The U.S. homeownership rate ticked up by 0.1 percentage point in the second quarter of 2017, to 63.7 percent. The rate, which trended down for several years prior to the Great Recession and then steadily thereafter, hit what is hoped will be its cyclical low in the second quarter of 2016, 62.9 percent. Prior to the downturn, the rate peaked twice in 2004 at 69.2 percent. The U.S. Census Bureau says there is some seasonality in the homeownership rate, and when adjusted to reflect that, the most recent number is 63.9 percent, 0.8 percentage points higher than the second quarter of 2016 but not statistically different from the first quarter of this year. Homeownership is highest in the Midwest at 68.0 percent, and lowest in the West at 58.9 percent. The rate rose slightly from quarter to quarter

July 28, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jul 28, 2017 Mortgage Rates Not Exactly Lower This Week Thu, Jul 27, 2017 3:25PM Mortgage rates were mixed today, depending on the lender, but generally held fairly close to yesterday's levels. All this in spite of bond market weakness (which normally pushes rates higher). The discrepancy can be chalked up to a delay between market movements and lenders' reactions that's been increasingly prevalent during the summer months. In other words, lenders still hadn't fully responded to yesterday's bond market strength and were thus able to absorb today's weakness in many cases. On a more interesting and perhaps more important note for confused mortgage rate shoppers, today is Thu... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.69 +0.11   95.05 100.47 UMBS 30YR 5.5 101.14 +0.11   97.47 101.61 10 YR Treasury 4.071 -0.010   3.643 4.780 MBS Live Day Ahead: Revisiting "Month-End Bond Buying," Plus a Look at The Current Trend Fri, Jul 28, 2017 10:05AM We often talk about the month-end trading environment as relatively more supportive for bond markets--all other things being equal.  Reason for this are explained in THIS PRIMER, but here's the gist.   Let's say you're a money manager ... (read more) MBS Live Recap: 2nd Straight Day Inside Tuesday's Range Thu, Jul 27, 2017 4:41PM This week continues to be all about Tuesday for bond markets.  That was the day with the rather violent, inexplicable sell-off that took yields from 2.25 to 2.34 approximately.  Even with econ data, a Treasury auction and the Fed announcement yesterday, yields remained well inside Tuesday's range.  Today was narrower still--especially d... (read more) MBS Price Change UMBS 4.5 97.71 +0.08 UMBS 5.0 99.70 +0.11 UMBS 5.5 101.15 +0.12 GNMA 4.5 98.10 +0.08 GNMA 5.0 99.99 +0.17 GNMA 5.5 101.02 +0.13 Pricing as of: 9/17 11:41PM EST US Treasury Yield Change 2 YR Treasury 3.536 -0.027 5 YR Treasury 3.633 -0.023 7 YR Treasury 3.819 -0.020 10 YR Treasury 4.068 -0.013 30 YR Treasury 4.669 -0.019 Pricing as of: 9/17 11:41PM EST Other News Millennial Homeownership Ticked Up in Q2 Fri, Jul 28, 2017 11:46AM The U.S. homeownership rate ticked up by 0.1 percentage point in the second quarter of 2017, to 63.7 percent. The rate, which trended down for several years prior to the Great Recession and then steadily thereafter, hit what is hoped will be its cyclical low in the second quarter of 2016, 62.9 percent. Prior to the downturn, the rate peaked twice in 2004 at ... (read more) Freddie Mac: Why We are Building So Few Houses? Fri, Jul 28, 2017 9:29AM Freddie Mac's Outlook this month looks at what it calls "the spoiler," the lean inventory of newly constructed homes for sale. While the situation isn't quite as dire as with existing homes, where there is a 4.3-month supply, the new home inventory is just over a 5 month supply and, Freddie Mac's economists point out, it is much tighter in hot local markets.... (read more) $14bn InterFirst Shuts Down; Servicing Deals; Goodbye LIBOR Fri, Jul 28, 2017 9:18AM We’re a couple months into the North Atlantic hurricane season which lasts to November 30. It has been 12 years since the US was struck by a major hurricane (Category 3 or higher), but that doesn’t stop the U.S. Census Bureau from producing statistics that are critical to emergency planning and preparedness, and these stats reveal the growth in p... 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