The old credit score models are safe for the time being, despite a belief that they disregard millions of creditworthy Americans, leaving them unable to be scored , and thus virtually unable to buy a home. The Federal Housing Finance Agency (FHFA) announced on Monday that it is suspending the initiative to update the credit score model used by Fannie Mae and Freddie Mac (the GSEs). As recently as this spring FHFA had said that a decision about scoring models would be made this year. In a press release the agency said it is shifting its focus from the update to implementation of Section 310 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (Public Law 115-174) enacted in May. The Act, which sought to undo many of the changes made by the Dodd Frank Wall Street Reform and

July 24, 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 Jul 24, 2018 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: What Exactly is a Post-Range-Bound Momentum Spike? Tue, Jul 24, 2018 9:18AM In putting together today's chart, I found my fingers involuntarily typing the phrase "post-range-bound momentum spike."   It made perfect sense in my mind at the time, but like many concepts pertaining to the analysis of market movement, there... (read more) MBS Live Recap: The Range Finally Breaks, But Not The Way You Were Hoping Mon, Jul 23, 2018 4:30PM Super narrow consolidation patterns in bonds are always super boring until they're not.  It looked like things may have been getting exciting as early as Wednesday of last week, but then Thursday brought a fairly convincingly rally that reinforced the 2.89% ceiling.  Rather than go into the weekend with a typically inconsequential trading day, Fr... (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 6:22PM 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 6:22PM EST Other News FHFA Forced to Put Credit Score Decision on Hold Tue, Jul 24, 2018 10:08AM The old credit score models are safe for the time being, despite a belief that they disregard millions of creditworthy Americans, leaving them unable to be scored , and thus virtually unable to buy a home. The Federal Housing Finance Agency (FHFA) announced on Monday that it is suspending the initiative to update the credit score model used by Fannie Mae and... (read more) Home Prices Step Up Pace Again Tue, Jul 24, 2018 11:09AM The rate of home price appreciation appears to be accelerating again , at least for those homes purchased using Fannie Mae or Freddie Mac mortgages. The Federal Housing Finance Agency said its Purchase Only House Price Index (HPI), based on those mortgage originations, increased by 0.2 percent in May. The April index, originally reported as an 0.1 percent ch... (read more) Black Knight: Delinquencies Roll Back to Pre-Recession Levels Tue, Jul 24, 2018 8:06AM Mortgage performance seems to be sliding past the metrics measuring the world prior to the 2008 housing crisis and is now setting new benchmarks for the 21 st Century. Black Knight, in its first look at June loan data, says some indicators of loan distress are the lowest since the end of the dot.com recession. The company says that June had the fewest forecl... (read more) Tech, Digital, and Sales Products; Rates Edge Higher on Speculation Tue, Jul 24, 2018 8:55AM Not to sound too preachy, but I bet it would have a noticeable impact on the environment if the hundreds of thousands of folks in residential lending requested “no plastic straw” in their drinks or asked for a paper straw made in the USA. Lenders working with builders know that they are doing something similar “green” with constructio... (read more) Latest Video Stocks are near all-time highs, but trader believes the rally will come to ... Stocks rally on earnings; averages off best levels Housing supply crisis worsens Around the Web Calculated Risk Blog Has the Housing Market Peaked? (Part 2) Redfin June Home Prices Rose 5.7% Year Over Year; Smallest Increase Since December 2016 NAR - Realtor.com Only One Generation of Americans Has Fully Recovered From the Housing Crash Bloomberg Abby Joseph Cohen Is More Concerned About Bonds Than Equities CNBC The 'alarming' way 1 in 3 millennial homeowners get the money to buy homes Calculated Risk Blog Richmond Fed: "Fifth District Manufacturing Firms Saw Slowing Growth in July" NAHB Eye on Housing 14% of Adults Plan to Buy Home in Next 12 Months; Most for the First-Time NAHB Eye on Housing Western and Southern States Lead Job Gains in June consumerfinancemonitor.com Senators encourage FCC creation of database of reassigned telephone numbers CNBC Trump turns up the heat on trade: 'Tariffs are the greatest!' Reuters China shares hit one-month high on stimulus hopes, bonds tire CNBC Fannie Mae CEO Timothy Mayopoulos to step down by year's end Calculated Risk Blog Housing Inventory Tracking

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