As was being widely rumored yesterday, the newly installed Trump Administration has indefinitely suspended a scheduled reduction in the annual premium for Federal Housing Administration (FHA) insurance. A 25-basis point reduction in that premium was announced by then Housing and Urban Development (HUD) Secretary Julian Castro on January 9, scheduled to go into effect on January 27. Mortgagee Letter 2017-07 was issued about an hour after Donald Trump took the oath of office as President, counteracting the earlier Mortgagee Letter 2017-01. The new letter says "FHA will issue a subsequent Mortgagee Letter at a later date should this policy change." The Mortgage Bankers Association (MBA) reacted immediately to the shift. David H. Stevens, President and CEO, issued the following statement on behalf

January 20, 2017 Download our Mobile App: Download our Mobile App: Housing News FHA Premium Cut Officially Reversed; Mortgagee Letter Already Out As was being widely rumored yesterday, the newly installed Trump Administration has indefinitely suspended a scheduled reduction in the annual premium for Federal Housing Administration (FHA) insurance. A 25-basis point reduction in that premium was ... (read more) Housing News Whether Expansion or Recession in 2017, Housing will Survive How will the economic philosophy that was altered by the last election actually evolve into policy? The is the question raised by Fannie Mae's Economic and Strategic Research Group, headed by Doug Duncan, Senior Vice President and Chief Economist say... (read more) Housing News Appraisal Fails Still Causing Issues Despite Improving Markets While it trails well behind credit history and debt-to-income levels, collateral problems are consistently the third most frequent cause of loan denials. CoreLogic said Home Mortgage Disclosure Act (HMDA) data for 2015 show collateral issuers were th... (read more) Housing News Rising Rates Reflected in Increased Purchase Share Ellie Mae said its Origination Insight Report for December reflects the first effects of rising interest rates . Loans for refinancing slipped from 47 percent in November to 46 percent as the reciprocal number, purchase loans, rose 1 point to 54 perc... (read more) Rob Chrisman Vendor News and New Products; Agency News and Updates--Stocks Slammed by Mnuchin How many people find fault seemingly every day with the FHA, Fannie Mae, and Freddie Mac programs or structure? Plenty – see below – they can’t seem to catch a break. What I really meant to ask is how many people live in the United ... (read more) MBS Commentary MBS Live Day Ahead: Rates Don't Live in a One Story Building 10yr yields hit 2.5112 overnight.  That's close enough to the important 2.52% pivot point to suggest an expansion of what we consider the current range to be.  After all, before the beginning of 2017, 2.52% was actually the most important ... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.84 -0.09 Price / Yield Change MBS UMBS 5.5 98.84 -0.09 UMBS 6.0 100.50 -0.07 GNMA 5.5 99.47 -0.10 GNMA 6.0 100.64 -0.07 Pricing as of: 11/14 10:40PM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.353 +0.003 5 YR Treasury 4.341 +0.015 7 YR Treasury 4.405 +0.017 10 YR Treasury 4.461 +0.022 30 YR Treasury 4.612 +0.029 Pricing as of: 11/14 10:40PM EST Latest Video Bill Gross skeptical of growth under Trump Trump gives first speech as President of the United States Trump's tax reform plan: Pros Around the Web Fannie Mae 2017 Outlook: Will Policy Changes Extend the Expansion? ... Market Watch Fed likely to start shrinking balance sheet this year: Harker Calculated Risk Blog Lawler: The Household Conundrum, Part I: The CPS/ASEC Data Redfin 9 Home Improvement Projects to Make Your Home More Desirable in 2017 Bloomberg Yellen: I Believe in the Independence of Monetary Policy - Bloomberg CNBC Bond investors eye Trump inauguration Bloomberg Mnuchin Dashes Investors' Hopes of Quick Fannie-Freddie Windfall HUD New Mortgagee Letter Suspends FHA MIP Cut Bloomberg Trump Administration Overturns Obama's FHA Mortgage-Fee Cut Market Watch The Fed: Yellen not worried about surge of inflation CNBC China is working hard to support the yuan it sold US bonds for 6 months Market Watch Fannie, Freddie tumble as Mnuchin backs away from release plan CNBC How a one-two, Trump-Yellen punch may move interest rates

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