Mark Calabria, Director of the Federal Housing Finance Agency (FHFA) is stepping up his agency's actions to spring Fannie Mae and Freddie Mac (the GSEs) from their decades long federal receivership. Most recently he called on the mortgage industry to give feedback on FHFA's strategic plan which includes steps to do so. FHFA's strategic plan for fiscal years 2021 to 2024 lays out the framework for three key goals over the next few years: Ensure safe and sound regulated entities through world-class supervision. Foster competitive, liquid, efficient, and resilient national housing finance markets. Position the Agency as a model of operational excellence by strengthening the workforce and infrastructure. The third objective of goal 1 is to "Responsibly end the conservatorship" of the GSEs. In his

September 23, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Sep 23, 2020 Refresher on The New Refi Fee and Its Effect on Mortgage Rates Tue, Sep 22, 2020 4:55PM Fannie Mae and Freddie Mac are the two government sponsored agencies that guarantee timely payment of principal and interest to the investors who front the money that finances the American mortgage market. This guarantee means that more investors are willing to participate and at more advantageous rates for homeowners. Naturally, not every mortgage is repaid perfectly. Sometimes, payments are missed. In more serious situations, loans can end in foreclosure, short sales, etc. In those cases, the housing agencies are there to act as a backstop ensuring investors are made whole. In order to foot ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.41 -0.18   95.05 100.47 UMBS 30YR 5.5 100.98 -0.05   97.47 101.61 10 YR Treasury 4.114 +0.033   3.706 4.780 MBS Live Recap: Stocks Try to Help, But Bonds Stay Relentlessly Flat Wed, Sep 23, 2020 4:05PM Stocks Try to Help, But Bonds Stay Relentlessly Flat Econ data, Treasury auctions and Fed speakers all failed to move the needle.  Bonds only showed signs of life in response to new corporate debt issuance and a big sell-off in stocks.  The net effect left Treasuries and MBS effectively unchanged.  No ... (read more) MBS Price Change UMBS 4.5 97.31 -0.31 UMBS 5.0 99.40 -0.18 UMBS 5.5 100.98 -0.05 GNMA 4.5 97.47 -0.55 GNMA 5.0 99.61 -0.21 GNMA 5.5 100.85 -0.04 Pricing as of: 9/18 4:56PM EST US Treasury Yield Change 2 YR Treasury 3.571 +0.007 5 YR Treasury 3.672 +0.016 7 YR Treasury 3.862 +0.023 10 YR Treasury 4.114 +0.033 30 YR Treasury 4.730 +0.042 Pricing as of: 9/18 4:56PM EST Other News Ending Fannie/Freddie Conservatorship Still a Top Priority for FHFA Wed, Sep 23, 2020 3:56PM Mark Calabria, Director of the Federal Housing Finance Agency (FHFA) is stepping up his agency's actions to spring Fannie Mae and Freddie Mac (the GSEs) from their decades long federal receivership. Most recently he called on the mortgage industry to give feedback on FHFA's strategic plan which includes steps to do so. FHFA's strategic plan for fiscal years ... (read more) FHFA Says 2-Month House Price Gain was Largest Ever Wed, Sep 23, 2020 3:53PM Home prices rose another 1.0 percent in July, bringing the year-over-year gain to 6.5 percent according to the House Price Index (HPI) produced by the Federal Housing Finance Agency (FHFA). The agency also revised its previously reported 0.9 percent price change for June 2020 to 1.0 percent. All nine of the census divisions posted both month-over-month and a... (read more) Mortgage Application Gains Resumed Post-Labor Day, Forbearances at Recent Lows Wed, Sep 23, 2020 9:35AM Mortgage application activity rebounded last week from the previous week's Labor Day holiday lull. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of mortgage loan application volume, increased 6.8 percent on a seasonally adjusted basis and 18 percent unadjusted during the week ended September 18. The prior week's results include... (read more) Sales Jobs; Marketing, AMC, Subservicer Products; Company Webinars; GSE Changes Wed, Sep 23, 2020 8:54AM I know that plenty of folks at United Wholesale read this commentary, and the company is in the news about a merger that will take UWM public valuing it at $16 billion. Perhaps Bruce Springsteen reads this commentary, perhaps not, but he turns 71 today so Happy Birthday Boss! Out of curiosity, what does $500,000 buy, home-wise, in some of the cities and town... (read more) Latest Video Fed Chair Powell says more fiscal support is needed—Four experts are doubtf... United Wholesale Mortgage and Gores Holdings on the deal to go public via S... September Markit flash manufacturing PMI comes in at 53.5 vs 53.8 expected The Bond Report 9a: September 23, 2020 Around the Web Calculated Risk Blog NMHC: Rent Payment Tracker Shows Decline in Households Paying Rent in September Calculated Risk Blog AIA: "Architectural billings in August still show little sign of improvement" NAHB Eye on Housing New Homes Account for 3.7% of the US Energy Consumption CNBC Treasury yields climb ahead of data and Fed's Powell testimony Market Watch Fed's Rosengren says economy is more fragile than data suggests Reuters Fed's Evans says he doesn't fear 2.5% inflation, or even above CNBC $300 unemployment benefits end in at least 9 states as stimulus hopes fade Calculated Risk Blog Comments on August Existing Home Sales CNBC If you're home-rich but cash-poor, here's what to know about reverse mortgages CNBC Powell pledges the Fed's economic aid 'for as long as it takes' Redfin Affordable Areas Outside Big Cities Are Heating Up the Fastest As the Pandemic Changes Homebuyers' Priorities NAHB Eye on Housing Home Values, Owners' Equity Rise in 2Q20 Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Declines to 6.93%"

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