Over the past week or so we’ve diverted our attention off the details of the mortgage industry to discuss more whimsical topics… like the Pittsburgh Marathon, Amazon and Apple’s breach into the housing market and why you should move to Charleston, SC… so I’d like to roll up our sleeves are dive back into the details. First and foremost, the 10-yr Treasury is up over 3% and will probably stay that way until the end of the year. It’s time to get used to these numbers…4.5%, 4.62

I read this article earlier today and it really got me thinking. Technically, for a loan to be categorized as a “Qualified Mortgage” the DTI ratio must be 43%... or (and that’s a big OR) the loan fits into the GSE’s eligibility requirements, which for FNMA & FHLMC could mean a DTI of 50% (this is the QM Patch). This is a curious topic and it sparks debate, so much so that the Trump Administration has gone as far as saying it gives the GSE’s an unfair advantage in the market.