Paying bills on time is about to become more important for American consumers, and this as their debt levels are reaching new highs. Fair Isaac Corporation, the company which creates the FICO credit score models, will introduce two new ones this summer, the FICO Score 10, and the FICO Score 10- T. The company says its new models "incorporate trended credit bureau data to further enhance predictive power" and that lenders could reduce defaults by as much as ten percent among newly originated bankcards and nine percent among newly originated auto loans, compared to using FICO's previous models. The reduction , the company says, could be 17 percent for newly originated mortgage loans compared to the version of the FICO Score used in that industry. The trended credit bureau data to which Fair Isaac

January 24, 2020 Download our Mobile App: Download our Mobile App: Housing News Changes to FICO are on the Way Paying bills on time is about to become more important for American consumers, and this as their debt levels are reaching new highs. Fair Isaac Corporation, the company which creates the FICO credit score models, will introduce two new ones this summ... (read more) MBS Commentary MBS Live Day Ahead: The Obvious Bounce Could Be Too Obvious As the week comes to a close, we find bonds continuing to trickle toward the lower end of the range that has prevailed for nearly 3 months.  In terms of 10yr yields, the upper boundary is clearly established at 1.95%.  The lower boundary is... (read more) Rob Chrisman Client Engagement, Sales, API Products; Coronavirus Scare; ECB's Low Rates Yes, the change in FICO scores garnered some attention, but much of the focus is on Wells Fargo which just can’t stay out of the spotlight… for all the wrong reasons. Ten days ago we learned that the Bank had $2.9 billion of income in th... (read more) Housing News Here's How The Average Loan Looked in December The average interest rate on closed loans inched up in December and the share of those loans that were for refinancing moved lower. Ellie Mae's Origination Insight Report for the month says the average 30-year fixed rate in December rose to 3.99 perc... (read more) Mortgage Rate Watch Mortgage Rates Maintaining Longer-Term Lows For Now Mortgage rates remained in line with 3-month lows today for the average lender. Several lenders offered marginally better terms compared to yesterday, but in those cases, the only changes were to the upfront costs associated with the same rates quote... (read more) Housing News Foreclosures at 14-Year Low; Loan "Mortality" up 126% Annually Even though many of the measures are already at record lows, mortgage delinquencies continue to tick downward according to Black Knight's "first look" at December loan performance data. At the same time, the Single Month Mortality (SMM) rate, an indi... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 2:14PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 2:14PM EST Latest Video What the FICO changes mean for consumers Santelli Exchange: Doubleline Deputy CIO on the Fed and rates Nasdaq closes at record high even amid coronavirus scare Mnuchin: We planning more tax cuts despite budget deficit continuing to gro... Around the Web Reuters Wall Street slides as China virus concerns mount NAHB Eye on Housing U.S. Population Grows Slower CNBC Bonds look like they are flashing a warning for global markets Calculated Risk Blog Q4 GDP Forecasts: 1.2% to 2.2% CNBC El-Erian warns 'wonderful world of liquidity' lifting stocks no matter what won't last forever Calculated Risk Blog BLS: December Unemployment rates at New Series Lows in Eight States Reuters U.S. Treasury Secretary Mnuchin expects next China trade talks in 'near future' NAHB Eye on Housing NAHB 2020 "Priced Out" Estimates Calculated Risk Blog Sacramento Housing in December: Sales Up 12.7% YoY, Active Inventory down 38.8% YoY Reuters ECB's Rehn backs a flexible and symmetrical inflation target CNBC 10-year Treasury yield falls below 1.7% amid coronavirus fears Reuters Shares hold ground as China virus fears persist; euro hits seven-week low after ECB Calculated Risk Blog Hotels: Occupancy Rate Increases Year-over-year

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