While Irma is battering the Florida coast and costing untold billions in damages, Black Knight Financial Services released information about the ultimate costs to the housing finance industry of Hurricane Harvey. The disaster that struck primarily in the Houston/Port Arthur/Beaumont, Texas area may affect mortgage performance more than did Hurricane Katrina in 2005. Both the magnitude of the rainfall, which hit 50 inches in some locations, and the population of the area magnified the Hurricane's impact. The current edition of Black Knight's Mortgage Monitor says the FEMA-designated disaster areas have over twice as many mortgaged properties as did the areas ravaged by Katrina, 1.18 million properties versus 456,000, and at $179 billion, nearly four times the unpaid principal balance. The government

September 11, 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 Sep 11, 2017 More New 2017 Lows For Mortgage Rates Fri, Sep 8, 2017 4:58PM Mortgage rates were slightly lower today, despite moderate weakness in underlying bond markets. This would typically coincide with higher rates, but mortgage lenders haven't been moving in lock-step with markets amid this week's higher volatility. The first dose of volatility came early, with weekend headlines concerning North Korea resulting in a nice move lower to start the week. Rates bounced on Wednesday on news of a bipartisan agreement to provide disaster relief and to temporarily raise the debt ceiling. The latter had been causing general economic concern--something that tends to benefi... (read more) 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: Limited Data at First, Then Big Finish on CPI Mon, Sep 11, 2017 8:50AM Bond markets are beginning the week in a defensive stance after insurance analysts report expected Irma-related losses to be lower than originally forecast.  Adding to the weakness is separate news that South Korea is supporting a full gamut o... (read more) MBS Live Recap: More About Consolidating Gains Than New Weakness Fri, Sep 8, 2017 5:26PM With an absence of significant economic events and the storm of the century bearing down on the Southeast, trading activity was understandably a bit lighter than yesterday.  After a bit of morning volatility, bonds settled into a sideways pattern that left most of the week's gains intact. Bonds were actually stronger in the overnight session, desp... (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 Harvey Loan Losses Could Top Katrina's Mon, Sep 11, 2017 9:56AM While Irma is battering the Florida coast and costing untold billions in damages, Black Knight Financial Services released information about the ultimate costs to the housing finance industry of Hurricane Harvey. The disaster that struck primarily in the Houston/Port Arthur/Beaumont, Texas area may affect mortgage performance more than did Hurricane Katrina ... (read more) Quantitative Easing Did Affect Risk-Taking, Lending Standards Fri, Sep 8, 2017 11:32AM In response to the 2007-2008 financial crisis and the ensuing Great Recession, some central banks, including the U.S. Federal Reserve, put some unconventional monetary policies in place. Among these policies were large-scale asset purchase programs (LSAPs) which are more commonly referred to in the U.S. as quantitative easing (QE) measures. The Fed put three... (read more) Warehouse Advice for Loans in Disaster Areas; Market Exec on Borrower Expectations Mon, Sep 11, 2017 9:29AM Builder chatter? Builders in Texas, Louisiana, and Florida now have a choice: build new homes or help repair existing stock. Labor will be in short supply, as will materials. What about land? Prior to the hurricanes, after a successful spring selling season, builders planned ahead to fill their land pipelines in 2018. Flood, Hurricane, Disaster Updates - Fun... (read more) Latest Video Interest rates will be higher at some point: Ron Weiner Inside Home Depot's disaster command center Santelli Exchange: Bond auctions may hold directional clues for rates Around the Web consumerfinancemonitor.com Upcoming programs on CFPB Arbitration Rule Reuters Lawsuits against Equifax pile up Calculated Risk Blog Leading Index for Commercial Real Estate "Slips" in August Reuters S&P 500 surges toward record high as fear fades CNBC Equifax tumbles nearly 8% as investors keep bailing after data breach builderonline.com Habitat Hammers Back Market Watch Fed is following a playbook written during World War II NAHB Eye on Housing Sources of Home Buyers and New Renters CNBC Harvey and Irma economic hit could total $200 billion: Moody's CNBC Navigating insurance claims, post Hurricane Irma CNBC JPMorgan: Irma will still be one of the 5 most costly hurricanes ever Market Watch Bond Report: Treasury yields climb as hurricane, North Korea fears ease builderonline.com Millennial Household Facts

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