The Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market. MBA's Builder Application Survey (BAS) data for November shows mortgage applications for newly constructed home purchases falling by 14 percent compared to October. The MBA data is not adjusted to account for seasonal variations, and while sales nearly always decline this time of year, applications were also down 11 percent compared to November 2017. Based on the survey data and assumptions about market coverage and other factors, MBA estimates new home sales were running at a seasonally adjusted annual rate of 627,000 units in November. This is down 6.8 percent from the October estimate of 673,000 units. On an unadjusted basis the estimate is for 45,000

December 13, 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 Dec 13, 2018 Mortgage Rates Could Go Even Higher Wed, Dec 12, 2018 6:24PM Mortgage rates rose more noticeably today as a part of a 3 day bounce after hitting the lowest levels in roughly 3 months at the end of last week. Whereas yesterday's increases weren't really worth mentioning, today's hurt--depending on the scenario. In general, this bounce was to-be-expected. Granted, we can't ever know exactly how big such bounces will be or how long they'll last, but when rates improve for as many days in a row as they recently had, a bounce is increasingly inevitable. So how bad is this one? Not too bad so far. I'm not thrilled about the "3 days" part, but really it's only... (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 99.96 +0.04   95.05 100.62 UMBS 30YR 5.5 101.23 -0.06   97.47 101.61 10 YR Treasury 4.031 -0.010   3.621 4.780 MBS Live Day Ahead: Clear Correction May Be Finding Clear Ceiling Thu, Dec 13, 2018 9:26AM The first 3 days of this week have offered a clear correction/consolidation to the strong rally of the previous month.  This had as much to do with timing and technicals as anything else.  In other words, the rally brought yields so much lo... (read more) MBS Live Recap: MBS Handily Outperform Treasuries as Consolidation Continues Wed, Dec 12, 2018 7:02PM Today's trading session was far less eventful than anything else seen in the past few weeks, both in terms of movement and volume.  Although Treasury yields were higher, most of the increase came in the overnight session, and additional volatility was minimal throughout the day.  By the time we get to MBS (as opposed to Treasuries), things were... (read more) MBS Price Change UMBS 4.5 98.04 +0.08 UMBS 5.0 99.96 +0.04 UMBS 5.5 101.23 -0.06 GNMA 4.5 98.16 +0.17 GNMA 5.0 100.20 -0.04 GNMA 5.5 101.20 -0.02 Pricing as of: 9/16 6:47PM EST US Treasury Yield Change 2 YR Treasury 3.503 -0.034 5 YR Treasury 3.586 -0.014 7 YR Treasury 3.771 -0.021 10 YR Treasury 4.031 -0.010 30 YR Treasury 4.652 -0.009 Pricing as of: 9/16 6:47PM EST Other News Not Just the Season; MBA Predicts New Home Sales Down Sharply Thu, Dec 13, 2018 9:58AM The Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market. MBA's Builder Application Survey (BAS) data for November shows mortgage applications for newly constructed home purchases falling by 14 percent compared to October. The MBA data is not adjusted to account for seasonal var... (read more) Lenders Looking to New Tech as Pessimism Over Profit Margins Grows Wed, Dec 12, 2018 11:21AM Lenders continue to be pessimistic about their profit outlook as 2018 draws to an end. Fannie Mae said its fourth quarter 2018 Mortgage Lender Sentiment Survey found the profit outlook reported by respondents at an all-time survey low. This was true whether they were talking about purchase or refinance mortgages or about GSE-eligible, non-GSE-eligible, or go... (read more) Books by Lenders, For Lenders; False Claims Act Rears it's Head; LO Products and Services Thu, Dec 13, 2018 9:23AM “Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?” It turns out that, in terms of grabbing their pieces of ground, first-time home buyers were more active in the first three quarters of 2018 than at any time since 2005, per Genworth Mortgage Insurance . Lenders wish they would be as activ... (read more) Latest Video Here are the results from CNBC's All-America Economic Survey Moody's economist: Next recession is coming into view Initial jobless claims fall to near 49-year low Around the Web Bloomberg GOP Hurtles Toward Shutdown With No Plan to Avoid It Reuters U.S. government posts $205 billion deficit in November Reuters ECB ends crisis-fighting bond buys but eyes increasing risks Reuters Bond giant Pimco expects 30 percent chance of U.S. recession in '19 consumerfinancemonitor.com CFPB issues annual fair lending report Calculated Risk Blog Hotels: Occupancy Rate Decreased Year-over-year CNBC Homebuilders are not getting a bump from lower mortgage rates NAHB Eye on Housing Custom Home Building Annual Share CNBC Import prices post biggest drop in more than three years Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 206,000 CNBC This is the one chart the Fed must watch right now, veteran economic forecaster says Reuters ECB formally ends QE, keeps reinvestments open-ended Redfin Housing Inventory Up 5% in NovemberFastest Growth in 3 Yearsas Sales Decline 8%

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