Fannie Mae and Freddie Mac (the GSEs, or "government-sponsored enterprises") were already well past having paid back taxpayer bailouts before this week's earnings releases. Freddie Mac has paid back $36.9 billion more than it drew from taxpayers and the number is $46.6 billion for Fannie Mae. Both have capital buffers at the moment, but those are slated to be drawn down to $0 by the beginning of 2018. Neither the GSEs nor their overseer the FHFA are too thrilled about that. FHFA Director Mel Watt expressed concern earlier this year. Before authorizing a full sweep of profits in the first quarter, he told congress he was concerned about the planned drawdown and not to be surprised if he took steps to protect some of the GSE's capital buffers. The GSEs clearly had this in mind when Freddie and

August 4, 2017 Download our Mobile App: Download our Mobile App: Housing News Fannie and Freddie Echo FHFA's Conservatorship Concerns Fannie Mae and Freddie Mac (the GSEs, or "government-sponsored enterprises") were already well past having paid back taxpayer bailouts before this week's earnings releases. Freddie Mac has paid back $36.9 billion more than it drew from taxpayers and ... (read more) MBS Commentary MBS Live Day Ahead: Medium Strong Jobs Having Expected Effect My commentary took a bearish turn , essentially saying that bond markets had done what they could to price-in a poor NFP number and that anything outside a big miss would likely result in a push back into the recent range.  I attached yest... (read more) Rob Chrisman DPA and Accounting Services; Documentation Changes; New Jumbo Deal Harvard research finds that Americans will spend $316B remodeling their homes in 2017 vs. $296B in 2016. This also compares to a low of $222B (in 2009) and a high of $334B in 2006 (and adjusted for inflation). And many lenders have products to help! ... (read more) Housing News Conflicting Views on Need for New Credit Scoring Models Within hours of each other Laurie Goodman, co-director of the Urban Institute's Housing Finance Policy Center, and Melvin Watt, Director of the Federal Housing Finance Agency, expressed quite different views on the need for an immediate change in the... (read more) Mortgage Rate Watch Mortgage Rates Lowest in Just Over a Month Mortgage rates moved just slightly lower today, bringing them to the best levels in over a month for the 2nd time this week. While that sounds somewhat impressive, day-over-day movement has been very small and the overall range has been very narrow d... (read more) MBS Commentary MBS Live Recap: Nice Rally At First Glance, But... I hate to say anything bad about bond market gains.  Bond market gains are among a few of my favorite things, after all!  I also hope I'm wrong in thinking today's rally was "nice" enough to be questioned.  I spelled out the reasons ... (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 7:29PM 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 7:29PM EST Latest Video Santelli Exchange: Fmr. IMF Chief Economist on the jobs report & global inf... Jobs report still doesn’t show signs of inflation: OppenheimerFunds CIO Goldman’s chief economist: Strong jobs numbers don’t look sustainable Around the Web Bloomberg El-Erian 'More and More Worried' About Wages, Even as Jobs Gain Bloomberg Gary Cohn Says to Expect More Deregulation consumerfinancemonitor.com CFPB Provides First Look at the HMDA Portal CNBC Private equity coffers boom as pension funds look for somewhere else to put money beyond stocks Calculated Risk Blog Trade Deficit at $43.6 Billion in June CNBC 'Mystery' of slow wage growth keeps market doubting Fed can hike interest rates Calculated Risk Blog July Employment Report: 209,000 Jobs, 4.3% Unemployment Rate Reuters Strong U.S. jobs report seen in July; wages likely rose CNBC Greenspan: Bond bubble about to break because of 'abnormally low' interest rates Market Watch Treasury yields steady as Wall Street braces for inflation cues from jobs report Market Watch All of a sudden, Gary Cohn is seen as shoe-in to be next Fed chairman Gallup U.S. Small-Business Owners' Optimism Highest in 10 Years NAR - Realtor.com The Secret to Making Money in Real Estate May Be Buying a Home Near This Grocery Store Chain

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