New home sales have adopted an up and down pattern since March and continued in that trend in June. The U.S. Census Bureau and the Department of Housing and Urban Development report that those sales were at a seasonally adjusted annual rate of 631,00 units. This is down 5.3 percent from May's revised sales of 666,000. That is a substantial downward revision from the 689,000 units and 6.7 percent increase originally reported for the month. Sales are hanging on to a 2.4 percent improvement over the June 2017 estimate of 616,000. Analysts had expected sales to retreat but were looking for a much less definitive move. Forecasts from those polled by Econoday fell in the range of 590,000 to 685,000 units. The consensus was 668,000. Both median and average sales prices were down for the second straight

July 25, 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 Jul 25, 2018 Mortgage Rates Continue Higher Despite Market Stability Tue, Jul 24, 2018 5:26PM Mortgage rates rose again today, even though underlying bond markets managed to indicate modest improvements. There are two reasons rates ignored those improvements. First of all, they weren't really intact at the beginning of the day when lenders were compiling rate sheets. Even then, most lenders were still in worse shape at the end of the day when bonds gave them the green light to offer lower rates. The other issue is that lenders had almost all repriced negatively in the middle of the day yesterday, and they did so before the bond market losses had run their course. Markets have to move b... (read more) 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: One More Way to Look at Recent Volatility Wed, Jul 25, 2018 9:45AM Yesterday brought an early interruption to the range breakout that began late last week.  Such bounces merit caution as they often simply act as a short-term correction for a new, negative trend.  A second day of stability today would be ... (read more) MBS Live Recap: Eerily Calm Day; Any Meaning? Tue, Jul 24, 2018 6:15PM Today was one of those eerily calm days that we occasionally see plopped right where we'd expect to see something more exciting.  And in a way, that is exciting in and of itself!   Yesterday, bonds officially broke higher in yield, up and out of their recent sideways range.  Rather, yesterday resoundingly confirmed that breakout, whic... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:04AM EST US Treasury Yield Change 2 YR Treasury 3.500 +0.012 5 YR Treasury 3.576 +0.015 7 YR Treasury 3.785 +0.017 10 YR Treasury 4.062 +0.022 30 YR Treasury 4.720 +0.030 Pricing as of: 9/9 7:04AM EST Other News New Home Sales Continue See-Saw Pattern, Down 5.3 Percent Wed, Jul 25, 2018 10:38AM New home sales have adopted an up and down pattern since March and continued in that trend in June. The U.S. Census Bureau and the Department of Housing and Urban Development report that those sales were at a seasonally adjusted annual rate of 631,00 units. This is down 5.3 percent from May's revised sales of 666,000. That is a substantial downward revision ... (read more) Mortgage Application Activity Hits Summer Doldrums Wed, Jul 25, 2018 8:03AM As the Mortgage Bankers Association (MBA) termed it the headline on its press release this morning: "Mortgage Application Activity and Rates [were] Nearly Flat in Latest MBA Weekly Survey." MBA's Market Composite Index, a measure of mortgage loan application volume, certainly didn't do any handstands or back-flips during the week ended July 20, and most rate... (read more) LO, AE Jobs, Non-QM and e-Recording Products; Fannie/Freddie Conforming News Wed, Jul 25, 2018 9:05AM “Rob, are you hearing that residential lenders are nervous about releasing their 2nd quarter results to warehouse banks, correspondent investors, and other counter-parties since they aren’t as good as hoped? Or even delaying them?” Yes, I am hearing rumblings of that, but hopefully plenty are anxious to release them to show how well they di... (read more) Latest Video EU agrees to cut industrial tariffs and import more US soybeans, Dow Jones ... Mortgage apps fall 1% as affordability concerns looms New home sales down 5.3% in June Around the Web NAR - Realtor.com What Would a Home Buyer Give Up for a Good School? A Garage, for One Reuters EU offers trade concessions in talks with Trump: Wall Street Journal NAR - Realtor.com A Low Credit Score Costs Home Buyers BigHere's How Much Reuters Trump, Juncker voice desire to reduce tariffs, trade tensions CNBC San Francisco Bay Area June home sales fall to the lowest point in 4 years as prices surge to record levels Bloomberg Fannie-Freddie a Top Focus If Democrats Win House, Waters Says CNBC Buffett says too few from Wall Street are giving their fortunes away, hopes more follow Cooperman's lead Bloomberg Homebuilders Fall to 10-Month Low on Sales Data, Earnings Miss Calculated Risk Blog A few Comments on June New Home Sales CNBC This map shows where home price inequality is the highest CNBC Second quarter's hot economic growth may have been helped by increased activity to get ahead of tariffs CNBC Rising rates likely to shake stocks to core, veteran investor Peter Boockvar warns Brookings Institution Measuring inflation: What's changed over the past 20 years? What hasn't?

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