Two Urban Institute (UI) analysts have raised an alarm about changes to federal regulations that threaten to limit access to important data about the mortgage market and credit availability for low and moderate-income borrowers and communities. Most of the changes are coming through rulemaking at the Consumer Financial Protection Agency (CFPB) and relate to the Home Mortgage Disclosure Act (HMDA). Researchers Ellen Seidman and Lauri Goodman said the loss of access to important data has been quiet and steady. However, three current rulemakings, one final, one proposed, and one at an early stage, promise to exacerbate the situation and affect both the public and policymakers. They add that the possibility the COVID-19 pandemic could trigger another credit crisis makes this especially troubling

May 5, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for May 5, 2020 Cost of Imperfection Remains High in The Mortgage World Mon, May 4, 2020 5:04PM Mortgage rates moved off their recent lows to start the new week, but only slightly. That keeps the average lender very close to the lowest rates in roughly 2 months. It also keeps us fairly close to the lowest rates ever. In fact, some lenders were at their best rates ever last Friday, but they were the exception. Am I perhaps splitting hairs here? Absolutely. When you follow rates as closely as we do, we're forced to consider not only the quoted interest rates themselves, but also the fluctuations in upfront costs for any given rate. In other words, the actual rate at the top of a loan quote... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Day Ahead: Temporary Weakness Or Bigger-Picture Resistance? Tue, May 5, 2020 9:38AM Despite being in a narrow range in the bigger picture, 10yr Treasury yields have generally been moving moderately higher since April 21st.  MBS have managed to avoid a similar trend, but they haven't managed to break above their best levels from the same week.  To make matters somewhat more disconcerting , they just broke below their supportive ... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 8:03PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 8:03PM EST Other News Agencies are Cutting Access to Mortgage Data for Low-Income Borrowers Tue, May 5, 2020 12:05PM Two Urban Institute (UI) analysts have raised an alarm about changes to federal regulations that threaten to limit access to important data about the mortgage market and credit availability for low and moderate-income borrowers and communities. Most of the changes are coming through rulemaking at the Consumer Financial Protection Agency (CFPB) and relate to ... (read more) Home Price Growth Slows, Mostly Unchanged in April Tue, May 5, 2020 8:23AM CoreLogic's Home Price Index for March showed that the spring market started out strongly, with price appreciation from the previous month of 1.3 percent compared to a gain of 0.6 percent from January to February. The annual increase was 4.5 percent, a half point more than the year-over-year increase the previous month That, however, is history. The company,... (read more) Forbearance Problem Remains Huge, But The Pace is Slowing Mon, May 4, 2020 4:27PM The Mortgage Bankers Association (MBA) has confirmed the findings that Black Knight reported on Monday morning that, while the number of forbearances in effect as a result of the COVID-19 pandemic continues to rise, the rate of increase slowed as April progressed. MBA said its weekly survey found the number of loans in a forbearance plan increased from 6.99 ... (read more) LO Jobs; CRM, Audit, Doc Products; Upcoming Events and Training Mon, May 4, 2020 9:15AM May the 4th be with you as the use of the word “unprecedented” continues to be… unprecedented. While in captivity it is important to get out outside once in a while and see the countryside . Of course hairdressers around the nation are saying that, thanks to COVID-19, everyone now knows everyone’s true hair color on WebEx and Zoom. A... 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