"The face of America is changing, and the housing market is changing along with it. If the mortgage market doesn't keep up, the nation's economy will bear the consequences." That flat statement introduces an article by three housing experts that appeared recently in the Washington Post. Gary Acosta is co-founder and chief executive officer of the National Association of Hispanic Real Estate Professionals. Jim Parrott is a nonresident fellow at the Urban Institute, and Mark Zandi is chief economist at Moody's Analytics. The three point out that by 2045 more than half of the U.S. population will be persons of color, and they will be responsible for an overwhelming amount of housing demand, particularly as first-time buyers. Hispanic Americans are expected to form more than half of new households

May 29, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for May 29, 2019 Mortgage Rates Lowest Since January 2018 Wed, May 29, 2019 4:44PM Mortgage rates fell again today, just barely inching to the lowest levels since early 2018 . Keep in mind, that factoid is based on an average of multiple lenders. Some of them aren't quite back to the low rates seen at the end of March. Others had crossed that line several days ago. Either way, the actual NOTE RATE at the top of the average rate quote would be the same then and now. The EFFECTIVE RATE would be just slightly lower due to a small advantage in upfront lender costs (origination or points, depending on the lender). Relative to market sentiment at the beginning of May, the last 3 w... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: What's Moving This Market? Wed, May 29, 2019 9:26AM In the day just past, bonds extended a rally that was called into question by last Friday's narrow, sideways trading day.  Credit was primarily due to 2 days of improvement in European bond markets and the subsequent attempt to catch up on the p... (read more) MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.76 -0.31 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 5:39PM EST US Treasury Yield Change 2 YR Treasury 3.554 +0.067 5 YR Treasury 3.614 +0.052 7 YR Treasury 3.813 +0.045 10 YR Treasury 4.084 +0.045 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:39PM EST Other News Lending is Disadvantaging its Own Future Wed, May 29, 2019 9:33AM "The face of America is changing, and the housing market is changing along with it. If the mortgage market doesn't keep up, the nation's economy will bear the consequences." That flat statement introduces an article by three housing experts that appeared recently in the Washington Post. Gary Acosta is co-founder and chief executive officer of the National As... (read more) Mortgage Application Volume Takes Back Some of May's Gains Wed, May 29, 2019 8:12AM Mortgage application volume declined during the week ended May 24, more than reversing a 2.4 percent increase a week earlier. Both refinancing and purchase activity moved lower. The Mortgage Bankers Association said its Market Composite Index which tracks the level of mortgage loan applications, was down 4.0 percent on a non-seasonally adjusted basis and 3.3... (read more) Freddie Mac Portfolio Growth Slowed Slightly, Delinquencies Down Tue, May 28, 2019 11:53AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 6.2 percent in April, declining from 8.0 percent the previous month. The portfolio balance at the end of the period was $2.216 trillion compared to $2.204 trillion at the end of March and $2.109 trillion a year earlier. Purchases and Issuances totaled $36.071b... (read more) U/W Products; Digital White Paper; 40% of MLOs Close How Much Total Volume? Wed, May 29, 2019 9:28AM Lenders ask themselves, “Would you fund loans where people cannot buy or sell houses because they can’t check, or record, liens?” Probably not, and this month Baltimore joined other cities that have fallen prey to crippling ransomware attacks . Using a ransomware variant called RobbinHood, hackers crept under firewalls crippling key city sy... (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 Bloomberg Falling Rates a Reason to Sell for Recession-Wary Stock Traders - Bloomberg Calculated Risk Blog Zillow Case-Shiller Forecast: Slower YoY Price Gains in April NAHB Eye on Housing Rates on Construction Loans Back Off Slightly in the First Quarter Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency Rate Decreased in April CNBC The market now thinks the Fed will cut rates twice by January 2020 Bloomberg Tornadoes Again Strike Midwest With No End in Sight - Bloomberg Bloomberg Morgan Stanley Says U.S. Yield Curve Now Clearly Spells Downturn Calculated Risk Blog Richmond Fed: "Fifth District Manufacturing Was Moderate in May" NAHB Eye on Housing Nearly Half of Prospective Buyers Are Actively House Hunting CNBC 'Don't say we didn't warn you' - A phrase from China signals the trade war could get even worse CNBC Many millennials say buying a home may finally be within reach builderonline.com Condo Prices Sliding in Boston Reuters Bond bulls get a boost as trade tensions fan recession fears

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