Both the S&P Dow Jones Indices and home price indicators from the Federal Housing Finance Agency (for March continue to show slowing appreciation although there also continue to be significant regional differences. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S census divisions, reported a 3.7 percent annual gain in March, down from 3.9 percent in the previous month. Before seasonal adjustment, the National Index posted a month-over-month increase of 0.6% in March, jumping from an 0.2 percent gain in February, but after seasonal adjustment, there was no change from the 0.3 percent increase posted in February. The annual increase in the 10-City Composite was 2.3 percent compared to 2.5 percent in March while the 20-City Composite increased 2

May 28, 2019 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 May 28, 2019 Rates Are Back to Lowest Levels in More Than a Year Fri, May 24, 2019 2:52PM Mortgage rates fell again today as mortgage lenders got caught up with yesterday's market movements. Mortgage rates are based on bond market trading levels, but mortgage lenders only adjust rates once per day unless there's quite a bit of movement. Yesterday saw such movement, and in those cases, lenders typically adjust rates to reflect only part of the overall shift in markets until the shift is confirmed for a certain amount of time. As such, when bond markets began the day in similar territory to yesterday, lenders were able to bring mortgage rates even lower than yesterday. With that, the... (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 5.5 101.28 +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 Week Ahead: Bonds Try to Maintain Positive Trend Tue, May 28, 2019 9:59AM In the week just past, bonds threw a vicious head-fake.  After 2 weeks spent moving lower inside a well-established trend, yields looked to be breaking out.  This had the seductive benefit of making perfect sense in the context of the ... (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 Case-Shiller: Given the Economy, "Housing Should be Doing Better. Tue, May 28, 2019 11:49AM Both the S&P Dow Jones Indices and home price indicators from the Federal Housing Finance Agency (for March continue to show slowing appreciation although there also continue to be significant regional differences. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S census divisions, reported a 3.7 percent annual ... (read more) Freddie Mac Portfolio Growth Slowed Slightly, Delinquencies Down Tue, May 28, 2019 11:53AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 6.2 percent in April, declining from 8.0 percent the previous month. The portfolio balance at the end of the period was $2.216 trillion compared to $2.204 trillion at the end of March and $2.109 trillion a year earlier. Purchases and Issuances totaled $36.071b... (read more) The Rental Inventory is Problematic Too Fri, May 24, 2019 10:36AM There probably hasn't been a report on home sales or prices in the last four years that hasn't referred to the role of housing inventory in the depressed level of the former or the rapid acceleration of the latter. According to data from CoreLogic, there was a 4.5-month supply of homes available at the current rate of sales in March. (We assume that number i... (read more) Digital, U/W, Recruiting Products; Workflow Automation Survey Fri, May 24, 2019 9:03AM The Memorial Day weekend... Wasn’t it just Christmas? Let’s wrap up what’s on the front burner for execs at the MBA’s Secondary Conference as we see the trade-war driven low rates of 2019. Yes, MLO compensation and licensing is an “issue.” When asked about the status of MLOs being able to move from banks to non-banks, Pete... (read more) 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 The Basis Point But seriously, how close are we to a fully digital mortgage? CNBC Morgan Stanley says economy is on 'recession watch' as bond market flashes warning Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices Calculated Risk Blog Dallas Fed: "Texas Manufacturing Expansion Continues but Pace Slows" consumerfinancemonitor.com Mortgage-specific provisions in the CFPB's proposed debt collection rules CNBC Home price gains weaken yet again in March: S&P Case-Shiller index CNBC Italy vs the EU? Markets spooked as Europe prepares for another budget showdown Reuters Britain's Hunt says pursuing no-deal Brexit would be "political suicide" CNBC Tornado wreaks havoc on Dayton as millions lose power across Ohio Reuters Explainer: Will China dump U.S. bonds as a trade weapon? Not so fast Brookings Institution Big city growth stalls further, as the suburbs make a comeback Bloomberg Manhattan Home Prices Fall Most Since 2010 Reuters Weak U.S. manufacturing underscores slowing economic growth

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