The balance sheet turned red again for mortgage lenders who reported financial data for the fourth quarter to the Mortgage Bankers Association (MBS). On average the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks surveyed for MBA's Quarterly Mortgage Bankers Performance Report reported a net loss of $200 per loan, down from a reported gain of $480 per loan in the third quarter of 2018. It was the second quarterly loss in the last 12 months and only the third since MBA began collecting the data in 2008. Marina Walsh, MBA's Vice President of Industry Analysis said, "Independent mortgage bankers continued to struggle in this very competitive mortgage market environment , with the average pre-tax net production income per loan reaching its lowest level since the inception

March 27, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 27, 2019 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Looking at The Rally With Science vs Psychology Wed, Mar 27, 2019 9:57AM "Science" may not be exactly the right term, but let's look at the recent bond market gains under an objective microscope.  In so doing, we will see there is more room for optimism than the psychological approach might suggest.  But first, ... (read more) MBS Live Recap: Bonds Run Out of Steam, But Not Composure Tue, Mar 26, 2019 5:51PM All things being equal, today was a fine day for the bond market.  Sure, 10yr yields ended the day 2bps higher than yesterday's latest levels, but in the recent context, they're better thought of as "sideways at the best levels in a long time."   When bonds have improved as rapidly as they have over the past week, traders are keenly on the l... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Low Volume and Competition Hurt Q4 Mortgage Profits Wed, Mar 27, 2019 12:08PM The balance sheet turned red again for mortgage lenders who reported financial data for the fourth quarter to the Mortgage Bankers Association (MBS). On average the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks surveyed for MBA's Quarterly Mortgage Bankers Performance Report reported a net loss of $200 per loan, down from a r... (read more) Mortgage Apps are Loving Lower Rates, Loan Sizes Set Another Record Wed, Mar 27, 2019 8:06AM The Mortgage Bankers Association (MBA) credited a strong start to the spring buying season for a big gain in mortgage applications during the week ended March 22. However, it appears that a surge in refinancing due to declining interest rates was an equal if not more important driver. MBA's Market Composite Index, a measure of mortgage application volume, in... (read more) Freddie Mac Mortgage Portfolio Increased by $200M in February Wed, Mar 27, 2019 11:06AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 3.0 percent in February, growing from 1.2 percent the previous month . The portfolio balance at the end of the period was $2.190 trillion compared to $2.184 trillion at the end of January and $2.096 trillion a year earlier. Purchases and Issuances totaled $24,... (read more) LO Jobs Nationwide; Digital Products; Lenders Changing What Borrowers Access and See Wed, Mar 27, 2019 9:42AM Despite finding programs to fit their borrowers being the emphasis for lenders, pricing and margins are a constant discussion topic. For lenders the decline in rates is good news, but for servicers, and servicing valuation, the decline in rates is great cause for concern as assets some thought would be on their books for years are suddenly a candidate for pa... 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