After three straight months of gains, April's new home sales were expected to give back a little and they did. The U.S. Census Bureau said sales of newly constructed homes were at a seasonally adjusted annual rate of 673,000 units, a 6.9 percent decline from March. The retrenchment was made even more likely by a significant upside revision to those March numbers; from 692,000 in the original estimate to 723,000, the highest number in at least a year. Despite April's decline, the month's sales pace is well above that in April 2018, up 7.0 percent from that estimate of 629,000. Analysts had predicted sales would slow to an annual rate between 640,000 and 696,000 units. The consensus of those polled by Econoday was 680,000. On a non-adjusted basis there were 66,000 newly constructed homes sold

May 23, 2019 Download our Mobile App: Download our Mobile App: Housing News New Home Sales End Three-Month Winning Streak, Still Up from 2018 After three straight months of gains, April's new home sales were expected to give back a little and they did. The U.S. Census Bureau said sales of newly constructed homes were at a seasonally adjusted annual rate of 673,000 units, a 6.9 percent decl... (read more) MBS Commentary MBS Live Day Ahead: And Now We're Trendless In the day just passed, bonds rallied somewhat sharply as headlines suggested Theresa May was soon to be ousted as Britain's prime minister.  Is it possible that other headlines regarding American politics were having an effect?  Maybe to a... (read more) Housing News UI Urges CFPB, Don't Limit Access to Loan Information The Urban Institute (UI) is urging the Consumer Financial Protection Bureau (CFPB) to rethink its plans for Home Mortgage Disclosure Act (HMDA) reporting. The HMDA, passed in 1975, requires many financial institutions to maintain, report, and publicl... (read more) Housing News Calabria Says Let Fannie/Freddie Make More Profit If you stuffed the old certificates in your sock drawer ten years ago, it may be time to dig them out. Mark Calabria, the new director of the Federal Housing Finance Agency (FHFA) says Fannie Mae and Freddie Mac common stock might be worth something ... (read more) Rob Chrisman Construction, Subservicer, Reverse Products; Technology Options Report As millions around the globe revel in World Turtle Day, others are more interested about what went on the hallway chatter at the MBA’s Secondary Conference as we see the low rates of 2019. How a few of the big banks (Wells, Chase, Flagstar, to ... (read more) Mortgage Rate Watch Mortgage Rates Catch a Break Mortgage rates moved higher at a pace that was probably quicker than the average homebuyer would like yesterday . That was part of a 4 day move leading back up from the lowest levels in more than a year (or close to them, depending on the lender). Th... (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 99.73 +0.09 Price / Yield Change MBS UMBS 5.5 99.72 +0.08 UMBS 6.0 101.51 +0.08 GNMA 5.5 99.92 +0.07 GNMA 6.0 101.41 +0.07 Pricing as of: 7/7 1:04AM EST 10 Year US Treasury 4.3310 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.859 -0.024 5 YR Treasury 3.914 -0.023 7 YR Treasury 4.104 -0.021 10 YR Treasury 4.332 -0.015 30 YR Treasury 4.866 +0.003 Pricing as of: 7/7 1:04AM 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 Bloomberg Can Bond Traders Snooze Through Trade-War Alarm? Reuters Global growth worries slam Wall St. as trade tensions persist Reuters U.S. tariffs on China to cost American households: NY Fed research Reuters Trade uncertainties big downside risk, Fed officials say CNBC Mortgage rates fall, and could go even lower, as bond yields fall on fears of a protracted China trade war CNBC Mortgage rates fall, and could go even lower, as bond yields fall on fears of a protracted China trade war consumerfinancemonitor.com CFPB publishes Spring 2019 rulemaking agenda Calculated Risk Blog A few Comments on April New Home Sales Bloomberg U.S. Treasury 10-Year Yield Drops to Lowest Level Since 2017 Federal Reserve Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households Calculated Risk Blog Kansas City Fed: "Growth in Tenth District Manufacturing Activity Continued at a Modest Pace" Bloomberg Fed Staff Lose Faith Central Bank Will Hit 2% Inflation Goal Reuters New tariffs on Chinese goods to cost typical U.S. household $831 a year: NY Fed research

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