It is the largest generation in U.S. history and Millennials may also set a record as the one whose behaviors have been most heavily researched. Despite the hours of study and pails of ink, the direction the generation's members will ultimately take in their lives still has the nation a bit flummoxed. This may especially be true of their decisions about shelter. The Urban Institute (UI) just completed another large study on young adults born between 1981 and 1997. That, compared to earlier generations, they are more tech-savvy, racially and ethnically diverse, better educated, and marry later in life, explains some but not all of their performance to date as homeowners. The UI team* finds that the 37 percent rate of homeownership within the generation in 2015 was lower than both of the preceding

July 18, 2018 Download our Mobile App: Download our Mobile App: Housing News Millennial Homeownership Headwinds Worrisome for Future It is the largest generation in U.S. history and Millennials may also set a record as the one whose behaviors have been most heavily researched. Despite the hours of study and pails of ink, the direction the generation's members will ultimately take ... (read more) Housing News Housing Permits Soften, Starts Plummet All three measures of residential construction activity performed poorly in June , and the two most closely watched numbers, construction permits and housing starts, fell short of their June 2017 numbers. Despite the monthly and year-over-year declin... (read more) MBS Commentary MBS Live Day Ahead: Bonds Increasingly Threatened by Momentum Shift; Powell Part 2 Fed Chair Powell will deliver round 2 of his congressional testimony today, this time at the House FSOC (yesterday was with the Senate Banking Committee).  There's no reason to expect today's House session to be any more of a market mover than y... (read more) Housing News Mortgage Applications: Decline in Purchases Offset by Refinance Gains. Refinancing made a tiny bit of a comeback during the week ended July 13. Both the Refinancing Index, a component of the Mortgage Bankers Associations (MBAs) Market Composite Index, and the share of applications that were for refinancing regained some... (read more) Rob Chrisman Pricing, Efficiency, and Operations Products; California DRE Changes “Your loan officer should be given the opportunity to succeed elsewhere.” Ever heard a CEO recommend that to a branch manager regarding a poorly performing LO? Here in San Francisco, at the Western Secondary Conference, the talk is focuse... (read more) MBS Commentary MBS Live Recap: Limited Reaction to Powell Testimony; Stocks Fed Chair Powell fielded questions from the Senate Banking Committee today as a part of the 2-day semi-annual congressional testimony often referred to as the Humphrey Hawkins address.  These testimonies have plenty of street cred based on pas... (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 -0.05 GNMA 5.5 99.71 -0.06 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 8:50AM EST 10 Year US Treasury 4.3574 +0.0114 Price / Yield Change US Treasury 2 YR Treasury 3.846 +0.017 5 YR Treasury 3.902 +0.017 7 YR Treasury 4.115 +0.017 10 YR Treasury 4.363 +0.017 30 YR Treasury 4.936 +0.020 Pricing as of: 7/23 8:50AM EST Latest Video Using the yield curve to predict a recession Trade, labor and housing market themes in Fed's Beige Book Fed's Powell on yield curve: Question is what's the story with long rates Around the Web Reuters Fed walks careful line on trade, but downside risks emerging Calculated Risk Blog Phoenix Real Estate in June: Sales down 3%, Active Inventory down 10% YoY NAR - Realtor.com You've Probably Never Heard of the Most Expensive Home Maintenance Task Calculated Risk Blog Fed's Beige Book: Economic Growth "moderate or modest", "concern about tariffs", "Shrinking Margins" Reuters Financial, industrial stocks lift S&P 500 above five-month high Calculated Risk Blog Comments on June Housing Starts CNBC This unusual move in the bond market appears to be signaling interest rates are about to break out Reuters Fed's Powell quizzed again on trade risks by U.S. House CNBC How student loans are making some people abandon their dreams Calculated Risk Blog AIA: "June architecture firm billings stay positive" CNBC White House economic advisor Kudlow says no recession is in sight right now CNBC A bullish phenomenon' in bond market is weeks away from fading, top credit strategist says Bloomberg ECB Study Finds Stimulus Eased Rather Than Worsened Inequality

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