With the huge Millennial generation finally buying houses, the National Association of Home Builders has taken a deep dive into their various preferences for where and how they are going to live. Last year it conducted the fourth in a series of buyer preference surveys, adding to data collected in 2007, 2012, and 2015. A report by Paul Emrath analyzes those choices, how they differ across age groups and changed as those groups have aged. Some of the survey's findings specific to Millennials, which they define as those currently 23 to 39 years of age, is that they prefer to buy new homes built for sale rather than those that are custom built and, while most prefer to buy in the suburbs there is an increasing desire to live in central cities. Their preferences include a set of amenities such

August 23, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Aug 23, 2019 Mortgage Rates Hold Steady at Week's Highest levels Thu, Aug 22, 2019 3:57PM Mortgage rates managed to hold relatively steady today after moving higher at their fastest pace in over a week yesterday. Incidentally, they also hit their highest levels in more than a week as well. In the bigger picture, the changes have been relatively small. The underlying bond market is catching its breath after an impressive surge toward lower rates throughout August. Some market participants think the next noticeable wave of momentum will begin tomorrow after Fed Chair Powell speaks at the annual Jackson Hole symposium. Like many potentially important communications from the Fed, this ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.75 +0.16   95.05 100.47 UMBS 30YR 5.5 101.17 +0.14   97.47 101.61 10 YR Treasury 4.056 -0.025   3.706 4.780 MBS Live Day Ahead: Jackson Hole Day - Here's What That Means Fri, Aug 23, 2019 9:14AM In the day just passed, bond markets weakened in the overnight session and then held mostly steady during the domestic hours.  The most notable attempt to change that was seen after the exceptionally weak Markit PMI data which showed the weakest manufacturing and composite numbers since 2009.  Bonds don't have a rich history of reacting to Mark... (read more) MBS Price Change UMBS 4.5 97.77 +0.14 UMBS 5.0 99.76 +0.17 UMBS 5.5 101.18 +0.15 GNMA 4.5 98.14 +0.13 GNMA 5.0 100.04 +0.21 GNMA 5.5 101.04 +0.15 Pricing as of: 9/18 4:10AM EST US Treasury Yield Change 2 YR Treasury 3.529 -0.035 5 YR Treasury 3.621 -0.035 7 YR Treasury 3.806 -0.033 10 YR Treasury 4.054 -0.027 30 YR Treasury 4.651 -0.037 Pricing as of: 9/18 4:10AM EST Other News Millennials Differ in Housing Preferences, But Not by Much Fri, Aug 23, 2019 1:16PM With the huge Millennial generation finally buying houses, the National Association of Home Builders has taken a deep dive into their various preferences for where and how they are going to live. Last year it conducted the fourth in a series of buyer preference surveys, adding to data collected in 2007, 2012, and 2015. A report by Paul Emrath analyzes those ... (read more) Junes New Home Sales Revision Was a Post-Crisis Record Fri, Aug 23, 2019 10:56AM The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes fell 12.8 percent in July to a seasonally adjusted annual rate of 635,000 units. Forecasts pinned that number at 645k. While missing the mark by 10,000 units and a 12.8 percent drop sound fairly significant, context is hugely important in this cas... (read more) Treasury Report Sparks Rumors of Fannie/Freddie Liberation Thu, Aug 22, 2019 2:42PM Sources are telling Bloomberg that a report on the White House's plan to release Fannie Mae and Freddie Mac (the GSEs) from their 11-year long conservatorship has landed on the desks of several agencies and is also in the hands of Lawrence Kudlow, head of the National Economic Council. Bloomberg staff say this is a sign the report is getting closer to being ... (read more) Sales, LO jobs; DPA, Pricing, Recruiting Products; Vendor Updates Fri, Aug 23, 2019 9:01AM Japan's government bonds could soon join Germany's in having negative yields on all maturities. Japanese debt has gone negative out to 15 years, and buyers are turning to 30- and 40-year bonds to get positive yields. Falling bond yields and minimal interest rates are prompting European banks to consider the unprecedented step of offering home loans at negati... 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