Yields by the Treasury at their Highest in Five Years

Today’s News Synopsis:

In The News:

Housing Wire – “These are the top and bottom 10 housing markets right now” (12-18-15)

“‘Our top ten have been fairly consistent, as limited supply and low interest rates continue to push these markets. This list will change if we see an increase in interest rates early in 2016,’ said Tom O’Grady, CEO of Pro Teck Valuation Services.”

Mortgage Professional America – “Morning Briefing: Buyers want to buy but worry about economy” (12-18-15)

“Buying a home is still very much part of the American Dream but concerns over the economy are preventing some from doing so.”

DS News – “The Morning After: What’s Next Now that the Fed Raised Rates?” (12-18-15)

“The Federal Reserve made a bold move yesterday, which most of the mortgage predicted would happen before 2015 comes to a close. The federal funds target rate was raised by a quarter of a percentage point up to 1/4 to 1/2 from its near-zero level where it has been since 2006.”

Housing Wire – “BofA, Chase, Citi, Ditech, SunTrust, Wells Fargo pass servicing compliance tests” (12-18-15)

“Nearly all of the mortgage servicers that are subject to the terms of the National Mortgage Settlement achieved complete compliance with the NMS’s servicing rules in the first half of 2015, according to a new report from Joseph Smith, the Monitor of the National Mortgage Settlement.”

Mortgage Professional America – “Treasury two-year yields reach highest since 2010 on Fed boost” (12-18-15)

“Yields rose across maturities after Fed officials lifted borrowing costs by 0.25 percentage point. Policy makers signaled a gradual approach to additional rate increases amid tame U.S. inflation.”

Mortgage Bankers Association – “MBA Announces Promotion of Tamara King to Vice President of Residential Policy and Member Engagement” (12-18-15)

“Today, the Mortgage Bankers Association (MBA) announced the promotion of Tamara King to the position of Vice President of Residential Policy and Member Engagement, effective January 1, 2016.”

Housing Wire – “Inventory shortages will continue to dent housing well into 2016” (12-18-15)

“This low housing inventory environment is not projected to go away any time soon, according to the latest report from Capital Economics.  “A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales and put upwards pressure on house price,” the report said.”

Mortgage Professional America – “Is refinance business dying?” (12-18-15)

“Now that the record-low rate era has come to an end, so too has the refi era, according to one veteran originator.”

DS News – “Here’s Why the Nation’s Housing Policy Must Grow Beyond Traditional Homeownership” (12-18-15)

“The higher demand for single-family rental properties, primarily due to low vacancy rates, has put upward pressure on rents. In turn, rising rents have prevented many would-be first-time homebuyers from entering the housing market. The national homeownership rate fell to a 48-year low in the summer of 2015 to 63.6 percent.”