The Department of Housing and Urban Development (HUD) is reducing the amount of equity that can be withdrawn from a home using either a Federal Housing Administration (FHA) or a Veterans Administration cash-out refinance. The new rules will limit the loan-to-value (LTV) ratio of FHA loans to 80 percent and VA loans to 90 percent. The FHA LTV limit for cash-out refinances is currently 85 percent. That change will apply to loans with case numbers assigned on or after September 1. The memorandum from HUD announcing the reduction says the department is taking action "to mitigate risks to the FHA Insurance Fund associated with increasing levels of insured loan balances on cash-out refinance mortgages. This new requirement is a prudent safeguard that permits FHA to ensure it stays ahead of any shift

August 1, 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 Aug 1, 2019 Mortgage Rates Are Actually Much Lower Today Thu, Aug 1, 2019 3:06PM Mortgage rates fell today, but by how much depends on the lender! This runs contrary to the average news story which contains some reference to rates being flat week-over-week (due to Freddie Mac's weekly rate survey data, which unfortunately doesn't account for big market movement on Thursdays and Fridays). There was a better case to be made for such things yesterday as the Fed drew a mixed reaction from the bonds that underlie mortgages. If you didn't catch it, yesterday's article is highly recommended for those who want to understand why the Fed rate cut had no effect on mortgage rates. HER... (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 Recap: Trump Wanted a Bigger Rate Cut, so He Pressed The Override Button Thu, Aug 1, 2019 4:07PM The world may never know if today's Trump tweets have anything at all to do with his stance on the Fed's fund rate, but one things for sure: they were single-handedly able to deliver another de facto rate cut.  I'll explain... The Fed cut its rates by 25bps yesterday, as expected.  Some pundits were calling for a 50bp cut.  Trump wanted th... (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 Rules Tighten on Government Backed Cash-Out Refinancing Thu, Aug 1, 2019 4:07PM The Department of Housing and Urban Development (HUD) is reducing the amount of equity that can be withdrawn from a home using either a Federal Housing Administration (FHA) or a Veterans Administration cash-out refinance. The new rules will limit the loan-to-value (LTV) ratio of FHA loans to 80 percent and VA loans to 90 percent. The FHA LTV limit for cash-o... (read more) GSE's Post Quarterly Profits; It all Goes to Treasury Thu, Aug 1, 2019 4:15PM Both of the government sponsored enterprises (GSEs) released second-quarter financial results this week. Each had, to varying degrees, better outcomes than in the first quarter of this year, but substantial losses compared to one year earlier. Freddie Mac reported a net income of $1.5 billion and comprehensive income of $1.8 billion in the second quarter of ... (read more) 2019 Residential Construction Spending Falling Further Behind Last Year Thu, Aug 1, 2019 4:17PM Construction spending in June missed matching the May level by 1.3 percent. Total spending by both public and private sources was at a seasonally adjusted annual rate of $1.287 trillion compared to that in May at the rate of $1.303 trillion. June's construction value was also lower than in June 2018 by 2.1 percent. On a non-seasonally adjusted basis, spendin... (read more) DPA Products; Upcoming Conferences and Webinars; Capital Markets Thu, Aug 1, 2019 9:57AM Well, we sailed through another perfectly good month, and many lenders had a superb July funding month. And there is great optimism about August’s numbers as well. Veterans, however, are watching locks to see how September is going to shape up. The MBA reports that applications have fallen for three straight weeks, not a recipe for success for many res... (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 Inflation Markets Send a Worrying Signal on the Fed's Stance - Bloomberg CNBC Trump says US will impose 10% tariffs on $300 billion of Chinese goods starting September 1 consumerfinancemonitor.com This week's podcast: What the CFPB's proposed debt collection rules mean for the mortgage industry CNBC Senate passes 2-year budget deal, sending bill to Trump CNBC Bond market fights Fed, interest rates drop sharply in blowout move Calculated Risk Blog July Employment Preview consumerfinancemonitor.com CFPB Reopens HMDA Proposed Rule Comment Period Calculated Risk Blog Construction Spending Declined in June HUD FHA Reduces Max LTV for Cash Out Bloomberg Cheaper Borrowing Propels Toronto New Condo Sales to Near Record CNBC US weekly jobless claims rise moderately builderonline.com Seattle Home Prices Take a Dip Bloomberg Powell Smashes Yield Curve Flatter by Sowing Doubts on Rate Cuts

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.