The financial situation for mortgage lenders brightened considerably in the first quarter of this year, although profitability is way down from post-recession peaks. The Mortgage Bankers Association (MBA) said the average gain on each loan originated by the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks responding to its survey was $285. In the fourth quarter of 2018 each loan originated resulted in a $200 loss and across the entire year the average per-loan profit was $367. Including all business lines (both production and servicing), 59 percent of the firms in the study posted pre-tax net financial profits in the first quarter, up from 44 percent in the fourth quarter. "Independent mortgage bankers experienced improvements in the first three months of the year

June 6, 2019 Download our Mobile App: Download our Mobile App: Housing News Mortgage Profitability, Costs, and Revenues All Surging in 2019 The financial situation for mortgage lenders brightened considerably in the first quarter of this year, although profitability is way down from post-recession peaks. The Mortgage Bankers Association (MBA) said the average gain on each loan originated... (read more) Housing News Lack of Mortgage Savvy May be Stifling Homeownership Fannie Mae's monthly National Housing Survey consistently shows that the vast majority of Americans would prefer to own rather than rent a home but are uncertain or mistaken about what qualifications are necessary to get a mortgage. Now the company h... (read more) Rob Chrisman Non-QM, Pricing, Reno Products; Vendor News; CFPB/Freedom Settlement Here on the 75th anniversary of D-Day, recall that, “Those who cannot remember the past are condemned to repeat it.” One could easily follow that with, “Those who remember the past can learn from it.” The death of Herb Sandler... (read more) Housing News NAR Letters Urges FHFA Director, Reform with Caution We can only guess at what the new director of the Federal Housing Finance Agency (FHFA) told members of the National Association of Realtors® (NAR) last month, but it certainly provoked a response. The Association sent a letter to Mark Calabria o... (read more) MBS Commentary MBS Live Day Ahead: Consolidation Continues In the day just past, bonds maintained a range that fell almost perfectly inside the range from the previous day.  The same was true of the previous day (Tuesday) and is also true so far today.  This sort of momentum builds a case for a s... (read more) Mortgage Rate Watch Mortgage Rates Steady to Higher Depending on The Lender Mortgage rates began the day very little changed versus yesterday's latest offerings. That meant another morning of access to the lowest rates since late 2017. As the day progressed, bond markets weakened and several lenders were forced to issue mid-... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.93 +0.09 Price / Yield Change MBS UMBS 5.5 99.93 +0.09 UMBS 6.0 101.63 +0.07 GNMA 5.5 100.07 +0.11 GNMA 6.0 101.48 +0.07 Pricing as of: 7/2 11:13PM EST 10 Year US Treasury 4.2602 -0.0196 Price / Yield Change US Treasury 2 YR Treasury 3.763 -0.025 5 YR Treasury 3.844 -0.024 7 YR Treasury 4.032 -0.024 10 YR Treasury 4.260 -0.020 30 YR Treasury 4.789 -0.019 Pricing as of: 7/2 11:13PM 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 Reuters U.S. mulls delaying threatened tariffs on Mexican products: Bloomberg CNBC Fed's Williams says the yield curve isn't a magic 'oracle' for predicting a recession Reuters Wall Street muted as rate cut bets temper trade tensions Brookings Institution How will we know when a recession is coming? Calculated Risk Blog Fed's Flow of Funds: Household Net Worth Increased in Q1 NAHB Eye on Housing Small City Single-Family Building Growth Slowing Calculated Risk Blog Las Vegas Real Estate in May: Sales Up 4% YoY, Inventory up 98% YoY Reuters Fed's Kaplan: Trade with Mexico 'overwhelmingly' in U.S. interests Calculated Risk Blog Trade Deficit Decreased to $50.8 Billion in April Bloomberg ECB Decides, Vote on Next ECB Head, Fed Beige Book: Eco Day Reuters Flare-up in trade tensions sours rate-hope rally Bloomberg U.S. Home Flippers Are Cashing Out Before Profits Get Slimmer NAHB Eye on Housing Builders' Use of Drones Remains Widespread, Mostly for Promotional Photos

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