What happens to homeowners and landlords when the federal, state, and local protections put in place during the pandemic go away? The Consumer Financial Protection Bureau (CFPB) is warning that the answer is hanging in the balance. Moratoria on foreclosures and evictions coupled with widespread availability of forbearance plans have held disaster at bay, but CFPB says 2.1 million families are behind at least three months on mortgage payments, and another 8.8 million are behind on rent. The aggregate 11 million represent 10 percent of total U.S. households. Homeowners alone are estimated to owe almost $90 billion in missed payments. The last time this many families were behind on their mortgages was during the Great Recession. "Put simply," the report says, " we have very little time to prevent

March 2, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 2, 2021 Brutal Week For Rates But There's Hope (Hopefully) Fri, Feb 26, 2021 5:49PM Rising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We've certainly been discussing it in recent newsletters ( especially last week's ). The rising rate narrative hit the mainstream this week as it was widely credited for doing damage to the stock market. Perhaps you even caught one of Thursday's many mortgage rate headlines citing the spike in Freddie Mac's weekly mortgage rate survey. Freddie reported a jump in 30yr fixed rates from 2.81 to 2.97, their biggest in nearly a year. Unfortunately, Freddie was low last week ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Recap: Much Better Day For Bonds. Dare We Discuss It? Tue, Mar 2, 2021 4:25PM Much Better Day For Bonds. Dare We Discuss It? A fairly flat morning gave way to an afternoon rally, especially for MBS.  10yr yields made "lower highs" for the 3rd day in a row today.  Getting "hopeful" has been dangerous for a month now.  While we don't know how dangerous it will prove to be thi... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News With Protections Expiring, Millions are in Danger of Losing Their Home Tue, Mar 2, 2021 10:28AM What happens to homeowners and landlords when the federal, state, and local protections put in place during the pandemic go away? The Consumer Financial Protection Bureau (CFPB) is warning that the answer is hanging in the balance. Moratoria on foreclosures and evictions coupled with widespread availability of forbearance plans have held disaster at bay, but... (read more) Home Price Appreciation Broke an 8-Year Record in January Tue, Mar 2, 2021 12:22PM CoreLogic says home prices in January were 10 percent higher than a year earlier. It was the first double digit increase in the company's Home Price Index (HPI) since November 2013 . The company had reported a 9.2 percent annual increase in December. The month-over-month increase in home prices nationwide, including distressed sales, was 0.9 percent. Frank M... (read more) Construction Spending Rising Twice as Fast as Expected Mon, Mar 1, 2021 4:00PM Construction expenditures started 2021 displaying the same imbalance between the growth of residential and non-residential spending that had dominated much of 2020. The U.S. Census Bureau said overall spending in January was at a seasonally adjusted annual rate of $1.522 trillion, 1.7 percent higher than in December and 5.8 percent above the rate in January ... (read more) New products, Fee Collection, Sales, VOE Tools; Events and Webinars: All This Week! Tue, Mar 2, 2021 10:18AM As a kid, magic tricks are amazing because we think there is magic. As an adult, magics tricks are amazing because we know there is no magic. Lenders know that financing a home is not magic, done through sleight of hand. Quite the opposite. Getting a mortgage while you’re grabbing a cup of coffee is misleading, and MLOs bear the brunt of educating borr... (read more) Latest Video Global growth expectations are driving rates, not inflation fears, says UBS... Senate Banking confirmation hearing for Biden's SEC and CFPB picks The 9am Bond Report - March 02, 2021 Avallone: The fear of the 10-year yield heading towards 2% and staying ther... Around the Web Reuters Fed officials emphasize policy 'patience' as outlook improves CNBC Guggenheim's Minerd says don't count on rising yields, believes U.S. could even see negative rates Reuters Analysis: Fixed-income markets wary of Fed decision on bank capital relief Freddie Mac Help for Homeowners and Renters CNBC Senators call for recurring stimulus checks, automatic unemployment insurance extensions Reuters U.S. House's Hoyer: House in near future to take up bill to raise minimum wage to $15 CNBC European markets edge higher as U.S. bond yields stabilize Calculated Risk Blog CoreLogic: House Prices up 10.0% Year-over-year in January Reuters Bond selloff eases but risk gauges flash orange CNBC Fed policy changes could be coming in response to bond market turmoil Reuters S&P 500 set for best day in nine months on vaccine, stimulus cheer Redfin One Year Later: The Coronavirus Pandemic's Impact on the U.S. Housing Market In 12 Charts CFPB New Report From Consumer Financial Protection Bureau Finds Over 11 Million Families At Risk Of Losing Housing

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