The Mortgage Bankers Association (MBA) projects a decrease in new home sales in November compared to the previous month, but still sees those sales running well ahead of last year . MBA's Builder Applications Survey (BAS), conducted among mortgage subsidiaries of home construction companies, indicates that sales during the month were down 6 percent from October, but were a healthy 12.2 percent higher than in November 2016. MBA estimates this puts the number of sales during the month at a seasonally adjusted annual rate of 663,000 units compared to 659,000 units in October. On an unadjusted basis, there was an apparent decline month-over-month of 11.3 percent, from 53,000 to 47,000 new homes. The sales estimate is derived using mortgage application information from the BAS, as well as assumptions

December 12, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 12, 2017 Mortgage Rates Slightly Higher Ahead of Fed Tue, Dec 12, 2017 4:30PM Mortgage rates moved modestly higher for the 4th straight business day today. Last Wednesday saw the best levels in a month with some lenders in the best shape since early September. The recent move higher brings rates back into the higher part of the prevailing range. If that all sounds somewhat dramatic, it's not . The "prevailing range" is so narrow that it barely bears mentioning. In fact, quite a few loan scenarios would be quoted the same "note rate" on any day in the past several months. Why, then, are we talking about rates "moving?" Technically, it's the "effective rate" that's moving... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 MBS Live Day Ahead: Focus Remains on Tomorrow Tue, Dec 12, 2017 8:37AM I wish I could tell you that today was destined to be an exciting opportunity for bonds to embark on some sort of epic journey (or at least to definitively break outside the range that's been containing all movement for months).  But alas, the... (read more) MBS Live Recap: Maintaining The Trend Meant Modest Weakness Today Mon, Dec 11, 2017 5:33PM Bond markets had an uneventful overnight session until just before the start of domestic trading hours.  Most market participants were willing to chalk up some early strength to a botched suicide bombing in Times Square (the bomber was the only one seriously injured).  While the bombing attempt was certainly visible in early trading, it didn't re... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 4:53AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 4:53AM EST Other News MBA Sees Sales Falling in Nov Despite Longer-Term Strength Tue, Dec 12, 2017 10:59AM The Mortgage Bankers Association (MBA) projects a decrease in new home sales in November compared to the previous month, but still sees those sales running well ahead of last year . MBA's Builder Applications Survey (BAS), conducted among mortgage subsidiaries of home construction companies, indicates that sales during the month were down 6 percent from Octo... (read more) Increased Delinquency Not a Sign of Distress - Hurricanes to Blame Tue, Dec 12, 2017 9:58AM Loans performed well in September , continuing to erase most of the last vestiges of the market's Great Recession distress. The CoreLogic Performance Insights Report for the month says the national delinquency rate is now 5.0 percent. This ties September with August as the lowest rate since 2007. With the rate so low, measures of improvement are becoming sli... (read more) Upcoming Events; Mortgage and Bank Announcements; MBS Issuance Rankings Tue, Dec 12, 2017 9:16AM Today I find myself in Florida spending time with American Bancshares. Did you know the area code for Cape Canaveral is 321…as in a countdown? 2017 is counting down. No one has a crystal ball, but the MBA thinks that residential volumes will be down 5% in 2018. Others think that is optimistic. Think you have a lot of planning to do for 2018, and the f... (read more) Latest Video CNBC Fed Survey: Overwhelming number think tax cuts will pass Bond Report: U.S. Treasury auctions $12 billion in 30-year bonds. Rental investors may come out ahead in the tax plan Around the Web CNBC GOP tax bill would include 21% corporate tax rate, would start in 2018: Sources CNBC Mitch McConnell says there's no chance of a government shutdown Reuters Special Report: Unfettered construction raises U.S. hurricane costs CNN Fed expected to lift rates as Yellen delivers final press conference Calculated Risk Blog Goldman expects "Tax Reform" to be Enacted in the "Next Two Weeks" Bloomberg US Wholesale Prices Climbed More Than Forecast in November Calculated Risk Blog NFIB: Small Business Optimism Index "Near All-Time High" in November CNBC US producer prices post the biggest annual gain in nearly 6 years Gallup Snapshot: U.S. Economic Confidence Holds Strong builderonline.com Housing Trends Favor Builders Focused on Entry-Level Buyers CoreLogic CoreLogic Reports September Mortgage Delinquency Rates Lowest in More Than a Decade Bloomberg Bond Traders Look to 2018 as This Week's Fed Raise Seen as Done Deal foxbusiness.com The Latest: Tax bill scales back mortgage interest deduction

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