The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose slightly in February. The Index, which measures any tightening or loosening of mortgage underwriting overall and by loan type, rose 0.6 percent to 180.1, indicating a relative easing of credit. The index was benchmarked to 100 in March 2012. The Conventional MCAI increased (1.1 percent), while the Government MCAI increased slightly (0.1 percent). Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 2.2 percent while the Conforming MCAI decreased by 0.2 percent. "Credit availability increased in February as a result of new jumbo offerings brought to the market, both for agency jumbo and non-agency jumbo programs," said Mike Fratantoni, MBA Senior Vice President and Chief Economist

March 7, 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 7, 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 Recap: Big Help From Europe; NFP Up Next Thu, Mar 7, 2019 4:47PM Today was all about the European Central Bank's surprisingly bond-friendly announcement and press conference.  Considering markets already expected (and had largely priced-in) a friendly ECB day, The fact that the ECB was able to deliver a rally-worthy release is impressive.   The details check out.  They said rates would stay low... (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 3:10AM 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 3:10AM EST Other News Credit Availability Rises for Jumbo, Low Credit Score Borrowers Thu, Mar 7, 2019 12:50PM The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose slightly in February. The Index, which measures any tightening or loosening of mortgage underwriting overall and by loan type, rose 0.6 percent to 180.1, indicating a relative easing of credit. The index was benchmarked to 100 in March 2012. The Conventional MCAI i... (read more) How Low Rates and Rising Prices Led to Negative Equity in a Few States Thu, Mar 7, 2019 11:37AM While homeowner equity increased overall during the fourth quarter of 2018, the number of homeowners with negative equity rose for the first time in 12 quarters. Homeowners who were underwater, owing more on their mortgage than the value of their home, rose by 35,000 although it declined year-over-year by 350,000 or 14 percent. The fourth quarter increase ra... (read more) Why Homebuyer Sentiment is Declining, Despite Stronger Economy Thu, Mar 7, 2019 10:04AM Fannie Mae's Home Purchase Sentiment Index (HPSI), a measure derived from the company's monthly National Housing Survey (NHS), was essentially unchanged in February , dipping 0.4 point from the January reading to 84.2. The Index is down 1.5 percentage points compared to February 2018. Fannie Mae said the largest change among the six index components was a 9-... (read more) Black Knight: Price and Rate Reductions Already Boosting Affordability Thu, Mar 7, 2019 10:16AM Earlier this week CoreLogic reported that the annual rate of appreciation in January, 4.2 percent, was exactly two-thirds the rate in January 2018. The Black Knight Mortgage Monitor essentially confirms that deceleration, reporting price increases dropping from 6.8 percent last February to 4.6 percent at year end. Ben Graboske, president of Black Knight's Da... (read more) LO Jobs; Underwriting, Marketing, Hedging Products; What is Moving Rates? Thu, Mar 7, 2019 9:37AM “Rob, one of my LOs was heard about a program that offers 97% 1st with no MI and up to a 105% CLTV with a community 2nd, when approved for the 1st, they’re approved for the 2nd. A shared appreciation model with 0% on the 2nd. True? I am not your “deal desk” but I think you’re talking about the “Lakeview No MI With Communit... 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