It had been threatened from the beginning of the Trump administration, but this week the hammer fell. U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson has announced the formal termination of the Obama Administration's Affirmatively Furthering Fair Housing (AFFH) regulation issued in 2015 . In a press release Carson called the regulation "complicated, costly, and ineffective." Under the rule, any community receiving HUD money was required to analyze its housing occupancy by race, disability, familial status, economic status, English proficiency, and other categories and analyze any factors that present barriers to housing. It then must then formulate a plan to eliminate those barriers which must be approved or disapproved by HUD. This must be done every five years

July 24, 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 Jul 24, 2020 Mortgage Rates Struggling to Set New Records Thu, Jul 23, 2020 5:01PM Mortgage rates improved almost imperceptibly this morning compared to yesterday afternoon. With that, the average lender was just a hair below the previous all-time lows, but by an amount that's so small as to not really matter to the average mortgage borrower. Perhaps more importantly , after a string of convincingly lower all-time lows, mortgage rates have been struggling to make additional improvements. This mirrors recent improvements in the Treasury market--the benchmark for fixed interest rates in the US. 10yr yields have moved progressively lower since mid-June, but have also struggled ... (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 Recap: Why The Range Risk in Treasuries Matters to Mortgages Fri, Jul 24, 2020 4:01PM Why The Range Risk in Treasuries Matters to Mortgages We've been following .58% in 10yr yields for months as the best candidate for the bottom of "the range."  Now that mortgage rates have largely settled relative to Treasuries, the .58% floor, until and unless we see yields move below .58% and remain in st... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.23 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.15 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:51PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.087 +0.048 30 YR Treasury 4.732 +0.042 Pricing as of: 9/9 5:51PM EST Other News HUD Eliminates Obama Era Fair Housing Rule Fri, Jul 24, 2020 10:50AM It had been threatened from the beginning of the Trump administration, but this week the hammer fell. U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson has announced the formal termination of the Obama Administration's Affirmatively Furthering Fair Housing (AFFH) regulation issued in 2015 . In a press release Carson called the regul... (read more) New Home Sales Explode Back to Pre-Pandemic Levels Fri, Jul 24, 2020 11:00AM New Home sales have done it again, rising for the third straight month. The U.S. Census Bureau and Department of Housing and Urban Development estimate that newly constructed single-family homes were sold at a seasonally adjusted annual rate of 776,000 units. This is a 13.8 percent increase over the May rate, which was revised higher, from 676,000 units to 6... (read more) Fannie/Freddie Borrowers Continue to Exit Forbearance Fri, Jul 24, 2020 9:50AM Black Knight notes a slight increase in the number of forbearance plans in effect this week even as the number of forborne loans serviced for the GSEs (Fannie Mae and Freddie Mac) dropped sharply. The total number ticked up to 4.119 million, a 2,000-loan increase from the prior week. The total is 7.8 percent of the 53 million active mortgage loans and repres... (read more) Regional manager, AE, LO Jobs; Automation, Credit, AI Tools; Up to Speed on Tax Transcripts Fri, Jul 24, 2020 10:01AM I don’t know if there is going to be a pro football season or not, with lines of scrimmage & heavy breathing 11 inches apart for hundreds of linemen every week, but here’s The Onion’s take on The Best Cities To Live In For Fans Of Rock And Roll Museums and The Cleveland Browns .” Regardless of city, or population trends, our indus... (read more) Latest Video Mortgage rates hit record low—Here's how it may impact banks' profitability July manufacturing PMI 51.3 vs. 52 expected, best level since January New home sales jump 13.8% in June, the highest since 2007 Emons: Negative real yields are signaling more stimulus is coming from the ... Around the Web CNBC Nearly 25% of all loans, credit cards and mortgages are in financial hardship programs CNBC A second round of $1,200 stimulus checks could be coming. Here's how soon you can expect them Calculated Risk Blog July Vehicle Sales Forecast: 16% Year-over-year Decline Calculated Risk Blog Q2 GDP Forecasts: Probably Around 35% Annual Rate Decline CNBC Here's what we know is in the Republican coronavirus relief bill CNBC Mortgage rates just hit another record low, and here's how much lower they can go Calculated Risk Blog A few Comments on June New Home Sales NAHB Eye on Housing Real Rent Index Declined in June CNBC Landlords are encouraged to think creatively as 28 million Americans face eviction CNBC The $600 unemployment boost is likely ending. Here's how you can access cash now Reuters Fed hoped to skirt a second virus wave. Small businesses may sink in it Redfin Home Sellers' Asking Prices up 13% from Last Year as Demand Keeps Soaring Calculated Risk Blog NMHC: "July Apartment Market Conditions Showed Continued Impact of COVID-19 Outbreak"

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