Black Knight says its research is showing that the numbers of new forbearance plans for homeowners financially affected by the COVID-19 pandemic have slowed to a trickle compared to the tidal wave in early April. Only 7,000 new plans were put in place during the week ended May 26 compared to a 325,000-net increase in the first week of May and 1.4 million in the first week of April. The most recent increase brings the total forbearance plans to 4.76 million or 9.0 percent of all active mortgages. These loans represent more than $1 trillion in unpaid principal balances. The largest number of loans in forbearance plans, 1.99 million, are those serviced for the GSEs Fannie Mae and Freddie Mac. Another 1.535 million are serviced for Ginnie Mae (loans backed by FHA, the VA, and USDA) and 1.233 million

May 29, 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 29, 2020 Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly) Thu, May 28, 2020 4:38PM It's Thursday, and thus time once again for Freddie Mac's weekly mortgage rate survey. This is the longest-running and most widely-cited snapshot of mortgage rates in the US, but it frequently results in misinformation for mortgage shoppers . The survey does an accurate job of capturing the rates available early in any given week, but it doesn't take the entire week into consideration. As such, actual rates can be very different by the time the survey is published (and news organizations are citing it as a breaking story). This is most noticeable when rates make huge moves late in any given we... (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 5.5 101.24 -0.04   97.47 101.61 UMBS 30YR 6.0 102.48 -0.06   99.66 102.50 10 YR Treasury 4.051 +0.012   3.621 4.780 MBS Live Day Ahead: Bonds Look to Challenge Trend With Powell on Deck Fri, May 29, 2020 8:52AM The next Fed announcement is 1.5 weeks away and so it's time to start ramping up expectations for the details of the Fed's official QE announcement.  But wait... Aren't they buying a ton of bonds already?   Indeed, the Fed continues purchasing both MBS and Treasuries in relatively significant quantities every day, but they do so under "eme... (read more) MBS Price Change UMBS 5.0 99.71 -0.07 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.03 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 2:39AM EST US Treasury Yield Change 2 YR Treasury 3.501 +0.013 5 YR Treasury 3.575 +0.013 7 YR Treasury 3.779 +0.010 10 YR Treasury 4.051 +0.012 30 YR Treasury 4.697 +0.006 Pricing as of: 9/9 2:39AM EST Other News April's Forbearance Requests Slow to a Relative Trickle Fri, May 29, 2020 9:14AM Black Knight says its research is showing that the numbers of new forbearance plans for homeowners financially affected by the COVID-19 pandemic have slowed to a trickle compared to the tidal wave in early April. Only 7,000 new plans were put in place during the week ended May 26 compared to a 325,000-net increase in the first week of May and 1.4 million in ... (read more) Pending Sales Rout May Signal a Bounce for Housing - Realtors Thu, May 28, 2020 10:46AM Pending home sales cratered again in April, marking two straight months of declines that exceeded 20 percent. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) fell 21.8 percent to 69.0. The decline in March was 20.8 percent. The Index is down by 33.8 percent year-over-year. This is the largest decline in pending home s... (read more) Freddie's Loan Portfolio on Pace to Increase by 14.3 Percent This Year Wed, May 27, 2020 10:58AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 14.3 percent in April, up from a 9.2 percent gain in March and the largest rate since December. The portfolio balance at the end of the period was $2.396 trillion compared to $2.368 trillion at the end of March and $2.216 trillion a year earlier. The growth ra... (read more) Portfolio Monitoring, Non-QM, Corresp., Broker Products; Customer Satisfaction Survey Fri, May 29, 2020 9:12AM Here’s something you can do for your friends, relatives, and borrowers, especially older ones: Remind them that the current batch of coronavirus relief payments are coming as VISA debit cards . Texas’ Larry C. reminded me that we’ve all unexpectedly received cards in the mail that we didn’t order and cut them up before throwing them i... 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