New home sales pulled out a slight month-over-month gain in June only because estimates of sales in May were revised down. The U.S. Census Bureau and the Department of Housing and Urban Development said today that sales of newly constructed homes were at a seasonally adjusted annual rate of 610,000 units. This was an increase of 0.8 percent from the revised rate of 605,000 units in May, sales that were originally estimated at 610,000. The June rate is 9.1 percent ahead of the 559,000-unit pace in June 2016. Analysts had projected the June sales number over a wide range, from 590,000 to 630,000 units. The consensus of those polled by Econoday was 611,000. On a non-seasonally adjusted basis there were 55,000 homes sold during the month, compared to 57,000 in May and 50,000 a year earlier. The

July 26, 2017 Download our Mobile App: Download our Mobile App: Housing News New Homes Sales Fall Short of Expectations New home sales pulled out a slight month-over-month gain in June only because estimates of sales in May were revised down. The U.S. Census Bureau and the Department of Housing and Urban Development said today that sales of newly constructed homes wer... (read more) MBS Commentary MBS Live Day Ahead: Why Today Could Matter: A Lesson From an Old Fed Announcement Remember 2015?  The Fed spent the whole year talking about hiking rates for the first after spending years at 0% and ultimately didn't get around to it until December.  But perhaps the most interesting phrase in any of the year's Fed anno... (read more) Rob Chrisman Lender M&A, Bank Mortgage News; FHA and Cybersecurity We’re in the midst of state fair season, and with it all the wonderful organic health food. Have you tried deep fried butter? Have a hankering for fried beer? Always wanted to try Wisconsin’s “Fat Elvis on a Stick” or the king... (read more) Housing News Refi Applications Strengthened on Last Week's Lower Rates A decline in purchase mortgage applications cancelled out most of a moderate increase in refinancing during the week ended July 21. Nonetheless, the Mortgage Bankers Association said its Market Composite Index eked out a slight gain. The Index was up... (read more) MBS Commentary MBS Live Recap: For Bonds, Worst Day Since Late June ECB Scare Bonds sold off aggressively today, for a combination of reasons that are tremendously unsatisfying in a traditional market-watching sense.  For example, it would be nice if we could point to something tidy and logical like all-time high stock ... (read more) MBS Commentary MBS Live Commentary: Differences Between Current and Previous FOMC Statements (Additions underlined, deletions struck through) Information received since the Federal Open Market Committee met in May June indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so fa... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.35 -0.16 Price / Yield Change MBS UMBS 5.5 99.38 -0.13 UMBS 6.0 101.28 -0.11 GNMA 5.5 99.60 -0.17 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 1:17PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.872 +0.042 5 YR Treasury 3.927 +0.042 7 YR Treasury 4.142 +0.044 10 YR Treasury 4.387 +0.041 30 YR Treasury 4.955 +0.039 Pricing as of: 7/23 1:17PM EST Latest Video Expert: Fed fires 'shot across the bow' on balance sheet reduction Fed leaves rates, balance sheet policy unchanged Trump: Cohn, Yellen are contenders for Federal Reserve chair Around the Web Gallup Older Americans Buck Trend of Decreased Homeownership Bloomberg The Best Way to Increase Housing Supply? Build More Market Watch Dollar turns negative after Fed statement CNBC Fed leaves rates unchanged Freddie Mac Freddie Mac: Multifamily Market Will Continue to Grow, Hitting Records in 2017 consumerfinancemonitor.com Trade associations urge Congress to disapprove CFPB arbitration rule CNBC The Fed is about to make a major policy change. Here's how it works Calculated Risk Blog A few Comments on June New Home Sales consumerfinancemonitor.com House passes H.J. Res. 111 to override CFPB arbitration rule CNBC Op-ed: Elitist approach to housing will harm an entire generation of families CNBC The biggest bond ETF provider says business may double in next five years Reuters D.R. Horton profit rises on higher home sales CNBC JPMorgan points to low risk of a US housing correction

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