Higher interest rates pushed refinancing lower in August and lenders moved to generate more origination activity. That, in part, led to an increase in overall credit access. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) gained 3.9 percent to 123.7 during the month. An increase in the index indicates credit is loosening. The Conventional MCAI increased 7.6 percent, while the Government MCAI grew 1.1 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI was up 9.4 percent, and the Conforming MCAI rose by 5.1 percent. "Credit availability increased in August, driven by significant activity across all indexes," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "This expansion was heavily driven by

September 9, 2021 Download our Mobile App: Download our Mobile App: Housing News Credit Loosens as New Refi Programs Come on Line Higher interest rates pushed refinancing lower in August and lenders moved to generate more origination activity. That, in part, led to an increase in overall credit access. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability... (read more) Housing News Equity Explosion Bodes Well for Lenders American homeowners got $20,000 richer in the second quarter just sitting in their family room. Black Knight’s newest Mortgage Monitor says that was the average gain in borrower equity during the quarter as home prices continued to soar. Tappab... (read more) Rob Chrisman Ops, MLO Jobs; Lender Wanted; MBS Trading, CRM, Non-QM, Processing Products; Upcoming Events I don’t think I’ve ever made a call, in recent years, to any number that wasn’t “experiencing high call volumes…” Owners of lenders are certainly fielding plenty of incoming calls. Mergers and acquisitions, buyout... (read more) Mortgage Rates Mortgage Rates Lower Today, But Volatility Remains a Risk 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries MBS Live Recap: Strong Auction Trifecta Helps Bonds Hold The Range UMBS 30YR 5.5 99.93 +0.09 Price / Yield Change MBS UMBS 5.5 99.93 +0.08 UMBS 6.0 101.63 +0.07 GNMA 5.5 100.07 +0.10 GNMA 6.0 101.48 +0.07 Pricing as of: 7/2 11:25PM EST 10 Year US Treasury 4.2602 -0.0196 Price / Yield Change US Treasury 2 YR Treasury 3.764 -0.024 5 YR Treasury 3.845 -0.022 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.262 -0.018 30 YR Treasury 4.790 -0.019 Pricing as of: 7/2 11:25PM EST Latest Video Covid causes 1400 schools to close in the US—Here's how it affects the econ... The 9am Bond Report - September 9, 2021 Initial jobless claims drop 35,000 to 310,000 ECB leaves rates unchanged, to scale back asset purchases Around the Web Calculated Risk Blog Leading Index for Commercial Real Estate "Loses Steam in August" Calculated Risk Blog 6 Local Housing Markets in August Reuters European bonds rally as ECB keeps stimulus cut to a minimum Reuters U.S. weekly jobless claims near 18-month low CNBC Treasury yields ebb lower amid weak jobs data, growth concerns Reuters Analysis-Investors betting on 'stable' choice of Powell renomination at Fed CNBC European Central Bank announces a slowing of its pandemic bond-buying program CNBC Businesses are feeling stronger inflation and paying higher wages, Fed's 'Beige Book' says The Basis Point 63% of Americans think it's a bad time to buy a home. Nevertheless, 70% say they'll buy (not rent) if moving. Reuters U.S. job openings vault to record high as employers scramble for workers Calculated Risk Blog Black Knight Mortgage Monitor for July; Tappable Equity Rises to All-Time High of $9.1 Trillion CNBC Yellen urges Congress to raise debt limit, warns Pelosi that extraordinary measures will run out in October Calculated Risk Blog BLS: Job Openings Increase to Series High 10.9 Million in July

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