Ellie Mae's Origination Insight Report for February is headlined by both a decrease in closing times and, more significantly, further declines in mortgage interest rates. The company said the average interest rates for loans originated on its platform during the month was 4.86 percent. This was 15 basis points lower than the January average. Closing times were shortened by two days to 43. Timelines for refinancing were down three days to 35 and purchase loans took 47 days, two fewer than in January. Purchase loans represented 66 percent of the total, up 1 percentage point from the previous month. The share of adjustable rate mortgages declined to 7.6 percent from 8.6 percent. "Purchase percentages have increased following both the holiday season and the 30-year note rate decline," said Jonathan

March 21, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 21, 2019 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Day Ahead: Anything Other Than a Crushing Defeat is a Big Victory Thu, Mar 21, 2019 10:27AM In case you missed yesterday, it was a doozy.  Here are a few links that would help you get caught up: Here's Why Bonds Loved The Fed (And It's NOT The DOTS) Fed Officially Announces Big Bond-Buying Change yesterday's Fed Announcemen... (read more) MBS Live Recap: Here's Why Bonds Loved The Fed Today (And It's NOT The DOTS) Wed, Mar 20, 2019 6:00PM You may see news stories about the Fed shifting its rate hike outlook (conveyed in a dot plot often referred to as "the dots") to "zero hikes in 2019," but that's not today's big news.  Today's big story is exactly the one we were looking for: a concrete announcement on the Fed's bond-buying plans. Specifically, the Fed's previous policy of allowin... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 3:08AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 3:08AM EST Other News Both Closing Times and Pull Through Rates Improved in February Thu, Mar 21, 2019 10:47AM Ellie Mae's Origination Insight Report for February is headlined by both a decrease in closing times and, more significantly, further declines in mortgage interest rates. The company said the average interest rates for loans originated on its platform during the month was 4.86 percent. This was 15 basis points lower than the January average. Closing times we... (read more) Delinquencies Increase, But Still Down on the Year Thu, Mar 21, 2019 10:03AM Mortgage performance, usually at its best in February and March, because it is assumed that tax refunds allow people to catch up on financial obligations. But, with data in on February, Black Knight says this year may be an exception to that rule. In its First Look at the month's numbers the company says loan delinquencies rose in February for the first time... (read more) Homebuying Attitude Perked Up in Q1 Thu, Mar 21, 2019 8:11AM Consumer attitudes about buying a home seem to be slowly swinging back to positive . The National Association of Realtors ® , in its Housing Opportunities and Market Experience (HOME) survey for the first quarter, found 37 percent of respondents strongly believe now is a good time to buy. Only 34 percent expressed that sentiment in the fourth quarter 201... (read more) Vendor Management, Appraisal, and Compliance Products; FHA Changes Turning Heads Thu, Mar 21, 2019 10:33AM Want a growth industry? How about aging? PulteGroup's Del Webb 55+ brand will build 10 new Del Webb communities , planned to open over the next 18 months. Boomers welcome! Another growth industry is…Wite-Out?! Often used as the butt of jokes about using it to “fix” mortgage applications, correction fluid sales are doing fine (+1%) as Wite-... (read more) Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Calculated Risk Blog Black Knight: National Mortgage Delinquency Rate Increased in February Reuters The Fed is prodding Americans to buy more on credit NAR - Realtor.com As the Housing Market Shifts to Favor Buyers, This Remains the Biggest Hurdle Reuters Beneath Fed's positive spin, an embrace of a tepid future Calculated Risk Blog Existing Home Sales for February: Upside Surprise (Surprise for others) Reuters IMF supports U.S. Fed's 'patient' halt to rate hikes Bloomberg Scared of Stocks? Buy a House Instead Calculated Risk Blog Philly Fed Mfg "Improved" in March Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 221,000 CNBC Mortgage rates just tanked and they could go even lower CNBC Bank of England holds interest rates steady amid Brexit chaos Reuters Global stocks wilt as Fed shift sparks stampede into bonds Reuters Inside the Fed's balance sheet in four charts

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