The number of homeowners in active forbearance plans fell again this past week. Black Knight estimates there are now 4.6 million people remaining in the plans which mortgage servicers are required to provide as part of the CARES Act package of COVID-19 economic relief. Those plans allow homeowners who claim a financial impact from the pandemic to temporarily skip or make partial mortgage payments. The June 16 count represents 8.7 percent of all active mortgages, down by 57,000 and 0.1 percentage point from the previous week. It is 158,000 fewer plans than at the peak during the week of May 22. The current plans represent just over $1 trillion in unpaid principal ($1,012 billion). Some 6.8 percent of all GSE-backed loans and 12.1 percent of all FHA/VA loans are currently in plans. While the

June 19, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 19, 2020 Investor Caution Helping Push Rates Back Toward Lows Thu, Jun 18, 2020 8:17PM Mortgage rates improved modestly today as investors remain cautious amidst rising coronavirus stats in several states. The experience of those states is fueling broader concern about a 2nd wave of the disease that may logically follow less efficient social distancing as various states and counties reopen for business. In general, when investors are feeling cautious or fearful (relatively), we tend to see things like the bond market do better while stocks do worse . That's not a hard and fast rule, but it' a fair generalization. This notion is supported in the current environment by the fact th... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.08 +0.00   97.47 101.61 UMBS 30YR 6.0 102.38 +0.00   99.66 102.50 10 YR Treasury 4.083 -0.001   3.621 4.780 MBS Live Recap: Putting MBS Underperformance in Perspective Fri, Jun 19, 2020 4:33PM Putting MBS Underperformance in Perspective Rates are low. Unless coronavirus wins, rates should continue to gradually move higher, but not in a straight line.  At times (like today), we may see the mortgage market weaken while Treasuries improve.  Today's video breaks that down in easily digestible detail.... (read more) MBS Price Change UMBS 5.0 99.46 +0.02 UMBS 5.5 101.07 0.00 UMBS 6.0 102.37 -0.01 GNMA 5.0 99.74 +0.01 GNMA 5.5 101.02 -0.03 GNMA 6.0 102.01 +0.04 Pricing as of: 9/9 11:07PM EST US Treasury Yield Change 2 YR Treasury 3.551 -0.017 5 YR Treasury 3.611 -0.016 7 YR Treasury 3.811 -0.022 10 YR Treasury 4.083 -0.001 30 YR Treasury 4.728 -0.007 Pricing as of: 9/9 11:07PM EST Other News Forbearance Numbers Continue to Retreat Fri, Jun 19, 2020 9:49AM The number of homeowners in active forbearance plans fell again this past week. Black Knight estimates there are now 4.6 million people remaining in the plans which mortgage servicers are required to provide as part of the CARES Act package of COVID-19 economic relief. Those plans allow homeowners who claim a financial impact from the pandemic to temporarily... (read more) Conventional Loans Stealing Market Share Thu, Jun 18, 2020 11:28AM The dominance of conventional lending continued to grow in May . Ellie Mae's Origination Insight Report says those loans made up 82 percent of originations during the month, up from 81 percent in April and 70 percent at the end of 2019. The FHA share has shrunk from 17 percent to 9 percent over that period and VA loans had a 6 percent share, down from 9 perc... (read more) Freddie Says Economic Stimulus Softened Pandemic's Impact Thu, Jun 18, 2020 10:43AM Freddie Mac's Economic and Housing Research Group says say that, heading into summer, the housing market is rebounding from the COVID-19 pandemic's damage faster than expected. Purchase demand is recovering, and any home price response has, so far, been muted. Still, the company's quarterly forecast is much more uncertain than usual. The report credits the g... (read more) Credit, QC, Ops Jobs; Broker, DPA Products; Residential Credit Changes Fri, Jun 19, 2020 8:55AM Lots in the news. Congratulations to the California MBA (and the MBA and lenders everywhere, since nearly 25% of residential loans come from California) which made news by being victorious in defeating AB 2501 . Kansas has added Alabama to its quarantine list (Alabama’s hospitals are at maximum capacity). These days, there are hundreds of news channels... (read more) Latest Video Quarles: Fed to add additional stress test scenarios for Covid-19 Businesses remain cautious despite promising new economic data Bailout mortgages down for third straight week How working from home could lengthen recession Around the Web Calculated Risk Blog Sacramento Housing in May: Sales decline 37% YoY, Active Inventory down 23% YoY Redfin Home Prices Flat, Other Indicators Suggest the Market is Rebounding from Coronavirus Shutdowns CNBC Fed adds coronavirus scenarios to this year's bank stress tests Calculated Risk Blog Q2 GDP Forecasts: Probably Around 33% Annual Rate Decline NAHB Eye on Housing Economic Well-Being of U.S. Households Calculated Risk Blog BLS: May Unemployment rates down in 38 states; 4 States at New Record Highs CNBC Fed's Rosengren reports 'tremendous interest' from businesses for loan program CNBC Gen Z borrowers are unaware of Covid-19 student loan relief programs, study finds CNBC Coronavirus mortgage bailout shrinks further, but bank-held loans are faring worse CNBC Treasury yields move higher ahead of Fed speeches Bloomberg China to Accelerate U.S. Farm Purchases After Hawaii Talks Calculated Risk Blog Lawler: Early Read on Existing Home Sales in May CNBC The economy is snapping back, but still has a long way to go, alternative data shows

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