Daily Newsletter: Fannie & Freddie Updates; Automation/Pricing/LOS Products

Numbers are interesting things. “1” is the number of dogs, that I know of, rescued by a drone dragging a sausage and leading the dog to safety out of a mud flat. “38.2” was the United States’ median age in 2018. (Yes, half above, half below… and it is up from 37.2 in 2010.) “$9 trillion” is the Federal Reserve’s bond portfolio which Federal Reserve officials are set to discuss reducing, and how fast they will shrink it when the time comes, which would serve as a tool for tightening monetary policy as the Fed tries to curb high inflation. “2022” is the year that Fannie Mae anticipates we will establish a new "normal" for the housing market. The top-level view is that inflation will remain elevated for the year, and home price appreciation will slow to the high single digits. Economic growth will also return to longer term trends. Expect GDP to fall to 3.1%, home price appreciation will grow 7.6%, and inflation will start at 7% before slowing to 4%. Lender and broker products & services We've come a very long way since the invention of the first cell phone — a behemoth that weighed about 2.5 pounds and stood nine inches tall. But thanks to swift technological advancements over the past 50 years, today there’s no better way to reach your consumers than in the palm of their hands. That’s why FormFree is making it easier than ever for borrowers to permission verification of assets, income, employment (VOAIE) and rental payment history via smartphone using the Passport mobile app. When lenders text borrowers a link prompting them to download Passport, they can knock out VOIE and verification of rental payment history in a matter of minutes. Learn how you can help aspiring homeowners reach their goals without the troublesome paper chase by scheduling time with Gregg Palmer virtually or in person at MBA IMB.

January 25, 2022 Housing News Fannie & Freddie Updates; Automation/Pricing/LOS Products Numbers are interesting things. “1” is the number of dogs, that I know of, rescued by a drone dragging a sausage and leading the dog to safety out of a mud flat. “38.2” was the United States’ median age in 2018. (Yes, half above, half below… and it i... (read more) Housing News Prices in 19 of 20 Case-Shiller Cities at All-Time Highs Annual increases in each of the three S&P CoreLogic Case-Shiller indices slowed fractionally from October to November. However, the rate of appreciation in the House Price Index (HPI) produced by the Federal Housing Finance Agency (FHFA) increase... (read more) Rob Chrisman Underwriting, POS, Subservicing, Lead Gen Products; Webinars and Events to Wrap up January Anyone who’s seen 1968’s “2001: A Space Odyssey” remembers the talking computer HAL (whose name was cleverly derived from subtracting one letter from IBM). We need more acronyms, right?! Here’s one I hadn’t heard: BNPL. The buy now, pay later industr... (read more) Mortgage Rates Mortgage Rates Remain Exceptionally Stubborn Ahead of Fed It's a tale as old as time for those who closely follow the day to day gyrations in the mortgage market. Bond volatility forces lenders to raise rates fairly quickly. Lenders then wait for market gains AND stability before adjusting rates back toward previous levels. Even then, rates remain slightly higher than the bond market says they s... (read more) 30 Yr. Fixed Rate 3.66% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 3.66% -0.01 0.40 15 Yr. Fixed 2.92% -0.01 0.40 30 Yr. FHA 3.33% 0.00 0.00 30 Yr. Jumbo 3.31% -0.01 0.00 5/1 ARM 3.60% -0.01 0.50 Updates Daily - Last Update: 1/25 15 Yr. Fixed Rate 2.92% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 3.56% +0.11 0.70 15 Yr. Fixed 2.79% +0.17 0.60 5/1 Yr. ARM 2.60% +0.03 0.30 Updates Weekly - Last Update: 1/20 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 3.64% +0.12 0.45 15 Yr. Fixed 2.95% +0.22 0.43 30 Yr. Jumbo 3.54% +0.12 0.47 Updates Weekly - Last Update: 1/19 MBS / Treasuries MBS Live Recap: Intraday Volatility But Mostly For Treasuries; Fed On Deck Intraday Volatility But Mostly For Treasuries; Fed On Deck Bonds began the day trading right in line with yesterday afternoon's higher yields (or lower prices). The first two hours saw a decent rally with trading levels nearly returning to yesterday's stronger range. A bounce in stocks just after 10am mad... (read more) UMBS 30YR 3.0 102.30 +0.08 Price / Yield Change MBS UMBS 3.0 102.30 +0.08 UMBS 3.5 104.44 +0.02 GNMA 3.0 102.23 +0.09 GNMA 3.5 103.44 0.00 Pricing as of: 1/25 5:21PM EST 10 Year US Treasury 1.7725 -0.0034 Price / Yield Change US Treasury 2 YR Treasury 1.021 +0.050 5 YR Treasury 1.556 +0.005 7 YR Treasury 1.721 -0.001 10 YR Treasury 1.773 -0.003 30 YR Treasury 2.115 -0.002 Pricing as of: 1/25 5:21PM EST Latest Video Fed isn't looking to bail out the stock market, but the wealth effect has d... The 2pm Bond Report - January 25, 2022 The Fed has to wean the markets off this certainty of forward guidance, say... Treasury auctions $55B in 5-year notes Around the Web Reuters Wall Street resumes downward trend, oil up as Fed and Ukraine dominate Calculated Risk Blog Comments on Case-Shiller and FHFA House Price Increases CNBC CNBC Fed Survey forecasts more aggressive Fed, but better economic growth CNBC Home prices surged in November, but at a slower rate than in October, S&P Case-Shiller says CNBC The stock market slide is unlikely to budge the Fed from tightening Reuters Wall Street closes higher in late market reversal Calculated Risk Blog Housing Inventory January 24th Update: Inventory Down 2.4% Week-over-week; New Record Low Calculated Risk Blog Six High Frequency Indicators for the Economy CNBC 'We are in a very precarious position.' How bond ladders can help fight rising interest rates Calculated Risk Blog Final Look at Local Housing Markets in December CFPB Consumer Financial Protection Bureau to Examine Colleges' In-House Lending Practices NY Fed Household Survey Shows Sustained Rise in Reported andExpected Spending Growth Calculated Risk Blog FOMC Preview: Final Asset Purchase Announcement Expected; Hints at "Liftoff" in March

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