Fannie Mae and Freddie Mac (the GSEs) have provided details for their streamlined refinance programs that were originally announced by the Federal Housing Finance Agency (FHFA) last month. The programs, named "RefiNow" by Fannie Mae and "Refi Possible" by Freddie Mac, will be available starting June 5 for Fannie Mae's borrowers but not until August 30 through Freddie Mac. The programs are designed to encourage eligible low-income borrowers to refinance and lower their interest rates and monthly mortgage payments. In its original announcement FHFA said it expected borrowers who refinanced through the initiative to save between $100 and $250 a month. While there are process differences between the two programs, their basic outlines are the same. The no cash-out loans are available to borrowers

May 10, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman Sales Jobs; Retention, Purchase, Servicing, Reverse Products; Webinars and Training; Interview With Economist Elliot Eisenberg Here at the MBAG event in Northern Florida some of the topics of conversation is the economy, the inability to predict interest rates, families, and lending. It has been reported that 25 to 34-year old’s spend more on mothers than any other age... (read more) Housing News Fannie/Freddie Provide Details on New Refi Options Fannie Mae and Freddie Mac (the GSEs) have provided details for their streamlined refinance programs that were originally announced by the Federal Housing Finance Agency (FHFA) last month. The programs, named "RefiNow" by Fannie Mae and "Refi Possibl... (read more) Housing News Forbearance Exits Soar as More Plans Expire There was a sharp decline in the number of loans in forbearance during the week ended May 4. Black Knight says this has come to be the norm during the early weeks of each month. Overall forbearance volumes dropped by 105,000, a 4.5 percent improvemen... (read more) Mortgage Rates Mortgage Rates Are Low and Stable, But Face Bigger Risks Tomorrow 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% 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 MBS Live Recap: Heavy Issuance Weighs on Bonds UMBS 30YR 5.5 99.93 +0.09 Price / Yield Change MBS UMBS 5.5 99.92 +0.08 UMBS 6.0 101.62 +0.06 GNMA 5.5 100.07 +0.10 GNMA 6.0 101.48 +0.07 Pricing as of: 7/2 11:29PM EST 10 Year US Treasury 4.2602 -0.0196 Price / Yield Change US Treasury 2 YR Treasury 3.766 -0.022 5 YR Treasury 3.846 -0.021 7 YR Treasury 4.036 -0.021 10 YR Treasury 4.263 -0.017 30 YR Treasury 4.791 -0.018 Pricing as of: 7/2 11:29PM EST Latest Video The 9am Bond Report - May 10, 2021 Ventas CEO on post-pandemic real estate rebound How experts are making sense of April's big jobs miss The 3pm Bond Report - May 7, 2021 Around the Web Reuters New U.S. COVID weekly cases fall to lowest since September CNBC Is a $300 unemployment boost holding back jobs? Yes and no Calculated Risk Blog Atlanta Real Estate in April: Sales Up 32% YoY, Inventory Down 65% YoY Calculated Risk Blog NMHC: Rent Payment Tracker Shows Households Paying Rent Decreased Slightly YoY in Early May CNBC Fed's Evans says employment and inflation need to pick up before policy changes Redfin Demand for Second Homes Is More Than Double Pre-Pandemic Levels Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC Treasury yields start the week higher Reuters Fed's Kaplan sees strong job gains ahead, wants taper talk Yahoo News Amazon Borrowing $18.5 Billion It Doesn't Need in New Debt Sale Calculated Risk Blog AAR: April Rail Carloads down 10.1%, Intermodal Up 10.4% Compared to 2019 Reuters Yellen says U.S. debt ceiling could pinch in summer Reuters Biden says jobs report underscores need for his economic policies

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