Daily Newsletter: CFPB Reconsidering TRID?; Rates End Week at Lows; Bank of Mom and Dad

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30 Year Fixed
3.67% -0.01
15 Year Fixed
2.95% -0.01
10YR Treasury
1.84% +0.0090
FNMA 30YR 3.5
104.77 +0.02
FNMA 15YR 2.5
104.41 +0.03
View Today’s Rates
Friday April 29, 2016
Mortgage Rate Watch – 4:16PM
Mortgage Rates End Week at Lows
Mortgage rates moved just slightly lower in most cases, to end the week at the best levels since April 19th. Mor importantly, the past 3 days of improvements go a long way toward defeating …
MND NewsWire – 11:29AM
Does The Bank of Mom and Dad Help Homeownership?
Does a financial boost from mom and dad make it more likely a young person will buy a home? It depends. And that might change. Those statements are more or less the bottom line from …
MND NewsWire – 11:26AM
CFPB to Reopen Know Before You Owe Rulemaking
The Consumer Financial Protection Agency (CFPB) just opened the door to possible changes and refinements in its Know Before You Owe rule. The agency, in a letter addressed trade groups …
Pipeline Press – 10:37AM
CFPB Offers Plans for TRID; Upcoming Events; Who’s Afraid of HMDA?
“They” say plenty of things about time flying as you grow older. (“Life is like a toilet paper role – the closer you get to the end the faster it goes” …

Latest Video


Santelli: It’s been a wild week

Consumer sentiment index at 89.0 for April

Market’s ‘day of reckoning’? Yeah, it’s called an economic cycle: Pro

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.67% -0.01
15 Yr FRM 2.95% -0.01
FHA 30 Year Fixed 3.25% -0.05
Jumbo 30 Year Fixed 3.62% +0.00
5/1 Yr ARM 3.04% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.20 -0.01
30 Yr. Fixed 4.12% 1.43 -0.05
MBA ** hdr_arrow.png
30 Yr. Fixed 3.82% 0.33 -0.04
15 Yr. Fixed 3.10% 0.37 +0.00
30 Yr. Jumbo 3.74% 0.31 -0.02
30 Yr. FHA 3.66% 0.29 -0.07
5/1 ARM 2.94% 0.20 +0.00
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.66% 0.60 +0.07
15 Yr. Fixed 2.89% 0.60 +0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.86% 0.50 +0.05

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 102.45 -0.03
30YR FNMA 3.5 104.77 +0.02
30YR GNMA 3.0 103.25 +0.05
30YR GNMA 3.5 105.47 -0.02
15YR FNMA 3.0 104.41 +0.03
15YR FNMA 2.5 102.72 +0.06
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
TR_Eikon_Email.png
2 YR 0.7816% -0.0079
5 YR 1.2956% +0.0032
10 YR 1.8350% +0.0090
30 YR 2.6765% -0.0070
Prices as of: 4/29/2016 4:32PM EST

23623981

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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MBS RECAP: Month-End Buying Boosts Bond Markets

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MBS RECAP: Month-End Buying Boosts Bond Markets

Posted to: MBS Commentary
Friday, April 29, 2016 4:41 PM

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  • European traders were month-end sellers, pushing rates higher overnight
  • US bond markets battled back during the domestic session
  • Treasuries were green at the 3pm close and MBS are still green, barely
  • Not much impact from economic data, although data was generally supportive of longer-term themes (slowing economy)

Bond markets had a completely inoffensive month-end session with Treasuries and MBS ending up essentially unchanged versus yesterday’s excellent (relative) closing levels. When compared against 3 weeks ago, current levels leave a bit to be desired, but compared to…

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Daily Rate Update: Mortgage Rates End Week at Lows

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dailyrateheader.png
30 Year Fixed
3.67% -0.01
15 Year Fixed
2.95% -0.01
10YR Treasury
1.84% +0.0090
FNMA 30YR 3.5
104.77 +0.02
FNMA 15YR 2.5
104.41 +0.03
View Today’s Rates
Mortgage Rates End Week at Lows
April 29, 2016
Mortgage rates moved just slightly lower in most cases, to end the week at the best levels since April 19th. Mor importantly, the past 3 days of improvements go a long way toward defeating a worriesome trend toward higher rates that began in early April. With the recent gains, the average conventional 30yr fixed rate is back down to 3.625% on top tier scenarios after having briefly moved up to 3.75%. That said, keep in mind that rate sheet offerings have varied more widely than normal from lender to lender due to recent market volatility.

