The reported net profit per loan reported to the Mortgage Bankers Association (MBA) by independent mortgage banks and mortgage subsidiaries of chartered banks cratered during the fourth quarter of 2016. The MBA said today the average gain on each loan originated during the fourth quarter period fell by two-thirds compared to the third quarter, down from 1,773 to $575. Production volume also fell both on a dollar and a loan count basis. The MBA's Quarterly Mortgage Bankers Performance Report says the average pre-tax production profit was 24 basis points (bps) in the fourth quarter compared to 74 bps in the third. Since the inception of the Performance Report in the fourth quarter of 2008, net production income has averaged 53 bps. Average production volume was $690 million per company in the

March 21, 2017 Download our Mobile App: Download our Mobile App: Housing News Profits Plummet as Rising Rates Constrict Loan Volume The reported net profit per loan reported to the Mortgage Bankers Association (MBA) by independent mortgage banks and mortgage subsidiaries of chartered banks cratered during the fourth quarter of 2016. The MBA said today the average gain on each loa... (read more) Housing News CoreLogic Notes Quality of Recent Loan Originations, Warns of Risks Ahead In terms of credit risk, the loans originated in the fourth quarter of last year are among the highest quality mortgages originated since 2001 according to CoreLogic. The company's Housing Credit Index (HCI) compares those loans with those originated... (read more) Rob Chrisman More on Zillow; Primer on a Flat Yield Curve: Any Change to Rating Agency Model? Who can you trust? Digital Journal reports new malware targets Google Chrome users with a pop up that indicates a new font needs to be installed for websites to load properly. Those who click on it download the malware. We can’t even trust the ... (read more) MBS Commentary MBS Live Day Ahead: Lightest Day of The Week For Data and Fed Speakers Bond markets continue making a case for re-entry into the core of the range that has been intact since December 2016.  The December Fed meeting helped set the highs of that range, and the March Fed meeting has helped to reinforce them (roughly ... (read more) MBS Commentary MBS Live Recap: Uneventful Green Days Are Starting to Add Up Much like Friday, today was uneventful and moderately positive for bond markets.  At some point, we have to consider the combined effects of these sorts of days.  Individually, they're " nice ," but not too terribly special.  When they... (read more) Mortgage Rate Watch Mortgage Rates Down to March Lows Mortgage rates continued lower today as political uncertainty sparked the biggest day of stock market losses since the election. In general, short term pain for stocks benefits bonds. When demand for bonds increases, rates move lower. Today was no ex... (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 98.86 -0.14 UMBS 6.0 100.49 -0.14 GNMA 5.5 99.53 -0.14 GNMA 6.0 100.72 -0.10 Pricing as of: 11/14 1:33AM 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 4.408 +0.036 10 YR Treasury 4.472 +0.008 30 YR Treasury 4.649 +0.015 Pricing as of: 11/14 1:33AM EST Latest Video Closing Bell Exchange: Worst day of the year for stocks DC drama weighs on stocks Pimco dials back global macro risks Around the Web Reuters Markets fret as Trump agenda shows signs of cracks CNBC Mnuchin pal in line to head key banking agency; Fed post also could be filled: Sources The Atlantic Can the Country Survive Without a Strong Middle Class? Market Watch S&P 500's selloff on track for biggest 4-day decline since before the election Market Watch Financial ETFs tumble as stock market pivots lower, led by Goldman, financials Bloomberg Lennar Earnings Beat Estimates on Renewed Economic Optimism NAHB Eye on Housing Rental Apartment Absorption Flat While Condominium Absorption Jumps CNBC It's do-or-die time on health care for Trump and GOP CNBC How this real estate mogul picks the perfect location to buy a home builderonline.com Russian Interest in New York Real Estate Up Big in 2016 CoreLogic CoreLogic US Housing Credit Index Shows A Decrease In Mortgage Credit Risk Bloomberg Fed's Dudley Says Wells Fargo Shows Bank Culture Needs Improving - Bloomberg CNBC Why bonds are still a good bet in a rising rate environment

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