A paper written for the Joint Center on Housing Studies at Harvard University focuses on the causes and effects of mortgage credit tightening in the current COVID-crisis. The author, Don Layton, is a former CEO of Freddie Mac and a Senior Industry Fellow at the Center. One of the biggest pandemic-related issues to emerge in housing finance is the availability of credit. Tightening is being discussed as a major problem, perhaps on a par with the last financial crisis. The implication seems to be that much if not all of that tightening is illegitimate, a failure of government policy that could be avoided with the right actions that do not require subsidies for small business or specific industries. Layton questions this view and examines how mortgages are made today and who sets the credit standards

June 23, 2020 Download our Mobile App: Download our Mobile App: Housing News Mortgage Programs Drying Up Like 2008, But For Completely Different Reasons A paper written for the Joint Center on Housing Studies at Harvard University focuses on the causes and effects of mortgage credit tightening in the current COVID-crisis. The author, Don Layton, is a former CEO of Freddie Mac and a Senior Industry Fe... (read more) Housing News CFPB Looks at Changing Qualified Mortgage Rule, Lifting DTI Limits With its so-called GSE Patch set to expire on January 10, 2021 (unless by some miracle the conservatorship of Fannie Mae and Freddie Mac (the GSEs) ends earlier), the Consumer Financial Protection Agency (CFPB) has issued two proposed amendments to t... (read more) Housing News April New Home Sales Surge, Rising Over 16% After its pandemic-related plunge in April, the rapid recovery of the Housing Market Index, a measure of builder confidence, seems justified by today's Census Bureau report on new home sales. For the second month in a row, sales of newly constructed ... (read more) MBS Commentary MBS Live Recap: Decent Day For MBS But Broader Trend Remains a Concern Decent Day For MBS But Broader Trend Remains a Concern Rates are low. Unless coronavirus wins (or looks like it might), rates should continue to gradually move higher, but not in a straight line.  K... (read more) Rob Chrisman LO Jobs; Outsourcing, DPA, Marketing Products; Thoughts on the CFPB's Non-QM Proposal There are all kinds of things that I don’t, or didn’t, know. For example, the other day I learned that when dogs lap water, they’re actually scooping up water with the back of their tongue , which is curled like an elephant’s ... (read more) Mortgage Rate Watch Mortgage Rates Hold Ground Near Lows. Can it Continue? Mortgage rates held their ground today, with the average lender in roughly the same shape as they were on Friday. Incidentally, that's great shape! When it comes to the best-case scenario conventional 30yr fixed quote, rates are still very close to t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.07 +0.26 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:45PM EST 10 Year US Treasury 4.2246 -0.0567 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:45PM EST Latest Video We will get stronger existing home sales moving forward, says Moody's Mark ... May home sales jumped more than 16% as homebuyers seek better tech and more... Stocks rise after headlines clarify U.S.-China trade deal ongoing—Here's wh... New home sales jump 16.6% in May, vs. 1.9% expected Around the Web CNBC Housing market should 'cool off' later in year, Moody's economist Zandi says CNBC There's a wave of selling estimated to be in the billions that's about to hit the stock market Calculated Risk Blog NMHC: Rent Payment Tracker Finds 92 Percent Paid Rent as of June 20th, Same Pace as in June 2019 Calculated Risk Blog A few Comments on May New Home Sales Calculated Risk Blog New Home Sales increased to 676,000 Annual Rate in May CNBC Europe's job retention schemes have created 9 million 'zombie jobs,' analyst warns CNBC U.S.-China trade deal will hold for now, former Trump trade negotiator says CNBC Treasury yields inch higher with recovery prospects, coronavirus cases in focus CNBC The Fed's corporate bond buying is stoking bubble fears NPR California Hits New High In COVID-19 Hospitalizations Calculated Risk Blog Comments on May Existing Home Sales NPR Get A Comfortable Chair: Permanent Work From Home Is Coming NAHB Eye on Housing Texas Led with Substantial Employment Gains in May

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