Mortgage delinquencies spiked in June and the serious delinquency rate, loans 90 or more days past due but not in foreclosure, reached its highest level in more than five years. CoreLogic in its monthly loan performance report, said 7.1 percent of all mortgages nationwide were at least 30 days past due, including those in foreclosure. This is 3.1 percentage points higher than the delinquency rate in June 2019. Further, the company predicts that, barring additional government programs and support, serious delinquency rates could nearly double from the June 2020 level by early 2022. Not only could millions of families potentially lose their home, through a short sale or foreclosure, but this also could create downward pressure on home prices - and consequently home equity - as distressed sales

September 8, 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 Sep 8, 2020 The Uncommonly Strong Case For Locking a Mortgage Rate Fri, Sep 4, 2020 4:25PM Almost everywhere you look, low mortgage rates are in the news. Experts are claiming they'll remain low or move lower for years to come. They might be right! But that doesn't necessarily mean you should wait to refinance or to lock your rate if you're already in the loan process. It is true that mortgage rates improved noticeably earlier this week. Part of the improvement is due to overall gains in the bond market following last week's Federal Reserve scare. When the Fed updated its policy framework, the bond market was briefly spooked. A spooked bond market means higher yields/rates. The next... (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 5.5 101.07 -0.21   97.47 101.61 UMBS 30YR 6.0 102.38 -0.16   99.66 102.50 10 YR Treasury 4.083 +0.044   3.621 4.780 MBS Live Recap: Some Cause For Concern, Despite The Gains Tue, Sep 8, 2020 4:40PM Stock Market Weakness To The Rescue Last Friday tied August 11th as the worst day of since early June.  It was something the bond market clearly felt needed to happen (weaker stocks were little help).  The day before, however, stock selling definitely helped bonds extend their week-long rally.  Now tod... (read more) MBS Price Change UMBS 5.0 99.44 -0.34 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.05 -0.14 GNMA 6.0 101.98 -0.20 Pricing as of: 9/9 6:24PM EST US Treasury Yield Change 2 YR Treasury 3.568 +0.080 5 YR Treasury 3.627 +0.065 7 YR Treasury 3.832 +0.064 10 YR Treasury 4.083 +0.044 30 YR Treasury 4.735 +0.044 Pricing as of: 9/9 6:24PM EST Other News Delinquency Rate Could Double Without More Federal Support Tue, Sep 8, 2020 8:19AM Mortgage delinquencies spiked in June and the serious delinquency rate, loans 90 or more days past due but not in foreclosure, reached its highest level in more than five years. CoreLogic in its monthly loan performance report, said 7.1 percent of all mortgages nationwide were at least 30 days past due, including those in foreclosure. This is 3.1 percentage ... (read more) CFPB Goes After 6 VA Lenders for Shady Practices Fri, Sep 4, 2020 9:34AM The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in the VA mortgage lending area. The Bureau has issued consent orders against six companies since late July in what it terms a "sweep" i n response to concerns about potentially unlawful advertising in the market th... (read more) Forbearances Decrease by 4% Fri, Sep 4, 2020 9:22AM The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than the previous week, a decline of about 4 percent. The company says last week's decrease means there are about 1... (read more) LO Jobs; Non-QM, Servicer, Sales, Training Tools; Time Required to Hack a Password Tue, Sep 8, 2020 8:53AM On one hand we have the old adage, “No tree grows to the moon.” On the other hand, MLOs and real estate agents are licking their chops given that 52 percent of young adults live with their parents . What does that tell you about the demand for housing and loans in the coming years? And it isn’t as if this is new. I went to some previous inf... (read more) Latest Video Recovery could falter without more targeted, focused stimulus: Charles Dall... Here's where mortgage bailouts stand amid the pandemic Unemployment rate falls to 8.4% as U.S. economy adds 1.37 million jobs in A... Treasury yields slightly higher after August jobs report Around the Web NAHB Eye on Housing Examining Rental Housing in the US: Debt & Financing Characteristics NPR Zoom Towns And The New Housing Market For The 2 Americas CNBC Mitch McConnell says Senate will vote on coronavirus stimulus plan as soon as this week Calculated Risk Blog Seattle Real Estate in August: Sales up 15% YoY, Inventory UP 8% YoY CNBC Labor Day weekend air travel hits nearly 6-month high, but holiday caps dismal summer season Calculated Risk Blog Black Knight Mortgage Monitor for July: "Record-Low Rates, Largest Quarterly Volume on Record" CNBC U.S. economy faces $15 trillion hit as a result of school closures, OECD says CNBC No-deal Brexit is the most likely outcome of trade talks, former EU chief says Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC U.S. Treasury yields move lower as investors monitor economic data, auctions NPR Fed's Jerome Powell: Jobless Rate Better Than Expected; Recovery To Take A Long Time CNBC U.S. is still in a 'very significant recession' despite job gains, Fed's Rosengren says Calculated Risk Blog Q3 GDP Forecasts

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