Like a rising tide, rising prices are pushing a lot of other financial elements higher. Earlier this week surging home prices drove a near $100K increase in conforming loan limits, now regulators have raised the dollar threshold for an exemption to the Truth in Lending Act (TILA) based on rising wages. Section 129H of TILA establishes special appraisal requirements for "higher-risk mortgages," termed "higher-priced mortgage loans" or "HPMLs" in the agencies' regulations. The Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA) jointly issued final rules implementing these requirements

December 3, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.17% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.75% -0.05%   5.6% 6.59% 30 Yr. Jumbo 6.15% -0.03%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Dec 3, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.17% -0.05 0.00 15 Yr. Fixed 5.75% -0.05 0.00 30 Yr. FHA 5.90% -0.08 0.00 30 Yr. Jumbo 6.15% -0.03 0.00 7/6 SOFR ARM 5.70% 0.00 0.00 30 Yr. VA 5.92% -0.08 0.00 Updates Daily - Last Update: 10/21 Freddie Mac Rate Change Points 30 Yr. Fixed 6.27% -0.03 0.00 15 Yr. Fixed 5.52% -0.01 0.00 Updates Weekly - Last Update: 10/16 Mortgage Bankers Assoc. 30 Yr. Fixed 6.42% -0.01 0.61 15 Yr. Fixed 5.77% 0.00 0.70 30 Yr. Jumbo 6.47% -0.13 0.53 Updates Weekly - Last Update: 10/15 UMBS 30YR 5.0 99.99 +0.09   95.05 99.99 UMBS 30YR 5.5 101.29 +0.07   97.47 101.29 10 YR Treasury 3.954 -0.025   3.932 4.780 MBS Price Change UMBS 4.5 98.17 +0.11 UMBS 5.0 99.97 +0.07 UMBS 5.5 101.28 +0.06 GNMA 4.5 98.11 +0.08 GNMA 5.0 99.95 +0.14 GNMA 5.5 100.96 +0.02 Pricing as of: 10/21 2:28PM EST US Treasury Yield Change 2 YR Treasury 3.453 -0.004 5 YR Treasury 3.556 -0.016 7 YR Treasury 3.734 -0.023 10 YR Treasury 3.957 -0.022 30 YR Treasury 4.543 -0.027 Pricing as of: 10/21 2:28PM EST Other News TILA Appraisal Exemption Threshold Moves Higher Thu, Dec 2, 2021 11:26AM Like a rising tide, rising prices are pushing a lot of other financial elements higher. Earlier this week surging home prices drove a near $100K increase in conforming loan limits, now regulators have raised the dollar threshold for an exemption to the Truth in Lending Act (TILA) based on rising wages. Section 129H of TILA establishes special appraisal requi... (read more) Residential Construction No Longer Dominating Spending Wed, Dec 1, 2021 4:55PM National spending on construction spending rose slightly in October, but for the second month in a row, the increase wasn't driven by the residential sector. The U.S. Census Bureau reported that construction put in place during the month was at a seasonally adjusted annual rate of $1.598 trillion, an 0.2 percent increase from September and up 8.6 percent com... (read more) Mentoring, Recruiting, Productivity Tools; Investor's FHA, VA, USDA Program News; Better.com Layoff Video Fri, Dec 3, 2021 10:56AM Huh? Someone told me that “reality” shows are all scripted out ahead of time and there’s a standard recipe! What the heck?! There are some things where recipes are expected, like making food. Popular Mechanics takes us inside the largest handmade candy factory in this interesting video. Hammond’s Candies has been making its world-famo... (read more) Latest Video The 2pm Bond Report - December 3, 2021 Jobs report was reasonably firm despite low payroll number, Goldman's Hatzi... The 9am Bond Report - December 3, 2021 November ISM services index beats expectations at 69.1 Around the Web Fannie Mae Consumers Continue to Drive Economic Growth as Employment Report Sends Mixed Signals Calculated Risk Blog Black Knight: Number of Mortgages in Forbearance "Drops Below the Million Mark" Calculated Risk Blog AAR: November Rail Carloads Down Compared to 2019; Intermodal Up Slightly Reuters Faster Fed taper, earlier rate hikes in sight despite slower job gains Reuters Explainer-Could the Omicron variant bring milder illness? CNBC Here's where the jobs are in one chart Calculated Risk Blog Comments on November Employment Report CNBC Job growth disappoints in November despite high hopes CNBC Treasury yields dip ahead of jobs report Fannie Mae Barriers to Entry: Closing Costs for First-Time and Low-Income Homebuyers Calculated Risk Blog Rents Still Increasing Sharply Reuters Democrats, Republicans in U.S. Congress reach deal in government shutdown talks Calculated Risk Blog October Employment Preview

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