Federal Housing Finance Agency Director Melvin L. Watt focused much of his speech to the National Association of Real Estate Brokers (NAREB) on its five-year goal of creating two million new Black homeowners. The numbers don't lie, Watt said. In 2004 African Americans had a homeownership rate of almost 50 percent. This year the rate is down to 42 percent, a lmost back to 1994 levels . "Because equity in homes has always represented a major part of African American assets, the impact of the economic and foreclosure crisis on African American wealth has been substantial." There are the well-known historical reasons for low homeownership rates among African American households, he said, including disproportionate unemployment and under-employment, low and stagnant wages, non-existent and depleted

August 2, 2017 Download our Mobile App: Download our Mobile App: Housing News FHFA Director on Racial Divide in Homeownership and Reality of G-Fees Federal Housing Finance Agency Director Melvin L. Watt focused much of his speech to the National Association of Real Estate Brokers (NAREB) on its five-year goal of creating two million new Black homeowners. The numbers don't lie, Watt said. In 2004... (read more) Housing News MBA Reform Proposal Will Have Little Impact on Consumer Costs In April, the Mortgage Bankers Association (MBA) published its proposal for reform of the housing finance system. This week Mike Fratantoni, MBA's Chief Economist and Senior Vice President of Research and Economics, weighed in on the potential implic... (read more) Housing News NAHB Urges Passage of Bi-Partisan Affordable Housing Bill The National Association of Home Builders (NAHB) has strongly endorsed passage of a bill, recently introduced into the U.S. Senate which the trade group says would promote the construction of sorely needed rental apartments and help alleviate the nat... (read more) MBS Commentary MBS Live Day Ahead: Bond Consolidation in Full Effect. The Next Break is Important With this morning's ADP data and Treasury Refunding Announcement (lays out the slate of auction sizes for the upcoming fiscal quarter ending on October 30th) failing to motivate any sharp movement in bond markets this morning, we begin the day w... (read more) Rob Chrisman Fiserv Buys PCLender; Projections, Oil, and Inflation Recently an older gal pal exclaimed, “It’s all fun and games until your metabolism changes.” Are builders changing their business models to assist home buyers? Here's why new construction at lower price points can make the biggest d... (read more) Mortgage Rate Watch Mortgage Rates Steady at Recent Lows Mortgage rates held steady today, keeping them in line with the best levels in just over a month. That means the best-qualified borrowers putting more than 20% down are seeing conventional 30yr fixed rates of roughly 4%, depending on the lender. Some... (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 98.78 -0.15 Price / Yield Change MBS UMBS 5.5 98.68 -0.25 UMBS 6.0 100.39 -0.17 GNMA 5.5 99.37 -0.19 GNMA 6.0 100.73 +0.02 Pricing as of: 11/15 10:53AM EST 10 Year US Treasury 4.4685 +0.0297 Price / Yield Change US Treasury 2 YR Treasury 4.365 +0.015 5 YR Treasury 4.369 +0.043 7 YR Treasury 4.434 +0.047 10 YR Treasury 4.489 +0.050 30 YR Treasury 4.640 +0.057 Pricing as of: 11/15 10:53AM EST Latest Video Housing demand strengthens through summer, but here's why some buyers are g... Third quarter GDP tracking at 2.5% Looks like 'solid economy' but low inflation remains a 'mystery': NYU's Law... Around the Web Calculated Risk Blog Selected Operating Statistics, Large Publicly-Traded Home Builders HUD HUD Makes $38 Million Available to Fight Housing Discrimination blog.stewart.com Housing Sales Forecast July 2017 Fannie-Freddie-MBA Calculated Risk Blog A few comments on the Seasonal Pattern for House Prices Market Watch Fed should remain on 'pause' for now, Bullard says CNBC Housing demand strengthens through summer, but here's why some buyers are giving up Market Watch The Fed: Fed should keep to its slow tightening pace, even with tepid inflation, Mester says CNBC Housing demand strengthens through summer, but here's why some buyers are giving up CNBC Goldman CEO Blankfein: Economic conditions 'are really not as bad as politics would suggest' Bloomberg Treasury to Maintain Borrowing at $62 Billion for Sixth Quarter builderonline.com Some Buyers are Bidding on Homes Without Setting Foot in Them CNBC 'High-gear' US 'job machine' adds 178,000 jobs in July: ADP Reuters Goldman CFO: market for bond trading has not improved since second quarter

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