CoreLogic says its Home Price Index (HPI) for February reflected an increase of 0.7 percent from January to February and that home prices nationwide were up by 4.0 percent. The monthly gain was higher than in January (up 0.1 percent), perhaps reflecting the approaching spring market, but there is definite deceleration on an annual basis. In February the year-over-year change was 4.0 percent, down from 4.4 percent in January and significantly lower than the February 2017 to February 2018 change, 6.7 percent. North Dakota was the only state that did not have an annual increase in home prices. The largest gains were in Idaho (10.2%), Nevada (8.9%) and Utah (8.7%). Frank Nothaft, CoreLogic's chief economist commented, "During the first two months of the year, home-price growth continued to decelerate

April 2, 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 Apr 2, 2019 Mortgage Rates Avoid Adding to Yesterday's Drama Tue, Apr 2, 2019 4:46PM Mortgage rates spiked quickly yesterday, moving up to the highest levels in more than a week and adding an eighth of a percentage point (.125%) to Friday's latest quotes. Even on Friday, rates were already arguably in the process of correcting higher from the lowest levels in well over a year. The speed of severity of yesterday's spike raised concerns about a broader correction from those long-term lows. After all, more than 80% of the improvement over the past few months was still intact. How much more of that would we need to give up before balance was restored? As it turns out, not any more... (read more) 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: What Do Bonds Care About Right Now, And Can The Answer Help Us? Tue, Apr 2, 2019 10:40AM It's no mystery at this point that the US bond market has exited its steep, directional, and super friendly move to long-term lows over the past few days.  While yields are starting the day in slightly better shape than yesterday, they're still ... (read more) MBS Live Recap: Pace Picks Up For Bond Market Mini Meltdown Mon, Apr 1, 2019 5:45PM First thing's first, there's not much about a 10bp gain in 10yr yields and nearly a half a point  of MBS weakness that would be considered "mini," but in the recent context, it only undoes about a quarter of the recent rally.  Plus, we have history with the word "meltdown," so I figured I'd qualify it in this case.  Things were bad from the ... (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 6:22PM 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 6:22PM EST Other News Affordability Gripes Slowing--But Not Derailing--Price Growth Tue, Apr 2, 2019 2:50PM CoreLogic says its Home Price Index (HPI) for February reflected an increase of 0.7 percent from January to February and that home prices nationwide were up by 4.0 percent. The monthly gain was higher than in January (up 0.1 percent), perhaps reflecting the approaching spring market, but there is definite deceleration on an annual basis. In February the year... (read more) UI Says GSE "Patch" has Race, Income Implications Tue, Apr 2, 2019 11:25AM Last fall the Urban Institute (UI) published a paper asking, "What, if anything, should replace the QM Patch?" Now Laurie Goodman, UI's Vice President, Housing Finance Policy, is writing that, as the patch's expiration nearing, new evidence shows an answer to that question is becoming crucial. The "patch" is part of the qualified mortgage (QM) rule developed... (read more) Recruiting, Non-QM, Broker Products; Tech Survey; Vendor News Tue, Apr 2, 2019 9:05AM “Probability tells you that a toddler has a 50-50 chance of putting their shoes on the correct feet. Parenting tells you otherwise.” Merging or acquiring is a costly exercise and participants hope that the probabilities are high of success. The latest news comes from Tennessee and involves FB Financial is selling its wholesale mortgage channel to... (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 Bloomberg This Time Is Different for the Yield Curve? They Said That Last Time - Bloomberg Reuters PM May seeks Brexit delay, compromise to break logjam CNN May pledges to abide by Parliament's Brexit decision CNBC Lagarde: Global economy is in 'a delicate moment' and 'losing momentum' Calculated Risk Blog Reis: Regional Mall Vacancy Rate increased Sharply in Q1 2019 consumerfinancemonitor.com CFPB Releases 2018 HMDA Data CNBC Home prices are about to heat up again as interest rates fall NAHB Eye on Housing Elevators Lack Popularity Among Home Buyers (And Other Unwanted Features) CNBC Bank of America says it will make $5 billion in mortgages to low and moderate income borrowers CNBC Residents in this metro area saw their taxes rise by more than $2,600 CNBC Real estate website Zillow expands into the mortgage business Calculated Risk Blog CoreLogic: House Prices up 4.0% Year-over-year in February Reuters U.S. core capital goods orders slip in February, shipments unchanged

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