Both Fannie Mae and Freddie Mac (the GSEs) will be expanding their low-income refinance programs to include those making at or below 100 percent of an area's median income (AMI). The threshold on the programs is currently at 80 percent of AMI. Sandra L. Thompson, acting director of the Federal Housing Finance Agency (FHFA) announced the change in her keynote address to the Mortgage Bankers Associations annual conference on Monday. Her agency, in monitoring the effects of the pandemic on different borrowers, found that, while many borrowers have taken advantage of the record low interest rates to refinance their mortgage, some population groups are at risk of being left behind. "We know through our long experience, including the Great Recession, that for those struggling with a mortgage, a meaningful

October 19, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Oct 19, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 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 5.5 101.29 +0.17   97.47 101.61 UMBS 30YR 6.0 102.45 +0.05   99.66 102.50 10 YR Treasury 4.032 -0.034   3.621 4.780 MBS Price Change UMBS 5.0 99.92 +0.29 UMBS 5.5 101.29 +0.17 UMBS 6.0 102.45 +0.06 GNMA 5.0 100.19 +0.19 GNMA 5.5 101.25 +0.12 GNMA 6.0 102.00 0.00 Pricing as of: 9/15 2:39PM EST US Treasury Yield Change 2 YR Treasury 3.534 -0.019 5 YR Treasury 3.601 -0.030 7 YR Treasury 3.783 -0.032 10 YR Treasury 4.032 -0.034 30 YR Treasury 4.649 -0.033 Pricing as of: 9/15 2:39PM EST Other News FHFA Announces Changes to Low Income Refi Programs and Appraisal Requirements Tue, Oct 19, 2021 2:08PM Both Fannie Mae and Freddie Mac (the GSEs) will be expanding their low-income refinance programs to include those making at or below 100 percent of an area's median income (AMI). The threshold on the programs is currently at 80 percent of AMI. Sandra L. Thompson, acting director of the Federal Housing Finance Agency (FHFA) announced the change in her keynote... (read more) Construction Numbers Fall Back from August Levels Tue, Oct 19, 2021 10:36AM Both permits and housing starts fell in September following an unanticipated increase the previous month. Where the August gains were driven primarily by strong multifamily construction activity, a decline in that sector hurt the September metrics. Permitting was especially weak, with the lowest seasonally adjusted annual rate since September 2020's nearly i... (read more) Call Center, LO Jobs; Post-Closing, Broker CRM, Correspondent Products; Conference Snippets; Weak Housing Numbers Tue, Oct 19, 2021 10:34AM The MBA's conference, which began with a capacity crowd at mPower , is packed with meetings and sessions, and I am sure glad that I’m not going between them in heels! (To paraphrase a joke about how, Fred Astaire was a great dancer, but Ginger did all those moves in heels and backwards.) Sure the Fed will start to taper (it’s been expected for mo... (read more) Latest Video I do worry that inflation pressures are far from transitory, says former Da... Housing starts down 1.6% vs. 0.3% decline expected, permits also miss The 2pm Bond Report - October 18, 2021 Zillow could restart buying homes early next year, former CEO guesses Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in September CNBC Federal Reserve Chair Powell's five measuring sticks on inflation aren't holding up very well CNBC Single-family rents are surging, and investors are flooding the market Calculated Risk Blog Most Housing Units Under Construction Since 1974 CNBC This could be the worst market for a first-time homebuyer, experts say Calculated Risk Blog Housing Starts Decreased to 1.555 Million Annual Rate in September Zillow Housing Market Continues to Creep Toward More Balance in September (September 2021 Market Report) CNBC 10-year Treasury yield struggles for direction, holds above 1.59 Calculated Risk Blog Housing Inventory Oct 18th Update: Inventory Down Slightly Week-over-week CNBC Homebuilder sentiment bounces back despite ongoing supply chain problems Calculated Risk Blog Industrial Production Decreased 1.3 Percent in September CNBC Nearly 10 million student loan borrowers will have their servicer switched by the end of the year CNBC Mortgage originations will drop 33% in 2022 as interest rates rise, according to industry forecast

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