The Federal Housing Finance Agency (FHA) had to be bailed out by the U.S. Treasury during the financial crisis after its Mutual Mortgage Insurance Fund was nearly depleted. Congress has long mandated a 2.0 percent ratio in its fund, but the agency's 2011 annual report reported the fund was down to 0.24 percent of its balance of guaranteed loans. In its annual report this November FHA reported the FY2019 capital ratio of the fund was 4.85 percent. This is a notable recovery , but even more so when compared to the ratio in FY2018, 2.76 percent. Both the forward portfolio with insurance on $1.2 trillion of mortgages and the reverse mortgage portfolio with insurance on $64 billion showed large improvements Urban Institute (UI) analysts Laurie Goodman and Edward Goldman took a deeper look at what

December 3, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.81% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 3, 2019 Mortgage Rates Reverse Course, Falling Quickly Tue, Dec 3, 2019 4:38PM Mortgage rates were up to the highest levels in 2 weeks yesterday, but that was then and this is now. In the wee hours of the morning, trade-related headlines rocked financial markets. This sent stock prices and bond yields (aka "rates") lower at a rapid pace. Mortgage lenders began the day in much better territory. By the middle of the day, they'd seen enough improvement to reissue rate sheets with even better terms. The average lender is now close to the lowest rates since October 9th. Interest rates are in an interesting spot right now. They're willing (and compelled) to pay attention to he... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.05 0.00 15 Yr. Fixed 5.81% -0.04 0.00 30 Yr. FHA 6.01% -0.04 0.00 30 Yr. Jumbo 6.30% 0.00 0.00 7/6 SOFR ARM 5.89% -0.06 0.00 30 Yr. VA 6.03% -0.04 0.00 Updates Daily - Last Update: 10/31 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 99.50 -0.06   95.05 100.11 UMBS 30YR 5.5 101.01 -0.04   97.47 101.40 10 YR Treasury 4.094 +0.018   3.932 4.780 MBS Live Day Ahead: Bonds Battle Back With Trade Headline Help Tue, Dec 3, 2019 9:03AM Yesterday saw bonds jump up to the highest yields in more than 2 weeks.  Culprits were diverse, including stronger overseas econ data and new trading positions being added for December's first trading day.  Domestic econ data helped stem the losses with ISM Manufacturing coming in weaker than expected. From a technical standpoint, the move was di... (read more) MBS Price Change UMBS 4.5 97.48 -0.09 UMBS 5.0 99.51 -0.05 UMBS 5.5 101.02 -0.04 GNMA 4.5 97.59 -0.05 GNMA 5.0 99.66 -0.07 GNMA 5.5 100.79 -0.03 Pricing as of: 11/3 8:55AM EST US Treasury Yield Change 2 YR Treasury 3.585 +0.011 5 YR Treasury 3.698 +0.015 7 YR Treasury 3.886 +0.013 10 YR Treasury 4.093 +0.018 30 YR Treasury 4.672 +0.019 Pricing as of: 11/3 8:55AM EST Other News Could FHA's Recovery Lead to Reduced Mortgage Insurance Premiums? Tue, Dec 3, 2019 1:54PM The Federal Housing Finance Agency (FHA) had to be bailed out by the U.S. Treasury during the financial crisis after its Mutual Mortgage Insurance Fund was nearly depleted. Congress has long mandated a 2.0 percent ratio in its fund, but the agency's 2011 annual report reported the fund was down to 0.24 percent of its balance of guaranteed loans. In its annua... (read more) Home Price Gains Aren't For Everyone (Or Everywhere) Tue, Dec 3, 2019 11:13AM Home prices increased on an annual basis by 3.5 percent in October according to CoreLogic's Home Price Index (HPI). The index rose 0.2 percent from the previous month. The rate of increase in home prices appears to have stabilized for the moment. After trending higher for several years, the HPI hit a recent peak of 6.62 percent in April 2018, then decelerate... (read more) Construction Spending up 1.1% YoY, Private Sector Losing Momentum Mon, Dec 2, 2019 12:05PM The nation's total spending on construction projects was at a seasonally adjusted annual rate of $1.291 trillion in October, 1.1 percent higher than a year earlier, but down 0.8 percent from the seasonally adjusted total in September of $1.301 trillion. On a non-adjusted basis there was $115.501 billion spent during the month. For the year-to-date (YTD), exp... (read more) Construction, Rental, and Reno Products; M&A Update; Training & Events for Dec. Tue, Dec 3, 2019 9:39AM There’s an old saying among economists regarding predicting the future. “You can put a date on it, and you can put a number on it, but you can’t do both.” Sure there will be a recession, eventually. Just like there will be more expansion, at some point. And the past is not always a reliable indicator of the future. But for those out t... (read more) Latest Video 'I do not believe that they will follow through with the December tariffs,'... US 10-year yield falls to lowest level since October 31, 2019 Trump's latest comments on China trade puts December tariffs in focus US threatens 100% tariffs on French goods Around the Web CNBC Jobs data, services gauge, Trump meets Merkel: 3 things to watch for Wednesday Federal Reserve Federal Regulators issue joint statement on the use of alternative data in credit underwriting Calculated Risk Blog Is the Future still Bright? CNBC Trump says Tuesday's market drop is 'peanuts' and won't force him to make a bad China trade deal Reuters Fear of expanding trade war sinks global equities; bonds rally Reuters EU says will seek immediate talks with U.S. over French digital tax Calculated Risk Blog CoreLogic: House Prices up 3.5% Year-over-year in October Reuters Trump says China trade deal might have to wait for 2020 election CNBC US-China trade war is 'unresolvable,' strategist says Calculated Risk Blog Update: Framing Lumber Prices Up Year-over-year NAHB Eye on Housing Gain for Construction Loan Volume During Third Quarter CNBC That big fourth-quarter growth scare looks like it's not happening Reuters As Trump heads to London for NATO summit, warnings on British election

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