While permits fell from the previous month, the U.S. Census Bureau and the Department of Housing and Urban Development said December was another exceptional month for residential housing starts. Those starts soared to a seasonally adjusted annual rate of 1,608,000 during the month, a 16.9 percent increase from November's estimate which was revised from 1,365,000 to 1,375,000. The December number was the highest monthly rate for starts since the same month in 2006 and was 40.8 percent higher than last year's December pace. Both single-family and multifamily construction were strong. Single-family starts rose 11.2 percent to an annual rate of 1,055,000 from the revised (from 938,000) rate of 949,000 in November. Single-family starts were 29.6 percent ahead of last December's rate of 814,000.

January 17, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jan 17, 2020 Mortgage Rate Volatility Still a No-Show For 2020 Wed, Jan 15, 2020 2:37PM Mortgage rates improved modestly today, adding to yesterday's slightly less compelling improvement. Taken together, they keep an air of calm and steady progress intact during a week that ran the risk of stumbling across volatility. One of the key sources of potential volatility was today's signing of the US/China "phase 1" trade deal. Granted, it was only much of a risk in the event that something unexpected happened. Needless to say, nothing unexpected happened! Mortgage rates and the underlying bond market reacted accordingly as they merely went about their business for reasons known only to... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.57 +0.11   95.05 100.11 UMBS 30YR 5.5 101.08 +0.08   97.47 101.40 10 YR Treasury 4.095 -0.014   3.932 4.780 MBS Live Day Ahead: Robust Day of Econ Data and Corporate Earnings Thu, Jan 16, 2020 9:07AM Bonds continue to be well-contained by the prevailing consolidation range--a series of higher lows and static highs that's been in place in its current form since mid October.  A big break outside that range could serve as a cue for sustained momentum in the direction of the break.  Think of such patterns as the bond market's way to pause and ref... (read more) MBS Price Change UMBS 4.5 97.53 +0.12 UMBS 5.0 99.58 +0.13 UMBS 5.5 101.09 +0.09 GNMA 4.5 97.53 +0.03 GNMA 5.0 99.80 +0.16 GNMA 5.5 100.88 +0.09 Pricing as of: 11/4 8:18AM EST US Treasury Yield Change 2 YR Treasury 3.576 -0.033 5 YR Treasury 3.697 -0.027 7 YR Treasury 3.880 -0.025 10 YR Treasury 4.089 -0.020 30 YR Treasury 4.674 -0.019 Pricing as of: 11/4 8:18AM EST Other News December's Housing Starts Surged to 13-Year High Fri, Jan 17, 2020 10:30AM While permits fell from the previous month, the U.S. Census Bureau and the Department of Housing and Urban Development said December was another exceptional month for residential housing starts. Those starts soared to a seasonally adjusted annual rate of 1,608,000 during the month, a 16.9 percent increase from November's estimate which was revised from 1,365... (read more) Home Builders Confidence Remains Near 20-Year High Thu, Jan 16, 2020 10:33AM The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) settled back a bit after its 5-point surge in December took it to its highest level since 1999. The Index, a measure of builder confidence in the market for newly constructed homes, dipped 1 point in January to 75, still remaining above that earlier high. NAHB said, "With... (read more) Lower Housing Affordability Linked to Slower Job Growth Wed, Jan 15, 2020 10:36AM The National Association of Realtors® (NAR) has uncovered another downside to the increasing lack of housing affordability in the U.S. A new study found that, in many areas where affordability has declined over the last five years, so has the rate of job growth. NAR measures affordability by calculating the ratio of the median family income to the metro ... (read more) Renovation Products; CEOs Can't Ignore LIBOR Transition; Cap. Markets Fri, Jan 17, 2020 9:22AM I’ve gotta hand it to those writers who put out listings for real estate agents. Maybe if I had a bunch of money I could live in a “secluded retreat” or an “enchanted villa.” I have never lived in a place described as a “retreat,” having stunning or remarkable views or panoramic vistas in a “gorgeous natural se... (read more) Latest Video U.S. homebuilding is booming. Here's how to trade it Here's a breakdown of December housing starts US industrial production down 0.3% in December, as expected US housing starts jump 40% annually, the highest in 13 years Around the Web Reuters Wall Street hits new highs in strongest week since August CNBC Treasury brings back the 20-year bond to pay for the ballooning deficit Calculated Risk Blog Lawler: Early Read on Existing Home Sales in December Calculated Risk Blog CAR on California December Housing: Sales up 7.4% YoY, Inventory down 26.5%, Lowest Inventory in "nearly seven years" Calculated Risk Blog Q4 GDP Forecasts: 1.2% to 2.0% CNBC Trump's Fed pick Judy Shelton faces obstacles to confirmation Reuters Fed's Bullard: "Material reassessment" is "big tent language" Calculated Risk Blog BLS: Job Openings "Fell" to 6.8 Million in November Reuters U.S. manufacturing output rises unexpectedly Reuters The yield curve's still weird. Fed's Bullard is okay with that CNBC US housing starts soar 16.9 % in December to a 13-year high Redfin US Home Prices Up 7% in December CNBC Treasury yields move higher as investors await economic data

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