Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Mortgage Bankers Association shows the effects of the COVID-19 pandemic fading a bit in early delinquency numbers but surging within the more serious non-current categories. The overall rate of loans 30 or more days past due increased during the second quarter to a seasonally adjusted 8.22 percent of all outstanding one-to-four-unit mortgages. This was up 386 basis points (bps) from the first quarter of the year and 369 bps year-over-year. MBA includes loans in forbearance in its delinquency numbers. Looking at delinquencies by bucket shows a slight decline, 33 bps among loans 30-days or more past due to a 2.34 percent rate, reflecting fewer loans becoming delinquent. Loans 60 to 90 days

August 21, 2020 Download our Mobile App: Download our Mobile App: Housing News Late-Stage Delinquencies are Surging, Especially Those With FHA Loans Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Mortgage Bankers Association shows the effects of the COVID-19 pandemic fading a bit in early delinquency numbers but surging within the more ser... (read more) MBS Commentary MBS Live Day Ahead: Now We're Getting Somewhere Coronavirus obviously ushered in an era of record low rates.  The ongoing challenges and uncertainties are fairly well understood.  They have a wide spectrum of possible outcomes.  As far as we can see at the moment, the baseline outco... (read more) Housing News Existing Home Sales are Booming Existing-home sales posted a second month of significant sales gains in July, building on a record 20.7 percent increase in June. The National Association of Realtors ® (NAR) said sales were at a seasonally adjusted 5.86 million units, a 24.7 per... (read more) Mortgage Rate Watch Mortgage Rates Are Actually Lower This Week Mortgage rates moved a bit lower today, on average, but that's not what most of the mortgage-related headlines are saying today. Reason being, journalists and even many mortgage market participants rely heavily on Freddie Mac's weekly survey for a re... (read more) Housing News Forbearances are Leveling Out, With Long-Term Delinquencies now a Concern The financial impacts of the COVID-19 pandemic are beginning to emerge and while it appears the crisis initially hit homeowners hard, the duration of the problem is murky. Short term delinquencies are declining, with fewer homeowners entering forbear... (read more) Rob Chrisman MSR, Conversion, EPO Products; Public Company Snapshots; LO and UW Jobs RCIII writes, “I don’t know about you, but I’m ready for some precedented times.” But Tom Petty wrote, “Well, the good old days, may not return… And the rocks might melt, and the sea may burn.” Let’s h... (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 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 3:26AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 3:26AM EST Latest Video Markit manufacturing Purchasing Managers' Index comes in at 53.6 Existing home sales up 8.7% versus a year ago Study shows corporations hold nearly $390 billion dollars in corporate bond... Kimco Realty CEO discusses retail reopening Around the Web Calculated Risk Blog BLS: July Unemployment rates down in 30 states; 3 States at New Series Highs NAR - Realtor.com Existing-Home Sales Soar at a Record Pace in July as Americans Make Up for Lost Timebut Two Big Caveats Remain CNBC That extra $300 weekly unemployment benefits: Where states stand NAHB Eye on Housing Single-Family Built-for-Rent Construction Down in 2Q20 NAHB Eye on Housing Average New Home Price Now $14,000 Higher Due to Lumber CNBC Struggling retailers rush to file for bankruptcy as fears of a second wave of coronavirus linger CNBC U.S. Treasury yields move higher as investors look ahead to fresh economic data CNBC Here's what happened to the stock market on Thursday CNBC The rise in jobless claims may be a warning to Congress that the economy needs stimulus CNBC Evictions are expected to skyrocket as pandemic protections come to an end CNBC Wildfires rage across California threatening thousands of homes Calculated Risk Blog Hotels: Occupancy Rate Declined 30% Year-over-year Calculated Risk Blog Comments on Weekly Unemployment Claims

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