You can cut the numbers in several ways, but no matter the way it is reported, American households are in relatively good shape when it comes to mortgage debt. While this isn't a number many homeowners think about after they get up from the closing table, CoreLogic points out that it could be very important in the inevitable next recession. Ralph McLaughlin, writing in CoreLogic's Insights blog, says that mortgage debt fell to 64.6 percent of total household debt in the third quarter of this year, the lowest share since the first quarter of 1988 . Looked at another way, mortgage debt as a share of disposable household income it at 65.9 percent, the lowest since the second quarter of 2001. The total mortgage debt grew by a slight 0.1 percent in the third quarter to $10.3 trillion or $131,463

December 20, 2018 Download our Mobile App: Download our Mobile App: Housing News Improved Household Debt Levels Could Insulate Against a Downturn You can cut the numbers in several ways, but no matter the way it is reported, American households are in relatively good shape when it comes to mortgage debt. While this isn't a number many homeowners think about after they get up from the closing t... (read more) Housing News Higher Rates Reinvigorate the ARM Loan Share It is still a tiny share, but Ellie Mae says, in its November Origination Insight Report that the percentage of adjustable rate mortgages (ARMS) originated in November was the highest since the company first tracked the data in 2011, 8.9 percent. Not... (read more) Rob Chrisman Warehouse Predictive Products; Vendor News; Rate Hike Squeezing Lenders and Banks All kinds of things are being found. A woman in Missouri’s tiny house ” was found after being stolen. Then New York Times found more money to pay its crossword puzzle constructors ($500 for a weekday edition). Of the $300,000 scattered fr... (read more) Housing News FHFA Scorecard - More General than Aspirational The 2019 goals for the GSE conservatorship are a good deal more general than those put forward on the yearly Scorecard from the Federal Housing Finance Agency (FHFA) in the early years of the recovery. Many of the goals outlined in 2012 and thereafte... (read more) Housing News Prepayment Activity at Recession Lows, Total Delinquencies Down YoY Mortgage prepayment activity reached a 10-year low in November. Black Knight said, in its "first look" at the months mortgage data, that the character of prepays has been changing from a good indicator of refinance activity to one driven more by home... (read more) MBS Commentary MBS Live Day Ahead: Too Early To Cue The Holiday Trading Vibes? When bonds have been in a relatively strong trend for better or worse heading into the 3rd week of December, we tend to see a consolidation or a continuation (rarely a reversal).  That's good news for bonds, considering a consolidation or cont... (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 98.85 -0.07 UMBS 6.0 100.51 -0.05 GNMA 5.5 99.48 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 11:00PM EST 10 Year US Treasury 4.4552 +0.0164 Price / Yield Change US Treasury 2 YR Treasury 4.352 +0.002 5 YR Treasury 4.338 +0.012 7 YR Treasury 4.399 +0.012 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.608 +0.025 Pricing as of: 11/14 11:00PM EST Latest Video Fed faces credibility questions after rate increase Yale's Robert Shiller: Fed is being reasonable amid rate hikes Leon Cooperman: 'I don't think Powell laid an egg' during Fed press confere... Around the Web Reuters Traders see Fed cutting rates, not raising them, in 2020 Reuters Treasury chief calls market reaction to Fed 'overblown' Calculated Risk Blog California Existing Homes in November: Sales Down 13.4% YoY, Inventory Up 31% NAR - Realtor.com What Housing Slowdown? Home Affordability Hits a 10-Year Low Calculated Risk Blog Phoenix Real Estate in November: Sales down 8% YoY, Active Inventory up slightly YoY Reuters Signs of trouble so far just noise to a Fed that sees growth continuing Reuters Trump balks at government funding bill, raising shutdown fears Bloomberg Corporate Debt Crises Could Come Faster and Harder in 2019 CNBC Kevin O'Leary chides the Fed for claiming data-dependence while still forecasting two 2019 rate hikes Calculated Risk Blog Philly Fed Mfg "Indicators Remained Muted" in December Calculated Risk Blog Weekly Initial Unemployment Claims increased to 214,000 CNBC US Treasury yields tick lower as Fed hikes rates for the fourth time in 2018 CNBC Jeff Gundlach and his deputy think Fed's Powell made a mistake by tightening on 'autopilot'

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