Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The two components of the Conventional MCAI posted significant increases. The Conforming MCAI jumped 7.7 percent and the Jumbo component was up 2.2 percent, pushing the parent index up 4.8 percent compared to December. This was slightly offset by an 0.1 percent decline in the Government MCAI. "The growth in credit availability in January coincides with a housing market that is poised for a strong start to the year . Improvements were driven by the conventional segment of the mortgage market

February 9, 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 Feb 9, 2021 Mortgage Rates Slightly Higher Tue, Feb 2, 2021 3:44PM Mortgage Rates were steady to slightly lower yesterday even though prevailing trends in the bond market suggested caution. Today's trading is a different story. Granted, there haven't been any huge, dramatic moves, but today's bond market weakness adds a bit of evidence for a more cautious approach. In general, rates are biding their time in a low, narrow range (just slightly higher than the all-time low range seen at the end of 2020) before making their next big move. That "next move" is to-be-determined. It will take guidance from things like economic data, fiscal stimulus, major covid-relat... (read more) 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 5.5 101.30 +0.17   97.47 101.61 UMBS 30YR 6.0 102.45 +0.06   99.66 102.50 10 YR Treasury 4.037 -0.030   3.621 4.780 MBS Live Recap: Locking vs Floating After Underwhelming "Rally Day." Tue, Feb 9, 2021 3:18PM Locking vs Floating After Underwhelming "Rally Day." The recent losing streak in the bond market made it increasingly likely that we'd see a win this week.  Ideally, it would have aligned with a strong response to Wednesday's 10yr auction, but instead, we got a halfhearted version on Tuesday.  While this is... (read more) MBS Price Change UMBS 5.0 99.90 +0.27 UMBS 5.5 101.29 +0.16 UMBS 6.0 102.45 +0.05 GNMA 5.0 100.24 +0.24 GNMA 5.5 101.22 +0.09 GNMA 6.0 101.98 -0.03 Pricing as of: 9/15 6:05PM EST US Treasury Yield Change 2 YR Treasury 3.537 -0.016 5 YR Treasury 3.600 -0.030 7 YR Treasury 3.792 -0.024 10 YR Treasury 4.040 -0.026 30 YR Treasury 4.661 -0.021 Pricing as of: 9/15 6:05PM EST Other News Conforming Loan Standards Loosened in January Tue, Feb 9, 2021 11:35AM Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The two components of the Conventional MCAI posted si... (read more) November Delinquencies at Lowest Levels Since June Tue, Feb 9, 2021 11:27AM Mortgage delinquencies are continuing a slow retreat into pre-pandemic territory. CoreLogic's Loan Performance Report for November put the percentage of loans that were 30 or more days past due, including those in foreclosure at 5.9 percent. While this is still 2 points higher than the rate in November 2019, it is the lowest overall rate since the initial su... (read more) Buyers and Sellers Both More Upbeat in 2021 Tue, Feb 9, 2021 8:48AM Consumers expressed more positive sentiments toward the housing market as 2021 arrived, sending Fannie Mae's Home Purchase Sentiment Index (HPSI) a bit higher. The most significant gains came from increased optimism about the climate for selling a home. The index increased by 3.7 points to 77.7 in January, erasing at least a portion of its 6-point loss in De... (read more) MLO Jobs; Jumbo, Investor Programs; Processing Tools; MISMO Fee Update; Thoughts on Credit; Training and Events This Week Tue, Feb 9, 2021 9:13AM Yesterday I flubbed up by discussing the Administration’s proposal to eliminate credit unions and have the CFPB control the credit process . The article discussed eliminating credit bureaus , not unions, and fortunately the link was there. Credit unions are alive and well and continue to garner market share in residential mortgages. In fact, many will ... (read more) Latest Video Scott Wren: There's more risk-taking, markets will go higher Companies try to figure out when workers should return to the office What it will take to bring NYC's real estate market back The Bond Report - 9am - February 09, 2021 Around the Web Reuters In meeting with business leaders, Biden backs stricter income limits for stimulus checks Reuters 62.9 million doses of COVID-19 vaccines delivered, 43.2 million administered: U.S. CDC CNBC Biden and Yellen to meet with CEOs of JPMorgan, Walmart, Gap to talk stimulus CNBC A return to the office for workers may be coming as vaccinations increase Calculated Risk Blog BLS: Job Openings "Little Changed" at 6.6 Million in December Calculated Risk Blog Small Business Optimism Decreased in January Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Declines to 5.35%" Calculated Risk Blog Housing Inventory Weekly Update: At Record Lows Reuters Wall Street sets record closing highs on stimulus hopes, vaccine deployment CNBC CDC director warns Covid variants could reverse the recent drop in cases and hospitalizations Reuters U.S. COVID-19 cases and hospitalizations log biggest weekly drops since pandemic started Calculated Risk Blog Northwest Real Estate in January: Sales up 16% YoY, Inventory down 43% YoY Calculated Risk Blog Las Vegas Real Estate in January: Sales up 13% YoY, Inventory down 50% YoY

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