Black Knight reports that rate locks, as measured by the company's Market Volume Index, declined 4.7 percent from October to November. Those for refinancing dropped by 9.7 percent even as interest rates remained fairly stable while purchase locks were down 3.9 percent. The total index, at 240, is 20.1 percent lower than in November 2020. The year-over-year changes are lop-sided. Purchase locks in November decreased 12.6 percent while refinancing fell 65 percent compared to November 2020, a point at which interest rates on the various loan products were 31 to 58 basis points (bps) lower. Forty-five percent of originations in November 2021 were for refinancing as both rate and term and cash-out volume fell. The company's Originations Mortgage Monitor notes, "With interest rates climbing and more

December 13, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 13, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.48 -0.08   95.05 100.11 UMBS 30YR 5.5 101.01 -0.05   97.47 101.40 10 YR Treasury 4.111 +0.035   3.932 4.780 MBS Price Change UMBS 4.5 97.33 -0.23 UMBS 5.0 99.47 -0.09 UMBS 5.5 101.04 -0.02 GNMA 4.5 97.41 -0.23 GNMA 5.0 99.64 -0.09 GNMA 5.5 100.80 -0.02 Pricing as of: 11/3 2:18PM EST US Treasury Yield Change 2 YR Treasury 3.605 +0.031 5 YR Treasury 3.723 +0.039 7 YR Treasury 3.906 +0.032 10 YR Treasury 4.111 +0.036 30 YR Treasury 4.693 +0.040 Pricing as of: 11/3 2:18PM EST Other News Rates Pushing Back on Refi Volumes Mon, Dec 13, 2021 11:48AM Black Knight reports that rate locks, as measured by the company's Market Volume Index, declined 4.7 percent from October to November. Those for refinancing dropped by 9.7 percent even as interest rates remained fairly stable while purchase locks were down 3.9 percent. The total index, at 240, is 20.1 percent lower than in November 2020. The year-over-year c... (read more) Jumbo and Conventional Loans Easier to Obtain in November Fri, Dec 10, 2021 10:50AM Access to jumbo mortgage credit continued to increase in November, but the Mortgage Bankers Association (MBA) says it is still down significantly from pre-pandemic levels . Overall access fell during the month according to MBA's Mortgage Credit Availability Index (MCAI) which dipped by 0.6 percent. The decrease, however, was due solely to a constriction on t... (read more) CFPB Announces Final Rule for LIBOR Transition Thu, Dec 9, 2021 11:08AM LIBOR has taken longer to exit the stage than Lawrence Olivier, but the final curtain call is coming for the index. The Consumer Financial Protection Bureau (CFPB) has now finalized the rule for how creditors must select replacements for LIBOR , the London Interbank Offered Rate, once used for adjusting many financial products including derivatives and adjus... (read more) Servicing, Closing, AI, MI Products; USDA, FHA, Ginnie News; Rates Quiet... Holiday Slow Down? Mon, Dec 13, 2021 11:31AM Everyone has a plan until they get punched in the mouth. If you haven’t seen a video this one from a drone ) of the destruction in the South and Midwest, especially Kentucky, take a look. The loss of human and animal life is terrible, and it will take years to clean up and rebuild the communities. (Many in our industry have had some good years; The Bet... (read more) Latest Video Inflation next summer will be ahead of what Fed thinks, says CNBC's Steve L... The 9am Bond Report - December 13, 2021 U.S. Treasury to stiffen real estate cash deals after billions laundered Why rent prices are rising so quickly Around the Web CNBC More Americans see inflation as the biggest risk to their retirement plans Reuters Wall Street falls as investors eye Omicron and Fed meeting Reuters Biden to talk with Manchin on sweeping $1.75 trillion spending bill Calculated Risk Blog A Few Comments on Inflation Reuters U.S. consumers see short-term inflation rising at twice pace of wage gains, survey shows Calculated Risk Blog Housing Inventory December 13th Update: Inventory Down 3.3% Week-over-week Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC El-Erian says 'transitory' was the 'worst inflation call in the history' of the Fed CNBC Treasury yields edge lower with omicron, Fed meeting in focus NY Fed New York Fed purchases $2.799 billion in Treasurycoupons CNBC Fed is expected to speed up end of bond buying and signal interest rate hikes are coming Calculated Risk Blog 2nd Look at Local Housing Markets in November Calculated Risk Blog Q4 GDP Forecasts: Moving Up

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