While home prices continue to rise and homeowner equity to increase, CoreLogic reports that there are still 2.5 million mortgages in negative equity . The company's fourth quarter 2017 equity report states that homeowners increased their house-related wealth by an average of $15,000 from Q4 2016 through the end of 2017. The aggregate of these gains nationally was $908 billion, a year-over-year growth of 12.2 percent. Frank Martell, CoreLogic president and CEO said, "There are wide disparities in home-equity gains by geographic areas, with higher-priced, capacity constrained markets along the East and West Coasts registering the largest increases. The average homeowner in California and Washington had a wealth gain of about $40,000, reflecting the high price of homes in California and the rapid

March 16, 2018 Download our Mobile App: Download our Mobile App: Housing News Both Coasts Lead in Household Wealth Gains While home prices continue to rise and homeowner equity to increase, CoreLogic reports that there are still 2.5 million mortgages in negative equity . The company's fourth quarter 2017 equity report states that homeowners increased their house-relate... (read more) Housing News Lender Sentiment Points to Declining Demand, Lower Profits Mortgage lenders continue to expect disappointing profit margins . For the sixth consecutive quarter the net responses to a question about those margins in Fannie Mae's Mortgage Lender Sentiment Survey were in the negative. In the first quarter surve... (read more) Housing News Democrats Pitch in to Roll Back Dodd-Frank The Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) passed the Senate Wednesday on a bipartisan basis. Sixteen 16 Democrats and one independent joined 50 Republicans in voting "yes." The bill rolls back some of the provisions... (read more) MBS Commentary MBS Live Day Ahead: So Much For Yesterday's Pleasant Surprises I was pretty happy to have made it through yesterday without seeing or writing any "Ides of March" headlines.  I can't ever quite remember what the word "banal" means, but I'm pretty sure that it covers "Ides of March" headlines as well as ... (read more) Rob Chrisman Management Changes; New Securitization; The Economics Moving Bond Markets Lenders charge an interest rate commensurate with the risk, and potential for not being paid back. But disasters and taxes can complicate things. Mortgage News Daily points out that, “In 2007…Congress put a temporary policy in place to e... (read more) Housing News Housing Starts and Permits Roll Back January Gains The two principal measures of residential construction activity had been expected to decline a bit in February after a strong performance to kick off the new year. Instead, the figures reported by the U.S. Census Bureau and the Department of Housing ... (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 -0.08 Price / Yield Change MBS UMBS 5.5 98.84 -0.08 UMBS 6.0 100.50 -0.06 GNMA 5.5 99.47 -0.09 GNMA 6.0 100.64 -0.07 Pricing as of: 11/15 12:00AM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.350 0.000 5 YR Treasury 4.340 +0.014 7 YR Treasury 4.403 +0.016 10 YR Treasury 4.460 +0.021 30 YR Treasury 4.613 +0.030 Pricing as of: 11/15 12:00AM EST Latest Video Consumer sentiment index at 102.0 Housing stocks under pressure February housing starts disappoint, down 7.0% vs. 5.7% est. Around the Web Freddie Mac Freddie Mac March 2018 Insight Calculated Risk Blog Comments on February Housing Starts consumerfinancemonitor.com S.2155 Does Not Facilitate Discriminatory Lending NAHB Eye on Housing Multifamily Decline In February Reuters Under scrutiny, New York Fed sets short list for Dudley successor Calculated Risk Blog "CBO's Projection of Labor Force Participation Rates" Freddie Mac Freddie Mac Announces Pricing of $497 Million Multifamily Small Balance Loan Securitization CNBC Consumer sentiment pops in March to highest level since 2004 Calculated Risk Blog BLS: Job Openings Increased in January Calculated Risk Blog Industrial Production Increased 1.1% in February Reuters U.S. housing starts fall on weak multi-family segment CNBC Cohan: Why Bear Stearns could absolutely happen again on Wall Street CNBC Fragmented banking standards could be the seeds' of the next financial crisis, expert warns

© 2024  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.