Refinance

The Fair Housing Act now applies to LGBTQ renters and home buyers. Here’s what changed

Under the Biden Administration, HUD is expanding the Fair Housing Act to protect LGBTQ individuals. Here’s what that means for renters and home buyers.

MBS Day Ahead: As Feared, Bond Sellers Say “Game On”

Posted To: MBS Commentary

As of Monday, bonds had closed at higher yields for 8 straight days. Such streaks beg for a correction. They rarely last longer. The correction became "official" on Wednesday with a decent 10yr Treasury auction helping to confirm. But even on that same day, we warned that the gains were underwhelming at that these sorts of obvious corrections often happen in the sort of 2-day bursts seen on Tue/Wed. Sure enough, yesterday was red day for bonds and risks rapidly increased that bond sellers would be saying "game on" again. In addition to the Wayne's World scene, the chart above shows a zoomed-in section of the prevailing uptrend (yellow parallel lines containing almost all 10yr movement since August 2020). The most basic implication of the "game on" trading is…(read more)

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Forbearance rate drops again, to 5.29%

The total number of mortgages in forbearance declined six basis points to 5.29% in the week ending Feb. 7, according to the latest estimate from the Mortgage Bankers Association.

The post Forbearance rate drops again, to 5.29% appeared first on HousingWire.

Mortgage and refinance rates today, February 16, 2021

Today’s mortgage and refinance rates  Markets were closed yesterday. However, average mortgage rates rose again last Friday. Of course, rises are unwelcome. But these rates remain within their exceptionally low […]

Rates Surge; Time To Adjust Your Mortgage Game Plan

Recovery prospects, renewed focus on stimulus, inflation concerns, a brighter covid outlook, etc… All of these are reasons for an ongoing, gradual trend toward higher rates in 2021 (i.e. general bond market weakness) but none of them really explain why the bond market had its worst day in months today specifically. Still, pundits are pointing to the laundry list of usual suspects to explain the move. In their defense, that’s all anyone can really do on a day like today. At a certain point market momentum becomes its own justification and bond prices snowball to lower and lower levels. When bond prices fall, rates rise–a fact which is abundantly clear in comparing today’s rates to those seen late last week. The average lender is quoting conventional 30yr fixed rates that are roughly 1/8th

Black Knight Says Forbearance Extensions Could Change Landscape

Posted To: MND NewsWire

There was a net decline of 1.6 percent in the number of mortgages in forbearance during the past week, a decrease of approximately 48,000 loans, as more plans that had expired at the end of January were processed out of the system. After the number of forborne loans declined by 45,000 the previous week, Black Knight had estimated there were about 47,000 more January expirations pending either removal or a three-month extension of their forbearance term. The company, in its weekly report on COVID-19 forbearances, said the expirations driving the improvements over the past two weeks are of three-month terms. The maximum 12-month period would have begun to hit at the end of March. However, earlier this week the Federal Housing Finance Agency (FHFA) announced that borrowers in Fannie Mae and Freddie…(read more)

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UpEquity raises $25M in Series A round

UpEquity makes cash offers & charges interest – currently 2.5% – to prospective borrowers, who can make an offer on a house without having to go through a bank to get a mortgage.

The post UpEquity raises $25M in Series A round appeared first on HousingWire.

The selling season that never ends

With pandemic conditions in place for a second spring, lenders and brokers discuss the indicators that will reveal whether the market is shifting away from the traditional selling season to one that runs hot throughout the year.