Lenders responding to Fannie Mae's Q4 2019 Mortgage Lender Sentiment Survey ® didn't have as bright an outlook for their future profit margins as in the previous survey when their expectations were at a high for the survey which dates back to 2014. However, 44 percent of the 188 senior lending executives completing the survey believe their profit margins will remain about the same compared to the prior quarter, while the remainder are almost evenly divided among those who expect profits will fall (28 percent) and those who expect them to rise, 27 percent. Fannie Mae cites the Mortgage Bankers Association's (MBA's) recent Quarterly Mortgage Bankers Performance Report which showed lender's per loan net production income has been on the rise over the first three quarters of 2019. Lenders reported

December 13, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 13, 2019 Mortgage Rates Bounce After Trade Deal Update Fri, Dec 13, 2019 4:34PM Mortgage rates were somewhat distressed , to say the least, after yesterday's various news stories pertaining to the US/China trade deal. For a variety of reasons, that's the biggest consideration for financial markets at the moment, and interest rates are no exception. Rates were pushed to the upper edge of their recent range as the signing of the first phase of the trade deal looked increasingly likely by the end of the week. While both sides basically acknowledged the progress on the deal (and even the probability that it will be signed), it was not, in fact, actually signed. Additionally, ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.58 +0.13   95.05 100.11 UMBS 30YR 5.5 101.09 +0.09   97.47 101.40 10 YR Treasury 4.089 -0.020   3.932 4.780 MBS Live Day Ahead: A New Way to Look at The Range Thu, Dec 12, 2019 9:15AM Yesterday brought a nice little rally in response to a surprisingly rate-friendly press conference with Fed Chair Powell.  The counterpoint to that conclusion is seen in the chart I posted in yesterday's recap.  Specifically, bonds began the day rallying and were in the midst of a linear trend toward lower yields when Powell's press conference brie... (read more) MBS Price Change UMBS 4.5 97.53 +0.11 UMBS 5.0 99.58 +0.13 UMBS 5.5 101.09 +0.09 GNMA 4.5 97.53 +0.02 GNMA 5.0 99.80 +0.15 GNMA 5.5 100.88 +0.09 Pricing as of: 11/4 8:23AM EST US Treasury Yield Change 2 YR Treasury 3.576 -0.033 5 YR Treasury 3.696 -0.028 7 YR Treasury 3.880 -0.025 10 YR Treasury 4.089 -0.020 30 YR Treasury 4.674 -0.019 Pricing as of: 11/4 8:23AM EST Other News Lender Survey: Has the Refi Boom Run Out of Steam? Fri, Dec 13, 2019 11:57AM Lenders responding to Fannie Mae's Q4 2019 Mortgage Lender Sentiment Survey ® didn't have as bright an outlook for their future profit margins as in the previous survey when their expectations were at a high for the survey which dates back to 2014. However, 44 percent of the 188 senior lending executives completing the survey believe their profit margins... (read more) Only 2 Million U.S. Homes Remain Underwater Fri, Dec 13, 2019 8:14AM According to Dr. Frank Nothaft, chief economist for CoreLogic, "Ten years ago, during the depths of the Great Recession, more than 11 million homeowners had negative equity." This was a quarter of mortgaged homes, he said. Times have certainly changed. The third quarter report from CoreLogic on the equity in U.S. residential property shows only about 2 milli... (read more) Sluggish Loan Applications Show Weakness in New Home Sales Thu, Dec 12, 2019 10:06AM While the Mortgage Bankers Association (MBA) is predicting newly constructed homes sold at a much higher rate in November than they did a year earlier, sales are expected to be down significantly from this past October. MBA's Builder Application Survey (BAS) data for November 2019 shows mortgage applications for new home purchases increased 27.1 percent comp... (read more) Correspondent, Processing, Broker Products; Deep Capital Markets Dive Fri, Dec 13, 2019 8:57AM While the markets are talking about Boris Johnson’s victory in the U.K. (“get Brexit done”), here’s your trivia of the day: Every month that starts on a Sunday has a Friday the 13th. And did you know that research on humans shows that in the short term, we tend to regret actions more than inactions. But in the long term, we’re m... (read more) Latest Video US-China reach Phase I trade agreement—Three experts on what it means for m... USTR confirms phase one China trade deal, outlines details in statement Former Commerce Secretary Carlos Gutierrez on US-China trade progress Business inventories matches expectations in October, sales revised down Around the Web Reuters Wall Street steady as U.S., China announce trade deal Reuters Fed policymakers see U.S. economy on good footing Reuters U.S. may impose tariffs on Chinese imports if any disputes: Kudlow Reuters U.S. may impose tariffs on Chinese imports if any disputes: Kudlow Reuters China to buy additional $32 billion in U.S. farm goods over two years, sign deal in January: USTR CNBC US weighing 100% tariffs on more EU products including whiskies and Cognac, according to documents Calculated Risk Blog Q4 GDP Forecasts: 0.7% to 2.0% Reuters Trump: U.S. to suspend scheduled tariffs after reaching deal with China CNBC The Fed is ramping up its repo operations to head off year-end funding issues CNBC US retail sales rose a less than expected 0.2% in November Reuters A U.S. 'deal in principle' with China on trade may be more limited than October pledge CNBC Congress reaches a tentative deal to fund the government as shutdown deadline nears Reuters U.S. offers China tariff rate cut; announcement 'imminent'

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