Richard Cordray, first Director of the Consumer Financial Protection Bureau (CFPB), will leave the agency at the end of the month. Cordray announced his resignation on Wednesday in a letter to CFPB employees. It has long been rumored that he intends to run for governor of Ohio. Cordray served as acting director for an extended period after the agency was created as Republicans in the Senate announced they would block his confirmation or that of any other nominee to the position. His appointment was only made official after Senate Democrats reversed a long-standing rule allowing a 51-vote majority for confirmation. Bloomberg News says the White House had already begun a search for Cordray's successor (there had been widespread discussion that the President was looking for a way to remove Cordray

November 16, 2017 Download our Mobile App: Download our Mobile App: Housing News CFPB's Cordray Resigns; Agency Future Uncertain Richard Cordray, first Director of the Consumer Financial Protection Bureau (CFPB), will leave the agency at the end of the month. Cordray announced his resignation on Wednesday in a letter to CFPB employees. It has long been rumored that he intends ... (read more) Housing News Builder Confidence Nears Post Crash High Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hit... (read more) Rob Chrisman Another Lender Acquired; Training Events; Thoughts on Mr. Cordray I think the rumors out there about Richard Cordray taking a much deserved break and then, forget that governor stuff, stepping into Dave Stevens' shoes running the MBA are farfetched. Now, forgetting for a moment about comp issues (Cordray is earning... (read more) MBS Commentary MBS Live Day Ahead: More Econ Data, Plus Tax Bill Vote, But Bonds Might Not Care While today will play host to another set of economic reports as well as the House vote on its version of the tax bill, bond markets may continue to let other factors drive trading decisions.   The 8:30am economic data includes Jobless C... (read more) Mortgage Rate Watch Mortgage Rates Slightly Higher Mortgage rates moved higher today, but the changes were minimal for most lenders. Bond markets (which underlie interest rates) have been searching for inspiration recently and largely coming up short. This morning contained several economic reports a... (read more) MBS Commentary MBS Live Recap: Bonds Defy CPI and Retail Sales to With Solid Gains As noted in today's MBS Huddle, an absence of any selling pressure in bond markets was a positive result in itself.  Selling pressure would have been fairly easy to justify given the slightly stronger CPI data as well as moderately stronger Re... (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 98.85 -0.07 Price / Yield Change MBS UMBS 5.5 98.86 -0.07 UMBS 6.0 100.51 -0.05 GNMA 5.5 99.49 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 11:44PM EST 10 Year US Treasury 4.4567 +0.0179 Price / Yield Change US Treasury 2 YR Treasury 4.350 0.000 5 YR Treasury 4.337 +0.011 7 YR Treasury 4.399 +0.012 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.609 +0.026 Pricing as of: 11/14 11:44PM EST Latest Video House tax reform bill passes Road between House and Senate messy for tax bill Cashin: House tax bill vote driving markets Around the Web CNBC Trump interested in naming budget director Mulvaney to consumer protection bureau Calculated Risk Blog Phoenix Real Estate in October: Sales up 4%, Inventory down 10% YoY CNBC Fed's Kaplan: Overshooting employment goal could trigger rate hike Freddie Mac Freddie Mac Announces Reentry into Low-Income Housing Tax Credit Market Reuters House of Representatives approves tax package, shifts fight to Senate CNBC Homeownership doesn't build wealth, study finds Calculated Risk Blog Earlier: Philly Fed Manufacturing Survey showed "Activity Continues to Expand" in November Brookings Institution Hutchins Roundup: Forecast targeting, labor force participation of older Americans, and more Freddie Mac Freddie Mac Prices $1 Billion Multifamily K-Deal Backed by Seasoned Loans Freddie Mac Mortgage Rates Bounce Up CNBC Home builder confidence hits 8-month high in November CNBC US industrial production rose 0.9% in Oct, vs 0.5% increase expected CNBC US weekly jobless claims unexpectedly rise

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