As was probably inevitable, foreclosure files rose significantly in the third quarter of 2021 and appeared to accelerate in the last month of that quarter. The moratorium on foreclosures which was put in place in March 2020 in response to the COVID-19 pandemic expired on July 31. ATTOM, in its Q3 2021 U.S. Foreclosure Market Report says there were 45,517 foreclosure filings - default notices, scheduled auctions or bank repossessions - during the quarter, a 34 percent increase from Q2 and 68 percent more than in the third quarter of last year. Over 19,000 of those filings occurred in September, 24 percent more than in August and slightly more than double (102 percent) the volume in September 2020. "Despite the increased level of foreclosure activity in September, we're still far below historically

October 15, 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 Oct 15, 2021 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 6:59AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.060 +0.021 30 YR Treasury 4.718 +0.028 Pricing as of: 9/9 6:59AM EST Other News Foreclosure Filings Reflect End of Moratorium Fri, Oct 15, 2021 11:18AM As was probably inevitable, foreclosure files rose significantly in the third quarter of 2021 and appeared to accelerate in the last month of that quarter. The moratorium on foreclosures which was put in place in March 2020 in response to the COVID-19 pandemic expired on July 31. ATTOM, in its Q3 2021 U.S. Foreclosure Market Report says there were 45,517 for... (read more) Forbearances Declining Faster, Plans Drop by 10% Fri, Oct 15, 2021 1:32PM The number of homeowners in forbearance receded at a brisk clip last week as the first wave of final expirations continues. Black Knight reports the number of active plans dropped by about 10 percent during the week ended October 12 , a reduction of 143,000. This comes on the heels of a 177,000 drop the prior week. The declines were seen across all investor ... (read more) MLO Jobs; Cap. Mkts., Analytics, Decisioning, Fee Collection Tools; Processing Changes; Primer on Tapering Fri, Oct 15, 2021 10:52AM Life is full of decisions. One space or two after a period in a sentence? Move to a state with no state income tax, or stay put? Wells Fargo is no longer the largest bank in the U.S. based on workforce, and I imagine trimming overhead was a conscious decision on Wells’ part. If you’re in the wholesale or correspondent channel, is there enough pro... (read more) Latest Video The 9am Bond Report - October 15, 2021 September retail sales rise 0.7% despite expected decline Richmond Fed President Barkin on inflation and supply chain woes Foreclosures surge this month, still below pre-pandemic levels Around the Web Calculated Risk Blog Q3 GDP Forecasts: Around 2% National Associattion of Realtors Instant Reaction: Retail Trade Sales October 15, 2021 CNBC Fed's Barkin backs tapering plans and expresses concern about inflation National Associattion of Realtors Commercial Weekly: Retail Vacancy Rates at Lowest Levels Since Q2 2020 CNBC Retail sales unexpectedly gain in September as consumers keep spending Brookings Institution With only 194,000 jobs added, September's jobs report disappoints Redfin Rental Market Tracker: Mortgage Payments Rose Faster Than Rents for the 8th Consecutive Month in September Reuters Powell still favorite for Fed reinstatement but investors examine alternatives Reuters Vulnerable U.S. homeowners face uncertainty as mortgage forbearance ends CNBC Foreclosures are surging now that Covid mortgage bailouts are ending, but they're still at low levels Calculated Risk Blog House Prices to National Average Wage Index CNBC Borrowers have a year to get a second shot at public service loan forgiveness Calculated Risk Blog Hotels: Occupancy Rate Down 9.6% Compared to Same Week in 2019

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