A joint release from the Consumer Financial Protection Bureau (CFPB) and the Conference of State Bank Supervisors cautions mortgage servicers about their obligations in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act. The Act includes provisions granting a right to forbearance to mortgaged homeowners impacted by the COVID-19 pandemic. Under these provisions, servicers of federally-backed mortgages including those from the GSEs Fannie Mae and Freddie Mac as well as FHA, the VA, and USDA must grant forbearance to borrowers with pandemic-related hardships for as long as two consecutive 180-day periods during the National Emergency declared in response to the outbreak. Servicers are advised by CFPB and the Supervisors that they can approve a shorter than 180-day plan

June 5, 2020 Download our Mobile App: Download our Mobile App: Housing News CFPB Warns Servicers and Lenders to Adhere to CARES Act A joint release from the Consumer Financial Protection Bureau (CFPB) and the Conference of State Bank Supervisors cautions mortgage servicers about their obligations in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act. The... (read more) Mortgage Rate Watch Are All-Time Low Rates Behind Us Now? Things are quickly getting interesting for mortgage rates , and by 'interesting,' I mean potentially alarming. Everything's relative though, so it should be said right up front that the average mortgage rate is still only a hop and a skip from the al... (read more) MBS Commentary MBS Live Recap: That Escalated Quickly, But MBS Recovered Fairly Nicely That Escalated Quickly, But MBS Recovered Fairly Nicely After weeks and weeks (6, to be specific) of extraordinarily calm and narrow trading ranges in ultra-low-yield territory, the bond market has suddenly d... (read more) Rob Chrisman AE Jobs; Broker, DPA, LOS, Products; FHA COVID Forbearance Guidance; Payrolls Push Rates Higher! Change is certainly constant. “And just like that, every reporter has gone from infectious disease expert to civil rights attorney.” In our biz, if you didn’t make money in the first quarter, you should have made some changes. The M... (read more) Housing News Forbearance Numbers Appear to Shrink, but There's a Catch The number of mortgages in forbearance plans declined this past week for the first time since the CARES Act to address the COVID-19 pandemic was enacted. Black Knight said its survey showed that there were 4.73 million homeowners, 8.9 percent of thos... (read more) Housing News Pandemic's Disproportionate Effects on Housing Supply, Affordability The Urban Institute says that homes categorized as low priced, that is in the bottom 20 percent of the distribution, appreciated 126 percent between the turn of the century and the end of 2019. During that same 20-year period, those in the top 20 per... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.73 +0.09 Price / Yield Change MBS UMBS 5.5 99.72 +0.08 UMBS 6.0 101.51 +0.08 GNMA 5.5 99.92 +0.07 GNMA 6.0 101.41 +0.07 Pricing as of: 7/7 1:04AM EST 10 Year US Treasury 4.3310 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.859 -0.024 5 YR Treasury 3.914 -0.023 7 YR Treasury 4.104 -0.021 10 YR Treasury 4.332 -0.015 30 YR Treasury 4.866 +0.003 Pricing as of: 7/7 1:04AM EST Latest Video Mortgage rates spike on shocking jobs report US economy adds 2.5 million jobs added in May, vs expected decline of 8.3 m... Mortgage bailout total shrinks for first time since start of pandemic Analyst says home improvement could continue to have 'wallet share' Around the Web Calculated Risk Blog AAR: May Rail Carloads down 27.7% YoY, Intermodal Down 13.0% YoY CNBC Here's why the real unemployment rate may be higher than reported Calculated Risk Blog Tuesday June 9th: June 2020 Market & Economic Update CNBC Here's what the unemployment rate actually means and why it's so important NAHB Eye on Housing Multifamily Construction Gaining Market Share in Low Density Markets CNBC 'It's going to be ugly,' analyst says as mortgage rates suddenly spike on shocking jobs report Reuters 'It's not over': COVID-19 cases rise in some nations easing lockdowns: WHO CNBC May's record jobs comeback: Here's where the jobs are in one chart CNBC May unemployment rate comes in at 13.3%, better than the 19.5% expected CNBC Treasury yields move higher ahead of U.S. jobs report CNBC QE infinity? The European Central Banks's emergency stimulus has no real end in sight Reuters Futures gain as recovery optimism lingers ahead of May jobs data CNBC Central banks 'can't cure the virus,' former Fed governor says

© 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.