There is easy money, which in mortgage lending terms would be exemplified by underwriting standards in the 2005-2008 period, and there is tight money, the state of mortgage lending in the years immediately thereafter. Where does underwriting stand today? Archana Pradhan writes in CoreLogic's Insight blog that the answer depends on the standards that are examined. Compared to the period immediately after the crash, guidelines have clearly been loosening. Pradhan points out that Fannie Mae upped the maximum loan-to-value (LTV) ratio of loans it would accept to 97 percent in December 2014, a moved followed by Freddie Mac a few months later. Last July Fannie raised its maximum debt-to-income (DTI) level from 45 to 50 percent. DTIs and LTVs, along with credit scores, are the most important factors

June 5, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 5, 2018 Mortgage Rates Continue Higher Mon, Jun 4, 2018 4:31PM Mortgage rates continued higher , adding onto a trend that began last Wednesday. A day earlier, rates hit their best levels in more than a month due to political risks in Europe. The trend back toward higher rates has coincided with the defusing of those risks. Heading into this week, we said rates would be " deciding " if they could remain under a key ceiling. When we're looking at the mortgage market, rates aren't as precise as, say, the US Treasury market. For instance, 2 different lenders could be more than an eighth of a percent off from each other despite almost always moving by the same... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: The Upside of Multiple Personalities: Front Row Seat For Bull/Bear Debates Tue, Jun 5, 2018 9:49AM The most notable feature of the current trading week continues to be its lack of notable features .  There isn't much data on tap (ISM Non-Manufacturing today, but that's about it).  There aren't any major economic/monetary events that hav... (read more) MBS Live Week Ahead: Defending The Gap Without European Help Could Be a Challenge Mon, Jun 4, 2018 10:08AM Where were you 3 weeks ago when we were just beginning to discuss Italian political risks?  I don't remember where I was, but I definitely know where rates were.  10yr yields had just broken above 3.04% for the first time since 2011 and qui... (read more) MBS Live Recap: Departure of European Guests Has Bonds Feeling Blue (or Red) Mon, Jun 4, 2018 5:29PM MBS Live folks don't need to be reminded that red is not our favorite color.  It connotes bond market losses on the MBS Live dashboard (and losses in general, of course).  We saw plenty of it today despite the absence of any meaningful news, econ data, or other developments that would typically prompt such a selling spree. What gives? &nbs... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Is Credit Easing? Depends on Where You Look Tue, Jun 5, 2018 9:19AM There is easy money, which in mortgage lending terms would be exemplified by underwriting standards in the 2005-2008 period, and there is tight money, the state of mortgage lending in the years immediately thereafter. Where does underwriting stand today? Archana Pradhan writes in CoreLogic's Insight blog that the answer depends on the standards that are exam... (read more) Construction, Broker, and Recruiting Products; Pricing and Lock Policy Changes Tue, Jun 5, 2018 8:59AM Builders & real estate agents are very interested in cost per square foot. How much does it cost to build something in New York City? How about $362 per square foot $362 per square foot – the highest in the world. Rate Sheet, Lock Policy, and Pricing Changes Of course “rate sheet” pricing for borrowers changes every day as the MBS marke... (read more) Latest Video Closing Bell Exchange: Markets up for third day in a row There are more jobs than people out of work, something the American economy... ISM non-manufacturing index at 58.6 in May Around the Web Fannie Mae Fannie Mae Selling Guide Updates CNN Wells Fargo is closing all its branches in three Midwestern states Bloomberg Homebuilder Woes Are More Good News for Home Depot and Lowe's CNBC The 10 cities with the most and least student debt NAHB Eye on Housing April Construction Job Openings Remain Elevated Calculated Risk Blog BLS: Job Openings Increased in April to New Series High CNBC ISM non-manufacturing index hits 58.6 in May, vs. 57.6 estimate Bloomberg Italy's Conte Promises Populist Agenda, Urges Strong Europe PR Newswire Equifax Helps Move the Mortgage Industry Closer to Digital with The Work Number Indicator CNBC 3 advisors share their secrets to building a better bond portfolio CNBC More than half of US housing markets were overvalued in April Calculated Risk Blog Annual Vehicle Sales: On Pace to decline slightly in 2018 Bloomberg First-Time US Homebuyers Account for Almost Half of Mortgages

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