Per loan profits of Independent mortgage banks and mortgage subsidiaries of chartered banks fell dramatically in the fourth quarter of 2017. The Mortgage Bankers Association (MBA) reported a net gain of $237 on each loan they originated down from $929 per loan in the third quarter of 2017. As bad as the quarter was, profitability was still higher than in the first quarter of 2017 when it dropped to $224. " Production profits plummeted in the fourth quarter of 2017 compared to the third quarter of 2017," said Marina Walsh, MBA's Vice President of Industry Analysis. "Purchase volume was lower in the fourth quarter, in part due to normal seasonality. At the same time, there was no substantial pickup in refinancings. While cash-out refinancings grew incrementally to 16 percent of overall production

March 23, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 23, 2018 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: Without a Rally, Bonds Build a Stronger Case For Resistance Fri, Mar 23, 2018 8:31AM The past 2 days represented a nice little run for bonds, but unfortunately it may end up looking like one of those fool's errands that was destined to hit an unmovable brick wall.  Actually, in this case, it would be more like a brick flo... (read more) MBS Live Recap: Stocks and Bonds Riding Same Train For Mostly Different Reasons Thu, Mar 22, 2018 5:38PM Today was simple and straightforward in one sense.  Stocks and bond yields (rates) were both moving lower, and that's something the two have been known to do when investors are moving away from "risk."  But the underlying reasons for the move lower only overlapped a little bit.  This was evident in the morning hours when each took turns lead... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.23 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.15 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:51PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.087 +0.048 30 YR Treasury 4.732 +0.042 Pricing as of: 9/9 5:51PM EST Other News Mortgage Profits Plummeted in Fourth Quarter Fri, Mar 23, 2018 1:10PM Per loan profits of Independent mortgage banks and mortgage subsidiaries of chartered banks fell dramatically in the fourth quarter of 2017. The Mortgage Bankers Association (MBA) reported a net gain of $237 on each loan they originated down from $929 per loan in the third quarter of 2017. As bad as the quarter was, profitability was still higher than in the... (read more) New Home Sales Still Falling, Prices and Inventory Up Fri, Mar 23, 2018 12:34PM There was much better news in February than in January regarding new home sales. Those sales had been reported down by 7.8 percent on top of a 9.3 percent decline in December. Sales pulled out of that nosedive last month, eking out an 0.6 percent increase from January. In addition, the January number was revised up from 593,000 to 622,000. The U.S. Census Bu... (read more) Not Everyone Benefits from Home Price Gains Fri, Mar 23, 2018 11:14AM Mortgage rates have increased 49 basis points since the first of the year, with the 30-year fixed rate mortgage (FRM) standing at 4.44 percent on March 15 according to Freddie Mac's Primary Mortgage Market Survey. Given the robust economic fundamentals, Freddie Mac's economists expect the Federal Reserve to continue tightening short-term rates and long-term ... (read more) Digital Lender Products; Update on Vendors; Rates Edge Higher Fri, Mar 23, 2018 9:14AM The Census Bureau defines millennials as those born between 1982 and 2000, which means this year their age ranges from 18 to 36. Many will argue that a 36-year old doesn’t have a lot in common with a current high school senior, but the Bureau has lumped them together forever. Regardless of age group, who doesn’t believe in reducing the difficulty... (read more) Latest Video Stocks fall as trade war fears heat up The Fed is slow to hike, but rates are still heading higher, says strategis... 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