You can cut the numbers in several ways, but no matter the way it is reported, American households are in relatively good shape when it comes to mortgage debt. While this isn't a number many homeowners think about after they get up from the closing table, CoreLogic points out that it could be very important in the inevitable next recession. Ralph McLaughlin, writing in CoreLogic's Insights blog, says that mortgage debt fell to 64.6 percent of total household debt in the third quarter of this year, the lowest share since the first quarter of 1988 . Looked at another way, mortgage debt as a share of disposable household income it at 65.9 percent, the lowest since the second quarter of 2001. The total mortgage debt grew by a slight 0.1 percent in the third quarter to $10.3 trillion or $131,463

December 20, 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 Dec 20, 2018 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 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.048 +0.009   3.621 4.780 MBS Live Day Ahead: Too Early To Cue The Holiday Trading Vibes? Thu, Dec 20, 2018 9:03AM When bonds have been in a relatively strong trend for better or worse heading into the 3rd week of December, we tend to see a consolidation or a continuation (rarely a reversal).  That's good news for bonds, considering a consolidation or cont... (read more) MBS Price Change UMBS 5.0 99.72 -0.06 UMBS 5.5 101.25 -0.03 UMBS 6.0 102.49 -0.05 GNMA 5.0 100.04 -0.04 GNMA 5.5 101.20 +0.01 GNMA 6.0 102.14 -0.04 Pricing as of: 9/9 2:24AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.573 +0.011 7 YR Treasury 3.779 +0.010 10 YR Treasury 4.051 +0.012 30 YR Treasury 4.699 +0.008 Pricing as of: 9/9 2:24AM EST Other News Improved Household Debt Levels Could Insulate Against a Downturn Thu, Dec 20, 2018 12:01PM You can cut the numbers in several ways, but no matter the way it is reported, American households are in relatively good shape when it comes to mortgage debt. While this isn't a number many homeowners think about after they get up from the closing table, CoreLogic points out that it could be very important in the inevitable next recession. Ralph McLaughlin,... (read more) Higher Rates Reinvigorate the ARM Loan Share Thu, Dec 20, 2018 10:13AM It is still a tiny share, but Ellie Mae says, in its November Origination Insight Report that the percentage of adjustable rate mortgages (ARMS) originated in November was the highest since the company first tracked the data in 2011, 8.9 percent. Not surprisingly the increase in ARMs is directly correlated to the average 30-year rate, which jumped to 5.15 pe... (read more) FHFA Scorecard - More General than Aspirational Thu, Dec 20, 2018 10:11AM The 2019 goals for the GSE conservatorship are a good deal more general than those put forward on the yearly Scorecard from the Federal Housing Finance Agency (FHFA) in the early years of the recovery. Many of the goals outlined in 2012 and thereafter have been accomplished - setting limits on compensation for Freddie Mac and Fannie Mae executives, building ... (read more) Prepayment Activity at Recession Lows, Total Delinquencies Down YoY Thu, Dec 20, 2018 8:24AM Mortgage prepayment activity reached a 10-year low in November. Black Knight said, in its "first look" at the months mortgage data, that the character of prepays has been changing from a good indicator of refinance activity to one driven more by home sales. With refinancing activity fading and home sales entering its usual slow season, prepays fell by 14.95 ... (read more) Warehouse Predictive Products; Vendor News; Rate Hike Squeezing Lenders and Banks Thu, Dec 20, 2018 9:06AM All kinds of things are being found. A woman in Missouri’s tiny house ” was found after being stolen. Then New York Times found more money to pay its crossword puzzle constructors ($500 for a weekday edition). Of the $300,000 scattered from a Brink’s armored truck in New Jersey, $125,000 has been “found” and turned in. (My guess... (read more) Latest Video Fed faces credibility questions after rate increase Yale's Robert Shiller: Fed is being reasonable amid rate hikes Leon Cooperman: 'I don't think Powell laid an egg' during Fed press confere... Around the Web Reuters Traders see Fed cutting rates, not raising them, in 2020 Reuters Treasury chief calls market reaction to Fed 'overblown' Calculated Risk Blog California Existing Homes in November: Sales Down 13.4% YoY, Inventory Up 31% NAR - Realtor.com What Housing Slowdown? Home Affordability Hits a 10-Year Low Calculated Risk Blog Phoenix Real Estate in November: Sales down 8% YoY, Active Inventory up slightly YoY Reuters Signs of trouble so far just noise to a Fed that sees growth continuing Reuters Trump balks at government funding bill, raising shutdown fears Bloomberg Corporate Debt Crises Could Come Faster and Harder in 2019 CNBC Kevin O'Leary chides the Fed for claiming data-dependence while still forecasting two 2019 rate hikes Calculated Risk Blog Philly Fed Mfg "Indicators Remained Muted" in December Calculated Risk Blog Weekly Initial Unemployment Claims increased to 214,000 CNBC US Treasury yields tick lower as Fed hikes rates for the fourth time in 2018 CNBC Jeff Gundlach and his deputy think Fed's Powell made a mistake by tightening on 'autopilot'

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