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: 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 May 4, 2020 Lowest Mortgage Rates in More Than a Month, For Some Anyway Thu, Apr 30, 2020 5:42PM 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 articles today claiming "all-time lows." Some of those articles may even be quoting me (although they don't quote me in support of the "all-time low" headline). Who's right? In terms of the average rate on any given day, we're absolutely not yet back to early March levels. That's a fact. Other sources are in apparent disagreement if they're relying o... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Week Ahead: Behold The Fed's Giant Tranquilizer Gatling Gun Mon, May 4, 2020 10:28AM 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 Bernanke, Yellen, and now Powell, atop a hill overlooking the economic countryside, bazooka on the shoulder, scannin... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 7:53PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 7:53PM EST Other News Forbearance Problem Remains Huge, But The Pace is Slowing Mon, May 4, 2020 4:27PM 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 ... (read more) Here's How The Pandemic Affected Housing/Mortgage Markets in March Mon, May 4, 2020 9:08AM 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 number of plans being put in place started to taper down as the middle of the month approached. Between April 21 ... (read more) Healthcare and Public Safety Expenditures Boost Construction in April Mon, May 4, 2020 10:48AM 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 was $1.30 trillion. On an unadjusted basis, total spending increased from $95.91 billion in February to $105.1... (read more) LO Jobs; CRM, Audit, Doc Products; Upcoming Events and Training Mon, May 4, 2020 9:15AM 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 are saying that, thanks to COVID-19, everyone now knows everyone’s true hair color on WebEx and Zoom. A... (read more) 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

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.