Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The two components of the Conventional MCAI posted significant increases. The Conforming MCAI jumped 7.7 percent and the Jumbo component was up 2.2 percent, pushing the parent index up 4.8 percent compared to December. This was slightly offset by an 0.1 percent decline in the Government MCAI. "The growth in credit availability in January coincides with a housing market that is poised for a strong start to the year . Improvements were driven by the conventional segment of the mortgage market

February 10, 2021 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 Feb 10, 2021 Mortgage Rates Slightly Higher Tue, Feb 2, 2021 3:44PM Mortgage Rates were steady to slightly lower yesterday even though prevailing trends in the bond market suggested caution. Today's trading is a different story. Granted, there haven't been any huge, dramatic moves, but today's bond market weakness adds a bit of evidence for a more cautious approach. In general, rates are biding their time in a low, narrow range (just slightly higher than the all-time low range seen at the end of 2020) before making their next big move. That "next move" is to-be-determined. It will take guidance from things like economic data, fiscal stimulus, major covid-relat... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Recap: CPI and 10yr Auction Make a Case For a Near-Term Rate Ceiling Wed, Feb 10, 2021 3:23PM CPI and 10yr Auction Make a Case For a Near-Term Rate Ceiling NOTE: charts look weak this morning despite strong MBS due to THE ROLL. See the 2nd half of the Day Ahead for another useful chart.  Bonds started strong thanks to a weak CPI report.  Actually bonds were ready to sell today, but CPI reversed the ... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 7:06PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 7:06PM EST Other News Conforming Loan Standards Loosened in January Tue, Feb 9, 2021 11:35AM Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The two components of the Conventional MCAI posted si... (read more) November Delinquencies at Lowest Levels Since June Tue, Feb 9, 2021 11:27AM Mortgage delinquencies are continuing a slow retreat into pre-pandemic territory. CoreLogic's Loan Performance Report for November put the percentage of loans that were 30 or more days past due, including those in foreclosure at 5.9 percent. While this is still 2 points higher than the rate in November 2019, it is the lowest overall rate since the initial su... (read more) Buyers and Sellers Both More Upbeat in 2021 Tue, Feb 9, 2021 8:48AM Consumers expressed more positive sentiments toward the housing market as 2021 arrived, sending Fannie Mae's Home Purchase Sentiment Index (HPSI) a bit higher. The most significant gains came from increased optimism about the climate for selling a home. The index increased by 3.7 points to 77.7 in January, erasing at least a portion of its 6-point loss in De... (read more) IT Jobs; VOE, CRM, Non-QM Products; Conventional Conforming News; CPI: No Inflation Worries Wed, Feb 10, 2021 9:51AM Here we are in the seemingly 58 th week of 2020. What’s new? The podcast of today’s commentary features thoughts from the Millennial host on how lenders can address that market, and it can be heard via Apple , Spotify , or Google : subscribe and download. In terms of news, the FHFA extended forbearance protection past March. (More below on that.)... (read more) Latest Video We are not thinking about shrinking the balance sheet: Fed's Powell Fiscal policy an essential tool for this situation: Powell Lumber prices surge 'through the roof,' up 113% year-over-year The Bond Report - 9am - February 10, 2021 Around the Web Reuters Fed's Powell calls for broad national drive to full employment Reuters U.S. January budget deficit hits record $163 billion as new aid checks sent out CNBC Watch Fed Chair Jerome Powell speak live to the Economic Club of New York CNBC Fed Chair Powell, citing bleak jobs picture, says policy will need to stay 'patiently accommodative' CNBC House panel advances $15 minimum wage as Democrats try to include it in Covid relief bill Reuters Wall Street opens at record levels ahead of Powell talk Calculated Risk Blog BLS: CPI increased 0.3% in January, Core CPI Unchanged CNBC Treasury yields rise slightly ahead of Fed chair speech Fannie Mae Fannie's DU Release Notes For March 13th Update (DTI, Self-Employment, PIWs, Etc.) Reuters In meeting with business leaders, Biden backs stricter income limits for stimulus checks Reuters 62.9 million doses of COVID-19 vaccines delivered, 43.2 million administered: U.S. CDC CNBC Biden and Yellen to meet with CEOs of JPMorgan, Walmart, Gap to talk stimulus CNBC A return to the office for workers may be coming as vaccinations increase

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