Residential construction resumed its upward trend after a brief pause in August. The U.S. Census Bureau and Department of Housing and Urban Development reported that all three measures of construction, permitting, housing starts, and unit completions, increased in September. Permits for privately owned residential construction were issued at a seasonally adjusted annual rate of 1,553,000, up by 5.2 percent from the 1,476,000-unit annual rate (revised from 1,416,000) in August. The increase from the previous September's rate of 1,437,000 units was 8.1 percent. Analysts had expected permits to recover from their slight (0.9 percent) downturn in August but those polled by Econoday had a consensus of only 1,451,000 units. Even the high end of their 1,375,000 to 1,500,000 forecast range was well

October 20, 2020 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 Oct 20, 2020 Mortgage Rates Flat to Begin The Week--Still Not At All Time Lows Mon, Oct 19, 2020 3:43PM For some unknown reason, there were additional articles over the weekend touting " all-time low mortgage rates." Underpinning these alleged rates is primary data that was released on Wednesday and Thursday last week. In short, the two weekly survey-based mortgage rate indices agreed that best-case-scenario rates were at all-time lows. To be fair, they're not terribly far off base. "Best-case scenario" rates are indeed pretty close to all time lows. The methodology limitations of the surveys could easily explain how they each missed the actual all-time lows that occurred in early August and are... (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 99.78 -0.17   95.05 100.50 UMBS 30YR 5.5 101.19 -0.05   97.47 101.61 10 YR Treasury 4.065 +0.034   3.643 4.780 MBS Live Recap: Bearish Bond Trend Continues Tue, Oct 20, 2020 4:32PM Bearish Bond Trend Continues Looking back at MBS or Treasuries over the past few weeks reveals a clear termination of a rally trend at the end of September and a similarly well-established bearish trend throughout October.  Treasury yields are the highest since early June and MBS aren't too far away from their w... (read more) MBS Price Change UMBS 4.5 97.78 -0.26 UMBS 5.0 99.74 -0.22 UMBS 5.5 101.15 -0.09 GNMA 4.5 98.07 -0.08 GNMA 5.0 100.04 -0.16 GNMA 5.5 101.02 -0.19 Pricing as of: 9/17 5:07PM EST US Treasury Yield Change 2 YR Treasury 3.548 +0.045 5 YR Treasury 3.642 +0.056 7 YR Treasury 3.824 +0.053 10 YR Treasury 4.070 +0.039 30 YR Treasury 4.668 +0.016 Pricing as of: 9/17 5:07PM EST Other News Looks Like Residential Construction is Back on Track Tue, Oct 20, 2020 11:10AM Residential construction resumed its upward trend after a brief pause in August. The U.S. Census Bureau and Department of Housing and Urban Development reported that all three measures of construction, permitting, housing starts, and unit completions, increased in September. Permits for privately owned residential construction were issued at a seasonally adj... (read more) Home Purchase Demand Still Strong, but Slowing Down Mon, Oct 19, 2020 1:31PM While applications for new home purchase mortgages jumped in September, the Mortgage Bankers Association (MBA) expects only modest changes in the September sales data. MBA's Builder Application Survey (BAS) data shows mortgage applications for new home purchases increased 38.2 percent in September compared to a year earlier but were down 5 percent from Augus... (read more) Builder Confidence Sets a New Record Once Again Mon, Oct 19, 2020 10:33AM For only the second time in its 35-year history, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) topped 80 this month. The first time was in September. The index, a measure of builder confidence in the market for newly built single-family homes increased two points to 85, breaking the previous high of 83 set last month... (read more) Compliance, AE, MLO Jobs; Marketing, Broker, Servicing Products; Online Disclosure Survey Mon, Oct 19, 2020 8:45AM Fifteen days until the election! How many days would it take you, or the company that employs you, to save up $11 million? In my discussions with CEOs, they are more concerned about how the election may impact the future regulatory environment than interest rates. I mention that because Florida’s Ocwen Financial Corp. (“New Co.” spelled bac... (read more) Latest Video U.S. housing starts total 1.415 million in September, vs 1.457 million expe... The 9 a.m. Bond Report: October 20, 2020 10-year Treasury yield hits highest level in more than a week Homebuilder sentiment jumped in October, the second month in a row Around the Web NAR - Realtor.com Considering a Pandemic Move? These Are the Top Small Cities in 2020 Calculated Risk Blog Phoenix Real Estate in September: Sales Up 18.5% YoY, Active Inventory Down 40% YoY Calculated Risk Blog CAR on California September Housing: Sales up 21% YoY, Active Listings down 48% YoY NAHB Eye on Housing Home Building Continues Historic Climb Calculated Risk Blog Comments on September Housing Starts twitter.com FHFA further extends COVID-related loan flexibilities and proposes new rule for Enterprise products and activities CNBC Treasury yields move higher as investors monitor economic data, auctions and Fed speeches CNBC Inflation comeback may force Fed to abandon easy money policy much sooner than intended, Wall Street forecaster Jim Bianco warns CNBC Bostic says the Fed needs to do more to address racial economic impact from the pandemic Calculated Risk Blog Lawler: Early Read on Existing Home Sales in September Calculated Risk Blog DOT: Vehicle Miles Driven decreased 12.3% year-over-year in August news.google.com Powell: Fed open to private sector collaboration in possible digital dollar CNBC Homebuilder sentiment sets another record high in October

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