A current post in Freddie Mac's Insight blog looks again at the decline in homeownership among young adults and tries to determine the role played by rising housing costs. The post is based on recent research by the company's Economic and Housing Research Group headed by Chief Economist Sam Khater. Adults in the age group usually categorized as Millennials (25 to 34) have deferred homebuying as higher prices push it further into the future. The weakening affordability is particularly hard on first-time homebuyers because prices increase the fastest among the lower-priced homes they would typically buy. At the same time, these young adults, who comprise a large share of first-time buyers, are excluded from the benefits of rapidly rising home values. "Unable to buy, many young adults have continued

June 29, 2018 Download our Mobile App: Download our Mobile App: Housing News Housing Costs Take the Most Blame for Millennial Homeownership Gap A current post in Freddie Mac's Insight blog looks again at the decline in homeownership among young adults and tries to determine the role played by rising housing costs. The post is based on recent research by the company's Economic and Housing Res... (read more) Housing News Affordability Perceptions: Consumers Weigh in on Rent vs. Own Housing inventory shortages, lack of new construction, and the not-unrelated issues of rising prices and falling measures of affordability have been major topics of discussion and analysis for several years. Fannie Mae included some special questions... (read more) Rob Chrisman Tax and MI Products; Sample of Vendor Updates; Hedging Long-Term Locks Here’s something that’s kind of interesting. Half of all zero net energy homes have been built in California . “Cali,” a nickname despised by residents, has bold goals for all residential new construction to achieve ZNE (zero ... (read more) MBS Commentary MBS Live Day Ahead: Still Vetting The Big-Picture Shelf. Still Waiting For Next Move With each passing day this week, bonds do more to prove that the low yields achieved during the Italian panic were more than the mere byproduct of a safe-haven snowball rally.  We saw intraday lows just over 2.82% on Wednesday.  these line ... (read more) Mortgage Rate Watch Mortgage Rates Flatten Back Out Mortgage rates haven't been too interested in making big moves recently. Today was no exception. In fact, most lenders' rate quotes would be indiscernible from yesterday's. The absence of movement could be good or bad , depending on your perspective.... (read more) MBS Commentary MBS Live Recap: Bonds Remain in Good Shape Despite Modest Weakness Referring to today as "modestly" weaker is a debatable choice.  On the one hand, trading levels hit the 3pm close in modestly weaker territory.  No argument there!  On the other hand, in the absence of yesterday, those would have ... (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 99.50 -0.01 Price / Yield Change MBS UMBS 5.5 99.49 -0.02 UMBS 6.0 101.35 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 8:40AM EST 10 Year US Treasury 4.3574 +0.0114 Price / Yield Change US Treasury 2 YR Treasury 3.846 +0.017 5 YR Treasury 3.901 +0.016 7 YR Treasury 4.113 +0.015 10 YR Treasury 4.361 +0.015 30 YR Treasury 4.930 +0.013 Pricing as of: 7/23 8:40AM EST Latest Video Rising risks to real estate in Baton Rouge El-Erian: Key issue for European banks remains government bonds Fed's stress tests are not that hard to pass, says Mohamed El-Erian Around the Web Bloomberg ETF Buyers Go for Shorter-Duration Bonds as the Yield Curve Flattens Bloomberg How Monetary Policy Suddenly Became Controversial Calculated Risk Blog Earlier: Chicago PMI Increased in June CNBC The Fed has met its inflation target. Now what? Reuters Trump may nominate top court pick before July 10: White House official Bloomberg Draghi Warns Risks From Trade War May Be Understated Calculated Risk Blog Q2 GDP Forecasts CNBC Consumer sentiment hits 98.2 in June, vs. expectations for 99.2 ecb.europa.eu Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates) blog.stewart.com Forecasts: Residential Refinance & Purchase Lending, 30-Year Conventional Mortgage Rates, Home Sales June 2018 NAHB Eye on Housing More States See Job Gains in May consumerfinancemonitor.com Senate Banking Committee to hold July 12 and 19 hearings on Kraninger nomination, credit reporting agencies Calculated Risk Blog Personal Income increased 0.4% in May, Spending increased 0.2%

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