Freddie Mac

Mortgage rates remained relatively flat this week, as yields for the benchmark 10-year Treasury spiked at the start of the period before dropping, according to Freddie Mac.

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.

The pandemic drives home the point that without those funds being siphoned off, the recent fee hikes would not be necessary.

For the first time since June 7, the number of loans going into coronavirus-related forbearance didn't decrease from the week before, according to the Mortgage Bankers Association.

Arch's second CRT transaction this year to obtain indemnity reinsurance for mortgage-insurance premiums comes at a time it is also experiencing rising 60-plus-day delinquencies on its outstanding securitized pools.

Also: NMN analyzes political donations from the industry, foreclosure and eviction ban extended to year's end.

Refinancing has been one of the bright spots in a difficult year for lending, and the industry has concerns that a fee to be imposed by Fannie Mae and Freddie Mac could slow down the business.

As the end of the first six-month forbearance period arrives, the impact of the new cap is coming into focus.

Mortgage rates decreased by 8 basis points this week, remaining near record lows, while a strong purchase market should continue into the fall, according to Freddie Mac.

Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis.

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic.

The number of loans going into coronavirus-related forbearance decreased for the tenth straight week, but to a lesser degree than in previous weeks, according to the Mortgage Bankers Association.

Meanwhile, July saw a record surge in existing-home sales, while mortgages in serious delinquency were on the rise

There were questions about the GSEs' use of structured credit risk transfers in the single-family market given an earlier pandemic-related market disruption.

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

Mortgage rates crept up this week, nearly reaching the 3% mark as lenders raised prices because of a new fee, although purchase activity remained solid, according to Freddie Mac.

The number of loans going into coronavirus-related forbearance decreased for the ninth consecutive week, according to the Mortgage Bankers Association.

Interest rates jumped from a new record low, while Fannie Mae and Freddie Mac were widely panned for imposing a refinance fee.

The FHFA director’s move this week to impose an “adverse market fee” of 0.5% on most refinanced mortgages will shift billions out of the hands of American consumers and into the hands of Fannie Mae and Freddie Mac — and their private shareholders.

But the 30-year fixed remains below 3%, which should continue to support increased demand.