Builder confidence took a steep dive this month, reflecting increasing news of slowing home sales and rising concerns over affordability. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), a joint project of NAHB and Wells Fargo, dropped eight points. The index, which has been floating in the 67 to 70 range since March, had a November level of 60, the lowest since July 2016. NAHB Chairman Randy Noel said, "Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices." "For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction," said NAHB Chief Economist

November 19, 2018 Download our Mobile App: Download our Mobile App: Housing News After a Steady Run, Builder Confidence Finally Folds Builder confidence took a steep dive this month, reflecting increasing news of slowing home sales and rising concerns over affordability. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), a joint project of NAHB an... (read more) Rob Chrisman Lehman Litigation Webinar; Upcoming Events and Training; New Products Thanksgiving means many things to many people: family time, a half day of work Wednesday, or a four-day weekend. To the staff and students of Johns Hopkins, they are thankful for the gift from Michael Bloomberg, class of 1964, of $1.8 billion (with a... (read more) MBS Commentary MBS Live Day Ahead: Slow Holiday Trading Unless These Key Levels Break Happy Thanksgiving week.  These can go a few different ways for bond markets with 2 main varieties standing out.  Both varieties are the product of illiquidity (fewer buyers and sellers at any given price point).  In the first case, ... (read more) Mortgage Rate Watch Mortgage Rates Lowest in a Month Mortgage rates hit their lowest levels of THE month yesterday, and the lowest levels in A month today. It's a bit of a technicality, really. As of yesterday, there were a few days in mid-to-late October that saw lower rates. Today's drop means we'd n... (read more) Housing News New Home Sales, Prices Faded in October The Mortgage Bankers Association (MBA) notes that applications for the purchase of new homes declined by 2.1 percent in October compared to the same month in 2017. Those applications were also 11 percent lower than in September. The information, take... (read more) MBS Commentary MBS Live Recap: New Fed Vice Chair Helps Rates and Stocks We haven't heard much out of new Fed Vice Chair Richard Clarida since he accepted the position, but what we heard today was good.  Well, at least the bond market reaction was good.  His comments ended up setting the tone for the day. So... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.77% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.77% -0.01 0.00 15 Yr. Fixed 6.03% -0.01 0.00 30 Yr. FHA 6.35% 0.00 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.36% 0.00 0.00 Updates Daily - Last Update: 7/22 15 Yr. Fixed Rate 6.03% -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 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.49 -0.02 Price / Yield Change MBS UMBS 5.5 99.50 -0.01 UMBS 6.0 101.36 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.28 -0.04 Pricing as of: 7/23 8:20AM EST 10 Year US Treasury 4.3649 +0.0189 Price / Yield Change US Treasury 2 YR Treasury 3.843 +0.014 5 YR Treasury 3.897 +0.011 7 YR Treasury 4.109 +0.011 10 YR Treasury 4.357 +0.011 30 YR Treasury 4.927 +0.010 Pricing as of: 7/23 8:20AM EST Latest Video Closing Bell Exchange: Interest rates most likely have peaked Santelli Exchange: Have rates peaked for the year? Homebuilder confidence plummets to the lowest level in more than 2 years Around the Web Bloomberg Fed Study of Labor Participation Finds US at Full Employment CNBC Fed doesn't seem in as much of a rush to raise interest rates as stocks plunge Calculated Risk Blog California Bay Area Home Sales Decline 8% YoY in October, Inventory up 21% YoY Reuters A key Fed official stays the course on U.S. rate hikes amid growing doubts Calculated Risk Blog Sacramento Housing in October: Sales Down 4.8% YoY, Active Inventory up 21% YoY Bloomberg Bond Traders Face More Volatility as Fed Uncertainty Increases Brookings Institution Americans aren't moving to economic opportunity CNBC Goldman Sachs believes the US economy will slow to a crawl next year Reuters Germany's Weber says draft Brexit deal will not be renegotiated Bloomberg Corporate America's Debt Boom Looks Like a Bust for the Economy Calculated Risk Blog Existing Home Sales for October: Take the Over CNBC Slumping home prices are creating a buyers market in luxury homes Reuters A vote reversed: What is the path back from Brexit?

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