Earlier this month the National Association of Home Builders' (NAHB's) Eye on Housing blog featured a story on America's aging housing stock. NAHB analyst Na Zhao used 2016 American Community Survey (ACS) data to put the median age of owner-occupied homes at 37 years compared to a median age of 31 years in 2005. The aging trend had picked up speed during the Great Recession. Zhao says the age of the housing stock is an important indicator for home remodeling as older houses are less energy efficient than new construction and ultimately will require remodeling and renovation lest they fall into disrepair and out of the housing inventory. Now the author takes another and more granular look at the issue and finds noticeable variations in the median age of housing across the states. New York has

August 29, 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 Aug 29, 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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Why GDP is Seldom a Big Market Mover Wed, Aug 29, 2018 8:45AM GDP is released 3 times over 3 months beginning on the month that follows the quarter in question.  In other words, Q2 (April-June) is first reported in July.  The first revision is reported today (it's still August, right?). GDP always sounds like a big market mover, largely because it's the broadest and, perhaps, most widely recognized econ... (read more) MBS Live Recap: Bonds Confirm Technical Shift But Stop Short of Breakout Tue, Aug 28, 2018 5:23PM Yesterday's bond market weakness introduced some risk of a technical shift back toward higher yields.  Specifically, fast and slow stochastics (shorter and longer term momentum gauges) were simultaneously 'overbought' for the first time since April.  Making things complicated was the fact that bonds were still showing some signs of resilienc... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Sun Belt has Lock on "Young" Housing Wed, Aug 29, 2018 11:46AM Earlier this month the National Association of Home Builders' (NAHB's) Eye on Housing blog featured a story on America's aging housing stock. NAHB analyst Na Zhao used 2016 American Community Survey (ACS) data to put the median age of owner-occupied homes at 37 years compared to a median age of 31 years in 2005. The aging trend had picked up speed during the... (read more) NAR Sees Overheated Housing Market Starting to Cool Wed, Aug 29, 2018 10:12AM Expectations weren't particularly high for a solid July report on home purchase contracts, but today's report from the National Association of Realtors® (NAR) didn't meet even those . NAR's Pending Home Sales Index (PHSI) came in at 106.2, down from an upwardly revised (from 106.9) 107.0 in June, a decline of 0.7 percent. The decrease put the PHSI 2.3 pe... (read more) Mortgage Lenders Back in Black After Earlier Losses Wed, Aug 29, 2018 8:13AM In the first quarter of 2018, independent mortgage banks and mortgage subsidiaries of chartered banks posted only their second period of financial losses in the ten years the Mortgage Bankers Association (MBA) has covered the issue. This week MBA was able to report better news. The Association's Quarterly Mortgage Bankers Performance Report says respondents ... (read more) Mortgage Applications Resume Downward Spiral Wed, Aug 29, 2018 8:05AM The surge in mortgage applications last week, fostered by a 6.0 percent increase in refinancing, was short-lived. Despite slightly lower interest rates, the Mortgage Bankers Association (MBA) reports that its Market Composite Index, a measure of applications received by lenders, has resumed its downward spiral, with volume decreasing for the 17th time in the... (read more) Latest Video Santelli Exchange: The yield curve as an indicator of future recessions Pending home sales post annual decline for seventh straight month No recession in 2019 but GDP growth might slow, says economist Around the Web Reuters Trump says NAFTA talks with Canada likely to meet Friday deadline builderonline.com Is Home Price Growth Over? 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