Mortgage Rate Update Considering this week's generally positive drift in rates, we shouldn't expect lenders to get less busy any time soon. In recent weeks, there's been a sense that mortgage pricing seems just a little bit "off" compared to expectations. Those expectations are primarily derived from movement in the bond market. When bonds improve, rates tent to improve as well, but that wasn't reliably happening recently. One plausible hunch involves lenders being a bit more cautious with pricing until they have a clear sense of which loans will be subject to the new adverse market fee (not sure what that is? read THIS ). With each passing day, they can be more and more certain that new loans will indeed get hit with the fee and thus are able to tighten up margins (thus resulting in slightly

September 25, 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 25, 2020 Stellar Housing Data; Rates Inching Lower Fri, Sep 25, 2020 3:50PM Mortgage Rate Update Considering this week's generally positive drift in rates, we shouldn't expect lenders to get less busy any time soon. In recent weeks, there's been a sense that mortgage pricing seems just a little bit "off" compared to expectations. Those expectations are primarily derived from movement in the bond market. When bonds improve, rates tent to improve as well, but that wasn't reliably happening recently. One plausible hunch involves lenders being a bit more cautious with pricing until they have a clear sense of which loans will be subject to the new adverse market fee (not s... (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: Treasuries, MBS Back on Same Page After 2 Weeks On Different Paths Fri, Sep 25, 2020 3:50PM Treasuries, MBS Back on Same Page After 2 Weeks On Different Paths MBS prices were generally losing ground, albeit at a modest pace, over the past two weeks.  That's no big deal in and of itself, but Treasuries were doing the opposite (modest gains over the same 2 weeks). As of today, however, the curse has been... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.07 -0.21 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.74 -0.33 GNMA 5.5 101.06 -0.13 GNMA 6.0 101.99 -0.20 Pricing as of: 9/9 6:03PM EST US Treasury Yield Change 2 YR Treasury 3.559 +0.072 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.820 +0.051 10 YR Treasury 4.091 +0.052 30 YR Treasury 4.728 +0.038 Pricing as of: 9/9 6:03PM EST Other News Forbearances Ending at a Faster Pace Fri, Sep 25, 2020 10:55AM Black Knight said its weekly forbearance survey found the number of mortgages in active forbearance decreasing at an accelerated rate. Those mortgages fell by 2.6 percent or 95,000 loans over the last week, bring the decline over the last month to 357,000 loans. It was the fifth straight week of improvement and Black Knight noted that since peaking in late M... (read more) 70% of Freddie's Portfolio Suggests Refis Aren't Dead Fri, Sep 25, 2020 9:44AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.7 percent in August compared to a 20.0 percent gain in July. The portfolio balance at the end of the period was $2.533 trillion compared to $2.476 trillion the prior month and $2.275 trillion a year earlier. The growth rate for the year to date is 13.0 perc... (read more) FHFA's Official Report on Q2 Mortgage Relief Numbers Fri, Sep 25, 2020 9:37AM In its 2 nd quarter Foreclosure Prevention and Refinance Report the Federal Housing Finance Agency (FHFA) says it has helped almost 4.7 million distressed homeowners since it became conservator of the GSEs Fannie Mae and Freddie Mac in August 2008. Over 250,000 of them took place in the second quarter of this year as the pandemic caused millions of job layof... (read more) Sales and Ops Jobs; Marketing and Credit Products; Cybercrime Update; Watching the Stimulus Quagmire Fri, Sep 25, 2020 9:13AM TGIF! Do Fridays mean as much as they did up until mid-March? Yes! Well, maybe. How about some non-mortgage stuff? There is, after all, life outside of RESPA. It’s crazy at the nursery via webcam at the Warrior Canine Puppy Live (although sometimes they let them roam outside). How about the oldest recording of a U.S. President? (It’s short.) Here... (read more) Latest Video Why Latinos are driving the increase in homeownership Democrats' relief package could be voted on as soon as next week U.S. durable goods orders rose 0.4% in August, vs 1.8% increase expected Pace of mortgage bailouts improve as 3.6 million still delay payments Around the Web Calculated Risk Blog September Vehicle Sales Forecast: 5% Year-over-year Decline Brookings Institution Charts of the Week: Federal debt, middle-class income, rental housing distress NAR - Realtor.com U.S. Buyers Face Significant Inventory Shortages CNBC Taxes are likely to go up for the wealthy in these nine states Calculated Risk Blog Q3 GDP Forecasts CNBC It's not entirely clear how the government will pay for Trump's $200 Medicare cards CNBC Home remodeling during Covid-19'expect it to cost 50% more and take 50% longer,' says finance expert news.google.com Mnuchin and Powell back jobless aid and small business loans Calculated Risk Blog Lawler: Serious Delinquency Rate on FHA-Insured SF Loans Up Again in August Reuters U.S. core capital goods orders increase more than expected in August Redfin Home Prices Just. Keep. Climbing. National Median Now Up 14% from Last Year twitter.com FHFA Further Extends Buying Loans in Forbearance & COVID-Related Loan Processing Flexibilities Reuters TREASURIES-Yields dip on mixed economic data, stalled stimulus - Reuters

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