Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka "g-fee") for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I'd highly recommend reading my initial coverage if you haven't already: Here's the initial reaction from Wednesday night Here's a more detailed list of bullet points from the following morning For those who don't like reading or who already know everything I'm about to say, feel free to skip to the next section ("what does this all mean") below. G-fees are a longstanding ingredient in the mortgage market equation. They are collected by Fannie Mae and Freddie Mac (collectively the "agencies" or GSEs) in order to guarantee timely repayment to mortgage investors. In other words, if borrowers don't pay, the

August 26, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch That Big Bad Fee on Refinances Has Been Delayed! Here's What It Means Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka "g-fee") for virtually all refinances. To say this has been a hot topic for the mortgage market would be an understatement. I'd highly recommend reading my initial coverage if you ha... (read more) MBS Commentary MBS Live Recap: LLPA Impact vs Powell Speech. Time to Lock? LLPA Impact vs Powell Speech. Time to Lock? Much has been made (by news media... not bond market participants) of Powell's Jackson Hole (virtual) speech on Thursday.  After all, a rethink of the Fed's "... (read more) Housing News Purchase Applications Decline Even as Rates Move Lower Mortgage applications volume fell for the second time during the week ended August 21, declining 6.5 percent from the previous week according to the Mortgage Bankers Association's (MBA's) seasonally adjusted Market Composite Index. The volume was dow... (read more) Housing News New Home Sales Explode in the Midwest, Boosting National Numbers New home sales were expected to dip slightly in July after posting 13.8 percent growth in June and setting a 13-year high. Instead, the June sales were revised upward, from 776,000 to 791,000, bringing that month's increase to 15.1 percent and July s... (read more) Housing News Home Price Gains Shrug off Covid Concerns Both the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) and the several S&P CoreLogic Case-Shiller indices showed price gains across the U.S. in June. Case-Shiller's numbers showed more moderation in the rate of increase than... (read more) Rob Chrisman AI, Forbearance, Comp Tools; Training and Events: Capital Markets 2019: Stay away from negative people. 2020: Stay away from positive people. Like it or not, depending on how “old school” you are, companies in recent years have wrestled with how to relate to younger employees, positive or negative. Can ... (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 5.5 100.06 -0.01 Price / Yield Change MBS UMBS 5.5 100.05 -0.01 UMBS 6.0 101.70 +0.02 GNMA 5.5 100.12 -0.07 GNMA 6.0 101.52 +0.03 Pricing as of: 7/1 1:42AM EST 10 Year US Treasury 4.2095 -0.0151 Price / Yield Change US Treasury 2 YR Treasury 3.717 +0.002 5 YR Treasury 3.784 -0.020 7 YR Treasury 3.973 -0.017 10 YR Treasury 4.210 -0.015 30 YR Treasury 4.754 -0.022 Pricing as of: 7/1 1:42AM EST Latest Video Fed Chair Powell may say interest rates won't go up for five years: Investo... How to play the 10-year ahead of Fed chair Powell's speech U.S. durable goods orders rose jumped 11.2% in July, vs 5% increase expecte... The migration to the suburbs continues Around the Web CNBC The Fed is expected to use a new pandemic-era tool to fight a long-running battle against low inflation CNBC Dow vs S&P 500: Traders face off after Dow's most significant shake-up in years Calculated Risk Blog New Home Prices NAHB Eye on Housing Multifamily Family Built-for-Rent Share Reaches New High CNBC Every American home is getting a flood risk score and many are at higher risk than previously known Reuters Framework review complete, Fed's Powell starts hard sell for higher inflation FHFA FHFA Further Extends Buying Loans in Forbearance & COVID-Related Loan Processing Flexibilities CNBC As U.S. makes progress on the virus front, Peter Boockvar predicts inflation will become a serious headwind - with or without Fed involvement Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in June CNBC Can you be evicted during the pandemic? It depends on your ZIP code Calculated Risk Blog A few Comments on July New Home Sales CNBC 'Hundreds of thousands' of people looking for suburban homes Sternlicht on exodus from cities Redfin Sales of New-Construction Homes Rebound to Pre-Coronavirus Levels, Rising 10% in July

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