All three reports on residential construction activity in September were disappointing, but no more so than any of the other housing data that speaks to the ongoing process of leveling-off. While there had been some erosion expected from the August numbers, the actual data did not meet analysts' expectations. Upward revisions to August permitting took some of the sting out of that report, but the opposite happened with housing starts. Results were particularly poor in the South, likely resulting from the impact of Hurricane Florence . Permits for residential construction were issued at a seasonally adjusted annual rate of 1,241,000 units. This is 0.6 percent lower than the August estimate of 1,249,000 and 1.0 percent below the annual rate of 1,254,000 the previous September. The August number

October 17, 2018 Download our Mobile App: Download our Mobile App: Housing News Housing Construction Down But Not Out All three reports on residential construction activity in September were disappointing, but no more so than any of the other housing data that speaks to the ongoing process of leveling-off. While there had been some erosion expected from the August n... (read more) Rob Chrisman Self-Employed UW Products; Appraisal and Valuation Updates As thousands of MBA conference attendees head for the DC airports, what’s the chatter? Regulators who want to remind lenders that not being able to afford a compliance department doesn’t allow a company to make RESPA violations. That it i... (read more) Housing News MBA Forecast: Purchase Originations to Remain Healthy as Fed Hikes Rates Purchase mortgage originations are expected to increase a bit in 2019, but not by enough to offset the continuing decline in refinancing. A forecast from the Mortgage Bankers Association (MBA), released Tuesday at its 2018 Annual Convention and Expo,... (read more) Housing News Mortgage Apps Take a Nosedive, Rates on the Rise Mortgage applications were down last week by the largest seasonally adjusted percentage since September 2017 . The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, dropped by 7.1 percent during the ... (read more) MBS Commentary MBS Live Day Ahead: Fed Minutes Approach; and a Musical Guest! There are only so many ways to say that bonds are range-bound and waiting for the motivation to break that range.  Could it be the Fed Minutes today?  Sure!  But could the Fed Minutes also be a non-event that only prolongs the sidewa... (read more) MBS Commentary MBS Live Recap: Uneventful Day For Bonds; Fed Minutes Tomorrow The S&P recovered roughly half of its losses from last week today, decisively breaking out of the consolidation pattern that had been in place through this morning.  Bonds, on the other hand, are still in the consolidation pattern that acc... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.07 +0.26 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:53PM EST 10 Year US Treasury 4.2246 -0.0567 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:53PM EST Latest Video Closing Bell Exchange: Fed minutes did have market impact Fed's path is pretty predictable, says former Dallas Fed president Fmr. Pimco director: Fed 'flying A-grade' right now Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in September Reuters Fed downplays policy headaches from drop in bank reserves Reuters Every Fed policymaker was on board for September rate hike: minutes Federal Reserve Minutes of the Federal Open Market Committee, September 25-26, 2018 NAR - Realtor.com Big Jump in Americans Saying Renting Is Cheaper Than Owning CNBC Ray Dalio: Cycles Repeat Themselves CNBC Housing stocks get hit hard amid weak data and worries on Wall Street about rising interest rates Calculated Risk Blog Comments on September Housing Starts Reuters Wall St. dips at open; Fed minutes awaited CNBC Here's how much money you have to make to afford an 'average' home in the hottest US cities Reuters Factbox: More than 163,000 U.S. customers without power after Hurricane Michael CNBC US Treasury yields move higher ahead of earnings, Fed minutes Bloomberg ECB Post, China's US Treasuries, Central Bank Watch: Eco Day

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