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: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Apr 27, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.64 -0.08   95.05 99.96 UMBS 30YR 5.5 101.07 -0.02   97.47 101.28 10 YR Treasury 4.041 +0.011   3.932 4.780 MBS Live Day Ahead: Bond Markets Asks: Should I Stay or Should I Go? Thu, Apr 27, 2017 9:06AM 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) MBS Live Recap: Bonds Bounce Back Before and After Tax Plan Wed, Apr 26, 2017 5:14PM 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) MBS Price Change UMBS 4.5 97.68 -0.08 UMBS 5.0 99.65 -0.08 UMBS 5.5 101.06 -0.03 GNMA 4.5 97.68 -0.06 GNMA 5.0 99.68 -0.26 GNMA 5.5 100.86 -0.07 Pricing as of: 10/16 10:28AM EST US Treasury Yield Change 2 YR Treasury 3.507 +0.006 5 YR Treasury 3.628 +0.008 7 YR Treasury 3.814 +0.010 10 YR Treasury 4.042 +0.012 30 YR Treasury 4.635 +0.009 Pricing as of: 10/16 10:28AM EST Other News Painfully Low Inventory Saps Pending Home Sales Thu, Apr 27, 2017 10:28AM 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... (read more) Another Plan Emerges for Fannie/Freddie Reform Wed, Apr 26, 2017 5:15PM 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) Fannie Mae and Freddie Mac. This week ICBA, which represents independent community banks, more quietly released i... (read more) CoreLogic Expects Reauthorization, Maybe Even Reform, of Flood Insurance Program Wed, Apr 26, 2017 5:14PM 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, Senior Vice President for Government and Industry Relations, addresses the status of NFIP as Congress looks at re... (read more) Vendor Updates; Servicing: Who's Brokering, Buying, Selling, and Why? Thu, Apr 27, 2017 10:20AM 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 December 2016 interest rate hike. Really? How about because not a lot of 26-year-olds have saved up the money for a... (read more) 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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