The Mortgage Bankers Association (MBA) has confirmed the findings that Black Knight reported on Monday morning that, while the number of forbearances in effect as a result of the COVID-19 pandemic continues to rise, the rate of increase slowed as April progressed. MBA said its weekly survey found the number of loans in a forbearance plan increased from 6.99 percent of loans being serviced on April 19 to 7.54 of the total as of April 26. MBA estimates that 3.80 million homeowners are now in forbearance. "The share of loans in forbearance increased once again in the last full week of April, but the pace of new requests slowed, " said Mike Fratantoni, MBA's Senior Vice President and Chief Economist. "With millions more Americans filing for unemployment over the week, the level of job market distress

May 4, 2020 Download our Mobile App: Download our Mobile App: Housing News Forbearance Problem Remains Huge, But The Pace is Slowing The Mortgage Bankers Association (MBA) has confirmed the findings that Black Knight reported on Monday morning that, while the number of forbearances in effect as a result of the COVID-19 pandemic continues to rise, the rate of increase slowed as Apr... (read more) MBS Commentary MBS Live Week Ahead: Behold The Fed's Giant Tranquilizer Gatling Gun The Federal Reserve's capacity and willingness to engage in aggressive easing measures is often described as a "bazooka."  This likens it to an imprecise and indiscriminate weapon of immense power with a wide area of effect.  Imagine Bernan... (read more) Housing News Here's How The Pandemic Affected Housing/Mortgage Markets in March Black Knight's new Mortgage Monitor restates some of the statistics on COVID-19 related forbearance plans it released late last week - i.e. that the number of those plans had reached 3.8 million by April 30. But it makes one additional point. The num... (read more) Rob Chrisman LO Jobs; CRM, Audit, Doc Products; Upcoming Events and Training May the 4th be with you as the use of the word “unprecedented” continues to be… unprecedented. While in captivity it is important to get out outside once in a while and see the countryside . Of course hairdressers around the nation... (read more) Housing News Healthcare and Public Safety Expenditures Boost Construction in April Construction spending posted a gain in April, rising 0.9 percent to a seasonally adjusted annual rate of $1.36 trillion from a revised estimate of $1.35 trillion in February. This was a 4.7 percent rate of growth compared to March 2019 when the rate ... (read more) Mortgage Rate Watch Lowest Mortgage Rates in More Than a Month, For Some Anyway Mortgage rates moved down again today, bringing the average lender to their best levels since the 2nd week of March. Some lenders are quoting their lowest rates ever, but early March 2020 averages are still decidedly lower. You may have seen other ar... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.82% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% -0.01 0.00 15 Yr. Fixed 6.07% -0.01 0.00 30 Yr. FHA 6.40% -0.01 0.00 30 Yr. Jumbo 6.92% -0.01 0.00 7/6 SOFR ARM 6.31% -0.01 0.00 30 Yr. VA 6.42% 0.00 0.00 Updates Daily - Last Update: 7/17 15 Yr. Fixed Rate 6.07% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 99.16 +0.04 Price / Yield Change MBS UMBS 5.5 99.16 +0.04 UMBS 6.0 101.19 +0.06 GNMA 5.5 99.46 +0.05 GNMA 6.0 101.16 +0.06 Pricing as of: 7/18 12:58AM EST 10 Year US Treasury 4.4350 -0.0183 Price / Yield Change US Treasury 2 YR Treasury 3.888 -0.016 5 YR Treasury 3.972 -0.018 7 YR Treasury 4.189 -0.021 10 YR Treasury 4.432 -0.022 30 YR Treasury 4.986 -0.022 Pricing as of: 7/18 12:58AM EST Latest Video Shannon Saccocia on consumer spending California becomes first state to take out $348M federal loan for unemploym... Treasury plans to borrow record $3 trillion this quarter Cities weigh risk vs. reward in reopening their economies Around the Web Reuters Internal U.S. document foresees surge of coronavirus deaths, NY Times says Reuters California governor says some businesses may begin reopening this week CNBC US Treasury seeks to borrow a record $3 trillion this quarter CNBC Businesses continue to apply for a PPP loan. Forgiveness remains uncertain Reuters New York governor outlines reopening plan with construction, manufacturing first CNBC Unemployment benefits will be reduced after July 31 Yahoo News Dirt-Cheap U.S. Mortgages Thwarted by $5 Billion in Margin Calls CNBC Coronavirus will shrink US home prices by 2-3% nationally, Zillow forecasts, but deeper dive could be in store CNBC Coronavirus will shrink US home prices by 2-3% nationally, Zillow forecasts, but deeper dive could be in store Calculated Risk Blog Update: Framing Lumber Future Prices Mostly Unchanged Year-over-year NAHB Eye on Housing Affordability Expectations Show No Improvement among Home Buyers Reuters U.S. Treasury's Mnuchin cautious on need for more federal coronavirus relief aid Calculated Risk Blog BEA: April Vehicles Sales decreased to 8.6 Million SAAR, Lowest in 50 Years

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