The refinance pool, homeowners who could benefit from exchanging their old first mortgage lien for a new one, is shrinking fast . Black Knight says, in its March Mortgage Monitor , that the pool declined by 40 percent from the beginning of the year through February 15. This happened as the average rate for a 30-year fixed-rate mortgage (FRM), per Freddie Mac, increased by 43 basis points to 4.38 percent. Since then rates have risen more slowly; they closed out last week at 4.43 percent. These increases put the average rate back to levels last reached in the spring of 2014. These increase means that approximately 1.4 million borrowers lost the interest rate incentive to refinance in just the first six weeks of 2018. This leaves 2.65 million candidates who could benefit and are likely to qualify

March 5, 2018 Download our Mobile App: Download our Mobile App: Housing News Black Knight Sees Future Holding Fewer Refinances, More ARMs The refinance pool, homeowners who could benefit from exchanging their old first mortgage lien for a new one, is shrinking fast . Black Knight says, in its March Mortgage Monitor , that the pool declined by 40 percent from the beginning of the year t... (read more) Mortgage Rate Watch Mortgage Rates Start Strong, But End The Day Higher Mortgage rates ended higher today, after financial markets reacted to developments in last week's tariff-related news. Last Thursday, stock prices and interest rates fell in response to the tariff announcement because investors figured it ran the ris... (read more) MBS Commentary MBS Live Week Ahead: Ultra Cautious Bond Rally Enters 4th Week. Can it Last? The good news is that bond markets improved--albeit microscopically--during each of the past 3 weeks.  That's significant because before that 3-week period, there hadn't even been a single week of improvement in 2018.  The last time we sa... (read more) Rob Chrisman New Lender Products; Upcoming Training; LIBOR Update The Senate is set to vote this week on a bill by Sen. Mike Crapo, R-Idaho, that would revise several sections of the Dodd-Frank Act . Among the bill's provisions, it would raise the asset threshold for systemically important institutions from $50 bil... (read more) Mortgage Rate Watch Mortgage Rates Snap Higher Mortgage rates snapped back toward recent highs today. Part of this has to do with how well rates have done over the past 3 weeks. Granted, rates haven't moved significantly lower over that time, but they've at least avoided moving significantly high... (read more) MBS Commentary MBS Live Recap: Sub 2.80% 10yr Yields Prove to be Hot Lava For Bond Traders If only it were October!  The costume contest at the annual bond trader Halloween bash would be easy to win with that "2.79%" costume in the back of my closet.   OK, so I don't really have a 2.79% costume, but I can tell you ... (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 99.41 -0.10 Price / Yield Change MBS UMBS 5.5 99.34 -0.16 UMBS 6.0 101.27 -0.13 GNMA 5.5 99.61 -0.17 GNMA 6.0 101.26 -0.06 Pricing as of: 7/23 1:08PM EST 10 Year US Treasury 4.3758 +0.0298 Price / Yield Change US Treasury 2 YR Treasury 3.877 +0.048 5 YR Treasury 3.932 +0.047 7 YR Treasury 4.147 +0.049 10 YR Treasury 4.392 +0.046 30 YR Treasury 4.960 +0.043 Pricing as of: 7/23 1:08PM EST Latest Video Auto loans hitting record levels Project Destined teaches real estate investing to minorities Uncertainty looms over Wall Street after tariff announcement, says pro Around the Web CNBC Ray Dalio: Trade war with China would be a 'tragedy' consumerfinancemonitor.com OR, NY, AL, and RI considering data breach legislation post-Equifax Reuters Wall Street extends gains as fears of trade war ease Calculated Risk Blog Update: Framing Lumber Prices Up Sharply Year-over-year, At Record Prices CNBC Homebuilders are in correction territory, but one technician says you should buy the pullback Market Watch What Home Buyers (and Renters) Need to Know About Trump's Steel Tariffs NAHB Eye on Housing Home Features Buyers Consider Essential Brookings Institution A Rust Belt rebuild can't rest on locals CNBC ISM non-manufacturing index hits 59.5 in February, vs. 59 estimate FDIC FDIC Provides Q&As for Consumers as Part of National Consumer Protection Week CNBC Your property taxes just jumped by more than 50 percent. Now what Calculated Risk Blog Housing Industry Concerned about Tariffs NAR - Realtor.com New Homes Could Get More Expensive Thanks to New Steel, Lumber Tariffs

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