New home builders finally got a little wind under their wings this month. The National Association of Home Builders (NAHB) said its NAHB/Wells Fargo Housing Market Index (HMI), a measure of builder confidence in the new home market, finally broke out of the low 60s where it has nested since the first of the year. The overall index rose 3 points to 66 in May, its highest level since October of last year. "Builders are busy catching up after a wet winter, and many characterize sales as solid, driven by improved demand and ongoing low overall supply," said NAHB Chairman Greg Ugalde. "However, affordability challenges persist and remain a big impediment to stronger sales." "Mortgage rates are hovering just above 4% following a challenging fourth quarter of 2018 when they peaked near 5%. This lower

May 15, 2019 Download our Mobile App: Download our Mobile App: Housing News Builders See Market Improvements New home builders finally got a little wind under their wings this month. The National Association of Home Builders (NAHB) said its NAHB/Wells Fargo Housing Market Index (HMI), a measure of builder confidence in the new home market, finally broke out... (read more) Rob Chrisman Non-QM, TPO, Marketing Products; 2-yr Yield Lower Than Overnight FF - What is Moving Rates? As we nip at the lowest interest rates in 2019, banking regulators are directing their attention to the declining quality of certain farm loans . A Federal Reserve report says from 2016 to 2018, nonperforming-loan ratios rose for farmland and agricul... (read more) Housing News Delinquencies Increased Slightly in First Quarter Delinquency rates popped up in the first quarter, pushing the percentage of mortgage loans that were behind by at least one payment up 36 basis points (bps) to 4.42 percent. The rate, derived from the Mortgage Bankers Association's (MBA's) quarterly ... (read more) Housing News Home Owners Pull Back on Remodeling Work The National Association of Home Builders (NAHB) is seeing some softening in the residential remodeling sector. Carmel Ford noted in an article in NAHB's Eye on Housing blog several weeks ago that the association's Remodeling Market Index (RMI) fell ... (read more) MBS Commentary MBS Live Day Ahead: Bonds Look to Defend Overnight Gains Amid Busy Data Morning In the day just past, bonds put in an extremely calm trading session with the lowest volume and volatility in weeks.  Treasuries ebbed inconsequentially higher and MBS held steady amid a lack of new, threatening US/China trade headlines. In th... (read more) Mortgage Rate Watch Rates Close In On Lowest Levels in Over a Year Mortgage rates have had a few first world problems to complain about recently. Well, there's really only been one: a relative inability to keep pace with the broader decline in rates as seen in the Treasury market. If Treasuries are the "master," mor... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 100.03 +0.38 Price / Yield Change MBS UMBS 5.5 99.73 +0.09 UMBS 6.0 101.52 +0.09 GNMA 5.5 99.93 +0.07 GNMA 6.0 101.42 +0.07 Pricing as of: 7/6 9:50PM EST 10 Year US Treasury 4.3300 -0.0167 Price / Yield Change US Treasury 2 YR Treasury 3.857 -0.026 5 YR Treasury 3.911 -0.025 7 YR Treasury 4.102 -0.023 10 YR Treasury 4.330 -0.017 30 YR Treasury 4.861 -0.003 Pricing as of: 7/6 9:50PM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Redfin How to Write a Winning Real Estate Offer Letter NAHB Eye on Housing "Seriously Delinquent" Loans Decline Bloomberg Three Fed Rate Cuts in 2019? Let's Take a Deep Breath Bloomberg Treasury Rally Drags 2-Year Yield to Lowest Since February 2018 NAR - Realtor.com Rising Rents for Millennials Give Rise to a New Breed of Lender CNBC 51% of millennial homeowners say they regret buying their homehere's why Calculated Risk Blog Industrial Production Decreased 0.5% in April Calculated Risk Blog NY Fed: Manufacturing "Business activity picked up significantly in New York State" Bloomberg Fed Officials Pledge Rate Patience Amid Trade and Trump Pressure Bloomberg Home Prices in the U.S. Climb at Slower Pace as Inventory Rises Bloomberg Trade War May Yet Spur China to Sell Treasuries as Yuan Sinks Reuters U.S. Treasury chief to plan for trade meeting in China soon: spokesman Calculated Risk Blog Los Angeles Area Home Sales Increased 1% YoY in April, Inventory up 10% YoY

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