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: Housing News April's Forbearance Requests Slow to a Relative Trickle 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 plac... (read more) Rob Chrisman Portfolio Monitoring, Non-QM, Corresp., Broker Products; Customer Satisfaction Survey 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... (read more) Mortgage Rate Watch Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly) 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 sur... (read more) MBS Commentary MBS Live Day Ahead: Bonds Look to Challenge Trend With Powell on Deck 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 continue... (read more) Housing News Pending Sales Rout May Signal a Bounce for Housing - Realtors 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... (read more) Housing News Freddie's Loan Portfolio on Pace to Increase by 14.3 Percent This Year 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.... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.92 +0.08 Price / Yield Change MBS UMBS 5.5 99.91 +0.07 UMBS 6.0 101.62 +0.05 GNMA 5.5 100.05 +0.09 GNMA 6.0 101.46 +0.06 Pricing as of: 7/3 4:53AM EST 10 Year US Treasury 4.2553 -0.0245 Price / Yield Change US Treasury 2 YR Treasury 3.771 -0.017 5 YR Treasury 3.848 -0.019 7 YR Treasury 4.035 -0.021 10 YR Treasury 4.260 -0.020 30 YR Treasury 4.786 -0.023 Pricing as of: 7/3 4:53AM EST Latest Video These are the top ETFs purchased by the Fed Pandemic squeezes already low housing supply Powell: Negative rates not an appropriate tool in U.S. Fed Chair Powell on propping up Main Street lending Around the Web Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate Increased in April CNBC House bill gives small businesses more time to use PPP loans and lets them spend less on payroll CNBC Too little or too much money? No payment at all? Here's what the IRS has said about inaccurate stimulus payments NAR - Realtor.com Amid the Covid-19 Crisis, Single-Family Homes May Be the Smart Investment Calculated Risk Blog Q2 GDP Forecasts: Probably Around 40% Annual Rate Decline NAHB Eye on Housing April Personal Income Up 10.5% Due to CARES CNBC Powell says the Fed is 'days away' from making the first loans in the Main Street lending facility Calculated Risk Blog Real Personal Income less Transfer Payments NAHB Eye on Housing Most Vulnerable Housing Markets Calculated Risk Blog Personal Income increased 10.5% in April, Spending decreased 13.6%, Core PCE decreased 0.4% CNBC Corporations raise $1 trillion in the bond market after Fed backstop, double the pace of last year Reuters With 'Main Street' in view, Fed weighs risks of job, productivity shocks Joint Center for Housing Studies Housing Could Help Lead the Post-Covid Economic Recovery

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