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: 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 Jan 24, 2020 Mortgage Rates Maintaining Longer-Term Lows For Now Wed, Jan 22, 2020 4:22PM 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 quoted yesterday. It's a pleasant surprise to see rates as low as they are considering several economic reports have been quite strong recently. In general, stronger economic data tends to put upward pressure on rates. That was a risk today with today's Existing Home Sales report coming in at the best levels since early 2018. But econ data isn't the onl... (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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: The Obvious Bounce Could Be Too Obvious Fri, Jan 24, 2020 10:49AM 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 slightly more open to interpretation, but in any event is somewhere between 1.69 and 1.71. With yields movi... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.46 -0.07 GNMA 5.0 100.01 -0.07 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:51AM EST US Treasury Yield Change 2 YR Treasury 3.503 +0.015 5 YR Treasury 3.580 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.065 +0.026 30 YR Treasury 4.723 +0.033 Pricing as of: 9/9 6:51AM EST Other News Changes to FICO are on the Way Fri, Jan 24, 2020 9:44AM 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 b... (read more) Here's How The Average Loan Looked in December Thu, Jan 23, 2020 1:14PM 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 percent from 3.97 percent in November and the year's low of 3.93 percent in September. The refinance share across ... (read more) Foreclosures at 14-Year Low; Loan "Mortality" up 126% Annually Thu, Jan 23, 2020 10:25AM 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 indicator of mortgage loan prepayments, continues to increase, but at a slower rate. Mortgage delinquencies fell b... (read more) Client Engagement, Sales, API Products; Coronavirus Scare; ECB's Low Rates Fri, Jan 24, 2020 8:37AM 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 the fourth quarter in 2019 (and $60 billion of residential origination) but income didn’t meet expectation... (read more) 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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