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Applications for new home purchase mortgages slowed significantly in April when compared to March the Mortgage Bankers Association (MBA) said on Thursday. Its Builder Applications Survey (BAS) data shows the volume of applications declined 5 percent month-over-month, but remained 7.5 percent higher than during the previous April. The reported changes do not include any adjustments for typical seasonal patterns. Based on the BAS report of applications, assumptions regarding market coverage, and other factors, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 656,000 units in April. This estimate represents a decrease of 3.8 percent from the March pace of 682,000 units. On an unadjusted basis, the MBA estimates that there were 63,000 new home
Housing News
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Applications for new home purchase mortgages slowed significantly in April when compared to March the Mortgage Bankers Association (MBA) said on Thursday. Its Builder Applications Survey (BAS) data shows the volume of applications declined 5 percent ... (read more)
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Mortgage Rate Watch
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Mortgage rates bounced back today, following a weaker-than-expected report on inflation and a relatively strong 30yr bond auction. Rising inflation means that bond investors will receive future payments that won't buy as much as those same dollars wo... (read more)
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Rob Chrisman
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Amazon, Google , Apple, Uber (largest food delivery system in the world) taking over the world? Perhaps, especially if we’re willing to give it to them. I mention this because Amazon just inked a partnership deal with Lennar Homes to put its Al... (read more)
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MBS Commentary
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Today begins with a modestly weaker CPI (consumer price index) report generating an impressive surge in volume. In fact, the volume in the minute following the CPI release was roughly double that seen in the minute following the last NFP report... (read more)
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MBS Commentary
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Today's key event for bonds was the 10yr Treasury auction because it served as an acid test for investor demand amid relatively uncertain times. Unfortunately, the auction was solid, but not so solid as to suggest bond traders had miscalculat... (read more)
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MBS Commentary
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With two big-ticket events on tap for bond markets today, there was always a chance that they'd go our way and that we'd see some decent gains as a result. Thankfully, that happened.
In fact, bonds were already moderately stronger before th... (read more)
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