Taking out a mortgage with an origination balance higher than whatever the conventional loan limit was at the time used to be an expensive proposition. Home buyers and refinancers had an incentive to do whatever they could - higher down payments, piggy back second mortgages - to get their loan under that conventional limit in order to reap the benefits of lower borrowing costs. However, as Archana Prahan writes in the CoreLogic Insights Blog, since mid-2013 a jumbo loan has had lower borrower costs than a conforming loan, currently defined as one with a balance at or under $453,100. In the first quarter of 2018 that differential averaged 33 basis points (bps). As Figure 1 shows, conforming loans were cheaper during the period from the second quarter of 2007 to the first quarter of 2013, (blue

August 31, 2018 Download our Mobile App: Download our Mobile App: Housing News Jumbo Loans Back in Style? Taking out a mortgage with an origination balance higher than whatever the conventional loan limit was at the time used to be an expensive proposition. Home buyers and refinancers had an incentive to do whatever they could - higher down payments, pig... (read more) Rob Chrisman MI, Warehouse, and Broker Products; Mortgage Fraud Protection Trends “How can you make a comeback when you haven’t been anywhere?” It seems that 3D-printing is going places. NASA awarded five teams $100,000 in a 3D-Printed habitat competition. As the next step, the winners are required to 3D print a ... (read more) Housing News Freddie Mac Updates Selling Guide, Introduces New Product Freddie Mac will be consolidating two of its mortgage products into a single offering effective October 29, 2018. The company announced this and other changes to its Selling Guide in a Bulletin on Wednesday. The affected products are Freddie Mac's Ho... (read more) MBS Commentary MBS Live Day Ahead: Lowest Volatility Ever, or Close to It There are a few different ways to measure volatility in the bond market, but one of the simplest is via the average daily trading range.  That particular metric is showing volatility in line with the lowest levels on record. The lower ... (read more) Mortgage Rate Watch Mortgage Rates: If You Like Boring, You're in Luck! Mortgage rates didn't move at all, again today. There really hasn't been any meaningful movement for more than 3 weeks. The same thing happened from late June through mid July. And if we broaden our definition of "sideways" just a bit, we can legitim... (read more) MBS Commentary MBS Live Recap: New Tariff News Helps Bonds Dig Into Range While we can't really avoid talking about "the range" recently (roughly 2.80 to 2.90 in terms of 10yr Treasury yields), we can at least talk about it in a slightly more enjoyable way today. As of yesterday afternoon, yields were essentially chal... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% -0.01 0.00 15 Yr. Fixed 6.04% -0.03 0.00 30 Yr. FHA 6.39% -0.01 0.00 30 Yr. Jumbo 6.92% 0.00 0.00 7/6 SOFR ARM 6.27% -0.04 0.00 30 Yr. VA 6.40% -0.02 0.00 Updates Daily - Last Update: 7/18 15 Yr. Fixed Rate 6.04% -0.03% 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 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.24 +0.12 Price / Yield Change MBS UMBS 5.5 99.24 +0.12 UMBS 6.0 101.20 +0.08 GNMA 5.5 99.55 +0.27 GNMA 6.0 101.21 +0.24 Pricing as of: 7/18 6:47PM EST 10 Year US Treasury 4.4195 -0.0338 Price / Yield Change US Treasury 2 YR Treasury 3.870 -0.034 5 YR Treasury 3.946 -0.044 7 YR Treasury 4.172 -0.038 10 YR Treasury 4.420 -0.034 30 YR Treasury 4.984 -0.024 Pricing as of: 7/18 6:47PM EST Latest Video Why markets aren't reacting strongly to Canada trade uncertainty Consumer sentiment index at 96.2 in August Chicago PMI at 63.6 in August Around the Web Reuters U.S. says to move ahead with Mexico trade pact, keep talking with Canada Calculated Risk Blog Q3 GDP Forecasts Bloomberg It's Trump, Not Just the Fed, Driving the Short-Term Muni Frenzy NAR - Realtor.com The Neighborhood Names With the Highestand LowestHome Prices CNBC Millennials put pets first when buying a home CNBC Consumer sentiment hits 96.2 in August, vs. 95.5 estimate Bloomberg Record London Rents Lure Overseas Landlords to House Market Calculated Risk Blog Hotels: Occupancy Rate Unchanged Year-over-Year CNBC The $1 billion price cut: Luxury real estate gets slashed NAHB Eye on Housing Lot Size Remains Record Low Reuters Canada, U.S. may not reach NAFTA deal within deadline: Globe and Mail Bloomberg UK House Prices Drop Most Since 2012 as BOE Raises Rates Reuters Bond yield curves flatten - except in Brexit Britain

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