Given the rapid run-up in home prices over the last year, it's no surprise that loan limits will also be going up in 2019. The Federal Housing Finance Agency (FHFA) announced that the maximum conforming loan limits for mortgages eligible for acquisition or guarantee by the two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae will be $484,350 . The conforming loan limit as established by the Housing and Economic Recovery Act (HERA) is reviewed each year and adjusted as necessary to reflect the change in the average U.S. home price. The new limit represents a 6.9 percent increase over the $453,100 limit for 2018, the percentage by which FHFA's Housing Price Index (HPI) for the third quarter of 2018 increased on an annual basis. The new limit is considered the baseline for conforming

November 27, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Nov 27, 2018 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.67 0.00   95.05 99.96 UMBS 30YR 5.5 101.08 -0.01   97.47 101.28 10 YR Treasury 4.035 +0.006   3.932 4.780 MBS Live Day Ahead: Do Bonds Care About Oil's Slide? Also: New Loan Limits Tue, Nov 27, 2018 9:33AM Oil prices are always interesting to consider when it comes to bond markets.  After all, oil is a major cost input for the economy.  Even the "core" inflation readings, which disregard oil prices, are unable to account for oil's impact on... (read more) MBS Live Recap: Bonds Not Panicking Despite Finding Resistance Mon, Nov 26, 2018 4:39PM Most of today's bond market movement followed a single trade in the morning hours.  Someone with deep pockets bought a lot of 2yr Treasury debt and sold some longer-term debt in the process.  This type of "curve trade" (so named because its intent is to take a position on the movement of the yield curve) is common.  Curve trades are happenin... (read more) MBS Price Change UMBS 4.5 97.71 +0.02 UMBS 5.0 99.69 +0.02 UMBS 5.5 101.09 +0.00 GNMA 4.5 97.77 +0.07 GNMA 5.0 99.88 +0.05 GNMA 5.5 100.97 +0.08 Pricing as of: 10/15 5:33PM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.017 5 YR Treasury 3.622 +0.017 7 YR Treasury 3.808 +0.010 10 YR Treasury 4.032 +0.003 30 YR Treasury 4.624 -0.007 Pricing as of: 10/15 5:33PM EST Other News Loan Limits Increase to $484,350 Tue, Nov 27, 2018 1:05PM Given the rapid run-up in home prices over the last year, it's no surprise that loan limits will also be going up in 2019. The Federal Housing Finance Agency (FHFA) announced that the maximum conforming loan limits for mortgages eligible for acquisition or guarantee by the two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae will be $484,35... (read more) Home Prices Still Increasing - Just a Little Slower Tue, Nov 27, 2018 11:28AM The views about the direction of home prices diverged slightly in September, as those reported in the S&P CoreLogic Case Shiller indices slowed for the second month in a row while those from the Federal Housing Finance Agency (FHFA) for both September and the third quarter mostly kept chugging along. The Case-Shiller National Home Price index which cover... (read more) Black Knight: Delinquencies See Sharp Decline in October Tue, Nov 27, 2018 8:18AM Mortgage delinquencies spiked in the September "first look" report from Black Knight, but that was followed by a swift reversal in October. The company's latest report notes a sharp decline in early stage delinquencies and a downturn in serious ones as well. Loans that were more than 30 days past due but not in foreclosure fell 8.2 percent month-over-month a... (read more) Sales, Branding, Non-QM Products; "Don't Fight the Fed" When it Comes to Rates Tue, Nov 27, 2018 9:02AM Will today or tomorrow bring the 2019 Freddie and Fannie loan limit change announcement? Stay tuned, as it usually released soon after Thanksgiving. Is it arguably less impactful since many jumbo programs have lower rates than conventional conforming products since they don’t have guarantee fees, fit nicely into some portfolios, and have lower complian... 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