A few more Americans decided it might be a good time to buy a home in November, but boy did they change their minds in December. Fannie Mae said the net positive responses to that question in its December National Housing Survey (NHL) plunged 12 points last month, dragging its Home Purchase Sentiment Index down to 83.5. This is 2.7 points lower than in November and down 2.3 points year-over-year. The chart puts things into better perspective, however, especially when we consider what the line might have looked like if this survey had been established before 2011. The share of survey respondents who thought it was a good time to buy dropped 5 points to 52 percent while there was a 7-point increase in those who thought it was a bad time, to 41 percent. The resulting net of 11 points was the lowest

January 7, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jan 7, 2019 Mortgage Rates Erase Yesterday's Drop After Jobs Report Fri, Jan 4, 2019 4:42PM Mortgage rates hit the lowest levels in nearly a year as of yesterday afternoon. In general, they've had a one track mind for the better part of two months. Today brought the first real challenge to the recent trend. In plain terms, yesterday brought us the biggest single day drop in mortgage rates of this cycle and today completely erased it. As the headline suggests, today's jobs report had quite a lot to do with the bounce. Strong economic data is generally an enemy to low interest rates, but the impacts vary widely depending on the report. The jobs report is universally considered to be th... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 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 99.80 +0.21   95.05 100.47 UMBS 30YR 5.5 101.21 +0.18   97.47 101.61 10 YR Treasury 4.045 -0.036   3.706 4.780 MBS Live Week Ahead: A Few Levels To Watch As Bonds Try To Hold Recent Gains Mon, Jan 7, 2019 9:52AM Will rates be able to remain in the comparatively great territory they entered last week, or does Friday's post-NFP sell-off mean we should be fearful of a big retracement back toward levels from earlier in Dec or worse? Neither I, nor anyone ... (read more) MBS Live Recap: Jobs and Powell Douse Rate Rally Fri, Jan 4, 2019 5:16PM Yesterday's recap headline spoke of bonds being on fire in a good way.  Apparently word got out .  Several party poopers arrived with buckets of water today. The first of these buzzkills didn't get much mainstream press but was arguably armed with just as many buckets as anyone.  I'm referring to the overnight bounce in bond yields that o... (read more) MBS Price Change UMBS 4.5 97.82 +0.19 UMBS 5.0 99.80 +0.22 UMBS 5.5 101.21 +0.18 GNMA 4.5 98.18 +0.16 GNMA 5.0 100.07 +0.25 GNMA 5.5 101.07 +0.18 Pricing as of: 9/18 4:59AM EST US Treasury Yield Change 2 YR Treasury 3.522 -0.042 5 YR Treasury 3.613 -0.044 7 YR Treasury 3.797 -0.042 10 YR Treasury 4.044 -0.037 30 YR Treasury 4.641 -0.046 Pricing as of: 9/18 4:59AM EST Other News Housing Sentiment Struggling, But Still Respectable Mon, Jan 7, 2019 10:51AM A few more Americans decided it might be a good time to buy a home in November, but boy did they change their minds in December. Fannie Mae said the net positive responses to that question in its December National Housing Survey (NHL) plunged 12 points last month, dragging its Home Purchase Sentiment Index down to 83.5. This is 2.7 points lower than in Novem... (read more) Another Dim Outlook for Refinancing Fri, Jan 4, 2019 11:34AM Refinancing activity has probably held up better than expected as interest rates have risen. Refinance applications accounted for more than 40 percent of the total in each of the Mortgage Bankers Association's weekly application volume summaries in December, aided by an unexpected dip in rates. But CoreLogic's chief economic Frank Nothaft is predicting a dim... (read more) Homebuyer Product; Sample of Vendor News; Rates Reflecting Slowdown Mon, Jan 7, 2019 10:00AM Let’s start the first 5-day workweek of 2019 off with something entirely non-mortgage related, although “unintended consequences from revenue-based decisions” come to mind. Weight can be a serious matter. (I admit that I have trouble keeping the pounds off with my diet of Cap’n Crunch for breakfast, salami and cheese for lunch, and pa... (read more) Latest Video Tax refunds will be issued despite government shutdown Larry Summers: Odds better than 50/50 we have a recession within 2 years Cashin: The Fed learned its lesson and will be more careful Around the Web Washington Post Experts weigh in on what the 2019 housing market will bring CNBC Fed's Bostic sees one interest rate increase for 2019 CNBC Here's how home buyers could save some money amid rising interest rates Bloomberg Yale's Shiller Says Fed's Powell Is 'Reasonable' Calculated Risk Blog Update: Framing Lumber Prices Down Year-over-year CNBC ISM non-manufacturing index hits 57.6 in December NAHB Eye on Housing Consumer Confidence Drops in December Bloomberg The Fed and the PBOC Are No Longer Poles Apart CNBC US Treasury yields move lower as trade war talks continue Bloomberg U.S. Bond Yields Pull Off Lows as Fed Embarks on Listening Tour Reuters Powell to markets: Fed is flexible and aware of risks CNBC Rent, mortgage payments are hard to meet for workers entangled in the government shutdown Calculated Risk Blog How can the unemployment rate increase if the economy is adding so many jobs?

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