Like a rising tide, rising prices are pushing a lot of other financial elements higher. Earlier this week surging home prices drove a near $100K increase in conforming loan limits, now regulators have raised the dollar threshold for an exemption to the Truth in Lending Act (TILA) based on rising wages. Section 129H of TILA establishes special appraisal requirements for "higher-risk mortgages," termed "higher-priced mortgage loans" or "HPMLs" in the agencies' regulations. The Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA) jointly issued final rules implementing these requirements

December 2, 2021 Download our Mobile App: Download our Mobile App: Housing News TILA Appraisal Exemption Threshold Moves Higher Like a rising tide, rising prices are pushing a lot of other financial elements higher. Earlier this week surging home prices drove a near $100K increase in conforming loan limits, now regulators have raised the dollar threshold for an exemption to t... (read more) Rob Chrisman Homebuyer, Fee Collection, Loan Delivery Tools; Conv. Conforming Changes; IMB Profits Today, 20211202 (2nd December 2021), is a palindrome in the YYYYMMDD format. That aside, sorry the commentary is a little late this morning: I went out drinking after my yearly review with my cat Myrtle last night. It did not go well. By the way, she... (read more) Housing News Residential Construction No Longer Dominating Spending National spending on construction spending rose slightly in October, but for the second month in a row, the increase wasn't driven by the residential sector. The U.S. Census Bureau reported that construction put in place during the month was at a sea... (read more) Mortgage Rates Mortgage Rates Start Strong, But Ended Higher 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries MBS Live Recap: MBS Have an Underperformance Problem, But It's Complicated UMBS 30YR 5.5 99.74 +0.10 Price / Yield Change MBS UMBS 5.5 99.74 +0.09 UMBS 6.0 101.53 +0.09 GNMA 5.5 99.93 +0.08 GNMA 6.0 101.42 +0.08 Pricing as of: 7/7 3:42AM EST 10 Year US Treasury 4.3250 -0.0217 Price / Yield Change US Treasury 2 YR Treasury 3.857 -0.026 5 YR Treasury 3.911 -0.025 7 YR Treasury 4.101 -0.023 10 YR Treasury 4.328 -0.019 30 YR Treasury 4.853 -0.011 Pricing as of: 7/7 3:42AM EST Latest Video Inventory-starved market needs about 1 million more homes The 2pm Bond Report - December 2, 2021 300,000 homes could come into market as home ownership equity hits highs Initial jobless claims come in below estimates at 222,000 Around the Web Fannie Mae Barriers to Entry: Closing Costs for First-Time and Low-Income Homebuyers Calculated Risk Blog Rents Still Increasing Sharply Reuters Democrats, Republicans in U.S. Congress reach deal in government shutdown talks Calculated Risk Blog October Employment Preview CFPB Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans Calculated Risk Blog Hotels: Occupancy Rate Up 5% Compared to Same Week in 2019; Record Thanksgiving Week Occupancy CNBC Thousands could soon lose or sell their homes as Covid mortgage bailouts expire Reuters As shutdown looms, U.S. lawmakers agree on funding government through Feb. 18 CNBC Omicron Covid variant circulating for longer and more widely than first thought, experts say CNBC U.S. weekly jobless claims total 222,000 vs. 240,000 estimate CNBC Treasury yields mixed amid persistent omicron variant fears Calculated Risk Blog Fed's Beige Book: "Economic activity grew at a modest to moderate pace" Redfin Housing Market Update: For-Sale Home Supply Hits All-Time Low

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