Mortgage rates are primarily determined by trading levels in bond markets. A lot of bond market participants are required to be holding a certain mix of bonds at the end of the month. As such, the beginning and end of any given month marks a time of increased momentum as traders adjust their holdings. In other words–plainer words–there is simply some extra motivation for rates to move higher or lower at the beginning and end of the month. The implication is that the past 3 days of improvements in mortgage rates could be factor of that “month-end” set of motivations, and we’ll need to see how things are going next week before officially declaring an end to our recent troubles.

Loan Originator Perspective

“It appears bonds want to close the week at their lows. As is pretty common for a Friday, most lenders are holding back the gains. I started this morning leaning toward locking but with bonds rallying into the close, I am now favoring floating over the weekend.” –Victor Burek, Churchill Mortgage

“My pricing improved marginally today, compared with yesterday’s PM rates (which improved over the AM’s), as MBS and treasuries ended at the week’s best levels. The big question is whether market momentum carries into next week, which ends with April’s NFP employment situation report on Friday. I love the fact we posted 3 consecutive days of gains, let’s shoot for more. Floating borrowers (and their LOs) need to have clear goals for their loans; if pricing worsens, when do you jump off your float boat?” –Ted Rood, Senior Originator

Today’s Best-Execution Rates

  • 30YR FIXED – 3.625-3.75%
  • FHA/VA – 3.25%-3.5%
  • 15 YEAR FIXED – 3.00%
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • The Fed finally hiked on December 16th, causing fears of rising rates in 2016, but markets began the new year with rates moving surprisingly lower. Major losses in stocks and oil prices were part of the same trend of investors moving away from risk.
  • After bottoming out fairly close to all-time lows in February, rates have seen only brief episodes of volatility in a low, narrow range.
  • Some of the forces that had been helping rates are now at risk of reversing course. Namely, stocks and oil have been trying to break higher and European bond markets bounced near all-time lows.
  • After being “lock-biased” for several weeks, a window of opportunity may be opening up after the Fed avoided sending any clear warnings about a June rate hike. We’ll reassess the broader trend by the end of the week.
  • As always, please keep in mind that the rates discussed generally refer to what we’ve termedbest-execution(that is, the most frequently quoted, conforming, conventional 30yr fixed rate for top tier borrowers, based not only on the outright price, but also ‘bang-for-the-buck.’ Generally speaking, our best-execution rate tends to connote no origination or discount points–though this can vary–and tends to predict Freddie Mac’s weekly survey with high accuracy. It’s safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie’s once-a-week polling method).

30 Year Fixed Rate Mortgage
29?w=360
15 Year Fixed Rate Mortgage
29?w=360&p=15YRFRM

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.67% -0.01
15 Yr FRM 2.95% -0.01
FHA 30 Year Fixed 3.25% -0.05
Jumbo 30 Year Fixed 3.62% +0.00
5/1 Yr ARM 3.04% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.20 -0.01
30 Yr. Fixed 4.12% 1.43 -0.05
MBA ** hdr_arrow.png
30 Yr. Fixed 3.82% 0.33 -0.04
15 Yr. Fixed 3.10% 0.37 +0.00
30 Yr. Jumbo 3.74% 0.31 -0.02
30 Yr. FHA 3.66% 0.29 -0.07
5/1 ARM 2.94% 0.20 +0.00
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.66% 0.60 +0.07
15 Yr. Fixed 2.89% 0.60 +0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.86% 0.50 +0.05

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 102.45 -0.03
30YR FNMA 3.5 104.77 +0.02
30YR GNMA 3.0 103.25 +0.05
30YR GNMA 3.5 105.47 -0.02
15YR FNMA 3.0 104.41 +0.03
15YR FNMA 2.5 102.72 +0.06
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.7816% -0.0079
5 YR 1.2956% +0.0032
10 YR 1.8350% +0.0090
30 YR 2.6765% -0.0070
Prices as of: 4/29/2016 4:32PM EST

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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.
© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
View this Report in your Web Browser | Forward to a Friend | Subscribe
This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice.
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Weekly Newsletter: Homeownership Near All-Time Low: Prices Near All-Time Peak; Rates Heal a Bit; CFPB Reconsidering TRID?!

