The Treasury Department has released the first in what it describes as a series of reports to the President looking at the country's financial regulatory system. The report, titled A Financial System That Creates Economic Opportunities, was mandated by Executive Order 13772 which instructs the Treasury Secretary to report the extent to which the existing financial regulatory system promote the Administration's "Core Principles" of financial regulation. Among its recommendations are substantial changes to the form and funding of the Consumer Financial Protection Bureau. The Core Principals specified in the report Empower Americans to make independent and informed choices in the marketplace, save for retirement, and build individual wealth. Prevent taxpayer-funded bailouts. Foster economic growth

June 14, 2017 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 Jun 14, 2017 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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: All About The Fed's Rate Hike Expectations Wed, Jun 14, 2017 8:32AM If you follow bond market movement for long enough, one thing becomes clear above all others: the Fed is the most reliable explanation for shifts in momentum.  That's not to say that bond markets are primarily driven by the Fed.  After all, one could argue that Fed policy is in a perpetual " chicken vs the egg " scenario with economic data and ot... (read more) MBS Live Recap: Bonds Sending Clear Message Ahead of Fed Tue, Jun 13, 2017 4:55PM The past 3 trading sessions have largely represented a consolidation in prices and yields, just off the best levels of the year.  There has certainly been a risk that rates were bouncing off those levels only to begin the next uptrend (much li... (read more) MBS Live Commentary: Differences Between Current and Previous FOMC Statements Wed, Jun 14, 2017 2:03PM (Additions underlined, deletions struck through) Information received since the Federal Open Market Committee met in March May indicates that the labor market has continued to strengthen even as growth in and that economic activity slowed. has been rising moderately so far this year. Job gains were have moderated but have been solid, on average... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:52PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:52PM EST Other News Treasury Issues First Recommendations for Regulatory Reform Wed, Jun 14, 2017 11:46AM The Treasury Department has released the first in what it describes as a series of reports to the President looking at the country's financial regulatory system. The report, titled A Financial System That Creates Economic Opportunities, was mandated by Executive Order 13772 which instructs the Treasury Secretary to report the extent to which the existing fin... (read more) Refinances Reawaken, Loan Size Highest in 9 Months Wed, Jun 14, 2017 8:28AM Another week of declining interest rates boosted refinance activity and sent overall mortgage activity higher during the week ended July 9. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage application volume, rose 2.8 percent on a seasonally adjusted basis from the week ended June 2. On a non-adjusted basis, there... (read more) FHA,VA Updates; Tech and Processing; Morgan's Home Loan App Tool Wed, Jun 14, 2017 8:59AM Depository banks are in the business to lend, and are now concerned about commercial lending. What do Cleveland, Memphis, and Chicago have in common? They're overbuilt. Cleveland alone has added 21 million (yes, million) square feet of retail space since 2000 just as e-commerce began to make retail space less valuable. Speaking of banking, lender Social Fina... (read more) Latest Video Fed raises rates US retail sales drop 0.3% in May vs 0.1% increase expected Mortgage apps up 2.8% on back of refi Around the Web CNBC Here's the Fed's new plan for shrinking its balance sheet CNBC The Fed maintains 2017, 2018 rate forecast Market Watch 2-year Treasury note on pace for sharpest daily yield drop since Brexit Calculated Risk Blog Key Measures Show Inflation mostly below 2% in May NAHB Eye on Housing CPI Slipped in May CNBC US businesses trim their stockpiles in April Market Watch The Fed: Even after weak data, Fed still seen hiking rates but not in September Reuters U.S. retail sales post biggest drop in 16 months CNBC US consumer prices dip 0.1% in May Calculated Risk Blog MBA: Mortgage Applications Increase in Latest Weekly Survey Bloomberg Bond Market Volatility Drops to Taper-Tantrum Lows as Fed Meets NAR - Realtor.com Does Anyone Remember How to Make a Subprime Mortgage? Market Watch Here's what the market thinks the Fed has got wrong

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