Ellie Mae has picked up indications of what it says it will be watching as a possible trend in the data from its November Origination Insight Report. The company notes that the share of refinancing originations during the month remained steady at 39 percent even with a slight uptick in interest rates. However, the FICO scores of borrowers who were refinancing declined slightly across all loan types. For all loans, the FICO scores declined from an average of 724 in October to 722, but the lender breakdown shows the change was due almost entirely to refinances . For example, FICO scores were unchanged for FHA purchase loans, but declined from 645 to 640 for refis. Conventional purchase loans saw FICO scores decline by 1 point but refis by 2. VA's purchase loan average rose 1 point but its refi

December 21, 2017 Download our Mobile App: Download our Mobile App: Housing News Credit Standards Loosen, Refi Boom to Blame Ellie Mae has picked up indications of what it says it will be watching as a possible trend in the data from its November Origination Insight Report. The company notes that the share of refinancing originations during the month remained steady at 39 ... (read more) Housing News Fannie/Freddie Home Prices Pick Up Speed The Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) for September slowed to its lowest level since January , 6.3 percent and the month-over-month increase of 0.3 percent was also a recent low. The October HPI, released on Thursday, ... (read more) Housing News Fannie and Freddie Now Allowed to Keep Some Profits Agreement has been reached between the Federal Housing Finance Agency (FHFA) and the Department of the Treasury to reinstate a $3 billion capital reserve amount under the Senior Preferred Stock Purchase Agreements (SPSA) for Fannie Mae and Freddie Ma... (read more) Rob Chrisman Tax Update, PACE Changes, 4506-T News; Tax Bill Hitting Rates Welcome to the Winter Solstice (yes, more sunlight ahead of us in the Northern Hemisphere!). Things are slowing down ahead of Christmas, shipping and post-closing departments are having potlucks, and I received this note from Joe Wilson, the Chief Ma... (read more) MBS Commentary MBS Live Day Ahead: Striking Similarities in Trading Patterns Show Year-End Exodus As we discussed yesterday, the flattening of the yield curve has been a dominant trading theme in 2017.  It's also been a "crowded trade" for bond market participants, much in the same way that buying bitcoin was a crowded trade on Dec 5th-7th o... (read more) Mortgage Rate Watch Worst Week Since June May be Calming Down For Mortgage Rates Mortgage rates edged just slightly higher again today, capping the sharpest 3-day increase since late June and leaving the average lender more than an eighth of a percentage point higher than they were on Monday. While an eighth of a point may have b... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.01% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.01% -0.01 0.00 15 Yr. Fixed 6.37% -0.02 0.00 30 Yr. FHA 6.32% -0.08 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.95% -0.03 0.00 30 Yr. VA 6.34% -0.09 0.00 Updates Daily - Last Update: 11/13 15 Yr. Fixed Rate 6.37% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.79% +0.07 0.00 15 Yr. Fixed 6.00% +0.01 0.00 Updates Weekly - Last Update: 11/7 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 -0.16 Price / Yield Change MBS UMBS 5.5 98.87 -0.13 UMBS 6.0 100.49 -0.13 GNMA 5.5 99.53 -0.13 GNMA 6.0 100.72 -0.10 Pricing as of: 11/14 1:30AM EST 10 Year US Treasury 4.4753 +0.0113 Price / Yield Change US Treasury 2 YR Treasury 4.315 +0.042 5 YR Treasury 4.334 +0.034 7 YR Treasury 4.409 +0.037 10 YR Treasury 4.473 +0.009 30 YR Treasury 4.650 +0.016 Pricing as of: 11/14 1:30AM EST Latest Video Tax bill's impact on 2018 economy Initial jobless claims up 20K to 245,000, Q3 GDP 3.2% vs. 3.3% est. House readies vote on government funding as shutdown looms Around the Web CNBC House passes spending bill to avert a government shutdown Freddie Mac Freddie Mac Issues Monthly Volume Summary for November 2017 Bloomberg DoubleLine to Make Its Own Brand of Mortgage-Backed Securities CNBC History shows bond yields could reverse next week after sudden spike Bloomberg Tax Plan Has Majority of Americans 'Concerned' About Homebuying Calculated Risk Blog Black Knight: National Mortgage Delinquency Rate increased in November due to Hurricanes Calculated Risk Blog Earlier: Philly Fed Manufacturing Survey showed "Solid Growth" in December Brookings Institution Hutchins Roundup: Earned Income Tax Credit, retirement and death, and more CNBC Leading economic indicators rise 0.4 percent, meet expectations Freddie Mac Mortgage Rates Up Slightly Reuters U.S. House unveils new stop-gap funding bill to avert shutdown Calculated Risk Blog Q3 GDP Revised down to 3.2% Annual Rate NAR - Realtor.com The Hottest Real Estate Markets of 2017: Who Gained Big, Who Fell Hard

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