Fannie Mae's Home Purchase Sentiment Index (HPSI) is on a roll. The company's index, based on some of the results from Fannie Mae's National Housing Survey, increased for the third consecutive month in January and is 8.3 points higher than in January 2019. The HPSI rose 1.3 points to 93.0. The survey high, set last year, was 93.8. Four of the six index components rose month-over-month. The two that lost ground were down both from December and from a year earlier. The index's strongest component was the one measuring consumer opinion about the direction of interest rates. That component has been at a net negative reading for several years, indicating that most respondents expected rates to increase. While the net is still negative, 48 percent of respondents now expect rates to be stable over

February 7, 2020 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 Feb 7, 2020 Mortgage Rates Surprisingly Resilient After Jobs Report Fri, Feb 7, 2020 3:56PM Mortgage rates completely defied the odds. They even defied convention. Specifically, they managed to move appreciably lower even though today's big jobs report basically told them not to. This is a big deal for several reasons. The jobs report is historically the most important economic report on any given month as far as interest rates are concerned. Granted, it's had a bit less impact than normal recently due to the persistently strong readings (i.e. solid job creation is old news), but rates have nonetheless been willing to move in a logical direction when the reports have been much strong... (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: Paradoxical Reaction to NFP Sets Stage For Interesting Weekend Fri, Feb 7, 2020 10:18AM Here's one of those NFP mornings where it would have been very hard to predict what we're seeing in bonds based on what we've seen in the NFP numbers.  The jobs report itself was solidly stronger than expected, but bonds spent almost no time moving toward higher yields in response.  Instead, they're in the middle of a fairly strong rally.  Wha... (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 Americans in 2020 are Increasingly Confident with Homebuying, Rates Fri, Feb 7, 2020 3:37PM Fannie Mae's Home Purchase Sentiment Index (HPSI) is on a roll. The company's index, based on some of the results from Fannie Mae's National Housing Survey, increased for the third consecutive month in January and is 8.3 points higher than in January 2019. The HPSI rose 1.3 points to 93.0. The survey high, set last year, was 93.8. Four of the six index compo... (read more) How Fragile is Affordability in Housing? Fri, Feb 7, 2020 12:37PM It seems every data source in the housing industry has its own definition of affordability, most using a mortgage payment to income ratio based on median home prices and median incomes. While the National Association of Home Builders (NAHB) has an index that follows this profile, it has recently been rolling out its Priced-Out Estimates for the current year.... (read more) Lenders Continue to Shed Higher Risk Programs Thu, Feb 6, 2020 4:42PM The availability of mortgage credit declined slightly last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) dipped 0.2 percent to 181.9 in January. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has four components, the ... (read more) Underwriting Jobs; Marketing, VA Products; FHA, VA, USDA Lending Changes Fri, Feb 7, 2020 9:09AM I can’t predict the future, don’t even know what I’m doing for lunch today, but in October this commentary suggested that with the MOU inked in October between HUD and the Department of Justice centered on alleviating some of the uncertainty regarding the False Claims Act penalties, the big banks would take a good look at re-entering the FH... (read more) Latest Video The Fed: Coronavirus is a new risk to outlook Wholesale inventories down 0.2% vs. 0.1% decrease expected Jimmy Dunne: Likely won't be rise in interest rates until 2021 US economy adds 225,000 jobs in January versus 158,000 expected Around the Web Reuters U.S. announces aid for China, other countries impacted by coronavirus Calculated Risk Blog Q1 GDP Forecasts: 1.7% to 2.7% CNBC Here's where owning a home is cheaper than renting one Reuters Fed says risks to economy easing, but calls out coronavirus in report to Congress Reuters White House sees minimal impact on U.S. economy from China's coronavirus Reuters U.S. December wholesale inventories revised lower Calculated Risk Blog Comments on January Employment Report CNBC US added 225,000 jobs in January, vs 158,000 expected CNBC US Treasury yields slide ahead of jobs data CNBC January jobs report may have gotten an extra boost from the weather Calculated Risk Blog Goldman: January Payrolls Preview CNBC Saving for a home is no longer a top financial priority in the U.S. CNBC End of financial 'Ice Age' will take US interest rates below zero, strategist predicts

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