Members of the Mortgage Bankers Association (MBA) are holding their annual convention in San Diego this week and the opening day was accompanied by the usual flurry of press releases including forecasts from the association's economists for the coming year. The projections, from Mike Fratantoni, Chief Economist and Senior Vice President for Research and Industry Technology; Joel Kan, Associate Vice President of Economic and Industry Forecasting; and Marina Walsh, CMB, Vice President of Industry Analysis, are rooted in expectations of robust homebuyer demand from millennial households and those seeking more space. These factors and still-low mortgage rates will provide favorable tailwinds for the housing market next year. Headlining the forecast is growth of 9.0 percent in purchase mortgage

October 18, 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 18, 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 7:01AM 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 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:01AM EST Other News MBA Expects 2022 Plunge in Refis to Offset Purchase Gains Mon, Oct 18, 2021 12:21PM Members of the Mortgage Bankers Association (MBA) are holding their annual convention in San Diego this week and the opening day was accompanied by the usual flurry of press releases including forecasts from the association's economists for the coming year. The projections, from Mike Fratantoni, Chief Economist and Senior Vice President for Research and Indu... (read more) Supply Issues Aren't Hurting Builder Sentiment - Yet Mon, Oct 18, 2021 12:19PM Home builders apparently pushed aside current concerns about supply chain disruptions to display increased confidence in the new home market in October. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) which gauges that confidence rose 4 points this month to 80. However, NAHB economist Robert Dietz says that, despite th... (read more) LO Jobs and Transitions; Broker, Credit, Debt Recovery, Reverse Products; Redwood Results; Wholesaler News Mon, Oct 18, 2021 10:20AM One discussion topic here at the MBA’s annual conference, besides how rates are pressing higher, is how wonderful the San Diego weather is. But there are much better places to see autumn colors than coastal Southern California. (The 2021 Fall Foliage Map is a visual planning guide to the annual progressive changing of the leaves in the U.S.; slide the ... (read more) Latest Video The 2pm Bond Report - October 18, 2021 Zillow could restart buying homes early next year, former CEO guesses NAHB Sentiment Index data better than expected The 9am Bond Report - October 18, 2021 Around the Web Calculated Risk Blog Housing Inventory Oct 18th Update: Inventory Down Slightly Week-over-week CNBC Homebuilder sentiment bounces back despite ongoing supply chain problems Calculated Risk Blog Industrial Production Decreased 1.3 Percent in September CNBC Nearly 10 million student loan borrowers will have their servicer switched by the end of the year CNBC Mortgage originations will drop 33% in 2022 as interest rates rise, according to industry forecast Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC 10-year Treasury yield back above 1.6% to start the week 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

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