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30 Year Fixed
3.67% -0.01
15 Year Fixed
2.95% -0.01
10YR Treasury
1.84% +0.0090
FNMA 30YR 3.5
104.77 +0.02
FNMA 15YR 2.5
104.41 +0.03
View Today’s Rates
Friday April 29, 2016
MND NewsWire – 4/28
Homeownership near its lowest in history
Home sales may be rising, but homeownership in the United States is heading down once again. After gains in the second half of 2015, the homeownership rate fell to just 63.6 percent …
MND NewsWire – 4/28
Home Prices Closing on 2006 Peak
Home prices rose 0.7 percent from January to February according to Black Knight Financial Services. The company’s Home Price Index (HPI) was at $245,000 a 5.3 percent increase from …
Mortgage Rate Watch – 4/29
Mortgage Rates End Week at Lows
Mortgage rates moved just slightly lower in most cases, to end the week at the best levels since April 19th. Mor importantly, the past 3 days of improvements go a long way toward defeating …
MND NewsWire – 4/29
CFPB to Reopen Know Before You Owe Rulemaking
The Consumer Financial Protection Agency (CFPB) just opened the door to possible changes and refinements in its Know Before You Owe rule. The agency, in a letter addressed trade groups …

Latest Video


Santelli Exchange: Housing headwinds

March new home sales down 1.5%

Santelli Exchange: First quarter weakness

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.67% -0.01
15 Yr FRM 2.95% -0.01
FHA 30 Year Fixed 3.25% -0.05
Jumbo 30 Year Fixed 3.62% +0.00
5/1 Yr ARM 3.04% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.20 -0.01
30 Yr. Fixed 4.12% 1.43 -0.05
MBA ** hdr_arrow.png
30 Yr. Fixed 3.82% 0.33 -0.04
15 Yr. Fixed 3.10% 0.37 +0.00
30 Yr. Jumbo 3.74% 0.31 -0.02
30 Yr. FHA 3.66% 0.29 -0.07
5/1 ARM 2.94% 0.20 +0.00
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.66% 0.60 +0.07
15 Yr. Fixed 2.89% 0.60 +0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.86% 0.50 +0.05

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 102.45 -0.03
30YR FNMA 3.5 104.77 +0.02
30YR GNMA 3.0 103.25 +0.05
30YR GNMA 3.5 105.47 -0.02
15YR FNMA 3.0 104.41 +0.03
15YR FNMA 2.5 102.72 +0.06
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
TR_Eikon_Email.png
2 YR 0.7816% -0.0079
5 YR 1.2956% +0.0032
10 YR 1.8350% +0.0090
30 YR 2.6765% -0.0070
Prices as of: 4/29/2016 4:32PM EST

23623981

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.
© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Weekly Rate Report: Mortgage Rates Score Important Victory

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weeklyrateheader.png
30 Year Fixed
3.67% -0.01
15 Year Fixed
2.95% -0.01
10YR Treasury
1.84% +0.0090
FNMA 30YR 3.5
104.77 +0.02
FNMA 15YR 2.5
104.41 +0.03
View Today’s Rates
Mortgage Rates Score Important Victory
April 29, 2016
Market Summary
Mortgage Rates moved lower this week, scoring an important victory against the trends set in motion early this month. Case in point, last week saw rates move higher at their fastest pace in 6 months, so any reprieve is welcome news.

The reprieve in question isn’t massive, but again, it has great timing. 30yr fixed rates for top tier scenarios were just in the process of moving up to 3.75% when this week’s much-anticipated Fed Announcement came out.

Many thought the Fed would use this opportunity to foreshadow a June rate hike. When the didn’t, rates began improving quickly. Most of the gains were seen on Wednesday, but Thursday and Friday continued the healing, ultimately leaving 3.625% intact as the most prevalent conventional quote.

Next week will be critical in confirming the bigger-picture trend as it’s the start of a new month as well as a big week for economic data.

– Matt Graham, Chief of Operations, Mortgage News Daily

30 Year Fixed Rate Mortgage
29?w=360
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage

Beginning Average: 3.75%
Ending Average: 3.67%
Weekly Change: -0.08%
Yearly Change: -0.04%

Friday, April 22, 2016 : 3.75% (+0.02%)
Mortgage rates continued higher today, solidifying this week as the worst one in quite a while. Not since the first week in November have rates risen so quickly. That said, the volatility might be a bit easier to stomach this time around–especially for those who haven’t been able to lock a rate yet. Reason being: the total move amounts to about an eighth of a percent.

More detail: “Worst Week For Mortgage Rates Since November”

Monday, April 25, 2016 : 3.75% (+0.00%)
Mortgage rates didn’t move much, if at all, today. That’s not exactly what we want to see right now considering they’re as high as they’ve been since the 2nd half of March. The average lender has now moved up from quoting conventional 30yr fixed rates of 3.625% to 3.75% on top tier scenarios. Earlier this month, stronger lenders were as low as 3.5%. With no meaningful motivation in terms of economic data or news, today’s lack of mortgage rate movement isn’t too surprising. Later this week, it will be very hard for rates to avoid motivation.

