Black Knight reports that, as of May 7, there were 4.1 million loans in forbearance, up from 3.8 million in the company's last report which covered plans put into effect by mortgage servicers through April 30. The new total represents 7.3 percent of all active mortgages and accounts for $890 billion of unpaid mortgage principal. Fannie Mae and Freddie Mac guaranteed loans account for 1.91 million of total loans and $390 billion in principal. Those loans are 6.4 percent of the 27.9 million loans the GSEs have in service. There were 1.33 million Ginnie Mae (FHA and VA) loans in forbearance plans , accounting for an unpaid balance of $246 billion and 11.0 percent of the Ginnie Mae portfolio of 12.1 million loans. The remaining 933,000 loans are 7.2 percent of the 12.9 million loans being serviced

May 8, 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 May 8, 2020 Rates Are Still Low, But Let's Talk About Forbearances Wed, May 6, 2020 5:20PM Mortgage rates moved slightly higher this week, but not enough to worry about too terribly much. Most lenders are still in the mid-to-low 3% range and there's not much fear about an abrupt move to significantly higher levels any time soon. Whether or not that makes the market complacent remains to be seen. Either way, rates just haven't moved much when it comes to the rates we can actually talk about. What do I mean by that? While we can talk about any rate for any program, there's only one way to compare changes in rates from day to day and year to year. To do that, we have to keep track of t... (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: This is About To Happen. Here's Why Bonds Don't Care Fri, May 8, 2020 8:32AM The Employment Situation (the big jobs report out today) is the single most important piece of economic data on any given month--at least it normally is.  On average, no other report has the same ability to cause volatility and momentum in the bond market.  On so many past occasions, NFP (the "nonfarm payrolls" component of the report, and its most... (read more) MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.76 -0.31 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 5:39PM EST US Treasury Yield Change 2 YR Treasury 3.554 +0.067 5 YR Treasury 3.614 +0.052 7 YR Treasury 3.813 +0.045 10 YR Treasury 4.084 +0.045 30 YR Treasury 4.722 +0.032 Pricing as of: 9/9 5:39PM EST Other News Servicers on the Hook as 4.1 Million Loans Now in Forbearance Fri, May 8, 2020 11:21AM Black Knight reports that, as of May 7, there were 4.1 million loans in forbearance, up from 3.8 million in the company's last report which covered plans put into effect by mortgage servicers through April 30. The new total represents 7.3 percent of all active mortgages and accounts for $890 billion of unpaid mortgage principal. Fannie Mae and Freddie Mac gu... (read more) Fannie Mae Sentiment Index Plunges to Nine-Year Low Thu, May 7, 2020 5:05PM Fannie Mae's Home Purchase Sentiment Index (HPSI) plummeted 17.8 points in April. Combined with its 11.7-point loss in March the Index is at 63.0, its lowest reading since November 2011. Several of its components are now in net negative territory. The HPSI is calculated from responses to six questions from the monthly National Housing Survey (NHS). Five of t... (read more) FHFA Extends Emergency Loan Processing Changes Wed, May 6, 2020 5:52PM The Federal Housing Finance Agency (FHFA) has extended several of the " flexibilities " it announced in March to assist mortgage originators in processing loans for Fannie Mae and Freddie Mac during shutdown associated with the COVID-19 emergency. The accommodations are designed to eliminate some in-person contact and to make it possible to for processing st... (read more) Marketing, Broker Products; Capital Markets Barely Budge After Headline Unemployment Number Fri, May 8, 2020 8:59AM Huh? Your company has 20,000 square feet of office space along 635 in Dallas, or 15 in Salt Lake City, or 405 in Orange County, that’s been empty for two months? And you’re paying how much for it every month? And your workforce is more productive than ever, closing a record amount in April? I won’t say, “Don’t worry,” but ... (read more) Latest Video NYC brokers expect real estate prices to fall up to 20% Large retailers should pay rent so we can help smaller retailers: Kimco Rea... Fed to conduct additional stress testing of Big Banks Wholesale inventories fall 0.8% in March Around the Web NAHB Eye on Housing Consumer Credit Posts Small Gains in First Quarter NAR - Realtor.com What Will 15 Percent Unemployment Mean for the Housing Market? CNBC How the Fed's fighting to keep Covid-19 from causing an extended financial crisis Calculated Risk Blog NMHC: Rent Payment Tracker Finds 80.2 Percent of Apartment Households Paid Rent as of May 6 Reuters U.S., China trade officials press ahead with 'Phase 1' deal as Trump mulls termination NAR - Realtor.com More Tenants Paid Rent on Time in May, But Activists Press On With Strikes Redfin How the Coronavirus Is Transforming the Housing Market: A Tale of Four Metros Reuters U.S. data deluge to underscore divide between roaring market, plunging economy Calculated Risk Blog Comments on April Employment Report CNBC Mortgage bailout swells to 4.1 million borrowers, but demand is slowing CNBC Why the market is up even with historic job losses CNBC A record 20.5 million jobs were lost in April as unemployment rate jumps to 14.7% CNBC 'There is no point' in the Fed going to negative interest rates, argues JPMorgan

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