Is homeownership still the American Dream? Should it be? An article published in the Journal of Economic Perspectives argues while the former has long been the case, one strongly supported by government policy, that has changed. Now there is a growing school of thought that the focus should shift toward other aspects of upward mobility. As the recent changes in the tax code might indicate, government policy is shifting with it, towards a view that homeownership may not be for everyone. The article, written by Laurie Goodman, Vice President of the Urban Institute's Housing Finance Policy Center, and Christopher Mayer, Paul Milstein Professor of Real Estate, at Columbia University, examines US homeownership from three different perspectives. The international perspective compares rates in this

February 14, 2018 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 Feb 14, 2018 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 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Day Ahead: Time For CPI (And The Potentially Big Reaction) Wed, Feb 14, 2018 8:32AM CPI has been a big deal since last May.  That's when more than a year of higher, more stable Core CPI first began slipping under 2.0%.  Bond markets reacted with a noticeable rally in response.  When Core CPI fell further in June, the ... (read more) MBS Live Recap: Bonds Win Without Help From Stocks, But There's a Catch Tue, Feb 13, 2018 4:29PM Today was "nice" in the highly charged sense of the word where it's meant to convey a certain acceptability and a certain absence of excellence .  Bonds didn't weaken in any disconcerting way.  They even managed to make some gains--both at the open and heading into the last hour of the day--all without any help from the stock market during domes... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Are Americans and Their Government Undervaluing the American Dream? Wed, Feb 14, 2018 12:19PM Is homeownership still the American Dream? Should it be? An article published in the Journal of Economic Perspectives argues while the former has long been the case, one strongly supported by government policy, that has changed. Now there is a growing school of thought that the focus should shift toward other aspects of upward mobility. As the recent changes... (read more) Mortgage Bankers Association Predicts Sharp Increase in New Home Sales Wed, Feb 14, 2018 9:33AM The Mortgage Bankers Association (MBA) is forecasting a sizable jump in new home sales in January. Based on responses to its Builder Application Survey (BAS), MBA estimates that applications for the purchase of newly constructed homes rose 18.4 percent compared to those during the previous January and were up 34 percent from December. The change is not adjus... (read more) Purchase Mortgage Applications Lose Steam as Rates Rise Wed, Feb 14, 2018 9:10AM Purchase mortgage applications, after starting out strong at the beginning of the year, stalled for the third straight time last week, bringing overall activity down. The Mortgage Bankers Association (MBA) reports that its Market Composite Index, a measure of the volume of applications received, had its worst performance since mid-December. The index for the... (read more) New Association in Business; Radian Changes; Flagstar's Ginnie Response Wed, Feb 14, 2018 9:19AM Two men are sitting in a bar when Mark Zuckerberg walks in. One of the men says to his friend, “This is awesome! On average, everyone in this bar is worth $20 billion!” It’s important to remember the difference between “mean” and “average.” Now, apparently, in the most expensive housing markets in the country, a $1 m... 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