Freddie Mac has published research examining the characteristics of borrowers who took advantage of the availability of forbearance plans in the early part of the COVID-19 pandemic. Mortgage forbearance temporarily removes the obligation for borrowers to make their monthly mortgage payment. Forbearance plans are typically used by borrowers who experienced a sudden loss of employment, a reduction in income or damage from a natural disaster. Freddie Mac looked at internal loan-level servicing information on forbearance of its mortgages during three different periods , comparing COVID forbearance rates from March to June 2020 against a baseline period running from January 2019 to February 2020 and the 2017 storms and recovery from August to December 2017. For that later period only loans eligible

November 18, 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 Nov 18, 2020 Mortgage Rates Remain Near Recent Lows Tue, Nov 17, 2020 4:20PM Mortgage rates were little-changed today, with the average lender only microscopically better than yesterday. That means few loan seekers will notice any difference from yesterday. That leaves us in line with the low rate levels seen immediately following the election earlier this month, and that's as low as rates have been since early August, as long as we're talking about purchase mortgage rates. Refis continue to suffer relative to purchases due to the adverse market fee imposed by Fannie Mae and Freddie Mac (rolled out by lenders at various times over the past 2 months). Today was somewhat... (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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Recap: Yields Give Up Early Lead But Remain Near 2-Week Lows Wed, Nov 18, 2020 4:57PM Yields Give Up Early Lead But Remain Near 2-Week Lows Today ended up being about as big of a roller coaster as we could expect in the absence of any significant data, events, or market movement.  In other words, there was only a 4bp trading range in 10yr yields during the day, but it felt like more was at stake ... (read more) MBS Price Change UMBS 5.0 99.52 -0.25 UMBS 5.5 101.15 -0.13 UMBS 6.0 102.46 -0.08 GNMA 5.0 99.87 -0.20 GNMA 5.5 101.11 -0.08 GNMA 6.0 102.09 -0.10 Pricing as of: 9/9 12:03PM EST US Treasury Yield Change 2 YR Treasury 3.537 +0.049 5 YR Treasury 3.605 +0.043 7 YR Treasury 3.809 +0.040 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.732 +0.041 Pricing as of: 9/9 12:03PM EST Other News How Homeowners' Credit Profiles Impact Forbearance Wed, Nov 18, 2020 3:18PM Freddie Mac has published research examining the characteristics of borrowers who took advantage of the availability of forbearance plans in the early part of the COVID-19 pandemic. Mortgage forbearance temporarily removes the obligation for borrowers to make their monthly mortgage payment. Forbearance plans are typically used by borrowers who experienced a ... (read more) Strong Construction Data Led by Single Family Homes Wed, Nov 18, 2020 3:16PM Residential construction data for October was mixed. The U.S. Census Bureau and Department of Housing and Urban Development reported that the rate of permitting flattened and completions declined. Housing starts, usually considered the key number, continued to climb. Permits for residential construction were issued at a seasonally adjusted annual rate of 1,5... (read more) MBA Expects 2020 Refis to Nearly Double 2019's Wed, Nov 18, 2020 9:06AM The Mortgage Bankers Association's (MBA's) November 2020 economic forecast ups the ante from its rosy October version. Its revisions are due to the strong pace of home sales and low interest rates which continue to fuel a refinancing boom. MBA has increased its prediction for total mortgage originations from the $3.175 trillion estimate in October to $3.39 t... (read more) VOE, Cash Flow, Remote Work Tools; Companies Performance Mimicking Industry's Wed, Nov 18, 2020 9:13AM If you had 20 million close friends, and each one owed $500k on their house, the total would be $10 trillion of mortgage debt. Coincidentally, that is how much mortgage debt is out there in the United States. (Doesn’t every MLO wish all that debt was at 4 percent!) I love headlines like, “National Association of Realtors Says Home Prices Are Risi... (read more) Latest Video U.S. housing starts total 1.53 million in October, vs. 1.46 million expecte... Homebuyer demand is surging after taking a slight break around the election Here's why the Fed's emergency lending programs may still be necessary Home builder confidence reaches all-time-high Around the Web NAHB Eye on Housing Single-Family Built-for-Rent Construction Expands CNBC Coronavirus vaccine shots could go to U.S. health workers in about a month Calculated Risk Blog Comments on October Housing Starts CNBC Pfizer says final data analysis shows Covid vaccine is 95% effective plans to submit to FDA in 'days' Reuters Global debt to hit record $277 trillion by year end on pandemic spending splurge: IIF FHFA FHFA Announces Final Capital Rule for the Enterprises news.google.com Powell: Fed committed to loose money, low rates for 'as long as it takes' as COVID-19 surges NAHB Eye on Housing Senior Loan Officer Opinion Survey Q3 2020 CNBC Shelton Fed nomination fails key Senate procedure vote, likely ending her chances NAHB Eye on Housing Building Materials Prices Little Changed in October CNBC One chart reveals depth of damage to U.S. economy during Covid crisis, Leuthold's Jim Paulsen says Calculated Risk Blog NY Fed Q3 Report: "Total Household Debt Increased in Q3 2020, Led by Surge in New Credit Extensions" CNBC Congress is far from sending more stimulus help as coronavirus cases surge and economic pain looms

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