Since the fourth quarter of 2016, lenders have increasingly reported to Fannie Mae that they have been loosening their home mortgage credit standards. The company's third quarter 2017 Mortgage Lender Sentiment Survey has those responses at a survey high. Fannie Mae attributes the apparent easing in part to increased competition. Across all loan types - GSE Eligible, Non-GSE Eligible, and Government - the net share of lenders who reported easing rather than tightening credit standards over the prior three months was up, ranging from a net of 12 percent for government loans to 25 percent for GSE eligible loans. Very few lenders said they were tightening standards - between 1 and 3 percent across loan types. When asked about their intentions for the next three months there were similar responses

September 25, 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 Sep 25, 2017 Mortgage Rate Resilience Continues Mon, Sep 25, 2017 4:37PM Mortgage rates held their ground yet again , and are finally starting to look resilient after a relatively sharp move higher over the past 2 weeks. This was true even before mid-day headlines put additional downward pressure on rates. The headlines in question quoted North Korean officials saying that the US had "declared war" and that North Korea had the right to shoot down US warplanes even outside North Korean airspace. When news headlines include the words "US, declares, and war" financial markets tend to respond, even if much of that response is driven by headline-reading trading algorith... (read more) 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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Day Ahead: Bonds Ponder Reversal as Month-End Approaches Mon, Sep 25, 2017 9:03AM The current week begins with bonds holding ground for a 3rd day after a fairly sharp selling spree in the preceding 2 weeks.  The big question is whether recent resilience marks a true shift away from that selling pressure or if it's merely a... (read more) MBS Price Change UMBS 5.0 99.75 +0.28 UMBS 5.5 101.25 +0.13 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.05 +0.22 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.13 -0.01 Pricing as of: 9/8 4:36PM EST US Treasury Yield Change 2 YR Treasury 3.494 -0.024 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.772 -0.029 10 YR Treasury 4.043 -0.044 30 YR Treasury 4.687 -0.082 Pricing as of: 9/8 4:36PM EST Other News Competition Lowers Credit Standards and Profit Expectations Mon, Sep 25, 2017 12:38PM Since the fourth quarter of 2016, lenders have increasingly reported to Fannie Mae that they have been loosening their home mortgage credit standards. The company's third quarter 2017 Mortgage Lender Sentiment Survey has those responses at a survey high. Fannie Mae attributes the apparent easing in part to increased competition. Across all loan types - GSE E... (read more) Housing Market "Funk" Doesn't Reflect Consumer Attitudes Mon, Sep 25, 2017 10:37AM Home sales might be a bit disappointing, but the National Association of Realtors® (NAR) says consumer attitudes about the economy are not the reason why . NAR's third quarter Housing Opportunities and Market Experience (HOME) survey found increasing confidence among respondents about the direction of the national economy and their own finances. There we... (read more) Black Knight: Home Prices Appear to Have Stabilized Mon, Sep 25, 2017 9:29AM After accelerating on a year-over-year basis through every previous month in 2017, the rate of home price appreciation appears to have stabilized in July , at least according to one of the major price indices. Black Knight Financial Services said on Monday that prices on its national Home Price Index (HPI) rose at a lower rate, not only on an annual basis, b... (read more) Training and Events; Freddie Mac's K-Deals; Top QC Issues Mon, Sep 25, 2017 9:23AM Think you have problems? What if you owned a mall and your main tenant is Toys “R” Us? As in the Toys “R” Us that declared bankruptcy. You aint alone: about $5.5 billion in CMBS (commercial mortgage backed securities) are exposed to Toys "R" Us bankruptcy. Like so many other retailers that are grappling with a significant amount of de... (read more) Latest Video North Korea accuses US of declaring war, says can take countermeasures I'd be 'truly stunned' if Trump considers Gary Cohn for Fed post: Axios rep... Financial conditions won't tighten materially if Fed takes it slow: Fidelit... Around the Web CNBC Economists at the Fed are worried about its ability to respond to future crises Reuters Fed policymakers clash on outlook for inflation CNBC The No. 1 mistake homebuyers make when trying to get a good deal Calculated Risk Blog Has The Fed Abandoned Its Reaction Function? Market Watch Fed's Evans won't support another rate hike until there are clear signs' of higher inflation NAHB Eye on Housing Homeowners' Equity Continues to Improve Calculated Risk Blog Dallas Fed: "Growth in Texas Manufacturing Activity Holds Steady" in September Fannie Mae As Market Pressures Mount, Lenders Continue to Ease ... Reuters Dudley sees Fed rate hikes; inflation weakness 'fading' Calculated Risk Blog Chicago Fed "Index points to slower economic growth in August" Reuters DR Horton cuts cash flow forecast 50 percent due to hurricanes Reuters Euro, bond yields drop as Germany's Merkel holds on NAR - Realtor.com Flip, Rent, or Hold: What's the Best Path to Real Estate Riches?

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