The Senate looks set to pass Senate Bill 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, which seeks to undo some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in the wake of the financial crisis. Sixteen Democrats joined 50 Republicans to allow a vote on the bill, sponsored by offered by Senators Mike Crapo (R-ID), Joe Donnelly (D-IN), and three other Democrats. The bill in its present form makes some changes to mortgage regulations, but there is concern about what it might look like if it survives to pass the House. The bill that passed out of the Senate Banking Committee amends the Truth in Lending Act to allow institutions with less than $10 billion in assets to waive some of the ability-to-repay requirements of the

March 12, 2018 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 Mar 12, 2018 Mortgage Rates Paradoxically Steady After Jobs Report Fri, Mar 9, 2018 3:53PM Mortgage rates must really like being where they are right now, because they've been at roughly the same levels for the past 5 days! Not only is this highly out of character for 2018, it's not even that common in general (might happen a few times a year, historically). And while the stability was relatively easy to reconcile during the first 4 days of the week, it comes as a surprise today. Reason being: the important jobs report was much stronger than expected and bond markets (which underlie rates) reacted in a clearly negative way. In other words, bonds suggested that rates should move noti... (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 Week Ahead: Key Inflation Data and Auctions Ahead of Fed Week Mon, Mar 12, 2018 9:34AM Thanks to February's lower day count throwing off the normal cadence of Treasury auctions, bond markets will have to take down 3 auctions in the first 2 days of the week.  Today, that includes 3 and 10yr notes, making for a fairly onerous glut ... (read more) MBS Price Change UMBS 5.0 99.74 +0.27 UMBS 5.5 101.27 +0.15 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.09 +0.27 GNMA 5.5 101.22 +0.09 GNMA 6.0 102.16 +0.02 Pricing as of: 9/8 4:52PM EST US Treasury Yield Change 2 YR Treasury 3.495 -0.023 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 4:52PM EST Other News Dodd-Frank Fixes Set for Senate Passage; House Poised to Pounce Mon, Mar 12, 2018 10:29AM The Senate looks set to pass Senate Bill 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, which seeks to undo some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in the wake of the financial crisis. Sixteen Democrats joined 50 Republicans to allow a vote on the bill, sponsored by offered b... (read more) Not all Recoveries are Created Equal Fri, Mar 9, 2018 9:50AM CoreLogic has been watching for signs of overvalued markets for some time. The company and its lead analysts Frank Nothaft, Molly Boesel, and Sam Khater have produced a special report "Evaluating the Housing Market Since the Great Recession," which plots the path that led to what can fairly be called a mixed recovery. Starting in December 2007 the country tr... (read more) Sales Workshops; Reports on Nonbank Lending; Amazon Mortgage? Mon, Mar 12, 2018 9:11AM Rates have gone up, refi volumes are dropping, and LOs are having plenty of discussions with potential borrowers about “rent vs. buy.” SmartAsset has now set up an interactive map that shows where buying a home, or renting, makes the most sense – page down a few times. (And yes, that is the company’s name.) The Changing Residential La... (read more) FHA and VA Updates; U.S. Economy Continues to Strengthen Fri, Mar 9, 2018 9:15AM Let’s end the week with a non-mortgage related note about nature. You Tube has a live webcam a live webcam in the San Francisco Presidio of a Red-Tailed Hawk nest. Not much happens when its dark, but recently an egg was laid! Hawks couldn’t care less about legal settlements, but Lehman Brothers Holdings Inc.’s bankruptcy estate will pay $2.... 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