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: Housing News Low Volume and Competition Hurt Q4 Mortgage Profits 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 survey... (read more) Rob Chrisman LO Jobs Nationwide; Digital Products; Lenders Changing What Borrowers Access and See 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 gr... (read more) Housing News Mortgage Apps are Loving Lower Rates, Loan Sizes Set Another Record 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 ... (read more) MBS Commentary MBS Live Day Ahead: Looking at The Rally With Science vs Psychology "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) Housing News Freddie Mac Mortgage Portfolio Increased by $200M in February 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 ... (read more) MBS Commentary MBS Live Recap: Bonds Run Out of Steam, But Not Composure 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."&... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.77% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.77% -0.01 0.00 15 Yr. Fixed 6.03% -0.01 0.00 30 Yr. FHA 6.35% 0.00 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.36% 0.00 0.00 Updates Daily - Last Update: 7/22 15 Yr. Fixed Rate 6.03% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.50 -0.01 Price / Yield Change MBS UMBS 5.5 99.49 -0.02 UMBS 6.0 101.35 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 8:40AM EST 10 Year US Treasury 4.3574 +0.0114 Price / Yield Change US Treasury 2 YR Treasury 3.846 +0.017 5 YR Treasury 3.901 +0.016 7 YR Treasury 4.113 +0.015 10 YR Treasury 4.361 +0.015 30 YR Treasury 4.930 +0.013 Pricing as of: 7/23 8:40AM EST 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 Reuters S&P 500 slides, bond yields fall on slowdown worries Calculated Risk Blog Zillow Case-Shiller Forecast: Smaller YoY House Price Gains in February Reuters Britain's May says she will quit if her Brexit deal passes NAR - Realtor.com The Eviction Crisis Is Starting to Look a Lot Like the Subprime Mortgage Crisis CNBC Homebuyers face far fewer bidding wars as the housing market cools off Reuters UK parliament taking control of Brexit is worrying precedent: minister Reuters Trump expected to sign memorandum on federal housing finance reform Reuters UK PM May: I can deliver Brexit if lawmakers back my deal this week Reuters World shares slip and bond yields fall, all eyes on central banks CNBC Likely Fed nominee Stephen Moore thinks rates should be cut by half a percentage point Bloomberg Moore's Call for Fed-Rate Cut Jars With Board's Defense of Pause Bloomberg Here's Why U.S. Bond Yields Plunged So Much Over the Past Week CNBC Draghi says the ECB stands ready to act and could delay a rate hike again

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