While Irma is battering the Florida coast and costing untold billions in damages, Black Knight Financial Services released information about the ultimate costs to the housing finance industry of Hurricane Harvey. The disaster that struck primarily in the Houston/Port Arthur/Beaumont, Texas area may affect mortgage performance more than did Hurricane Katrina in 2005. Both the magnitude of the rainfall, which hit 50 inches in some locations, and the population of the area magnified the Hurricane's impact. The current edition of Black Knight's Mortgage Monitor says the FEMA-designated disaster areas have over twice as many mortgaged properties as did the areas ravaged by Katrina, 1.18 million properties versus 456,000, and at $179 billion, nearly four times the unpaid principal balance. The government

September 11, 2017 Download our Mobile App: Download our Mobile App: Housing News Harvey Loan Losses Could Top Katrina's While Irma is battering the Florida coast and costing untold billions in damages, Black Knight Financial Services released information about the ultimate costs to the housing finance industry of Hurricane Harvey. The disaster that struck primarily in... (read more) Rob Chrisman Warehouse Advice for Loans in Disaster Areas; Market Exec on Borrower Expectations Builder chatter? Builders in Texas, Louisiana, and Florida now have a choice: build new homes or help repair existing stock. Labor will be in short supply, as will materials. What about land? Prior to the hurricanes, after a successful spring selling... (read more) MBS Commentary MBS Live Day Ahead: Limited Data at First, Then Big Finish on CPI Bond markets are beginning the week in a defensive stance after insurance analysts report expected Irma-related losses to be lower than originally forecast.  Adding to the weakness is separate news that South Korea is supporting a full gamut o... (read more) Mortgage Rate Watch More New 2017 Lows For Mortgage Rates Mortgage rates were slightly lower today, despite moderate weakness in underlying bond markets. This would typically coincide with higher rates, but mortgage lenders haven't been moving in lock-step with markets amid this week's higher volatility. Th... (read more) Housing News Quantitative Easing Did Affect Risk-Taking, Lending Standards In response to the 2007-2008 financial crisis and the ensuing Great Recession, some central banks, including the U.S. Federal Reserve, put some unconventional monetary policies in place. Among these policies were large-scale asset purchase programs (... (read more) MBS Commentary MBS Live Recap: More About Consolidating Gains Than New Weakness With an absence of significant economic events and the storm of the century bearing down on the Southeast, trading activity was understandably a bit lighter than yesterday.  After a bit of morning volatility, bonds settled into a sideways patt... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/3 9:03PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/3 9:03PM EST Latest Video Interest rates will be higher at some point: Ron Weiner Inside Home Depot's disaster command center Santelli Exchange: Bond auctions may hold directional clues for rates Around the Web consumerfinancemonitor.com Upcoming programs on CFPB Arbitration Rule Reuters Lawsuits against Equifax pile up Calculated Risk Blog Leading Index for Commercial Real Estate "Slips" in August Reuters S&P 500 surges toward record high as fear fades CNBC Equifax tumbles nearly 8% as investors keep bailing after data breach builderonline.com Habitat Hammers Back Market Watch Fed is following a playbook written during World War II NAHB Eye on Housing Sources of Home Buyers and New Renters CNBC Harvey and Irma economic hit could total $200 billion: Moody's CNBC Navigating insurance claims, post Hurricane Irma CNBC JPMorgan: Irma will still be one of the 5 most costly hurricanes ever Market Watch Bond Report: Treasury yields climb as hurricane, North Korea fears ease builderonline.com Millennial Household Facts

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