In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions' 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for a comparable home and found owning more affordable 572 or 63 percent of them. The company says this has happened despite home prices increasing faster than rents in 83 percent of the counties and faster than wages in two-thirds. Renting, however, remains more affordable in the biggest cities. "Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check," said Todd

January 8, 2021 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 Jan 8, 2021 Mortgage Rates Are Actually HIGHER Today and This Week Thu, Jan 7, 2021 5:40PM Mortgage rates moved higher today, but only a modest pace compared to yesterday (read more about yesterday's rate rout HERE ). Over the past two days, the average rate quote for a top tier conventional 30yr fixed loan has risen by an eighth of a percent (.125%). Yesterday accounts for essentially all of the move, making it one of only a handful of days with as much upward movement in the past few years. Is an eighth of a point a big deal? Only you can answer that. It comes out to about $7/month for every $100k in loan amount. For some, it's not a big deal, but for others it can make or break a... (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 5.5 101.10 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Recap: Bonds Determined To Sell Despite Weaker NFP Fri, Jan 8, 2021 3:44PM Bonds Determined To Sell Despite Weaker NFP The bond market considered rallying in response to this morning's weak jobs data--at least at first.  But it didn't take long for the bears to take over, ultimately pushing 10yr yields up and over 1.10% by the 3pm CME closing bell.  The subtle saving graces inside... (read more) MBS Price Change UMBS 5.0 99.50 +0.06 UMBS 5.5 101.10 +0.03 UMBS 6.0 102.41 +0.03 GNMA 5.0 99.78 +0.05 GNMA 5.5 101.05 +0.00 GNMA 6.0 102.05 +0.07 Pricing as of: 9/10 5:58AM EST US Treasury Yield Change 2 YR Treasury 3.542 -0.026 5 YR Treasury 3.603 -0.024 7 YR Treasury 3.805 -0.028 10 YR Treasury 4.081 -0.002 30 YR Treasury 4.734 -0.001 Pricing as of: 9/10 5:58AM EST Other News Still Cheaper to Own than Rent in Majority of U.S. Counties Fri, Jan 8, 2021 1:23PM In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions' 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for a comparable home and found owning more affordable 572 or 63 percent of them. The company says this has happen... (read more) Pandemic Took a Bigger Bite Out of Upbeat Housing Attitudes in December Thu, Jan 7, 2021 5:32PM That the pandemic is worse today than it was last spring appears to be finally dawning on a lot of consumers and the Home Purchase Sentiment Index (HPSI) for December reflects it. Fannie Mae says its index, based on six questions from its monthly National Housing Survey, dropped 6.0 points to 74.0. Five of the components moved lower and the sixth was unchang... (read more) Black Knight Notes Slowdown in Forbearance Improvement Fri, Jan 8, 2021 1:20PM A month end wave of plan expirations in December led to a substantial decline in the number of active forbearances during the first week of 2021. Black Knight says there were 92,000 fewer active plans as the week ended, a decline of 3 percent and the largest weekly drop since early November. Many of the plans that expired were reaching the 9-month mark. Prog... (read more) Reverse, MLO, Ops Jobs; Social Media, Efficiency, CRA, CRM Products; Broker Training; Neobank Closures and SoFi IPO Fri, Jan 8, 2021 10:31AM While the industry watches the personnel changes at Arch and National MI, I received several texts and emails pleading, “I’d like to cancel my subscription to 2021. I’ve experienced the free 7-day trial and I’m not interested.” This, after photos of “Chief Running Bull” at the Vice President’s desk on Wednesday... (read more) Latest Video Covid-19 mortgage bailout improvement shrinking U.S. GDP growth forecast for 2021 is strong: Bank of America's Meyer The Bond Report - 9am - January 08, 2021 Fall 2021 could look like a new normal, says former FDA chief Scott Gottlie... Around the Web Calculated Risk Blog Q4 GDP Forecasts Yahoo News Fed transcripts show doubts about need for 2015 rate hike CNBC The jobs picture looks negative and could continue to be, but economists see underlying strength CNBC Clarida says Fed bond purchases to keep pace through the rest of the year Calculated Risk Blog NMHC: Rent Payment Tracker Shows Households Paying Rent Decreased 1.7% YoY in Early January Calculated Risk Blog Comments on December Employment Report CNBC Economy sees job loss in December for the first time since April as surging virus takes toll news.google.com Why it's gotten harder to buy a second home CNBC Retail rents tumble to historic lows in New York City, amid bankruptcies and store vacancies Calculated Risk Blog Goldman December Payrolls Preview CNBC Buyers and sellers are substantially more pessimistic about the housing market, as Covid cases surge again Calculated Risk Blog Hotels: Occupancy Rate Declined 17.2% Year-over-year Calculated Risk Blog December Employment Preview

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