In August, MND published a summary of an analysis of the current state of the adjustable rate mortgage (ARM). CoreLogic's senior professional economist, Archana Pradhan, wrote that while the product's best days are behind it, the near demise is probably only temporary . The ARM share of mortgages, which reached a peak of 45 percent in mid-2005 now fluctuates between 5 and 13 percent, rising and falling with interest rates. Even at that, it is a decent recovery from the low of 2 percent it reached in mid-2009. ARMs are more common among homebuyers with large-balance loans, making up 47 percent of loans over $1 million that were originated in the first quarter of this year. Further Pradhan said, as rates increase, the ARM will undoubtedly rise again. Therefore, and especially given the role those

October 26, 2017 Download our Mobile App: Download our Mobile App: Housing News ARMs Prove They Have Cleaned up Their Act In August, MND published a summary of an analysis of the current state of the adjustable rate mortgage (ARM). CoreLogic's senior professional economist, Archana Pradhan, wrote that while the product's best days are behind it, the near demise is proba... (read more) Housing News Pending Home Sales Stuck at 2-Year Lows We called the August pending home sales report "the gloomiest in some time." The best that can be said about the report released this morning for September is, at least it didn't get any worse. The National Association of Realtors® (NAR) said tha... (read more) Rob Chrisman Lender Appraisal Requirement Changes; New Digital Mortgage Services NAR wrote a white paper detailing the barriers to homeownership and many of the reasons are well-known. Of course, real estate agents wish there were no underwriting or appraisal criteria whatsoever. (The biggest constraints are tighter mortgage lend... (read more) MBS Commentary MBS Live Day Ahead: Bonds Still on Edge Ahead of Draghi Press Conference As today begins, the objective details of the ECB policy move are already out.  With the exception the percent change in the € amount of bond purchases, the ECB has essentially copycatted the Fed's tapering move from 2013.  Especially: ... (read more) Rob Chrisman Upcoming Events; Condo, Jumbo, and Lock Policy News Yesterday’s commentary noted that HUD Secretary Ben Carson “turned some heads by suggesting lower potential penalties for lenders, especially those financing low-income borrowers." The news prompted R.C. Whalen with Whalen Global Advisors... (read more) MBS Commentary MBS Live Recap: Assigning Blame For Today's Market Moves I saw an article from someone who typically does solid work claiming that the massive sell-off in stocks today was due to rising rates.  Fortunately, the article also quoted pundits saying the notion was essentially preposterous until and unle... (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 98.85 -0.08 UMBS 6.0 100.50 -0.06 GNMA 5.5 99.48 -0.09 GNMA 6.0 100.64 -0.07 Pricing as of: 11/14 10:48PM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.352 +0.002 5 YR Treasury 4.338 +0.012 7 YR Treasury 4.402 +0.015 10 YR Treasury 4.458 +0.019 30 YR Treasury 4.609 +0.026 Pricing as of: 11/14 10:48PM EST Latest Video Former Dallas Fed president weighs in on the three Fed chair frontrunners New sanctions on North Korea announced by the Treasury Department House passes budget vote Around the Web CNBC Why volatility could suddenly return to the markets in November CNBC Luxury homes can't keep up with high demand Calculated Risk Blog Goldman: "On Course for a December Hike" CNBC Paul Ryan is confident he can sweeten tax reform to win over GOP holdouts CNN A bond market freakout could derail the rally in stocks Market Watch The Fed: Yellen looks to be out of the race for Fed chief CNBC Bridgewater's Ray Dalio still long on stocks, and sees 'significant' risk in bonds Brookings Institution Hutchins Roundup: Monetary policy and bank profits, offshore activity and domestic employment, and more The Basis Point The most annoying thing about Loan Depot CEO Anthony Hsieh on LinkedIn Calculated Risk Blog Kansas City Fed: Regional Manufacturing Activity "Posts Strong Growth" in October Market Watch MarketWatch First Take: Draghi averts taper tantrum'for nowas ECB begins slow walk to normalization Freddie Mac Mortgage Rates Jump Across the Board Market Watch Bond Report: Treasurys see modest buying as ECB announces dovish taper'

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