Higher interest rates pushed refinancing lower in August and lenders moved to generate more origination activity. That, in part, led to an increase in overall credit access. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) gained 3.9 percent to 123.7 during the month. An increase in the index indicates credit is loosening. The Conventional MCAI increased 7.6 percent, while the Government MCAI grew 1.1 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI was up 9.4 percent, and the Conforming MCAI rose by 5.1 percent. "Credit availability increased in August, driven by significant activity across all indexes," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "This expansion was heavily driven by

September 9, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for Sep 9, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.28 -0.02   97.47 101.61 UMBS 30YR 6.0 102.38 -0.07   99.66 102.50 10 YR Treasury 4.029 -0.012   3.621 4.780 MBS Price Change UMBS 5.0 99.95 +0.03 UMBS 5.5 101.26 -0.03 UMBS 6.0 102.37 -0.08 GNMA 5.0 100.25 +0.01 GNMA 5.5 101.19 -0.04 GNMA 6.0 101.90 -0.08 Pricing as of: 9/16 4:49PM EST US Treasury Yield Change 2 YR Treasury 3.513 -0.024 5 YR Treasury 3.590 -0.010 7 YR Treasury 3.777 -0.015 10 YR Treasury 4.033 -0.008 30 YR Treasury 4.651 -0.010 Pricing as of: 9/16 4:49PM EST Other News Credit Loosens as New Refi Programs Come on Line Thu, Sep 9, 2021 3:54PM Higher interest rates pushed refinancing lower in August and lenders moved to generate more origination activity. That, in part, led to an increase in overall credit access. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) gained 3.9 percent to 123.7 during the month. An increase in the index indicates credit is loose... (read more) Equity Explosion Bodes Well for Lenders Thu, Sep 9, 2021 3:52PM American homeowners got $20,000 richer in the second quarter just sitting in their family room. Black Knight’s newest Mortgage Monitor says that was the average gain in borrower equity during the quarter as home prices continued to soar. Tappable equity, the amount available to homeowners before reaching a maximum 80 percent combined loan-to-value (CLT... (read more) Ops, MLO Jobs; Lender Wanted; MBS Trading, CRM, Non-QM, Processing Products; Upcoming Events Thu, Sep 9, 2021 11:18AM I don’t think I’ve ever made a call, in recent years, to any number that wasn’t “experiencing high call volumes…” Owners of lenders are certainly fielding plenty of incoming calls. Mergers and acquisitions, buyouts, and activity by special-purpose acquisition companies are driving a frenzy of bank deal-making this year, w... (read more) Latest Video Covid causes 1400 schools to close in the US—Here's how it affects the econ... The 9am Bond Report - September 9, 2021 Initial jobless claims drop 35,000 to 310,000 ECB leaves rates unchanged, to scale back asset purchases Around the Web Calculated Risk Blog Leading Index for Commercial Real Estate "Loses Steam in August" Calculated Risk Blog 6 Local Housing Markets in August Reuters European bonds rally as ECB keeps stimulus cut to a minimum Reuters U.S. weekly jobless claims near 18-month low CNBC Treasury yields ebb lower amid weak jobs data, growth concerns Reuters Analysis-Investors betting on 'stable' choice of Powell renomination at Fed CNBC European Central Bank announces a slowing of its pandemic bond-buying program CNBC Businesses are feeling stronger inflation and paying higher wages, Fed's 'Beige Book' says The Basis Point 63% of Americans think it's a bad time to buy a home. Nevertheless, 70% say they'll buy (not rent) if moving. Reuters U.S. job openings vault to record high as employers scramble for workers Calculated Risk Blog Black Knight Mortgage Monitor for July; Tappable Equity Rises to All-Time High of $9.1 Trillion CNBC Yellen urges Congress to raise debt limit, warns Pelosi that extraordinary measures will run out in October Calculated Risk Blog BLS: Job Openings Increase to Series High 10.9 Million in July

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