Mortgage prepayment rates have continued to rise as interest rates move lower. Black Knight says prepayments increased by 24.31 percent in May compared to April and 32.17 percent on an annual basis. The company, in its "first look" at loan performance data for May, says the Single Monthly Mortality (SMM) rate, 1.23 percent, has more than doubled over the past four months and is at its highest level in more than two years. The national delinquency rate fell for the third consecutive month in May. There were 1.76 million loans that were at least 30 days past due but not in foreclosure, 3.36 percent of all mortgaged properties. This was the lowest level in Black Knight's records that date back to January 2000. Delinquencies fell by 3.03 percent or 52,000 loans compared to April and were down 107

June 24, 2019 Download our Mobile App: Download our Mobile App: Housing News Mortgage Prepays Continue to Mount, Doubling in Four Months Mortgage prepayment rates have continued to rise as interest rates move lower. Black Knight says prepayments increased by 24.31 percent in May compared to April and 32.17 percent on an annual basis. The company, in its "first look" at loan performanc... (read more) MBS Commentary MBS Live Day Ahead: Guarding Against a Technical Bounce Before Decision Time In the week just past, bonds were preoccupied with central bank communications.  Wednesday's Fed announcement was going to be the only game in town, but Draghi's speech at the SINTRA conference (which promised rate cuts and additional easing) se... (read more) Rob Chrisman Tons of Upcoming Training and Events; Loan Delivery and Construction Products I start the last week of June in Park City, Utah at a STRATMOR meeting and with a correction. In discussing tax laws in Saturday’s commentary I wrote, “The new law limits the deductibility of mortgage interest payments to $10,000, thereby... (read more) Mortgage Rate Watch Rates Catch a Break to Remain Near Long-Term Lows Mortgage rates were generally flat today, depending on the lender. Some were noticeably better while others were a hair worse. In both cases, rates are very close to the lowest levels since late 2016. Changes from Friday would most likely be measured... (read more) Housing News Many Larger Lenders Cut Back on FHA Lending Due to False Claims Act After the housing crisis and faced with a flood of insurance claims, FHA and the Department of Justice responded with enforcement efforts against lenders that had made underwriting mistakes , levying large fines, requiring more indemnification, and b... (read more) Housing News Existing Home Sales and Inventory Bouncing Back - Prices Too Existing home sales broke out of a two-month slump in May, rising by 2.5 percent compared to April and beating, by a considerable margin, analysts' consensus expectations. The National Association of Realtors® said sales of single-family homes, t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.82% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% -0.01 0.00 15 Yr. Fixed 6.07% -0.01 0.00 30 Yr. FHA 6.40% -0.01 0.00 30 Yr. Jumbo 6.92% -0.01 0.00 7/6 SOFR ARM 6.31% -0.01 0.00 30 Yr. VA 6.42% 0.00 0.00 Updates Daily - Last Update: 7/17 15 Yr. Fixed Rate 6.07% -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 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 99.13 +0.07 Price / Yield Change MBS UMBS 5.5 99.12 +0.06 UMBS 6.0 101.12 +0.06 GNMA 5.5 99.41 -0.05 GNMA 6.0 101.10 -0.06 Pricing as of: 7/17 6:01PM EST 10 Year US Treasury 4.4528 -0.0065 Price / Yield Change US Treasury 2 YR Treasury 3.907 +0.018 5 YR Treasury 3.990 -0.006 7 YR Treasury 4.208 -0.005 10 YR Treasury 4.453 -0.007 30 YR Treasury 5.011 -0.003 Pricing as of: 7/17 6:01PM 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 CNBC Fed's Kaplan says it's 'too early' to decide if interest rates need to be cut Bloomberg Mario Draghi Can Leave One Last Monetary Gift - Bloomberg CNBC Home Depot CEO says company hopes to cut costs to reduce impact of tariffs on consumer prices Calculated Risk Blog Housing Inventory Tracking Calculated Risk Blog Dallas Fed: "Texas Manufacturing Expansion Continues but Pace Slows" Calculated Risk Blog Chicago Fed "Index points to a pickup in economic growth in May" Bloomberg Central Bankers Score a Record for Investors, for Now - Bloomberg The Basis Point Latest 2019-2021 Predictions: Home Sales & Prices, Mortgage Rates & Loan Volume Reuters Trump says did not threaten to demote Fed's Powell: NBC interview NAR - Realtor.com Investors Are Buying More of the U.S. Housing Market Than Ever Before Calculated Risk Blog Hotels: Occupancy Rate Decreased Year-over-year CNBC The 6 US cities where it's easiest to buy a home on an average salary Calculated Risk Blog Q2 GDP Forecasts: Around 2%

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