More detail: “Mortgage Rates Begin Week at Recent Highs”

Tuesday, April 26, 2016 : 3.75% (+0.00%)
Mortgage rates remained in line with their highest levels in a month for the third straight day. The average lender is now quoting conventional 30yr fixed rates of 3.75% on top tier scenarios. Earlier this month, stronger lenders were as low as 3.5%, and the average had been 3.625% until late last week.

Unlike yesterday, there were several economic reports today. Frustratingly enough, the two biggest reports were both weaker–something that would normally push rates lower–but investors opted instead to brace for the unknown impact from tomorrow’s Fed Announcement. The Fed is not expected to hike rates at this meeting, but they may use it as a venue to telegraph a June rate hike (much like they used the October Announcement to presage December’s hike). Either way, market participants will likely be in a betting mood again by the end of the week. That said, those bets could go either direction. The only high probability bet is that rate movement will be much more volatile in the second half of the week.

More detail: “Mortgage Rates Sideways ahead of Fed”

Wednesday, April 27, 2016 : 3.73% (-0.02%)
Mortgage rates caught a break today! After having moved sideways or higher for the past 7 days, and spending the last 3 at the highest levels in more than a month, rates finally moved lower, albeit modestly. The friendly push came from the Federal Reserve after it released its monetary policy announcement this afternoon.

More detail: “Mortgage Rates Helped by Fed Announcement”

Thursday, April 28, 2016 : 3.68% (-0.05%)
Mortgage rates continued lower for a second straight day, ultimately making it back to levels not seen since last Tuesday. Today’s improvements are partly an extension of yesterday’s reaction to the Fed Announcement, but also acknowledge the end of this week’s Treasury auction process. This often involves a slight artificial pressure toward higher yields beginning on Tuesday with the pressure being released after the week’s last auction on Thursday afternoon.

More detail: “Mortgage Rates Back Down to Last Week's Range”

Friday, April 29, 2016 : 3.67% (-0.01%)
Mortgage rates moved just slightly lower in most cases, to end the week at the best levels since April 19th. Mor importantly, the past 3 days of improvements go a long way toward defeating a worriesome trend toward higher rates that began in early April. With the recent gains, the average conventional 30yr fixed rate is back down to 3.625% on top tier scenarios after having briefly moved up to 3.75%. That said, keep in mind that rate sheet offerings have varied more widely than normal from lender to lender due to recent market volatility.

More detail: “Mortgage Rates End Week at Lows”

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Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads.
Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.67% -0.01
15 Yr FRM 2.95% -0.01
FHA 30 Year Fixed 3.25% -0.05
Jumbo 30 Year Fixed 3.62% +0.00
5/1 Yr ARM 3.04% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.20 -0.01
30 Yr. Fixed 4.12% 1.43 -0.05
MBA ** hdr_arrow.png
30 Yr. Fixed 3.82% 0.33 -0.04
15 Yr. Fixed 3.10% 0.37 +0.00
30 Yr. Jumbo 3.74% 0.31 -0.02
30 Yr. FHA 3.66% 0.29 -0.07
5/1 ARM 2.94% 0.20 +0.00
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.66% 0.60 +0.07
15 Yr. Fixed 2.89% 0.60 +0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.86% 0.50 +0.05

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 102.45 -0.03
30YR FNMA 3.5 104.77 +0.02
30YR GNMA 3.0 103.25 +0.05
30YR GNMA 3.5 105.47 -0.02
15YR FNMA 3.0 104.41 +0.03
15YR FNMA 2.5 102.72 +0.06
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.7816% -0.0079
5 YR 1.2956% +0.0032
10 YR 1.8350% +0.0090
30 YR 2.6765% -0.0070
Prices as of: 4/29/2016 4:32PM EST

TR_Eikon_Email.png

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice.

© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe
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Does The Bank of Mom and Dad Help Homeownership?

Does The Bank of Mom and Dad Help Homeownership?

Posted to: MND NewsWire
Friday, April 29, 2016 9:50 AM

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Does a financial boost from mom and dad make it more likely a young person will buy a home? It depends. And that might change.

Those statements are more or less the bottom line from a working paper prepared by three University of Southern California professors, Dowell Myers, Gary Painter, and Julie Zissimopoulos that is part of a larger study on parental financial transfers to adult children. The three based their work on two data sets, Panel Study of Income Dynamics (PSID) and the Health and Retirement Survey (HRS), that provide information on parental financial transfers, adult children’s transitions into homeownership, and a variety of child and parent demographic, social, and financial characteristics. The working paper is profiled by Myers and Fannie Mae’s Patrick Simmons on the FM Commentary blog

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