Improving loan performance doesn't make headlines any longer, but worth noting that the improvement is still good news. The Mortgage Bankers Association (MBA) says the first quarter of 2018 saw even more progress in reducing delinquencies, improvement noted across all categories of distress. The MBA's National Delinquency Survey shows a 54-basis point (bp) reduction in the overall delinquency rate compared to the fourth quarter of 2018 to a seasonally adjusted annual rate of 4.63 percent. It is also an 8-bps decline since the first quarter of last year. Delinquencies were down in all stages on a quarter-over-quarter basis. The 30-day bucket dropped 27 bps while the 60-day and 90-day delinquency buckets retreated 9 and 18 basis points respectively. The delinquency rate does not include loans

May 16, 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 May 16, 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 5.5 101.10 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Day Ahead: Without Yesterday, Today would look Awful Wed, May 16, 2018 9:30AM Today is starting out with just a hint of green on the screens.  While that's certainly much better than the alternative (some historical examples see multiple days of yesterday's level of selling), it's still really far from great , and nowher... (read more) MBS Live Recap: Bonds Tank; Yields Surge Past 2014 Highs Tue, May 15, 2018 5:06PM July 8, 2011.  That's how far you'd have to go back to see higher 10yr yields than we saw today.  At their worst, they were at 3.0945% .  At the close, it doesn't look like they'll be much better (currently trading in the 3.07+ range).  Up until today, the high had been 3.04%, both 3 weeks ago and on Jan 2, 2014.   When rates... (read more) MBS Price Change UMBS 5.0 99.48 +0.04 UMBS 5.5 101.09 +0.02 UMBS 6.0 102.40 +0.02 GNMA 5.0 99.77 +0.04 GNMA 5.5 101.04 0.00 GNMA 6.0 102.04 +0.06 Pricing as of: 9/10 6:08AM EST US Treasury Yield Change 2 YR Treasury 3.544 -0.024 5 YR Treasury 3.607 -0.020 7 YR Treasury 3.809 -0.023 10 YR Treasury 4.086 +0.002 30 YR Treasury 4.740 +0.005 Pricing as of: 9/10 6:08AM EST Other News The Economy, Employment, Rising Home Prices Whittle Away at Delinquencies Wed, May 16, 2018 12:51PM Improving loan performance doesn't make headlines any longer, but worth noting that the improvement is still good news. The Mortgage Bankers Association (MBA) says the first quarter of 2018 saw even more progress in reducing delinquencies, improvement noted across all categories of distress. The MBA's National Delinquency Survey shows a 54-basis point (bp) r... (read more) Refi Applications at 8-Year Low Wed, May 16, 2018 9:18AM Mortgage activity slowed again last week. The Mortgage Bankers Association said its Market Composite Index, which measures the volume of mortgage loan applications, was down on a seasonally adjusted basis by 2.7 percent during the week ended May 11 compared to a week earlier. It was the fourth consecutive week the composite lost ground. The index was down 3.... (read more) Housing Starts Weakened as Expected in April Wed, May 16, 2018 10:52AM The leading construction indicators performed generally as analysts had predicted in April, stepping back from March's solid increases in both permits and housing starts. Both sectors had been driven that month by surges in multi-family construction. The U.S. Census Bureau and the Department of Housing and Urban Development say that permits for private resid... (read more) Construction, Non-QM Products; MI Program Developments Wed, May 16, 2018 9:10AM What does a chief operating officer do, and how much do they make? For builders, the role is vague but is often the #2 person at the company. COO comp, however, for publicly-held builders is well documented. And they make some decent coin . MI News For those dealing with private MI (versus FHA & VA insurance), the mortgage insurance buzzword is “gr... (read more) Latest Video Rising rate interest rate environment to continue for 3-4 years, says exper... US home building tumbles in April How interest rates affect the housing market Around the Web Calculated Risk Blog Phoenix Real Estate in April: Sales down 9% or up 4%? consumerfinancemonitor.com CFPB Revises TRID Guides to Reflect Black Hole Fix NAR - Realtor.com Who Killed the Deal to Sell Your House? It Was an Inside Job Bloomberg Bond Yields at 3.5% Would Spur Stock Exodus, Credit Suisse Says Reuters Industrial production rises strongly; homebuilding tumbles Calculated Risk Blog Comments on April Housing Starts Bloomberg Macquarie Is Calling the End of the Great Bond Bull Market Freddie Mac Freddie Mac Prices $993 Million Multifamily K-Deal, K-F45 CNBC US/German bond yield spreads last hit these levels almost 30 years ago CNBC US manufacturing output rises, while past months were revised lower Bloomberg The $1300 US Rental Home Is So Hot the Canadians Are Bidding for It CNBC US home building tumbled in April, while permits fell CNBC The biggest risk to the bond market is not 3 percent yields: Wells Fargo

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