An increase availability of high balance loans helped drive the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) to a three-month high in May. MBA said the Index rose 1.5 percent to 180.6. An increase in the MCAI is indicative of loosening credit standards while a decline means those standards are tightening. All four components of the MCAI posted increases. The Conventional MCAI rose 2.0 percent from the April level and the Government index was up 1.0 percent. The Jumbo index and the Conforming Index were up 2.2 percent and 1.9 percent respectively. "The expansion of offerings across all loan types drove credit availability to its highest level in three months," Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting said. "In particular

June 12, 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 Jun 12, 2018 Mortgage Rates Brace For Volatility From Central Banks Tue, Jun 12, 2018 4:41PM Mortgage rates didn't move much today. That keeps them in line with some of the highest levels in nearly 7 years, though the same could be said for a majority of the days since mid-April. Rather than talk about where we are and where we've been, the hotter topic is where we may be going. Stop me if you've heard this one before, but rates could move higher or lower . That's always the case because the financial markets that underlie rates (and everything else, for that matter) are always doing their best to adjust today's prices for everything that can be known about the present and the future ... (read more) 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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Day Ahead: Ceilings to Watch if Weakness Continues Tue, Jun 12, 2018 9:46AM Bonds are starting the day in a slightly weaker stance yet again.  While we managed to come back from a weaker start yesterday, it's worth checking in with the important defensive ceilings.  If this week continues to be unfriendly, these ce... (read more) MBS Live Recap: Little-Changed After Uneventful Summertime Monday Mon, Jun 11, 2018 4:17PM History suggests that Fed/ECB meetings in June are more than up to the task of causing significant volatility in bond markets.  It also suggests that summertime Mondays often turn into unofficial 3-day weekends.  Both options are still on the table for this week as today just passed without any fanfare whatsoever.  Yields were slightly hig... (read more) MBS Price Change UMBS 5.0 99.55 -0.23 UMBS 5.5 101.14 -0.14 UMBS 6.0 102.44 -0.10 GNMA 5.0 99.86 -0.21 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.08 -0.11 Pricing as of: 9/9 12:11PM EST US Treasury Yield Change 2 YR Treasury 3.541 +0.053 5 YR Treasury 3.609 +0.047 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.088 +0.048 30 YR Treasury 4.738 +0.048 Pricing as of: 9/9 12:11PM EST Other News Credit Availability Climbs to Three-Month High in May Tue, Jun 12, 2018 11:55AM An increase availability of high balance loans helped drive the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) to a three-month high in May. MBA said the Index rose 1.5 percent to 180.6. An increase in the MCAI is indicative of loosening credit standards while a decline means those standards are tightening. All four componen... (read more) Record High Equity Thanks to Mortgage Credit Demographics Mon, Jun 11, 2018 4:29PM As the value of residential real estate rises with home prices, so has the owner's equity share of that value. Jing Fu, writing in the National Association of Home Builders' (NAHB) Eye on Housing Blog, says that equity hit a new high in the first quarter of this year. Fu uses figures from the Federal Reserve's Board of Governors' Financial Accounts of the U.... (read more) Processing, Warehouse, and Non-QM Products; Why Bank Mergers are Picking Up Tue, Jun 12, 2018 9:13AM Some banks have concluded they will have to support Libor after 2021 , when alternative rates are in place. The banks hope to avoid disruption from a sudden discontinuation of Libor. Why does it matter? Plenty of adjustable rate mortgages, and lender warehouse lines, are tied to it. We don’t need confusion. Upcoming Events Do you want to close more loa... 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