The hot home sales market continued unabated in October. The National Association of Realtors® (NAR) reports that existing home sales grew for the fifth consecutive month and 72 percent of homes that sold were on the market for less than a month. Single-family houses, townhouses, condos, and cooperative apartments sold in October at a seasonally adjusted annual rate of 6.85 million units. This was an increase of 4.3 percent from the September pace and 26.6 percent above the rate of 5.41 million sales in October 2019. Single-family home sales rose 4.1 percent to a seasonally adjusted annual rate of 6.12 million, up from 5.88 million in September. This was 26.7 percent above the pace a year earlier. The annual sales rate for existing condominium and co-ops was up 5.8 percent and 25.9 percent

November 19, 2020 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 Nov 19, 2020 Mortgage Rates Move Lower Today, But Don't Count on a Repeat Tomorrow Wed, Nov 18, 2020 5:22PM Mortgage rates were little-changed yesterday--a fact that was ultimately at odds with underlying market movement by the end of the day. What does that mean? Simply put, mortgage rates are primarily determined by the trading prices of certain bonds (MBS, in this case). MBS change every second of the trading day though, so mortgage lenders have to pick a certain price they're willing to offer. From there, they usually only adjust rates in the middle of the day if MBS move significantly. By the end of the day yesterday, MBS had moved enough (in a friendly direction) for a few lenders to pull 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 Recap: Tame Trading Day Leaves Outlook Intact Thu, Nov 19, 2020 4:24PM Tame Trading Day Leaves Outlook Intact The bond market has been in a bullish consolidation pattern since last Monday and today's trading activity did little to change that.  In fact, it did nothing to change that as MBS prices and Treasury yields both stayed "inside the lines" (literally and figuratively). ... (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 Home Sales Defy Expectations, Crushing Another 14 Year Record Thu, Nov 19, 2020 11:10AM The hot home sales market continued unabated in October. The National Association of Realtors® (NAR) reports that existing home sales grew for the fifth consecutive month and 72 percent of homes that sold were on the market for less than a month. Single-family houses, townhouses, condos, and cooperative apartments sold in October at a seasonally adjusted... (read more) How Homeowners' Credit Profiles Impact Forbearance Wed, Nov 18, 2020 3:18PM Freddie Mac has published research examining the characteristics of borrowers who took advantage of the availability of forbearance plans in the early part of the COVID-19 pandemic. Mortgage forbearance temporarily removes the obligation for borrowers to make their monthly mortgage payment. Forbearance plans are typically used by borrowers who experienced a ... (read more) Strong Construction Data Led by Single Family Homes Wed, Nov 18, 2020 3:16PM Residential construction data for October was mixed. The U.S. Census Bureau and Department of Housing and Urban Development reported that the rate of permitting flattened and completions declined. Housing starts, usually considered the key number, continued to climb. Permits for residential construction were issued at a seasonally adjusted annual rate of 1,5... (read more) Sales, Ops, QC Jobs; Retention, VOI, Broker Products; Ops and Processing Changes Thu, Nov 19, 2020 9:01AM “Life is like a helicopter. I don’t know how to operate a helicopter.” Remember how exciting it was when the technology of spellcheck came along? (People handwrite “congrats” on cards because they can’t spell “congratjulashons.”) Lenders alternate between being too busy or too poor to roll out new technology, b... (read more) Latest Video Stocks continue to fall as U.S. coronavirus cases surge — Four experts on t... Existing home sales rise to highest since February 2006 The 9 a.m. Bond Report: November 19, 2020 Jobless claims filings tick up, breaking four-week streak of declining clai... Around the Web NPR 'We Need To Build More Homes:' Prices Soar Amid Housing Shortage CNBC Schumer says McConnell has agreed to resume negotiations over Covid-19 stimulus Calculated Risk Blog Comments on October Existing Home Sales Calculated Risk Blog Hotels: Occupancy Rate Declined 32.7% Year-over-year NAHB Eye on Housing Multifamily Market Sentiment Improves in the Third Quarter Calculated Risk Blog Philly Fed Manufacturing "Continued to Grow" in November CNBC U.S. weekly jobless claims total 742,000, vs 710,000 estimate CNBC The pandemic pause in student loan payments may end soon. Here's how to prepare Calculated Risk Blog CAR on California October Housing: Sales up 20% YoY, Active Listings down 40%+ YoY NAHB Eye on Housing Single-Family Built-for-Rent Construction Expands CNBC Coronavirus vaccine shots could go to U.S. health workers in about a month Calculated Risk Blog Comments on October Housing Starts CNBC Pfizer says final data analysis shows Covid vaccine is 95% effective plans to submit to FDA in 'days'

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.