Conventional wisdom, according to the Urban Institute (UI), holds that small mortgages are riskier than large ones. That may be one reason that only one out of four homes sold for $70,000 or less in 2015 was financed with a mortgage compared to 80 percent of those sold for $70,000 to $150,000. Sarah Strochak and Alanna McCargo, writing in UI's Urban Wire blog say there are more than 600,000 homes for sale nationwide priced under $70,000, but it is hard for buyers to arrange financing because of the perception that the buyers of these homes have worse credit profiles and their loans don't perform as well. The two analysts have completed research which they say debunk this myth. Looking first at credit profiles, they found that those buyers who have been able to obtain small dollar mortgages

April 24, 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 24, 2019 Mortgage Rates Drop to Lowest Levels in More Than a Week Wed, Apr 24, 2019 4:39PM Mortgage rates moved lower at their best pace in several weeks today, with the average lender making it back to levels not seen since April 12th. The gains were bigger than normal for two reasons. First, bond markets had improved slightly yesterday afternoon, but not enough for lenders to adjust their rate sheet offerings for the better. Thus, they had to play a bit of catch-up with this morning's rate sheets. The bigger factor was the additional bond market strength seen throughout the overnight trading session and well into the domestic trading hours. In general, bond market "strength" means... (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 Day Ahead: Add Australia to The List of Overseas Economies Moving Markets Wed, Apr 24, 2019 9:19AM We can go years at a time without so much as a mention of Australia--at least not as it relates to the global economy.  But now for the 2nd time in as many weeks, we've seen a noticeable market impact from the goings on in the merry old land of ... (read more) MBS Live Recap: Week's Important Events Still to Come Tue, Apr 23, 2019 4:13PM With each passing day this week, we're reminded that the most important events are yet to come.  In fact, we may well be looking at only one significant event in the form of Friday's Q1 GDP reading.  There are a few other contenders before that but none with nearly as much street cred as the 1st GDP report for the quarter. Incidentally, next we... (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 7:02AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:02AM EST Other News Urban Institute Debunks Myth of Risky Small-Dollar Loans Wed, Apr 24, 2019 10:45AM Conventional wisdom, according to the Urban Institute (UI), holds that small mortgages are riskier than large ones. That may be one reason that only one out of four homes sold for $70,000 or less in 2015 was financed with a mortgage compared to 80 percent of those sold for $70,000 to $150,000. Sarah Strochak and Alanna McCargo, writing in UI's Urban Wire blo... (read more) Purchase Volume Takes a Hit, Responding to Rising Interest Rates Wed, Apr 24, 2019 8:11AM Rising interest rates continued to take a toll on mortgage applications during the week ended April 19. Even purchase mortgage volume fell victim to the increasing rates after rising for six consecutive weeks. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, declined by 7.3 percent on a se... (read more) Non-QM, Document Products; News From FHA, VA, HFAs; Compass and API Wed, Apr 24, 2019 9:08AM How often do you buy candles at retailer Pier 1? Me neither. Due to poor earnings Pier 1 Imports announced it will close another 45 stores (up to 150 if certain targets are not met). Sometimes reporters are prone to sensationalizing things (watch the folks in the background) but one thing that doesn’t need to be sensationalized are recent statements by... (read more) Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web NAHB Eye on Housing Conventional Mortgages Outpace Government Mortgages for Purchase NAR - Realtor.com Fannie and Freddie's Uncertain Future, Explained builderonline.com Short Term Rentals Spark Lawsuit in Bend Ore. CNBC Trump's Fed pick Moore in trouble again, once called Cincinnati and Cleveland 'armpits of America' Calculated Risk Blog Philly Fed: State Coincident Indexes increased in 37 states in March CNBC Uneven housing recovery persists, with some markets still behind their pre-recession peak Calculated Risk Blog New Home Prices CNBC Maybe inflation is not dead as many major companies say they are raising prices NAR - Realtor.com 2019's Housing Market Is Likely to Be Stronger Than We ThoughtHere's Why CNBC 10 of the best places to buy a home instead of renting Reuters S&P 500 closes in on record high after upbeat earnings Bloomberg Wall Street Tells Mortgage Buyers Wider Spreads Are a Point of Entry CNBC The Fed's key interest rate keeps climbing higher, and that could become a problem

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.