With mortgage volumes expected to decline, more lenders are telling Fannie Mae that they intend to loosen their credit standards. The company's second quarter 2017 Mortgage Lender Sentiment Survey found that, on net, the share of lenders reporting they have eased mortgage credit standards over the previous three months has continued the gradual uptick which started in the fourth quarter of last year. Additionally, when anticipating the next three months, the net share of lenders saying they plan to ease credit standards for GSE eligible, non-GSE eligible, and government loans reached or surpassed survey highs. "Expectations to ease credit standards climbed to survey highpoints in the second quarter as more lenders reported slowing mortgage demand and increasing concerns about competition from

August 23, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Aug 23, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 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 5.0 99.59 -0.37   95.05 100.50 UMBS 30YR 5.5 101.03 -0.20   97.47 101.61 10 YR Treasury 4.081 +0.050   3.643 4.780 MBS Live Day Ahead: Bonds Trying to Turn Recent Floor Into a Ceiling Wed, Aug 23, 2017 9:25AM Coincidentally, yesterday's Day Ahead talked about "pivot points."  Now today, we see a prime example of a pivot point in action.  Although I labeled it as 2.215% yesterday, let's simplify the conversation by using 2.22% today.   ... (read more) MBS Live Recap: With Nothing Better to Follow, Bonds Took Cues From Stocks Tue, Aug 22, 2017 4:23PM I'm not shy about dismissing the conventional wisdom of bond yields and stock prices following each other.  We're talking about some iteration of the quintessential quip: "buy stocks, sell bonds," or vice versa.  Over the shorter time horizons, we do indeed see that sort of relationship play out from time to time, but the opposite has been true f... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.03 -0.20 GNMA 4.5 98.02 -0.14 GNMA 5.0 99.82 -0.38 GNMA 5.5 100.89 -0.32 Pricing as of: 9/17 6:42PM EST US Treasury Yield Change 2 YR Treasury 3.564 +0.060 5 YR Treasury 3.656 +0.070 7 YR Treasury 3.839 +0.068 10 YR Treasury 4.081 +0.050 30 YR Treasury 4.688 +0.036 Pricing as of: 9/17 6:42PM EST Other News Competition, Declining Demand, Driving Credit Easing Wed, Aug 23, 2017 4:38PM With mortgage volumes expected to decline, more lenders are telling Fannie Mae that they intend to loosen their credit standards. The company's second quarter 2017 Mortgage Lender Sentiment Survey found that, on net, the share of lenders reporting they have eased mortgage credit standards over the previous three months has continued the gradual uptick which ... (read more) Worst Annual Pace in 3 Years For New Home Sales Wed, Aug 23, 2017 10:50AM New home sales in July were expected to remain steady after scoring a slight gain in June, instead they plunged to a rate even lower than those a year earlier. Three of the four geographic regions shared in the decline, Sales of newly constructed homes in July are estimated at a seasonally adjusted annual rate of 571,000 units. This is down 9.4 percent from ... (read more) Refinance Applications Continue Outperforming Purchases Wed, Aug 23, 2017 8:42AM The volume of refinancing applications, shored up by interest rates that remained at seven- and eight- month lows, rose for the fifth time in the last six weeks . However, during the week ended August 18, the gain was a marginal one, not enough to keep the overall level of applications from declining. The Mortgage Bankers Association said its Market Composit... (read more) LO Training Product; Upcoming Events; Vendors Partnering Up Wed, Aug 23, 2017 9:12AM Trends? A few weeks ago, Ally offered to beat any other lender’s price. And last week 360 Mortgage Group announced a new platform that will allow customers to receive approval for a loan in just 15 minutes and cuts down the closing process to as few as eight days. The company’s NOLO platform ("No Originating Loan Officer") lets customers "complet... (read more) Latest Video Mortgage interest deduction would affect small amount of taxpayers: Yale Un... Market jumped on tax reform but dropped on gov't shutdown New home sales down 9.4% Around the Web CNBC Dow drops nearly 90 points after Trump threatens government shutdown Market Watch Dow logs longest streak without a gain of at least 1% in 10 1/2 years CNBC Robert Shiller: Changes to popular deduction wouldn't have big effect on housing market Calculated Risk Blog A few Comments on July New Home Sales Bloomberg Lowe's Trails Home Depot in Remodeling Boom consumerfinancemonitor.com FFIEC issues new HMDA resubmission guidelines CNBC Deciding what to do with an inherited house: Live in it, rent it or sell it Calculated Risk Blog AIA: Architecture Billings Index "growth moderates" in July Market Watch Home-builders ETF down after new-home sales data CNBC New home sales plunge 9.4% in July, falling to 7-month low NAHB Eye on Housing Is the Multifamily Built-for-Rent Market Share Falling? Bloomberg Brexit Bulletin: A Wiggly Red Line Reuters Lowe's second-quarter profit jumps 21.6 percent

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