The House Financial Services Committee (FSC) has begun to schedule hearings for the new year and several bills will be on the agenda that could potentially impact lenders and/or consumers . FSC's Subcommittee on Financial Institutions and Consumer Credit has two hearings on the docket in January, the third and fourth on "Legislative Proposals for a More Efficient Federal Financial Regulatory Regime" According to the committee's memorandum, the following measures will be under discussion. H.R. 1264, the Community Financial Institution Exemption Act. This bill seeks to amend the Consumer Financial Protection Act of 2010 (we assume this is a reference to Dodd-Frank) to exempt community financial institutions, (an insured depository institution or credit union with under $50 billion in combined

January 5, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% -0.02%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.03%   5.6% 6.59% 30 Yr. Jumbo 6.42% -0.01%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jan 5, 2018 Mortgage Rates Move Higher on Strong Economic Data Thu, Jan 4, 2018 3:46PM Mortgage rates moved higher today , following stronger economic data at home and abroad. In general, stronger economic data implies better growth, higher stock prices and higher rates. Although the traditional levels of correlation between data and rates have been thrown off for various reasons over the past year, we still see examples of that correlation from time to time. Today was one of those days. Economic data was stronger in Europe and Asia during the overnight session. This resulted in bond markets moving toward higher rates even before the domestic economic data came out. Today's most... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% -0.02 0.00 15 Yr. Fixed 5.82% -0.03 0.00 30 Yr. FHA 5.94% -0.04 0.00 30 Yr. Jumbo 6.42% -0.01 0.00 7/6 SOFR ARM 5.92% -0.13 0.00 30 Yr. VA 5.95% -0.04 0.00 Updates Daily - Last Update: 11/21 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% +0.02 0.00 15 Yr. Fixed 5.54% +0.05 0.00 Updates Weekly - Last Update: 11/20 Mortgage Bankers Assoc. 30 Yr. Fixed 6.37% +0.03 0.62 15 Yr. Fixed 5.83% +0.13 0.69 30 Yr. Jumbo 6.39% -0.07 0.42 Updates Weekly - Last Update: 11/19 UMBS 30YR 5.0 99.50 +0.17   95.05 100.11 UMBS 30YR 5.5 101.02 +0.13   97.47 101.40 10 YR Treasury 4.064 -0.020   3.932 4.780 MBS Live Day Ahead: We're Definitely Still Waiting For That New Year Momentum Fri, Jan 5, 2018 9:37AM I had my doubts at times, after some of this week's volatility.  I thought perhaps that bonds were showing signs that the "new year momentum" (a noticeable bias toward higher or lower rates that tends to emerge in January as traders are free to ... (read more) MBS Live Day Ahead: On Guard Against Early 2018 Momentum Thu, Jan 4, 2018 9:42AM If you happen to read and retain most of what I write, you'll have noticed that toward the end of December, I increasingly mentioned that it wouldn't be until the first full week in January (which is NEXT week) that we'd be more likely to see the fir... (read more) MBS Live Recap: Bonds Battle Back After Old-Fashioned Sell-Off Thu, Jan 4, 2018 4:44PM The overnight session and early morning hours saw a good, old-fashioned economic-data-driven sell-off in bond markets.  Asian and European data were  both stronger.  That resulted in about half of the day's total damage for longer-term bonds.  The biggest market mover of the domestic session was the ADP Employment report, which was much... (read more) MBS Price Change UMBS 4.5 97.55 +0.26 UMBS 5.0 99.50 +0.17 UMBS 5.5 101.02 +0.13 GNMA 4.5 97.36 +0.12 GNMA 5.0 99.68 +0.20 GNMA 5.5 100.88 +0.12 Pricing as of: 11/22 1:46AM EST US Treasury Yield Change 2 YR Treasury 3.510 -0.026 5 YR Treasury 3.619 -0.031 7 YR Treasury 3.814 -0.028 10 YR Treasury 4.064 -0.020 30 YR Treasury 4.712 -0.013 Pricing as of: 11/22 1:46AM EST Other News New Bills Could Impact Lenders, Deregulation Tops the Schedule Fri, Jan 5, 2018 10:11AM The House Financial Services Committee (FSC) has begun to schedule hearings for the new year and several bills will be on the agenda that could potentially impact lenders and/or consumers . FSC's Subcommittee on Financial Institutions and Consumer Credit has two hearings on the docket in January, the third and fourth on "Legislative Proposals for a More Effi... (read more) New Correspondent Program; Credit Underwriting Changes in Primary Markets Fri, Jan 5, 2018 9:11AM Today is “job’s day,” and it seems like many people I talk to in other professions have 2-3 jobs. (“Yeah, I graduated with a degree in physical therapy, so I do that from 8-11, then I paint houses from 12-4, and then from 5-7 I tend bar.”) NPR took the Census data and developed a map of the most popular job in each state 1978-20... (read more) Latest Video Santelli Exchange: Jobs report distortions BlackRock's Rick Rieder: Here's the bond market strategy for 2018 ISM non-manufacturing index at 55.9 in December Around the Web Calculated Risk Blog Earlier: Trade Deficit at $50.5 Billion in November Bloomberg Gary Cohn Says Government May Push Back Against State Tax Workarounds Calculated Risk Blog Comments on December Employment Report CNBC By all measures, a construction boom is shaping up for 2018 Reuters Fed's Harker says two rate hikes 'appropriate' this year Reuters Fed's Harker says two rate hikes 'appropriate' this year CNBC US factory orders rise for fourth straight month Calculated Risk Blog ISM Non-Manufacturing Index decreased to 55.9% in December Bloomberg Fed's Bullard Says Tax Overhaul May Light Fire Under Investment Calculated Risk Blog December Employment Report: 148,000 Jobs Added, 4.1% Unemployment Rate Calculated Risk Blog Final Update: 2018 Housing Forecasts Reuters St. Louis Fed's Bullard links tax bill with equity surge, stronger growth outlook Bloomberg California Says Wildfires Are Making Home Insurance Unaffordable

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