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Pending home sales put in an especially strong performance in June , the second consecutive positive report as well as the fourth in five months. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts that are signed to purchase existing homes rose 2.8 percent to 108.3 compared to 105.4 in May. The month-over-month gain that month was 1.1 percent. In addition, the contract signing performance in June snapped the PHSI's 17-month streak of year-over-year losses. The June reading was up 1.6 percent compared to one year earlier. The results were significantly higher than expected . Analysts polled by Econoday had a consensus forecast of a 1.1 percent increase with the highest estimate at 1.5 percent. Lawrence Yun
Housing News
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Pending home sales put in an especially strong performance in June , the second consecutive positive report as well as the fourth in five months. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-look... (read more)
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MBS Commentary
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In the day just passed, bonds drifted through one of those characteristic summertime Mondays without any meaningful liquidity, volume, or volatility. Bonds remained inside their prevailing range. In fact, they were nearly glued to the pe... (read more)
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Rob Chrisman
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Who’s in your wallet? How about 33-year-old Paige Thompson? Working for Capital One’s “cloud company,” she is accused of hacking into more than 100 million Capital One customers' accounts and credit card applications earlier t... (read more)
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Housing News
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Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 5.3 percent in June, a bit slower than the 7.5 percent from the previous month. The portfolio balance at the end of the period was $2.239 trillion com... (read more)
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Housing News
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The rate of appreciation in home prices slipped again in May according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The metric, which covers all nine U.S. census divisions, came in at a 3.4 percent year-over-year increase com... (read more)
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Mortgage Rate Watch
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Mortgage rates haven't moved much this week, or last week, or the week before that. In fact, for the average prospective borrower, there haven't been any major changes since first making it down to the multi-year lows in June. That said, there has be... (read more)
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