriers a 'dead end' Reuters Fed's Kashkari: Keep Dodd-Frank regulations in place for big banks NAR - Realtor.com Boston's Real-Estate Market Is Poised for a Boom

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