In an opinion piece published by MarketWatch , the president of the nation's third largest non-bank lender says institutions such as his could find themselves in a tough situation should liquidity dry up. So tough, in fact, it could endanger the entire financial system. Sanjiv Das, CEO of Caliber Home Loans, says rising home prices which have made owning a home less affordable has also made life difficult for mortgage lenders. Originations have fallen, and after lenders reduce costs then "they are faced with the decision of whether to lower margins or credit standards . A "race to the bottom" such as occurred before the housing crisis isn't the only danger Das sees. Another is liquidity risk, the inability of a firm to meet short-term financial obligations such as a payroll. This risk is particularly

April 15, 2019 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 Apr 15, 2019 Mortgage Rates End Week at Highest Levels Fri, Apr 12, 2019 5:19PM Mortgage rates rose fairly quickly on Friday, depending on the lender and the scenario. Bonds (which dictate mortgage rates and interest rates in general) weakened overnight on a variety of foreign and domestic data. While we can't necessarily be sure that one particular development was more responsible for the move than another, we can observe that most of the damage followed news of surprisingly strong credit growth in China. This could stand to reason given that China and Europe are central to the cautionary economic stance taken by the likes of the Fed. In general, uncertainty about the gl... (read more) 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Week Ahead: Time to Find Out How Much China Matters Mon, Apr 15, 2019 10:12AM Ah China...  the US financial market's scapegoat of choice for many a swing that has nothing to do with China (with a few big, notable exceptions).  Last Friday brought the biggest day of bond market weakness we've seen in a while and Chi... (read more) MBS Live Day Ahead: Bonds Quickly Find Themselves Defending 2.55% Ceiling Fri, Apr 12, 2019 11:04AM The domestic bond market woke up this morning to find itself pushed up against the same ceiling that had offered a friendly bounce late last week.  Between now and then, we've seen solid enough progress to reinforce that ceiling, but now it is c... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:03AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.015 7 YR Treasury 3.785 +0.017 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.720 +0.030 Pricing as of: 9/9 7:03AM EST Other News Non-Bank Lender CEO on Why Companies Like His Could Cause Next Crisis Mon, Apr 15, 2019 3:48PM In an opinion piece published by MarketWatch , the president of the nation's third largest non-bank lender says institutions such as his could find themselves in a tough situation should liquidity dry up. So tough, in fact, it could endanger the entire financial system. Sanjiv Das, CEO of Caliber Home Loans, says rising home prices which have made owning a h... (read more) Homeowners Expecting Higher Appraisals than They Get Mon, Apr 15, 2019 10:56AM Homeowners are and should be proud of their homes, but that often leads them to think it has a higher value than does an appraiser and the difference between the two opinions increased significantly in March. Quicken Loans says the gap in its Home Price Perception Index grew by 25 percent compared to February. Part of the difference might be accounted for by... (read more) Marketing, HELOC Comp, Post-closing Products; New Broker Products Mon, Apr 15, 2019 8:41AM M&A grab current headlines (Freedom buying JG Wentworth’s mortgage biz being the latest) but it’s hard to put the past behind us, as an industry, when the past continues to grab them as well. “GE to pay $1.5 billion U.S. fine over crisis-era subprime mortgages.” The U.S. Department of Justice stated that GE concealed the poor qual... 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