The number of homeowners in active forbearance plans fell again this past week. Black Knight estimates there are now 4.6 million people remaining in the plans which mortgage servicers are required to provide as part of the CARES Act package of COVID-19 economic relief. Those plans allow homeowners who claim a financial impact from the pandemic to temporarily skip or make partial mortgage payments. The June 16 count represents 8.7 percent of all active mortgages, down by 57,000 and 0.1 percentage point from the previous week. It is 158,000 fewer plans than at the peak during the week of May 22. The current plans represent just over $1 trillion in unpaid principal ($1,012 billion). Some 6.8 percent of all GSE-backed loans and 12.1 percent of all FHA/VA loans are currently in plans. While the

June 19, 2020 Download our Mobile App: Download our Mobile App: Housing News Forbearance Numbers Continue to Retreat The number of homeowners in active forbearance plans fell again this past week. Black Knight estimates there are now 4.6 million people remaining in the plans which mortgage servicers are required to provide as part of the CARES Act package of COVID-... (read more) Mortgage Rate Watch Investor Caution Helping Push Rates Back Toward Lows Mortgage rates improved modestly today as investors remain cautious amidst rising coronavirus stats in several states. The experience of those states is fueling broader concern about a 2nd wave of the disease that may logically follow less efficient ... (read more) Rob Chrisman Credit, QC, Ops Jobs; Broker, DPA Products; Residential Credit Changes Lots in the news. Congratulations to the California MBA (and the MBA and lenders everywhere, since nearly 25% of residential loans come from California) which made news by being victorious in defeating AB 2501 . Kansas has added Alabama to its quaran... (read more) Housing News Conventional Loans Stealing Market Share The dominance of conventional lending continued to grow in May . Ellie Mae's Origination Insight Report says those loans made up 82 percent of originations during the month, up from 81 percent in April and 70 percent at the end of 2019. The FHA share... (read more) Housing News Freddie Says Economic Stimulus Softened Pandemic's Impact Freddie Mac's Economic and Housing Research Group says say that, heading into summer, the housing market is rebounding from the COVID-19 pandemic's damage faster than expected. Purchase demand is recovering, and any home price response has, so far, b... (read more) MBS Commentary MBS Live Recap: Putting MBS Underperformance in Perspective Putting MBS Underperformance in Perspective Rates are low. Unless coronavirus wins, rates should continue to gradually move higher, but not in a straight line.  At times (like today), we may see the mort... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.09% +0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.09% +0.04 0.00 15 Yr. Fixed 6.50% +0.03 0.00 30 Yr. FHA 6.43% +0.04 0.00 30 Yr. Jumbo 7.55% 0.00 0.00 5/1 ARM 6.65% +0.02 0.00 30 Yr. VA 6.45% +0.05 0.00 Updates Daily - Last Update: 12/8 15 Yr. Fixed Rate 6.50% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 7.03% -0.19 0.00 15 Yr. Fixed 6.29% -0.27 0.00 Updates Weekly - Last Update: 12/7 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.17% -0.20 0.60 15 Yr. Fixed 6.80% -0.08 0.77 30 Yr. Jumbo 7.35% -0.19 0.44 Updates Weekly - Last Update: 12/6 MBS / Treasuries UMBS 30YR 6.0 100.72 -0.13 Price / Yield Change MBS UMBS 6.0 100.72 -0.13 UMBS 6.5 101.84 -0.11 GNMA 6.0 101.09 -0.11 GNMA 6.5 101.98 -0.05 Pricing as of: 12/10 12:17AM EST 10 Year US Treasury 4.2280 +0.0800 Price / Yield Change US Treasury 2 YR Treasury 4.723 +0.131 5 YR Treasury 4.243 +0.112 7 YR Treasury 4.271 +0.097 10 YR Treasury 4.228 +0.080 30 YR Treasury 4.308 +0.054 Pricing as of: 12/10 12:17AM EST Latest Video Quarles: Fed to add additional stress test scenarios for Covid-19 Businesses remain cautious despite promising new economic data Bailout mortgages down for third straight week How working from home could lengthen recession Around the Web Calculated Risk Blog Sacramento Housing in May: Sales decline 37% YoY, Active Inventory down 23% YoY Redfin Home Prices Flat, Other Indicators Suggest the Market is Rebounding from Coronavirus Shutdowns CNBC Fed adds coronavirus scenarios to this year's bank stress tests Calculated Risk Blog Q2 GDP Forecasts: Probably Around 33% Annual Rate Decline NAHB Eye on Housing Economic Well-Being of U.S. Households Calculated Risk Blog BLS: May Unemployment rates down in 38 states; 4 States at New Record Highs CNBC Fed's Rosengren reports 'tremendous interest' from businesses for loan program CNBC Gen Z borrowers are unaware of Covid-19 student loan relief programs, study finds CNBC Coronavirus mortgage bailout shrinks further, but bank-held loans are faring worse CNBC Treasury yields move higher ahead of Fed speeches Bloomberg China to Accelerate U.S. Farm Purchases After Hawaii Talks Calculated Risk Blog Lawler: Early Read on Existing Home Sales in May CNBC The economy is snapping back, but still has a long way to go, alternative data shows

© 2023  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.