Although home affordability is high, relative to pre-crisis levels, the rate at which their prices are increasing is cause for concern. Andrew LePage, CoreLogic Professional in Research Analysis, says the role of rising interest rates should not be overlooked; they can affect affordability more than home price appreciation. Household incomes have not been keeping up with rising home prices, but the persistently low interest rates have mitigated some of the impact . But LePage asks, what will happen now that rates are trending higher again? One way to measure how inflation, interest rates, and home prices impact affordability is "the typical mortgage payment." This is an interest rate-adjusted monthly payment derived each month using the median national home sale price and the Freddie Mac average

August 17, 2017 Download our Mobile App: Download our Mobile App: Housing News CoreLogic - Don't Overlook Rates in Affordability Discussions Although home affordability is high, relative to pre-crisis levels, the rate at which their prices are increasing is cause for concern. Andrew LePage, CoreLogic Professional in Research Analysis, says the role of rising interest rates should not be o... (read more) Housing News Refis Enjoy Nice Bounce Thanks to Lowered Rates There is still life left in refinancing. While at nowhere near the levels of a few years ago, Ellie Mae's Origination Insight Report for July reported that the percentage of loans that were for refinancing increased by three points to 35 percent . Th... (read more) Rob Chrisman State-Level Licensing Law Changes; TRID-Related Process Changes What will buildable land in Las Vegas set you back? The math is pretty easy: Toll Brothers has acquired 10 acres of vacant land at a once-bankrupt Summerlin condo complex for $10.3 million. But that is just the start of expenses, right? In neighborin... (read more) MBS Commentary MBS Live Day Ahead: Trader Ghost Town Greases Skids For Volatility With this morning's econ data already out and having no effect on bond markets, the only other report for the week is tomorrow morning's Consumer Sentiment--admittedly not the biggest market mover in the world.  The backdrop for any potential vo... (read more) Mortgage Rate Watch Mortgage Rates Back to 2017 Lows on Trump Tweet Mortgage rates dropped today after news broke (first rumors, then confirmation via Twitter) that President Trump was disbanding his councils of CEOs. The move apparently came in response to attrition among several CEOs following Trump's press confere... (read more) MBS Commentary MBS Live Recap: Bonds Rallied on Trump Tweet Before it Ever Came Out Today looked like it would be all about waiting for the Fed Minutes to see if there were any surprises.  That plan began in fairly good shape, with only a mild rally following weaker residential construction data.  By mid-day, bonds were st... (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 99.41 -0.10 Price / Yield Change MBS UMBS 5.5 99.35 -0.16 UMBS 6.0 101.27 -0.12 GNMA 5.5 99.61 -0.17 GNMA 6.0 101.25 -0.08 Pricing as of: 7/23 1:06PM EST 10 Year US Treasury 4.3758 +0.0298 Price / Yield Change US Treasury 2 YR Treasury 3.876 +0.047 5 YR Treasury 3.931 +0.046 7 YR Treasury 4.145 +0.047 10 YR Treasury 4.390 +0.044 30 YR Treasury 4.957 +0.040 Pricing as of: 7/23 1:06PM EST Latest Video Kocherlakota: Yellen should refuse reappointment Industrial production up 0.2% Initial jobless claims drop 12K to 232,000 Around the Web Freddie Mac Freddie Mac August 2017 Outlook Market Watch Wall Street's 'fear gauge'--the VIX--jumps 23% amid falling Dow, Barcelona terror attack builderonline.com Million-Dollar Neighborhoods Proliferate consumerfinancemonitor.com CFPB issues reports on student loan repayment and repayment assistance programs CNBC White House: Rumors of Gary Cohn's resignation '100% false' Freddie Mac Freddie Mac Statement on HARP Extension and Modifications to Forthcoming High LTV Refinance Program Calculated Risk Blog Earlier: Philly Fed Manufacturing Survey "region continued to advance" in August Redfin Home Sales Fell 3.5 Percent in July, the 22nd Consecutive Month to Post an Inventory Decline Freddie Mac Mortgage Rates Drop Again Market Watch Outside the Box: Crowdfunded real-estate investments Calculated Risk Blog Industrial Production Increased 0.2% in July CNBC Schwarzman and CEOs dispute Trump's account of who disbanded their policy forum Reuters U.S. jobless claims fall to near six-month low

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