Fannie, Freddie, Conventional Conforming Updates

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Posted To: Pipeline Press

Regarding the darned time change Sunday, from Georgia Jim Bedsole writes, “Which is why I continue to advocate that, if we are going to be forced to ‘spring forward,’ that it should happen at 4PM on Friday, not 2AM on Sunday.” Something else that is springing is the “ refinanceable population .” The big drop in interest rates has bumped up the refinanceable population to 6.7 million borrowers from 5.2 million last month, according to Black Knight Financial Services. An additional 15 basis point drop in rates would add another 2.1 million borrowers. This data is based on mid-February numbers, with a FHLMC 30 year rate of 3.65%. Just another reason why 2016 might be a little better than expected. Now, if borrowers actually remembered what their rate was……(read more)

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