It had been threatened from the beginning of the Trump administration, but this week the hammer fell. U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson has announced the formal termination of the Obama Administration's Affirmatively Furthering Fair Housing (AFFH) regulation issued in 2015 . In a press release Carson called the regulation "complicated, costly, and ineffective." Under the rule, any community receiving HUD money was required to analyze its housing occupancy by race, disability, familial status, economic status, English proficiency, and other categories and analyze any factors that present barriers to housing. It then must then formulate a plan to eliminate those barriers which must be approved or disapproved by HUD. This must be done every five years

July 24, 2020 Download our Mobile App: Download our Mobile App: Housing News HUD Eliminates Obama Era Fair Housing Rule It had been threatened from the beginning of the Trump administration, but this week the hammer fell. U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson has announced the formal termination of the Obama Administration's Affir... (read more) Housing News New Home Sales Explode Back to Pre-Pandemic Levels New Home sales have done it again, rising for the third straight month. The U.S. Census Bureau and Department of Housing and Urban Development estimate that newly constructed single-family homes were sold at a seasonally adjusted annual rate of 776,0... (read more) MBS Commentary MBS Live Recap: Why The Range Risk in Treasuries Matters to Mortgages Why The Range Risk in Treasuries Matters to Mortgages We've been following .58% in 10yr yields for months as the best candidate for the bottom of "the range."  Now that mortgage rates have largely settle... (read more) Mortgage Rate Watch Mortgage Rates Struggling to Set New Records Mortgage rates improved almost imperceptibly this morning compared to yesterday afternoon. With that, the average lender was just a hair below the previous all-time lows, but by an amount that's so small as to not really matter to the average mortgag... (read more) Housing News Fannie/Freddie Borrowers Continue to Exit Forbearance Black Knight notes a slight increase in the number of forbearance plans in effect this week even as the number of forborne loans serviced for the GSEs (Fannie Mae and Freddie Mac) dropped sharply. The total number ticked up to 4.119 million, a 2,000-... (read more) Rob Chrisman Regional manager, AE, LO Jobs; Automation, Credit, AI Tools; Up to Speed on Tax Transcripts I don’t know if there is going to be a pro football season or not, with lines of scrimmage & heavy breathing 11 inches apart for hundreds of linemen every week, but here’s The Onion’s take on The Best Cities To Live In For Fans ... (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 5.5 100.10 +0.03 Price / Yield Change MBS UMBS 5.5 100.10 +0.03 UMBS 6.0 101.75 +0.07 GNMA 5.5 100.16 -0.03 GNMA 6.0 101.56 +0.06 Pricing as of: 7/1 6:27AM EST 10 Year US Treasury 4.1968 -0.0278 Price / Yield Change US Treasury 2 YR Treasury 3.707 -0.008 5 YR Treasury 3.769 -0.036 7 YR Treasury 3.957 -0.033 10 YR Treasury 4.195 -0.030 30 YR Treasury 4.741 -0.035 Pricing as of: 7/1 6:27AM EST Latest Video Mortgage rates hit record low—Here's how it may impact banks' profitability July manufacturing PMI 51.3 vs. 52 expected, best level since January New home sales jump 13.8% in June, the highest since 2007 Emons: Negative real yields are signaling more stimulus is coming from the ... Around the Web CNBC Nearly 25% of all loans, credit cards and mortgages are in financial hardship programs CNBC A second round of $1,200 stimulus checks could be coming. Here's how soon you can expect them Calculated Risk Blog July Vehicle Sales Forecast: 16% Year-over-year Decline Calculated Risk Blog Q2 GDP Forecasts: Probably Around 35% Annual Rate Decline CNBC Here's what we know is in the Republican coronavirus relief bill CNBC Mortgage rates just hit another record low, and here's how much lower they can go Calculated Risk Blog A few Comments on June New Home Sales NAHB Eye on Housing Real Rent Index Declined in June CNBC Landlords are encouraged to think creatively as 28 million Americans face eviction CNBC The $600 unemployment boost is likely ending. Here's how you can access cash now Reuters Fed hoped to skirt a second virus wave. Small businesses may sink in it Redfin Home Sellers' Asking Prices up 13% from Last Year as Demand Keeps Soaring Calculated Risk Blog NMHC: "July Apartment Market Conditions Showed Continued Impact of COVID-19 Outbreak"

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