As the current issue of Black Knight's Mortgage Monitor was going to "press" mortgage rates dropped under 4.0 percent for the first time in more than a year. Black Knight spokesperson Mitch Cohen says the decline to 3.99 percent sent what the company considered the refinanceable population of homeowners up by 2 million in just a month and a total of 3 million in two months. Black Knight considers refinanceable homeowners as those who can both qualify for refinancing and would save at least 75 basis points by doing so. The company now counts 5.9 million potential refinancing candidates in that pool, the largest group in nearly three years. The figure below shows the distribution of potential refinance candidates across origination vintages as of mid-May, prior to the most recent pullback in

June 3, 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 3, 2019 Mortgage Rates Drop Well Into the High 3's Fri, May 31, 2019 4:16PM Mortgage rates were decisively lower today, following a massive market movement on news of new tariffs to be imposed on Mexico. In general, trade wars are economically negative. They hurt stocks and help bonds. When bonds are improving, it means bond prices are rising and yields (another word for "rates") are falling. Long-story short, investors are pricing-in a new reality where trade tensions do measurable damage to the global economy. This not only forces money out of stocks and into bonds, but it also implies lower inflation and increased odds of Fed rate cuts. The specific implication for... (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 Week Ahead: Bond-Friendly Global Growth Narrative Meets Econ Data Deluge Mon, Jun 3, 2019 9:17AM Trading weeks don't get much more action-packed that this.  Bonds are coming off a surprisingly stellar week.  After Trump turned his trade war comments toward Mexico on Thursday night, Treasuries and MBS surged well into the best levels ... (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 6:21PM 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 6:21PM EST Other News Prepayments, Refinance Pool, Affordability all Increase as Rates Decline Mon, Jun 3, 2019 10:50AM As the current issue of Black Knight's Mortgage Monitor was going to "press" mortgage rates dropped under 4.0 percent for the first time in more than a year. Black Knight spokesperson Mitch Cohen says the decline to 3.99 percent sent what the company considered the refinanceable population of homeowners up by 2 million in just a month and a total of 3 millio... (read more) Toll Brothers, Others, Turn to Build-to-Rent Fri, May 31, 2019 1:32PM Toll Brothers is embarking on a new business model that may, depending on your outlook, increase the rental stock, provide new opportunities for home builders, or further diminish new home sale inventories. The company has committed to invest $60 million in a $400 million venture that will build homes for rent in seven major U.S. cities. And it isn't just To... (read more) NAHB Has a New Way to Measure Housing Recovery Fri, May 31, 2019 10:38AM The National Association of Home Builders (NAHB) is introducing the latest in a series of indices it has employed to measure housing within a broader context of the economy. The first in our memory was the Improving Markets Index (IMI), introduced early in the recession and using 2007 as a benchmark to determine the post-downturn recovery of hundreds of citi... (read more) Closing, U/W Products; Vendor Capital Infusion; URLA Webinar, Training Mon, Jun 3, 2019 9:35AM If you had $85 million you could buy 85 $1 million homes in as many countries, or one apartment in Manhattan’s West Side that includes two Rolls-Royces, a Lamborghini, a house in the Hamptons for a summer, a yacht, Brooklyn Nets season tickets (that’s a plus?), weekly dinners at a Michelin-starred restaurant, a butler, a private chef for a year, ... (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 Calculated Risk Blog Update: Framing Lumber Prices Down Almost 50% Year-over-year Reuters Bond yields ease again as flight to safety continues Bloomberg JPMorgan Says Markets Have Yet to See Full Impact of Trade War Bloomberg Treasuries Are on Biggest Rally Since 2008 as Fed Rate-Cut Seen consumerfinancemonitor.com CFPB Updates TRID Rule FAQs to Address Construction Loans CNBC ISM Manufacturing Index 52.1 vs. 53 est. CNBC As mortgage rates plunge, millions more homeowners can benefit from refinancing Bloomberg Overview of Fannie/Freddie's Single MBS Security Roll-Out Calculated Risk Blog Black Knight Mortgage Monitor for March: Record Low National Delinquency Rate Reuters Pick your poison: For Fed, it's higher inflation or an inevitable return to quantitative easing Reuters Bonds 'on fire' as flight to safety gathers momentum Bloomberg Fed Funds Futures Now Show Two Cuts Fully Priced In This Year Reuters New front in trade war means Fed's dry powder may get burned

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