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New home builders finally got a little wind under their wings this month. The National Association of Home Builders (NAHB) said its NAHB/Wells Fargo Housing Market Index (HMI), a measure of builder confidence in the new home market, finally broke out of the low 60s where it has nested since the first of the year. The overall index rose 3 points to 66 in May, its highest level since October of last year. "Builders are busy catching up after a wet winter, and many characterize sales as solid, driven by improved demand and ongoing low overall supply," said NAHB Chairman Greg Ugalde. "However, affordability challenges persist and remain a big impediment to stronger sales." "Mortgage rates are hovering just above 4% following a challenging fourth quarter of 2018 when they peaked near 5%. This lower
Housing News
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New home builders finally got a little wind under their wings this month. The National Association of Home Builders (NAHB) said its NAHB/Wells Fargo Housing Market Index (HMI), a measure of builder confidence in the new home market, finally broke out... (read more)
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Rob Chrisman
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As we nip at the lowest interest rates in 2019, banking regulators are directing their attention to the declining quality of certain farm loans . A Federal Reserve report says from 2016 to 2018, nonperforming-loan ratios rose for farmland and agricul... (read more)
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Housing News
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Delinquency rates popped up in the first quarter, pushing the percentage of mortgage loans that were behind by at least one payment up 36 basis points (bps) to 4.42 percent. The rate, derived from the Mortgage Bankers Association's (MBA's) quarterly ... (read more)
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Housing News
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The National Association of Home Builders (NAHB) is seeing some softening in the residential remodeling sector. Carmel Ford noted in an article in NAHB's Eye on Housing blog several weeks ago that the association's Remodeling Market Index (RMI) fell ... (read more)
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MBS Commentary
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In the day just past, bonds put in an extremely calm trading session with the lowest volume and volatility in weeks. Treasuries ebbed inconsequentially higher and MBS held steady amid a lack of new, threatening US/China trade headlines.
In th... (read more)
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Mortgage Rate Watch
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Mortgage rates have had a few first world problems to complain about recently. Well, there's really only been one: a relative inability to keep pace with the broader decline in rates as seen in the Treasury market. If Treasuries are the "master," mor... (read more)
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