The second proposal for reform of the housing finance system in a week was just introduced by the National Association of Realtors® (NAR). Their "vision" for reform is centered on Fannie Mae and Freddie Mac (the GSEs). The future of the two companies, in federal conservatorship since 2008, barely got a mention in the outline for reform legislation released a few days ago by Mike Crapo (R-ID), chair of the Senate Bankin Committee. NAR unveiled its proposal, developed in collaboration with Susan Wachter, the Albert Sussman Professor of Real Estate and Professor of Finance at The Wharton School of the University of Pennsylvania, and Richard Cooperstein, head of Risk Management at Andrew Davidson and Company, Inc., before a sold-out forum audience of 400 on Thursday. The proposal says the GSEs

February 8, 2019 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 Feb 8, 2019 Big Day For Mortgage Rates Thu, Feb 7, 2019 5:37PM Thursday plays host to vastly more mortgage rate articles than any other day of the week. This has to do with the regular weekly release of Freddie Mac's mortgage rate survey (which many news organizations use as source material for one article per week on the topic. Freddie's data is great when it comes to tracking long term trends, but it doesn't account for day to day movements. For example, today's Freddie survey suggests rates are lower this week, but if we look at this Thursday afternoon vs last, we're not quite back down to those levels for the average lender. The good news is that last... (read more) 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 99.72 +0.04   95.05 99.96 UMBS 30YR 5.5 101.09 +0.01   97.47 101.28 10 YR Treasury 4.029 +0.001   3.932 4.780 MBS Live Day Ahead: At Risk of Moving The Goalposts Fri, Feb 8, 2019 9:52AM Whereas "moving the goalposts" has a negative connotation in general (referring to the changing of the rules in the middle of the game), it's a fairly common theme in the realm of technical analysis.  That seems horribly counterintuitive at fi... (read more) MBS Live Recap: Return of "Global Growth Concerns" Thu, Feb 7, 2019 6:48PM 2014 was marked by a sense of hope that helped both sides of the market (debt and equity) make solid gains heading into early 2015.  Rates in the US were falling as the ECB fought to unveil true quantitative easing (and because they may have rebounded from late 2013 highs anyway, following the taper tantrum).  Stocks were in the midst of an unpre... (read more) MBS Price Change UMBS 4.5 97.76 +0.07 UMBS 5.0 99.73 +0.05 UMBS 5.5 101.10 +0.01 GNMA 4.5 97.74 +0.04 GNMA 5.0 99.96 +0.13 GNMA 5.5 100.97 +0.07 Pricing as of: 10/15 6:03PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.013 5 YR Treasury 3.619 +0.015 7 YR Treasury 3.803 +0.005 10 YR Treasury 4.031 +0.002 30 YR Treasury 4.625 -0.005 Pricing as of: 10/15 6:03PM EST Other News NAR's Proposal to Restructure Fannie/Freddie Fri, Feb 8, 2019 11:08AM The second proposal for reform of the housing finance system in a week was just introduced by the National Association of Realtors® (NAR). Their "vision" for reform is centered on Fannie Mae and Freddie Mac (the GSEs). The future of the two companies, in federal conservatorship since 2008, barely got a mention in the outline for reform legislation releas... (read more) Housing Sentiment May Be Bouncing Back Thu, Feb 7, 2019 1:35PM Respondents to Fannie Mae's January National Housing Survey adopted a new outlook to go along with the new year, primarily in responses about their personal financial situation. As a result, the Home Purchase Sentiment Index (HPSI) increased 1.2 point to 84.7, taking back some of the 2.3 points it shed in December. The improvement was driven by an 8-point in... (read more) Automation Products; Nationwide Bank News; Slowing Europe Helping U.S. Rates Fri, Feb 8, 2019 9:11AM Here’s some trivia for today’s potluck in the Shipping Department: Las Vegas has 150,000 hotel rooms and spending a night in each would take you 411 years . Less trivial, a couple “sand states” over, Apis Cor, a Russian 3D printing construction company, and Sunconomy, a U.S. construction company, have received permits to build their f... 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