The quarterly report from the Mortgage Bankers Association (MBA) based on its National Delinquency Survey seems like old times. MBA reports that most, if not all, of its performance data is back to pre-crisis levels. The mortgage delinquency rate, for example, was at its lowest since the second quarter of 2000 , 4.24 percent. That reflected a 47-basis point (bp) reduction since the first quarter and was 42 bps lower than a year earlier. Delinquencies retreated across all loan types during the quarter, and within those types were several even more impressive historic markers. VA delinquencies were at their lowest level since 1979 (3.90 percent) and the last time the FHA rate had been lower than 7.94 percent was in 1996. The Conventional rate posted its best number, 3.47 percent, since 2005.

August 24, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 24, 2017 Mortgage Rates Sharply Sideways Thu, Aug 24, 2017 2:35PM Mortgage rates haven't moved much at all recently. While that leaves us little to talk about if we're examining rate changes on a daily basis, it's a fair trade when the lack of movement is keeping rates in line with the best levels since November 2016. Only a handful of days have been any better than today, and all of them were recent. Moreover, most lenders didn't move enough from yesterday for there to be any detectable difference in today's rate sheets. In other words, it's just another day with the lowest rates of the year. What's it going to take for this to change? After all, it's not l... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.29 +0.16   97.47 101.61 UMBS 30YR 6.0 102.45 +0.05   99.66 102.50 10 YR Treasury 4.040 -0.026   3.621 4.780 MBS Live Recap: Bonds Pretend Not to Care About Jackson Hole Thu, Aug 24, 2017 4:50PM Bond markets have been generally rallying since early July.  The apparent inspiration for that rally was the sell-off that preceded it.  That weakness was driven by several comments from European Central Bank (ECB) President Mario Draghi that alluded to a tapering of ECB bond buying after the program expires in December.  Markets know t... (read more) MBS Price Change UMBS 5.0 99.91 +0.28 UMBS 5.5 101.29 +0.16 UMBS 6.0 102.45 +0.05 GNMA 5.0 100.24 +0.24 GNMA 5.5 101.23 +0.09 GNMA 6.0 101.98 -0.02 Pricing as of: 9/15 7:43PM EST US Treasury Yield Change 2 YR Treasury 3.537 -0.016 5 YR Treasury 3.600 -0.030 7 YR Treasury 3.792 -0.024 10 YR Treasury 4.040 -0.026 30 YR Treasury 4.661 -0.021 Pricing as of: 9/15 7:43PM EST Other News MBA Delinquency Data Setting Post-Crisis Records Thu, Aug 24, 2017 4:21PM The quarterly report from the Mortgage Bankers Association (MBA) based on its National Delinquency Survey seems like old times. MBA reports that most, if not all, of its performance data is back to pre-crisis levels. The mortgage delinquency rate, for example, was at its lowest since the second quarter of 2000 , 4.24 percent. That reflected a 47-basis point ... (read more) Existing Home Sales Hit 2017 Lows Thu, Aug 24, 2017 11:06AM Sales of existing homes, like those for newly constructed ones, performed poorly in July. The National Association of Realtors® (NAR) said today that those sales of existing single-family houses, townhouses, condos, and cooperative apartments slipped 1.3 percent from their June level to a seasonally adjusted annual rate of 5.44 million units, the lowest ... (read more) Foreclosure Inventory Finally Breaks 10-Year Low Thu, Aug 24, 2017 9:59AM It is hard to believe that it has taken more than a decade , but Black Knight Financial Services says the foreclosure inventory, after a 12,000-property decline in July, has finally fallen below 400,000. The last time the number of homes in some process of foreclosure was lower was in February 2007. The July decrease is part of a 150,000-home reduction in th... (read more) Lender Arrests; State-Level Lending Law Changes Thu, Aug 24, 2017 9:47AM Take your pick. A second home can mean endless headaches, unexpected costs, and shattered plans. On the other hand, a vacation home might mean a great time, something you can pass down to your kids, and, at this time of year, perhaps, prices for places are coming down. Here is a WSJ story about interesting things to consider before buying one. And Austin Nea... (read more) Latest Video There are no more low-priced homes Santelli Exchange: The redeployment of global capital Dallas Fed President Robert Kaplan: We will monitor government shutdown ver... Around the Web consumerfinancemonitor.com CFPB releases state-level data on student debt impact on older borrowers NAR - Realtor.com The New Gated Community: More Land, Fewer Neighbors CNBC A third of luxe real estate deals involve 'suspicious activity' Calculated Risk Blog A Few Comments on July Existing Home Sales Market Watch Fed watchers still fret about policy missteps as Jackson Hole gets under way CNBC Fed Chair Yellen set to deliver what could be historic speech in Jackson Hole Market Watch Fed's Kaplan says a market correction wouldn't necessarily be troubling' Market Watch We could do without investing commentary from the Federal Reserve's Janet Yellen Freddie Mac 30-Year Mortgage Rate Hits 2017 Low Market Watch Fearful of awakening market bears, Yellen and Draghi to tread softly at Jackson Hole CNBC US jobless claims rise slightly as labor market tightens CNBC Fed's George pushes for more rate hikes despite low inflation CNBC Wall Street awaits Janet Yellen and Mario Draghi

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