While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinquency rate includes all home loans that are 30 days or more past due, including those in foreclosure. The share of mortgages that were 30 to 59 days past due - considered early-stage delinquencies - was 2% in March 2019, up from 1.8% in March 2018. The March numbers continue a year-long trend i n which the overall delinquency rate each month has been lower than during the 4.7 percent average during the pre-crisis period of 2000 through 2006. Delinquencies tend to be seasonal, and the highest March rate was in 2010 at 11.1 percent. Other measures

June 20, 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 Jun 20, 2019 Mortgage Rates Mixed Despite Positive Reaction to Fed Wed, Jun 19, 2019 6:48PM Mortgage rates reacted favorably to today's Federal Reserve announcement and press conference--today's key events. But that doesn't mean every lender is in better shape than yesterday. The morning hours saw the bond market (which dictates rates) at weaker levels. Weaker bonds = higher rates, all other thing being equal. It wasn't until the 2pm Fed announcement that bonds began to improve, thus opening the window for mortgage lenders to issue new rates. Unfortunately, some lenders are less prone to mid-day reprices than others. There's also always a healthy fear of volatility in the bond market... (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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Day Ahead: Strong Trend Intact After Fed Day Thu, Jun 20, 2019 8:58AM In the day just past, bonds were primarily concerned with reacting to the Fed announcement, press conference, and updated economic projections.  Even though the Fed's median rate forecast for the end of 2019 remained unchanged, the average dropp... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Delinquency Rates Down Overall, but Larger Cities Feel More Pressure Thu, Jun 20, 2019 12:03PM While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinquency rate includes all home loans that are 30 days or more past due, including those in foreclosure. The shar... (read more) New Purchase/Renovation Loan Added to Freddie Mac Choices Thu, Jun 20, 2019 10:17AM Freddie Mac is announcing a new loan program to help address the need for affordable housing and encourage the renovation of older homes. The company says its new CHOICE Renovation loans will "provide homebuyers a flexible choice to purchase a home and finance the cost of renovations with a single-close mortgage, saving them both time and money." The mortgag... (read more) Google Commits $1 Billion to Bay Area Housing Thu, Jun 20, 2019 10:37AM If the rumors about housing in Silicon Valley are true, it is probably hard to recruit new employees if they fear they will have to live in an RV in WalMart's parking lot. Such a situation may have prompted Google to announce a $1 billion commitment to help provide more affordable housing in its backyard. Google CEO Sundar Pichai announced the investment in ... (read more) Database Sales, Closing Costs Products; Lender-Related M&A; What's Moving Rates Thu, Jun 20, 2019 10:13AM “Enable” is such a vague, over-used tech term. The same with “repurpose.” But over the next 10 years Google is going to “repurpose” (aka, re-zone) a lot of land and plans to invest $1 billion to “enable” the development of 20,000 new homes in the San Francisco Bay Area, including more than 5,000 affordable hous... (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 Powell May Have Outed Himself on the Dot Plot as Seeing Lower Rates - Bloomberg CNBC One major bank is holding the line, saying the Fed won't cut rates this year Bloomberg Trump Says Powell Will Do What's Right' on Interest Rates - Bloomberg Reuters Fed rate-cut hints power S&P 500 to all-time high Calculated Risk Blog Key Data Releases Before Next FOMC Meeting Reuters Fed rate-cut signal sends stocks surging, wounds yields, dollar Bloomberg Italian Economy Set to Contract at the Worst Possible Time CNBC Philadelphia Fed's manufacturing gauge tumbles in June, buoying the case for lower rates Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 216,000 Redfin May Home Prices Up 3.6%, the Largest Year-Over-Year Increase in 7 Months Bloomberg Powell Opens Door to July Rate Cut Amid Trump Uncertainty Bloomberg Treasury 10-Year Yield Slides Below 2% to Lead Global Decline Bloomberg Bond Traders Have the Fed Firmly on Their Side

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