Jumbo loans have historically been more expensive for borrowers than those the meet the "conforming" loan limit - which is currently set at $424,100. CoreLogic, in a new analysis, says that changed several years ago. Starting in mid-2013, borrowing through a jumbo loan has been cheaper than using a conforming one. In the first quarter of 2017, the difference averaged 21 basis points . Many jumbo loans are, in a sense, conforming as well, falling within those special loan limits set on a county by county basis for GSE and FHA lending in higher cost areas. By their nature these jumbos are not available to borrowers in many markets. It is unclear whether jumbo loans from private lenders are included in the analysis. Archana Pradhan, senior professional economist, writes in the CoreLogic Insights

August 9, 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 Aug 9, 2017 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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: Pain Trade Potential on Multiple Scales Wed, Aug 9, 2017 10:05AM There are several definitions of "pain trade" floating around on the web, and I'm not a huge fan of any of them.  The top google hit is particularly bad, despite having elements that do indeed jive with how the average trader might describe it. Ultimately, it's a concept that defies simple definitions, and ends up being one of those things that "yo... (read more) MBS Live Recap: Mostly Weaker, Bonds Battle Back on Korea Headlines Tue, Aug 8, 2017 7:15PM Bonds began the day in moderately weaker territory and continued to lose ground through the early afternoon.  After consolidating in extreme fashion over the past 2 weeks, stocks finally popped higher.  This is one of the few cases where I'm happy to give the stock movement some credit for the modest reaction in bonds.  It was right about th... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.75 -0.32 GNMA 5.5 101.06 -0.13 GNMA 6.0 101.99 -0.20 Pricing as of: 9/9 6:01PM EST US Treasury Yield Change 2 YR Treasury 3.560 +0.073 5 YR Treasury 3.618 +0.056 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.088 +0.048 30 YR Treasury 4.727 +0.037 Pricing as of: 9/9 6:01PM EST Other News Post-Crisis Paradox Continues as Jumbo Beats Conforming Wed, Aug 9, 2017 2:23PM Jumbo loans have historically been more expensive for borrowers than those the meet the "conforming" loan limit - which is currently set at $424,100. CoreLogic, in a new analysis, says that changed several years ago. Starting in mid-2013, borrowing through a jumbo loan has been cheaper than using a conforming one. In the first quarter of 2017, the difference... (read more) CoreLogic: Economic Tailwinds Aiding Mortgage Performance Wed, Aug 9, 2017 9:10AM CoreLogic reported on Tuesday that the national mortgage delinquency rate in May was the lowest in nearly a decade . The company's Loan Performance Insights Report for the month shows 4.5 percent of outstanding mortgages were in some stage of delinquency, that is 30 or more days past due or in foreclosure. This is an 0.8 percentage point decline since May 20... (read more) Refinancing Gains Ground on Lower Rates Wed, Aug 9, 2017 8:26AM Refinancing performed well during the week ended August 4, pulling the Mortgage Bankers Association's Market Composite Index higher. The Index, a measure of mortgage application volume, increased 3.0 percent on both a seasonally adjusted and an unadjusted basis compared to the week ended July 28. The share of refinancing applications rose to 46.7 percent of ... (read more) Conferences and Training; Wells, PHH settle; Tech Updates - Like your LOS? Wed, Aug 9, 2017 9:24AM A while back I was walking past a small group of a lender’s senior managers and one of them was joking, “With the money we’ll save by shutting down quality control, we can issue some truly spectacular apologies.” Can lenders doing $20-$40 million a month, 100-200 units, on thinner margins afford adequate QC and compliance departments,... 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