Headstrong is a rather interesting word, but the National Association of Realtors® (NAR) chose it to describe the continuing imbalance between supply and demand in the housing market. NAR blames this imbalance for slightly tempering home sales as well as pushing continued robust price growth in the second quarter of 2017. NAR says the national median existing single-family home price in the second quarter rose 6.2 percent from the same quarter in 2016, an increase from $240,700 to $255,600. This is a slight moderation from the 6.9 percent year-over-year price growth logged in the first quarter of this year, but the most recent median price still set a new peak , surpassing Q3 2016's median of $241,300. NAR says single-family home prices increased compared to the same quarter of 2016 in

August 16, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 16, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: How Much Might Today's Fed Minutes Matter? Wed, Aug 16, 2017 9:32AM Today's biggest calendar item is the release of the FOMC Minutes at 2pm.  The Minutes provide synopsis of the meeting that took place in the 2 days leading up to the official Fed announcement in late July.  That announcement was very little changed from the previous announcement, but the Fed did take the opportunity to telegraph September's widely ... (read more) MBS Live Recap: Bonds Threaten Momentum Shift Tue, Aug 15, 2017 4:15PM Today was mostly about North Korean de-escalation, and somewhat about stronger economic data.  If you haven't heard 43 times already, North Korea graciously decided to hold off on their little plan to nuke Guam (though the little plan of marching up and down the square remains intact for now).  Considering that nuking Guam (or more likely, "attem... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:04AM EST US Treasury Yield Change 2 YR Treasury 3.500 +0.012 5 YR Treasury 3.576 +0.015 7 YR Treasury 3.785 +0.017 10 YR Treasury 4.062 +0.022 30 YR Treasury 4.720 +0.030 Pricing as of: 9/9 7:04AM EST Other News Pitiful Housing Supply Slighted Dampened Q2 Home Sales Wed, Aug 16, 2017 10:57AM Headstrong is a rather interesting word, but the National Association of Realtors® (NAR) chose it to describe the continuing imbalance between supply and demand in the housing market. NAR blames this imbalance for slightly tempering home sales as well as pushing continued robust price growth in the second quarter of 2017. NAR says the national median exi... (read more) Construction Indicators Slide, Housing Starts Suffer Wed, Aug 16, 2017 9:54AM After posting unexpectedly high numbers in June, all three residential construction indicators lost ground in July , and one, housing starts, is now running below its year-ago rate. While the softening is primarily in the multi-family sector, starts have declined in four of the last five months and permits in three of the last four. The U.S. Census Bureau an... (read more) Purchases Drag Down Mortgage Application Volume Wed, Aug 16, 2017 8:17AM A decline in applications for home purchases nearly overwhelmed the gain made by refinancing activity during the week ended August 11. The Mortgage Bankers Association reported that its Market Composite Index, a measure of application volume, managed to increase a meager 0.1 percent on a seasonally adjusted basis when compared to the previous week. The unadj... (read more) More and More eClosings; Credit Score Trends: 850 FICO a Goal? Wed, Aug 16, 2017 8:33AM I’ve only been in this business since the mid-80s, and as a capital markets person always find it amusing when an owner says, “If it wasn’t for TBA pair off costs, we would REALLY be making money!” For the antithesis of making money, on this date 10 years ago news broke that First Magnus...well... didn't make money. (And just look at ... (read more) Latest Video Recap: Trump abruptly ends manufacturing council FED: Concerned about inflation & rate hikes Trump tweets about ending Manufacturing Council, Strategic & Policy forum Around the Web Reuters Fed's Mester says U.S. rate hikes should continue despite weak inflation Calculated Risk Blog NY Fed: "Household Borrowing Grows Modestly; Credit Card Delinquencies Rise" Reuters Fed policymakers grow more worried about weak inflation: minutes Federal Reserve Minutes of the Federal Open Market Committee, July 25-26, 2017 Reuters Trump says ending two CEO advisory panels: tweet NAHB Eye on Housing New Single-Family Home Size Trends Lower NAR - Realtor.com Every Region of U.S. Sees Fewer New Homes Hitting the MarketExcept One Market Watch Fed's Fischer calls Trump-led rollback of Wall Street regulations mind-boggling' Calculated Risk Blog Comments on July Housing Starts consumerfinancemonitor.com CFPB warns consumers about debt relief/settlement companies; Ballard to hold Nov. 9 webinar feedproxy.google.com Home Prices Jump 6.2 Percent in Second Quarter; Eclipse 2016 High CNBC US stocks open higher as Wall Street braces for the release of Fed meeting summary CNBC US housing starts, permits fall unexpectedly in July

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