Access to jumbo mortgage loans rebounded from a loss in February to drive the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) higher in March. The MCAI increased by 3.2 percent, rising from a 177.8 reading to 183.4. The MCAI analyzes data from Ellie Mae's AllRegs® business information tool to show relative credit risk/availability overall and for four loan types, conventional, conforming, government (VA/FHA) and jumbo. The composite index was benchmarked to 100 in March 2012. The Jumbo MCAI, which had fallen 4.4 percent the previous month due to consolidation of some jumbo loan programs, jumped 11.7 percent in March. The Conventional MCAI rose 4.5 percent and the government index gained 2.3 percent. Those increases were partially offset by a 2.6 percent

April 6, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Apr 6, 2017 Mortgage Rates Unchanged With Help From Fed Wed, Apr 5, 2017 4:42PM Mortgage rates were noticeably higher to begin the day, but most lenders offered mid-day improvements after the release of the hotly-anticipated Fed Minutes (from the March 14-15 meeting). For those that don't necessarily follow every little movement in the bond market, it's ironic that tend to move down just after the Fed releases big news that should imply higher rates. For example, in the case of the past 3 Fed rate hikes, day-to-day mortgage rates had been moving higher leading up to the hike and then generally moved lower after the hike was announced. If you've heard the phrase "buy the r... (read more) Rates Steady Near 2017 Lows Ahead of Jobs Report Thu, Apr 6, 2017 4:45PM Mortgage rates remained largely unchanged today, on average. Once again, there was a fair amount of volatility in bond markets (which dictate rates) during the day, but said volatility was contained in a narrow range that's persisted all week. In fact, all of this week's bond market movement has taken place inside the highs and lows set on Monday. There are less pleasant places for bonds/rates to be this indecisive. Indecision here means that rates continue to operate very close to their lowest levels of the year. Only a handful of days are better, and not by much. 4.125% remains the most prev... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Day Ahead: A Lull Before Tomorrow's NFP; Follow The Bouncing Stocks? Thu, Apr 6, 2017 9:17AM The day begins with a similar pattern shaping up to that seen in late March when the healthcare bill drama was highest.  Said drama translated to the biggest 90 minutes of losses in stocks since the election.  Yesterday's release of the F... (read more) MBS Live Recap: Bond Markets Relieved by Fed's Tame Balance Sheet Plans Wed, Apr 5, 2017 4:40PM Coming into today, we had two key options as far as potential market movers were concerned: economic data and the Fed Minutes.  On the data front, ADP Employment led the charge, coming in at 263k vs a 187k forecast.  That didn't bode well for bond markets, but some of the damage was mitigated by the downward revision to last month's 298k blast (now... (read more) MBS Price Change UMBS 5.0 99.54 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.43 -0.11 GNMA 5.0 99.86 -0.22 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.05 -0.13 Pricing as of: 9/9 12:15PM EST US Treasury Yield Change 2 YR Treasury 3.543 +0.056 5 YR Treasury 3.610 +0.048 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.736 +0.045 Pricing as of: 9/9 12:15PM EST Other News New Jumbo Lending Programs Drive Credit Access Higher Thu, Apr 6, 2017 10:09AM Access to jumbo mortgage loans rebounded from a loss in February to drive the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) higher in March. The MCAI increased by 3.2 percent, rising from a 177.8 reading to 183.4. The MCAI analyzes data from Ellie Mae's AllRegs® business information tool to show relative credit risk/ava... (read more) Freddie's $1.3 bln Risk Transfer; Lenders' New Channels and Products Thu, Apr 6, 2017 9:36AM Want a good statistic to demonstrate how tight the housing market is? 57% of all realtors have been involved in a sale with at least 10 offers on a single property in the past year . In fact, only 2% have not experienced a bidding war in the last year. In many areas Baby Boomers aren't moving, being perfectly happy where they are. The move-up buyer can't fin... 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