Per loan profits of Independent mortgage banks and mortgage subsidiaries of chartered banks fell dramatically in the fourth quarter of 2017. The Mortgage Bankers Association (MBA) reported a net gain of $237 on each loan they originated down from $929 per loan in the third quarter of 2017. As bad as the quarter was, profitability was still higher than in the first quarter of 2017 when it dropped to $224. " Production profits plummeted in the fourth quarter of 2017 compared to the third quarter of 2017," said Marina Walsh, MBA's Vice President of Industry Analysis. "Purchase volume was lower in the fourth quarter, in part due to normal seasonality. At the same time, there was no substantial pickup in refinancings. While cash-out refinancings grew incrementally to 16 percent of overall production

March 23, 2018 Download our Mobile App: Download our Mobile App: Housing News Mortgage Profits Plummeted in Fourth Quarter Per loan profits of Independent mortgage banks and mortgage subsidiaries of chartered banks fell dramatically in the fourth quarter of 2017. The Mortgage Bankers Association (MBA) reported a net gain of $237 on each loan they originated down from $92... (read more) Housing News New Home Sales Still Falling, Prices and Inventory Up There was much better news in February than in January regarding new home sales. Those sales had been reported down by 7.8 percent on top of a 9.3 percent decline in December. Sales pulled out of that nosedive last month, eking out an 0.6 percent inc... (read more) Housing News Not Everyone Benefits from Home Price Gains Mortgage rates have increased 49 basis points since the first of the year, with the 30-year fixed rate mortgage (FRM) standing at 4.44 percent on March 15 according to Freddie Mac's Primary Mortgage Market Survey. Given the robust economic fundamenta... (read more) Rob Chrisman Digital Lender Products; Update on Vendors; Rates Edge Higher The Census Bureau defines millennials as those born between 1982 and 2000, which means this year their age ranges from 18 to 36. Many will argue that a 36-year old doesn’t have a lot in common with a current high school senior, but the Bureau h... (read more) MBS Commentary MBS Live Day Ahead: Without a Rally, Bonds Build a Stronger Case For Resistance The past 2 days represented a nice little run for bonds, but unfortunately it may end up looking like one of those fool's errands that was destined to hit an unmovable brick wall.  Actually, in this case, it would be more like a brick flo... (read more) MBS Commentary MBS Live Recap: Stocks and Bonds Riding Same Train For Mostly Different Reasons Today was simple and straightforward in one sense.  Stocks and bond yields (rates) were both moving lower, and that's something the two have been known to do when investors are moving away from "risk."  But the underlying reasons for the ... (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 98.86 -0.07 UMBS 6.0 100.51 -0.05 GNMA 5.5 99.49 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/14 11:39PM EST 10 Year US Treasury 4.4567 +0.0179 Price / Yield Change US Treasury 2 YR Treasury 4.351 +0.001 5 YR Treasury 4.337 +0.011 7 YR Treasury 4.399 +0.012 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.609 +0.026 Pricing as of: 11/14 11:39PM EST Latest Video Stocks fall as trade war fears heat up The Fed is slow to hike, but rates are still heading higher, says strategis... China's new threat to stop buying US Treasurys Around the Web Reuters Wall Street nosedives on trade-war worries Calculated Risk Blog Phoenix Real Estate in February: Sales up 8%, Inventory down 12% YoY NY Times Budget Deal in Congress Includes Help for Affordable Housing Calculated Risk Blog BLS: Unemployment Rates Lower in 7 states in February; California, Maine, Mississippi and Wisconsin at New Series Lows Calculated Risk Blog A few Comments on February New Home Sales CNBC The Fed raised interest ratestake these 4 steps to protect your money Freddie Mac Freddie Mac Prices $568 Million K-Deal, K-W04, Supporting Affordable Multifamily Housing for Low- and Moderate-Income Working Families Reuters Trump threatens to veto spending bill, raising government shutdown risk CNBC Surging demand for aircraft lifts US durable goods orders 3.1% in February CNBC Fed's Bostic: Fed 'at or near' goals, further rate hikes needed Reuters China urges U.S. away from 'brink' as Trump picks trade weapons Reuters Stocks tumble to worst day in six weeks after Trump tariff action NPR California Residents Bracing For More Mudslides

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