At face value, the bonds that underlie the mortgage market didn't sustain too much damage today. If there was nothing else to inspire lender rate changes, we might not be too much worse vs yesterday. Unfortunately, there is an absolutely massive source of motivation that unexpectedly burst on the scene last night. If you're not already up to speed on it, READ THIS . As far as today is concerned, rates got torched . This is no surprise. Regulators just instantly doubled to fees they charge to provide guarantees for the mortgage market. Lenders will be forced to pay those fees on all loans that are already locked. Consumers will foot the bill for everything else. Strikingly, the pull-back from lenders is much bigger than the 0.5 points imposed by the GSEs because of the way the announcement was

August 14, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Pummeled By Regulatory Drama At face value, the bonds that underlie the mortgage market didn't sustain too much damage today. If there was nothing else to inspire lender rate changes, we might not be too much worse vs yesterday. Unfortunately, there is an absolutely massive sour... (read more) MBS Commentary MBS Live Day Ahead: Are Rates Ready To Be Done With This Correction? First thing's first, any conversation about rates in a mortgage market context would be incomplete without considering this week's regulatory drama.  Specifically, FHFA just more than DOUBLED G-fees for refinances.  Read all about it in the... (read more) Rob Chrisman Controller, MLO Jobs; ROI, Broker, AI, Jumbo Products; Compliance and State-Level Legal News Hundreds of thousands of people in the lending industry, their borrowers, and vendors are grappling with the refi price hit announced Wednesday evening by FHFA Director Calabria. From the Carolinas I received this from Rhonda M. “We are into th... (read more) Housing News Forbearances Decline for Second Week, Falling Below 4 Million Two entities, Black Knight and the Mortgage Bankers Association (MBA) have been tracking loans in forbearance plans since the start of the pandemic. They have diverged a bit in their numbers over the last half year, but both agree, in their most rece... (read more) Housing News MBA Predicts New Home Sales Surge in July The Mortgage Bankers Association (MBA) is predicting another strong month for new home sales. The association says its Builder Application Survey (BAS) data for July 2020 shows mortgage applications for new home purchases increased 39 percent compare... (read more) Housing News What Pandemic? Home Prices Continue Gains in Q2 Home prices continued to rise during the second quarter of the year, although at a slower pace than before the advent of the pandemic. The National Association of Realtors® (NAR) said its quarterly survey of metropolitan areas found that single-f... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% +0.02 0.00 15 Yr. Fixed 6.14% +0.02 0.00 30 Yr. FHA 6.38% 0.00 0.00 30 Yr. Jumbo 6.95% -0.03 0.00 7/6 SOFR ARM 6.24% -0.02 0.00 30 Yr. VA 6.40% 0.00 0.00 Updates Daily - Last Update: 6/5 15 Yr. Fixed Rate 6.14% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.04 0.00 15 Yr. Fixed 5.99% -0.04 0.00 Updates Weekly - Last Update: 6/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% +0.06 0.69 15 Yr. Fixed 6.21% +0.09 0.72 30 Yr. Jumbo 6.94% +0.09 0.72 Updates Weekly - Last Update: 5/21 MBS / Treasuries UMBS 30YR 5.5 98.98 -0.20 Price / Yield Change MBS UMBS 5.5 99.00 -0.19 UMBS 6.0 101.01 -0.14 GNMA 5.5 99.29 -0.17 GNMA 6.0 100.99 -0.12 Pricing as of: 6/5 8:47PM EST 10 Year US Treasury 4.3945 +0.0393 Price / Yield Change US Treasury 2 YR Treasury 3.914 +0.040 5 YR Treasury 3.988 +0.061 7 YR Treasury 4.202 +0.075 10 YR Treasury 4.394 +0.039 30 YR Treasury 4.879 0.000 Pricing as of: 6/5 8:47PM EST Latest Video Fed is going to have buy more Treasurys if we get a stimulus deal: Chief in... July retail sales rise 1.2 percent versus forecasts of 2.3 percent Industrial production data rises 3 percent versus 2.8 percent expected Consumer sentiment index beats expectations, 72.8 vs 71 expected Around the Web CNBC These business owners who took PPP money will have their loan forgiveness reduced Calculated Risk Blog Q3 Preview: Real GDP as a Percent of Previous Peak Redfin Home Prices Up 8% as Supply Fell 22% to a New All-Time Low in July Calculated Risk Blog Q3 GDP Forecasts Calculated Risk Blog Industrial Production Increased 3.0 Percent in July; Still 8.4% Below Pre-Crisis Level NAHB Eye on Housing Housing Rebound: Year-over-Year Gains for June Single-Family Permits CNBC Retail sales for July rose 1.2% vs. 2.3% estimate CNBC There's still a lot of confusion about stimulus checks CNBC The U.S. has already invested billions on potential coronavirus vaccines. Here's where the deals stand CNBC Treasury yields come off highs after jobless data beats estimates NAR - Realtor.com Why Refinancing Your Mortgage Is About To Get More Expensive CNBC Coronavirus relief stalemate could drag on for weeks Calculated Risk Blog Hotels: Occupancy Rate Declined 33% Year-over-year

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