Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka "g-fee") for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I'd highly recommend reading my initial coverage if you haven't already: Here's the initial reaction from Wednesday night Here's a more detailed list of bullet points from the following morning For those who don't like reading or who already know everything I'm about to say, feel free to skip to the next section ("what does this all mean") below. G-fees are a longstanding ingredient in the mortgage market equation. They are collected by Fannie Mae and Freddie Mac (collectively the "agencies" or GSEs) in order to guarantee timely repayment to mortgage investors. In other words, if borrowers don't pay, the

August 26, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 26, 2020 That Big Bad Fee on Refinances Has Been Delayed! Here's What It Means Tue, Aug 25, 2020 4:28PM Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka "g-fee") for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I'd highly recommend reading my initial coverage if you haven't already: Here's the initial reaction from Wednesday night Here's a more detailed list of bullet points from the following morning For those who don't like reading or who already know everything I'm about to say, feel free to skip to the next section ("what does this all mean") below. G-fees are a longstanding ingredient in the mortgage market... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Recap: LLPA Impact vs Powell Speech. Time to Lock? Wed, Aug 26, 2020 4:21PM LLPA Impact vs Powell Speech. Time to Lock? Much has been made (by news media... not bond market participants) of Powell's Jackson Hole (virtual) speech on Thursday.  After all, a rethink of the Fed's "framework" sounds like a big deal, right?  The only catch is that they've been talking about that for yea... (read more) MBS Price Change UMBS 5.0 99.68 -0.10 UMBS 5.5 101.22 -0.06 UMBS 6.0 102.46 -0.08 GNMA 5.0 100.00 -0.07 GNMA 5.5 101.18 -0.01 GNMA 6.0 102.12 -0.06 Pricing as of: 9/9 6:47AM EST US Treasury Yield Change 2 YR Treasury 3.504 +0.016 5 YR Treasury 3.581 +0.019 7 YR Treasury 3.789 +0.021 10 YR Treasury 4.066 +0.026 30 YR Treasury 4.723 +0.033 Pricing as of: 9/9 6:47AM EST Other News Purchase Applications Decline Even as Rates Move Lower Wed, Aug 26, 2020 8:13AM Mortgage applications volume fell for the second time during the week ended August 21, declining 6.5 percent from the previous week according to the Mortgage Bankers Association's (MBA's) seasonally adjusted Market Composite Index. The volume was down 7.0 percent before adjustment. The Refinancing Index lost 10 percent from the previous week's level and the ... (read more) New Home Sales Explode in the Midwest, Boosting National Numbers Tue, Aug 25, 2020 12:02PM New home sales were expected to dip slightly in July after posting 13.8 percent growth in June and setting a 13-year high. Instead, the June sales were revised upward, from 776,000 to 791,000, bringing that month's increase to 15.1 percent and July still managed a 13.9 percent gain. Last month's sales were at a seasonally adjusted annual rate of 901,000 unit... (read more) Home Price Gains Shrug off Covid Concerns Tue, Aug 25, 2020 11:55AM Both the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) and the several S&P CoreLogic Case-Shiller indices showed price gains across the U.S. in June. Case-Shiller's numbers showed more moderation in the rate of increase than did those from FHFA. The Case-Shiller's National Home Price Index, covering all nine U.S. census divisions , ... (read more) AI, Forbearance, Comp Tools; Training and Events: Capital Markets Tue, Aug 25, 2020 9:17AM 2019: Stay away from negative people. 2020: Stay away from positive people. Like it or not, depending on how “old school” you are, companies in recent years have wrestled with how to relate to younger employees, positive or negative. Can you imagine caring about stuff like work-life balance, transparency, and accountability from the top down? Law... (read more) Latest Video Fed Chair Powell may say interest rates won't go up for five years: Investo... How to play the 10-year ahead of Fed chair Powell's speech U.S. durable goods orders rose jumped 11.2% in July, vs 5% increase expecte... The migration to the suburbs continues Around the Web CNBC The Fed is expected to use a new pandemic-era tool to fight a long-running battle against low inflation CNBC Dow vs S&P 500: Traders face off after Dow's most significant shake-up in years Calculated Risk Blog New Home Prices NAHB Eye on Housing Multifamily Family Built-for-Rent Share Reaches New High CNBC Every American home is getting a flood risk score and many are at higher risk than previously known Reuters Framework review complete, Fed's Powell starts hard sell for higher inflation FHFA FHFA Further Extends Buying Loans in Forbearance & COVID-Related Loan Processing Flexibilities CNBC As U.S. makes progress on the virus front, Peter Boockvar predicts inflation will become a serious headwind - with or without Fed involvement Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in June CNBC Can you be evicted during the pandemic? It depends on your ZIP code Calculated Risk Blog A few Comments on July New Home Sales CNBC 'Hundreds of thousands' of people looking for suburban homes Sternlicht on exodus from cities Redfin Sales of New-Construction Homes Rebound to Pre-Coronavirus Levels, Rising 10% in July

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