Even though lumber prices have recently declined, the National Association of Home Builders (NAHB) says builders are facing some of the fastest increases of other building material costs in history . The latest Producer Price Index (PPI) from the Bureau of Labor Statistics (BLS) shows an 0.2 percent increase in the prices of goods used in residential construction (with the exception of food and energy costs) in July. Those costs had increased 3.0 percent in June. David Logan posted in NAHB's Eye on Housing blog that the BLS index shows those building costs have declined only twice since December 2019 and have climbed by 19.4 percent over the past 12 months. As an aside, when food and energy are included, the index is up 22.3 percent year-over-year. For the year-to-date (YTD), the index shows

August 16, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman MLO, AE Jobs; Events and Training This Week; AMC, CRM, Jumbo, Pre-Qual Products People ask me what I do when I finish the commentary and send it out. This will give you an inkling . I don’t know if folks at United Wholesale do the same after a decent quarter, but UWM announced its earnings this morning . “2Q21 net in... (read more) Housing News Construction Material Costs are Setting New Records Even though lumber prices have recently declined, the National Association of Home Builders (NAHB) says builders are facing some of the fastest increases of other building material costs in history . The latest Producer Price Index (PPI) from the Bur... (read more) Housing News Forbearance Plans Drop Below 1.8M The number of loans in forbearance dropped by 83,000 over the last week. This is on top of a 71,000 loan reduction during the first few days of August. Black Knight reminds that this type of change is typical at the beginning of each month as service... (read more) Mortgage Rates Mortgage Rates Catch a Break, But Will It Last? 30 Yr. Fixed Rate 6.82% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% +0.03 0.00 15 Yr. Fixed 6.03% +0.04 0.00 30 Yr. FHA 6.35% +0.05 0.00 30 Yr. Jumbo 6.90% +0.03 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.37% +0.06 0.00 Updates Daily - Last Update: 7/11 15 Yr. Fixed Rate 6.03% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries MBS Live Recap: Drifty Day, Treasuries Hold Weekly Gains, MBS Underperform. UMBS 30YR 5.5 99.33 -0.14 Price / Yield Change MBS UMBS 5.5 99.33 -0.14 UMBS 6.0 101.23 -0.03 GNMA 5.5 99.66 -0.18 GNMA 6.0 101.31 -0.07 Pricing as of: 7/12 5:14AM EST 10 Year US Treasury 4.4083 +0.0615 Price / Yield Change US Treasury 2 YR Treasury 3.901 +0.024 5 YR Treasury 3.971 +0.036 7 YR Treasury 4.179 +0.053 10 YR Treasury 4.408 +0.062 30 YR Treasury 4.955 +0.085 Pricing as of: 7/12 5:14AM EST Latest Video Consumer sentiment can be down for a variety of reasons When will the Fed act on inflation? Rocket Mortgage CEO Jay Farner on the company's Q2 earnings Fed appears likely to announce 'taper' during September meeting Around the Web Calculated Risk Blog Boston Real Estate in July: Sales Up 14% YoY, Inventory Down 23% YoY CNBC Jobs are still down 22% for low-wage workers. They're up for everyone else Calculated Risk Blog Housing Inventory August 16th Update: Inventory Increased Week-over-week, Up 38% from Low in early April Redfin Homebuyer Bidding-War Rate Drops to Lowest Level Since January CNBC Treasury yields start the week lower with Fed meeting minutes in focus CNBC There's growing support within the Fed to announce the tapering of bond purchases in September CNBC CDC panel unanimously recommends Covid vaccine booster shots for vulnerable Americans Calculated Risk Blog Early Q3 GDP Forecasts: Around 6% to 7% with "Significant downside risk" CNBC U.S. Supreme Court strikes down part of New York's eviction ban Redfin Housing Market Update: Balance is Slowly Returning as Homebuying Demand Moderates Calculated Risk Blog San Diego Real Estate in July: Sales Down 4% YoY, Inventory Down 42% YoY CNBC Markets no longer fear inflation and stocks will continue to rally, HSBC says CNBC Treasury yields fall following mixed economic data

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