To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when fixed-rates rise and falling when those rates decline. In the first quarter of this year they accounted for 8 percent of originations. Contrast this with the 45 percent share ARMs represented in mid-2005. However, as Archana Pradhan CoreLogic senior professional economist, writes in the company's Insights blog, if fixed-rate mortgage (FRM) rates increase in the coming year, it is likely the ARM share will as well. Despite their small percentages in the larger universe of mortgage originations, ARMs have consistently been a significant factor for

August 30, 2017 Download our Mobile App: Download our Mobile App: Housing News The ARM Will Rise Again... Probably To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when f... (read more) Mortgage Rate Watch Higher Today, But Still 2nd Best Day of 2017 For Rates Mortgage rates were technically higher today vs yesterday, but unless you've been following day-to-day movements under a microscope, you probably won't mind. Reason being: apart from yesterday, today's rates are still easily the best we've seen since... (read more) MBS Commentary MBS Live Day Ahead: Watching Out For a Post-Korea Bounce We've seen it before and we'll likely see it again.  Bond markets (and most other markets, for that matter) respond quickly to some unexpected headline, moving to levels they otherwise may not have seen, thus testing the boundaries of whatever r... (read more) Rob Chrisman Lender Disaster Updates; Tech Survey Interview; Wells' Rate Lock Lawsuit I love it when a roomful of 50, 60, or 70-year old residential lenders is complaining to me about a lack of “new blood” in the business, and I ask them if any of them have training programs for new loan officers or underwriters or AEs. Or... (read more) Housing News Mortgage Apps Post Another Listless Week Applications for both home purchase mortgages and refinancing declined last week, pulling overall volume lower for the second week in a row. The Mortgage Bankers Association (MBA) says that its Market Composite Index, a measure of application volume,... (read more) MBS Commentary MBS Live Recap: Blame North Korea, But Bonds Sorta Liked It It's all well and good to highlight North Korea's missile launch as the dominant market mover for the day.  It absolutely was.  But it takes a little bit of extra motivation for bond markets to maintain the overnight gains--especially whe... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.35 -0.16 Price / Yield Change MBS UMBS 5.5 99.38 -0.12 UMBS 6.0 101.30 -0.10 GNMA 5.5 99.60 -0.17 GNMA 6.0 101.27 -0.06 Pricing as of: 7/23 1:19PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.874 +0.045 5 YR Treasury 3.930 +0.045 7 YR Treasury 4.144 +0.046 10 YR Treasury 4.390 +0.044 30 YR Treasury 4.958 +0.041 Pricing as of: 7/23 1:19PM EST Latest Video Harvey's economic impact on GDP Facing at least $10 billion in flood insurance claims: Former FEMA deputy a... Buffett: Flood insurance doesn't have big enough risk pool Around the Web consumerfinancemonitor.com CFPB releases summary of TRID Rule amendments consumerfinancemonitor.com HUD/VA/Fannie/Freddie address mortgage-related disaster relief for Hurricane Harvey victims CNBC This week is shaping up to be the slowest in the market since Christmas CNBC A US shutdown could cut into 4th-quarter GDP growth: S&P Market Watch The Fed: Currency war talk restarts after Jackson Hole Bloomberg From Stocks to Bonds, the Bear-Market Signals Are Multiplying consumerfinancemonitor.com Director Director Cordray to remain at CFPB beyond Sept. 1; Rep. Hensarling seeks confirmation of Director Corday's departure plans Calculated Risk Blog Zillow Forecast: "July Case-Shiller Forecast: Slowdown Coming in Home Prices" CNBC Warren Buffett: This doesn't feel like a 3% GDP economy Bloomberg Harvey Could Reshape How and Where Americans Build Their Homes Brookings Institution We've fixed the jobs gap, but people still aren't working Reuters Fed's Powell says new rules for bank directors don't lower the bar Bloomberg US Second-Quarter Growth Revised to 3% in Momentum Boost

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