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: Housing News Could FHA's Recovery Lead to Reduced Mortgage Insurance Premiums? 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 ... (read more) Rob Chrisman Construction, Rental, and Reno Products; M&A Update; Training & Events for Dec. 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 mor... (read more) MBS Commentary MBS Live Day Ahead: Bonds Battle Back With Trade Headline Help 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 th... (read more) Housing News Home Price Gains Aren't For Everyone (Or Everywhere) 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. Aft... (read more) Housing News Construction Spending up 1.1% YoY, Private Sector Losing Momentum 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 trilli... (read more) Mortgage Rate Watch Mortgage Rates Reverse Course, Falling Quickly 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 r... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 7:14PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 7:14PM EST 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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