The Treasury Department released the Trump Administration's long-awaited plan for reforming the nation's housing finance system on Thursday. Treasury says the Plan "includes nearly 50 recommended legislative and administrative reforms to define a limited role for the Federal Government in the housing finance system, enhance taxpayer protections against future bailouts, and promote competition in the housing finance system ." The plan is a response to a March 2019 Presidential Memorandum directing Treasury Secretary Steven T. Mnuchin to develop a framework for administrative and legislative reforms to address what it called the last unfinished business of the financial crisis. The Treasury Department said it met with a wide range of stakeholders including affordable housing advocates; broker

September 6, 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 Sep 6, 2019 Mortgage Rates Are Higher (Not Lower) Versus Last Week Thu, Sep 5, 2019 3:50PM Mortgage rates walked back a decent chunk of their recent improvements today. This claim runs counter to almost any other coverage you'll see, but I'm right and they're wrong. Actually to be fair, I'm right in a timely way and they're right in a not-so-timely way. At issue is the weekly release of Freddie Mac's mortgage rate survey, which only captures responses from the first half of any given week. Big market movement from Wednesday afternoon through Thursday morning is never represented in the Thursday release. Despite that, media outlets rely heavily on Freddie's data to craft their custom... (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 Recap: Bond Market Threatens to Turn The Car Around Thu, Sep 5, 2019 4:36PM It's only fitting to throw in a vacation-themed reference on Labor Day week.  Unfortunately, only the metaphor is lighthearted.  It's underlying message is a bit more troubling--potentially, anyway.   As far as we could see this week, the summertime fun was still in full effect as of yesterday.  It would be an overstatement to sa... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.75 -0.32 GNMA 5.5 101.06 -0.13 GNMA 6.0 101.99 -0.20 Pricing as of: 9/9 6:01PM EST US Treasury Yield Change 2 YR Treasury 3.560 +0.073 5 YR Treasury 3.618 +0.056 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.088 +0.048 30 YR Treasury 4.727 +0.037 Pricing as of: 9/9 6:01PM EST Other News Treasury Rolls Out Huge Fannie/Freddie Reform Plan Fri, Sep 6, 2019 11:24AM The Treasury Department released the Trump Administration's long-awaited plan for reforming the nation's housing finance system on Thursday. Treasury says the Plan "includes nearly 50 recommended legislative and administrative reforms to define a limited role for the Federal Government in the housing finance system, enhance taxpayer protections against futur... (read more) Fewer Prospective Home Buyers Are Actively in the Market Thu, Sep 5, 2019 11:24AM Fewer prospective homeowners are making the move from thinking about buying to actively shopping than a year ago, according to a new study by the National Association of Home Builders (NAHB). Rose Quint, writing in NAHB's Eye on Housing blog says the association's most recent Housing Trends Report , covering the second quarter, found 12 percent of adults are... (read more) Equity Lending Faces Mixed Future Thu, Sep 5, 2019 10:58AM A new study by the Mortgage Bankers Association (MBA) looks at lending and servicing of home equity lines of credit (HELOCs) and closed-end home equity loans (HE Loans.) The study finds that lenders see the current demand for equity lending to be mixed between loan types and doesn't anticipate a lot of improvement in HELOC lending in the mid-term. Both home ... (read more) Sales, Broker Products; Associated's LIBOR Shift; Freddie, Fannie, FHA's Future Fri, Sep 6, 2019 9:08AM Yesterday the industry reacted to the topic of housing finance reform. HUD presented its plan for FHA . But, like Farrah Fawcett passing away on the same day as Michael Jackson more than ten years ago, the headlines were dominated by the plan for Freddie and Fannie , and U.S. Treasury Secretary Steven Mnuchin also presenting President Trump with a housing fi... 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