Is there mostly good news in the negative number for March pending home sales? The National Association of Realtors says yes. The NAR's Pending Home Sales Index (PHSI) dipped by 0.8 percent to 111.4 in March from 112.3 in February but NAR says, while this was a slight decrease in momentum, "pending home sales maintained their recent high level." The index is remains 0.8 percent higher than a year ago. The PHSI is a forward-looking indicator based on signed contracts to purchase existing homes. Those contracts are generally expected to result in closed sales within 60 days. The downturn was not unexpected. Pending home sales have moved up and down regularly in recent months, pretty accurately predicting, as they are designed to do, the see-saw behavior of existing home sales. Econoday's poll

April 27, 2017 Download our Mobile App: Download our Mobile App: Housing News Painfully Low Inventory Saps Pending Home Sales Is there mostly good news in the negative number for March pending home sales? The National Association of Realtors says yes. The NAR's Pending Home Sales Index (PHSI) dipped by 0.8 percent to 111.4 in March from 112.3 in February but NAR says, while... (read more) Rob Chrisman Vendor Updates; Servicing: Who's Brokering, Buying, Selling, and Why? In a recent survey, 97% of millennials said that they were tired of being surveyed. Seriously, well that probably is seriously, according to a new TransUnion survey , 42% of millennials (born 1982-2000) are delaying buying a home because of the Decem... (read more) MBS Commentary MBS Live Day Ahead: Bond Markets Asks: Should I Stay or Should I Go? Another day, another chance for bond markets to assess whether they should re-enter the previous 2017 range (or "post-election" range).  This is marked by 10yr yields of roughly 2.3-2.6%, but given that we're so close to one of the range bound... (read more) Housing News Another Plan Emerges for Fannie/Freddie Reform Last week, with considerable fanfare , the Mortgage Bankers Association released its plan for reforming the housing finance system, including a resolution of the nine-year old federal conservatorship of the government sponsored enterprises (GSEs) Fan... (read more) Housing News CoreLogic Expects Reauthorization, Maybe Even Reform, of Flood Insurance Program Although it features a rather shameless pitch to play a major role in a reorganized National Flood Insurance Program (NFIP), CoreLogic has published, in its Insights blog, some reassurance for homeowners living in flood-prone areas. Stuart Pratt, Sen... (read more) MBS Commentary MBS Live Recap: Bonds Bounce Back Before and After Tax Plan Today's main event was the release of the Trump administration's new tax plan.  Markets didn't go overboard in their expectations of major revelations and excruciating details.  That turned out to be an ideal approach as there weren't any... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 +0.06 Price / Yield Change MBS UMBS 5.5 99.91 +0.06 UMBS 6.0 101.61 +0.05 GNMA 5.5 100.05 +0.09 GNMA 6.0 101.46 +0.05 Pricing as of: 7/3 3:05AM EST 10 Year US Treasury 4.2641 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.018 5 YR Treasury 3.849 -0.018 7 YR Treasury 4.036 -0.020 10 YR Treasury 4.262 -0.018 30 YR Treasury 4.788 -0.021 Pricing as of: 7/3 3:05AM EST Latest Video No overriding reason to shut down the government: Expert Rieder: Fed is still on its tightening path El-Erian: To sustain market move, need tax details and implementation Around the Web NAR - Realtor.com Working From Home? Real-Estate Developers Are Here to Help Calculated Risk Blog HVS: Q1 2017 Homeownership and Vacancy Rates CNBC Trump's tax plan alone won't get him the 3% economic growth he hopes for, Mohamed El-Erian warns Reuters Atlanta Fed cuts first-quarter GDP growth view to 0.2 percent Bloomberg Fannie and Freddie, Back in the Black Freddie Mac Mortgage Rates Increase After Weeks of Decline CNBC US weekly jobless claims total 257,000 vs 242,000 estimate CNBC US durable goods orders rose 0.7% in March vs. 1.2% increase expected Market Watch Why Trump should have ditched the mortgage-interest deduction Redfin Luxury Housing Market Off to a Strong Start in 2017 CNBC White House's Mulvaney says tax plan was intentionally vague Market Watch ECB leaves rates unchanged, reiterates asset-purchase plans Freddie Mac Freddie Mac Issues Monthly Volume Summary for March 2017

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