Freddie Mae has announced a new single-close mortgage product that will allow homeowners to finance the cost of small scale renovations. The CHOICEReno eXPress will allow homebuyers to make cosmetic renovations , such as replacing windows and doors, roof repairs, minor remodeling and interior or exterior painting. The new product is an expansion of the existing Freddie Mac CHOICERenovation mortgages. The new loans will offer homebuyers and homeowners more affordable loan terms than using credit cards or unsecured financing when making small-scale renovations. Lenders can sell the new mortgages to Freddie Mac when the loan proceeds are used to pay for renovations of up to 10 percent of the home's as-completed value (up to 15 percent in rural regions with high needs classification) without requiring

August 6, 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 Aug 6, 2021 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 Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.14 GNMA 6.0 102.01 -0.17 Pricing as of: 9/9 5:50PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.615 +0.054 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.731 +0.041 Pricing as of: 9/9 5:50PM EST Other News Freddie Mac Set to Offer New Single-Close Renovation Loan Thu, Aug 5, 2021 4:47PM Freddie Mae has announced a new single-close mortgage product that will allow homeowners to finance the cost of small scale renovations. The CHOICEReno eXPress will allow homebuyers to make cosmetic renovations , such as replacing windows and doors, roof repairs, minor remodeling and interior or exterior painting. The new product is an expansion of the exist... (read more) Freddie Mac Refinance Share Now Under 60 Percent Wed, Aug 4, 2021 4:17PM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 12.9 percent in June compared to an 8.6 percent gain in May. The portfolio balance at the end of the period was $3.021 trillion compared to $2.980 trillion the prior month and $2.477 trillion a year earlier. Purchases and Issuances totaled $92.609 billion, and... (read more) AE, MLO Jobs; Warehouse, Broker Products; FHA and Loan Mods; Strong Jobs Data Moving Rates Fri, Aug 6, 2021 11:04AM We live in world of numbers. It has been 76 years since an atom bomb was dropped on Hiroshima. Let’s hope nothing close, with its 140,000 instantaneous deaths, ever happens again. Did you know that male houseflies live for 28 days, females for 25? (Think about that when your kids leave the screen door open.) 2020 was a great year for volume ($3.8 trill... (read more) Latest Video The 2pm Bond Report - August 6, 2021 Treasury yields rise after strong employment report The 9am Bond Report - August 6, 2021 Strong jobs report will boost market sentiment, says BlackRock's Kate Moore Around the Web Calculated Risk Blog Homebuilder Comments in July: "The frenzy is over, but things are still strong" CNBC Renters are behind on $3,700 in rent, on average. In some places, it's much more Calculated Risk Blog July Employment Report: 943 Thousand Jobs, 5.4% Unemployment Rate CNBC Nonfarm payrolls increase 943,000 in July vs. 845,000 estimate CNBC 10-year Treasury yield tops 1.25% ahead of key jobs report CNBC Friday's jobs report is a wild card with economists' estimates all over the map CNBC Wells Fargo postpones return-to-office plans by a month amid coronavirus surge Calculated Risk Blog July Employment Preview Reuters U.S. plans to give extra COVID-19 shots to at-risk Americans - Fauci CFPB CFPB Issues Interpretive Rule on Certain Mortgage and Disclosure Timing Requirements for the 2021 Juneteenth Federal Holiday Calculated Risk Blog Hotels: Occupancy Rate Down 6% Compared to Same Week in 2019 CNBC U.S. jobless claims total 385,000, matching estimates Reuters Dollar hits 8-day high on Fed talk, European stocks at record peak

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