Builder confidence took a steep dive this month, reflecting increasing news of slowing home sales and rising concerns over affordability. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), a joint project of NAHB and Wells Fargo, dropped eight points. The index, which has been floating in the 67 to 70 range since March, had a November level of 60, the lowest since July 2016. NAHB Chairman Randy Noel said, "Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices." "For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction," said NAHB Chief Economist

November 19, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for Nov 19, 2018 Mortgage Rates Lowest in a Month Fri, Nov 16, 2018 6:19PM Mortgage rates hit their lowest levels of THE month yesterday, and the lowest levels in A month today. It's a bit of a technicality, really. As of yesterday, there were a few days in mid-to-late October that saw lower rates. Today's drop means we'd need to go back to early October to see anything lower. What's the significance of being at the lowest levels in a month? None, really. It's just really fun to be able to say such things in an environment where such things haven't been easily said for quite some time! Perhaps more relevant and more tangible is the fact that we can say rates are near... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.97 +0.01   95.05 100.50 UMBS 30YR 5.5 101.27 +0.04   97.47 101.61 10 YR Treasury 4.027 -0.004   3.643 4.780 MBS Live Day Ahead: Slow Holiday Trading Unless These Key Levels Break Mon, Nov 19, 2018 9:12AM Happy Thanksgiving week.  These can go a few different ways for bond markets with 2 main varieties standing out.  Both varieties are the product of illiquidity (fewer buyers and sellers at any given price point).  In the first case, ... (read more) MBS Live Recap: New Fed Vice Chair Helps Rates and Stocks Fri, Nov 16, 2018 7:24PM We haven't heard much out of new Fed Vice Chair Richard Clarida since he accepted the position, but what we heard today was good.  Well, at least the bond market reaction was good.  His comments ended up setting the tone for the day. So what did he say?   Nothing too complicated... Whereas Fed Pres Bostic was talking about a "neutral rate... (read more) MBS Price Change UMBS 4.5 98.02 -0.01 UMBS 5.0 99.96 0.00 UMBS 5.5 101.26 +0.03 GNMA 4.5 98.16 +0.00 GNMA 5.0 100.25 +0.05 GNMA 5.5 101.17 -0.04 Pricing as of: 9/16 9:55PM EST US Treasury Yield Change 2 YR Treasury 3.506 +0.003 5 YR Treasury 3.588 +0.002 7 YR Treasury 3.776 +0.004 10 YR Treasury 4.031 +0.000 30 YR Treasury 4.651 -0.001 Pricing as of: 9/16 9:55PM EST Other News After a Steady Run, Builder Confidence Finally Folds Mon, Nov 19, 2018 10:32AM Builder confidence took a steep dive this month, reflecting increasing news of slowing home sales and rising concerns over affordability. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), a joint project of NAHB and Wells Fargo, dropped eight points. The index, which has been floating in the 67 to 70 range since March, had... (read more) New Home Sales, Prices Faded in October Fri, Nov 16, 2018 12:16PM The Mortgage Bankers Association (MBA) notes that applications for the purchase of new homes declined by 2.1 percent in October compared to the same month in 2017. Those applications were also 11 percent lower than in September. The information, taken from responses to MBA's Builder Application Survey, does not include any adjustment for seasonal patterns. B... (read more) Lehman Litigation Webinar; Upcoming Events and Training; New Products Mon, Nov 19, 2018 9:18AM Thanksgiving means many things to many people: family time, a half day of work Wednesday, or a four-day weekend. To the staff and students of Johns Hopkins, they are thankful for the gift from Michael Bloomberg, class of 1964, of $1.8 billion (with a “b”). Lenders and their staffs give millions every year to various causes, but beginning in the f... (read more) Latest Video Closing Bell Exchange: Interest rates most likely have peaked Santelli Exchange: Have rates peaked for the year? Homebuilder confidence plummets to the lowest level in more than 2 years Around the Web Bloomberg Fed Study of Labor Participation Finds US at Full Employment CNBC Fed doesn't seem in as much of a rush to raise interest rates as stocks plunge Calculated Risk Blog California Bay Area Home Sales Decline 8% YoY in October, Inventory up 21% YoY Reuters A key Fed official stays the course on U.S. rate hikes amid growing doubts Calculated Risk Blog Sacramento Housing in October: Sales Down 4.8% YoY, Active Inventory up 21% YoY Bloomberg Bond Traders Face More Volatility as Fed Uncertainty Increases Brookings Institution Americans aren't moving to economic opportunity CNBC Goldman Sachs believes the US economy will slow to a crawl next year Reuters Germany's Weber says draft Brexit deal will not be renegotiated Bloomberg Corporate America's Debt Boom Looks Like a Bust for the Economy Calculated Risk Blog Existing Home Sales for October: Take the Over CNBC Slumping home prices are creating a buyers market in luxury homes Reuters A vote reversed: What is the path back from Brexit?

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