The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have made arrangements to share information during the COVID-19 national emergency. CFPB is a big portal for and repository of consumer complaints about providers of financial services and has agreed to make that information as it relates to mortgage servicers along with appropriate analytical tools to FHFA available. In turn, the conservator and regulator of the GSEs Fannie Mae and Freddie Mac will provide information to the Bureau about forbearances, modifications and other loss mitigation initiatives undertaken by servicers of GSE loans. The GSEs have instructed servicers to enter into forbearance agreements with borrower encountering financial hardship due to the pandemic. These agreements allow

April 15, 2020 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 Apr 15, 2020 Mortgage Rates Moderately Higher Today Tue, Apr 14, 2020 4:54PM Mortgage rates were moderately to significantly higher today depending on the lender, the program, and on one's own definition of words like "moderate" and "significant." If you're well aware of the recently extreme level of variability between lenders and volatility in mortgage rate pricing, then today was just another random day. But in the context of more normal times, rates were disappointingly higher. It's also worth mentioning that disappointment is relative considering we're still talking about conventional 30yr fixed rates in the mid-3% range. In the current environment, so much depend... (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: Lots of Data to Digest. Will it Matter? Wed, Apr 15, 2020 8:29AM There's no question that financial markets have done a great deal to price-in the anticipated economic impact of coronavirus, but have they done enough?  And will it be the simple release of new econ data that provides clarity?  Today may be one of our first real chances to see if it's not too soon to begin looking for a normal reaction function in... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.23 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.15 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:51PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.087 +0.048 30 YR Treasury 4.732 +0.042 Pricing as of: 9/9 5:51PM EST Other News Fannie/Freddie Regulator and CFPB Agree Will Share Mortgage Servicing Info Wed, Apr 15, 2020 1:15PM The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have made arrangements to share information during the COVID-19 national emergency. CFPB is a big portal for and repository of consumer complaints about providers of financial services and has agreed to make that information as it relates to mortgage servicers along... (read more) Builder Confidence Utterly Decimated by Coronavirus Wed, Apr 15, 2020 10:42AM The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors jointly with Wells Fargo, suffered the largest monthly change in its more than 30-year history this month , plunging 42 points from March to a 30 reading. It was the lowest the index, which measures its member's perceptions of the new home market, has been... (read more) Mortgage Application Volume Shows Pipeline Control is Working Wed, Apr 15, 2020 8:50AM Even though many were probably doing it on their phone or tablet while sitting at their kitchen tables, Americans were busy submitting applications to refinance their home last week. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of mortgage loan application volume, driven by refinancing, increased 7.3 percent on a sea... (read more) Construction, Broker, Appraisal Products; Partial and Temporary Appraisal Delay for Banks Wed, Apr 15, 2020 9:25AM While in captivity sometimes it is difficult social distancing . Working from home, and having video meetings, takes some getting used to. I was telling my cat Myrtle about a service that inserts a goat or llama into your Zoom call for $100 . As I was placing her line-caught halibut cheeks into her bowl, I thought, I should do this at half that price, until ... (read more) Latest Video Federal Reserve on coronavirus: Activity contracted sharply and abruptly Homebuilders face 'front end-loaded' impact, says Susquehanna's Jack Micenk... Homebuilder sentiment dips to 30 in April, lowest level since 2014 March retail sales drop 8.7% as coronavirus crisis hits consumer spending Around the Web Reuters Citigroup profit tumbles 46% on expected credit card losses CNBC The Fed's Main Street problem: Worries rise that money won't go where it's most needed Calculated Risk Blog Fed's Beige Book: "Economic activity contracted sharply and abruptly" CNBC Small business rescue loans top $296 billion, rapidly nearing the program's funding limit CNBC CEO of mortgage giant Quicken Loans explains how struggling homeowners can 'skip the payment' Reuters Wall Street slides on gloomy economic data, bank earnings Calculated Risk Blog NMHC: Rent Payment Tracker Finds Rent Payment Rate at 93 Percent of Prior Month Reuters U.S. manufacturing output posts largest drop since 1946 Calculated Risk Blog NAHB: Builder Confidence "Plunged" to 30 in April Reuters Citigroup profit tumbles as loan defaults loom Calculated Risk Blog Industrial Production Decreased in March Calculated Risk Blog NY Fed: Manufacturing "Business activity plunged in New York State", Record Low Index Reuters CDC director says some U.S. states may be ready to reopen May 1

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