Pending home sales slid for the third straight month in November and the 2.6 percent decline was the largest of the three. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a leading indicator of sales of existing single-family homes, townhomes, condominiums, and cooperative apartments, dipped to 125.7 from its 128.9 level in October. The current PHSI is still the highest NAR's books for any November and was 16.4 percent higher than a year earlier The index had declined by 2.2 percent in September and another 1.1 percent in October, ending a four-month string of strong gains. Analysts had not expected a reversal of the current trend in November. Those polled by both Trading Economics and Econoday had expected the index to be unchanged from October. "The

December 30, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.81% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 30, 2020 Mortgage Rates Closing Out The Year at Record Lows Tue, Dec 29, 2020 3:50PM For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we're looking at "all-time low " rates today versus "rates that are close enough to all-time lows that no one would really notice the difference" in the event of more negative outcomes. The catch is that these sorts of assumptions get increasingly risky as the new year commences. Especially concerning for bond... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.05 0.00 15 Yr. Fixed 5.81% -0.04 0.00 30 Yr. FHA 6.01% -0.04 0.00 30 Yr. Jumbo 6.30% 0.00 0.00 7/6 SOFR ARM 5.89% -0.06 0.00 30 Yr. VA 6.03% -0.04 0.00 Updates Daily - Last Update: 10/31 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 99.56 +0.01   95.05 100.11 UMBS 30YR 5.5 101.06 -0.01   97.47 101.40 10 YR Treasury 4.076 -0.020   3.932 4.780 MBS Live Recap: Bonds Sticking to Year-End Script Wed, Dec 30, 2020 2:43PM Bonds Sticking to Year-End Script Bonds did a perfect job sticking to their year-end script today.  It reads: "ZZZzzz..."  MBS made some token gains during the AM hours, but not to such an extent that we should feel compelled to investigate.  Treasuries were rallying at the same time as an upgraded sti... (read more) MBS Price Change UMBS 4.5 97.56 +0.06 UMBS 5.0 99.56 +0.01 UMBS 5.5 101.06 -0.01 GNMA 4.5 97.65 +0.04 GNMA 5.0 99.73 +0.05 GNMA 5.5 100.82 -0.03 Pricing as of: 11/3 2:24AM EST US Treasury Yield Change 2 YR Treasury 3.574 -0.034 5 YR Treasury 3.683 -0.035 7 YR Treasury 3.873 -0.025 10 YR Treasury 4.076 -0.020 30 YR Treasury 4.653 -0.004 Pricing as of: 11/3 2:24AM EST Other News Pending Home Sales Slide a Bit After Banner Year Wed, Dec 30, 2020 11:28AM Pending home sales slid for the third straight month in November and the 2.6 percent decline was the largest of the three. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a leading indicator of sales of existing single-family homes, townhomes, condominiums, and cooperative apartments, dipped to 125.7 from its 128.9 l... (read more) Home Price Gains Continued Through October, Fastest Rate in 6 Years Tue, Dec 29, 2020 10:00AM The headline for the October S&P CoreLogic Case-Shiller home price report is yet another month of escalating gains. The National Home Price Index which covers all nine U.S. census divisions posted an annual increase of 8.4 percent compared to a 7.0 percent change in September. The National Index posted a 1.4 percent month-over-month increase before seaso... (read more) Can a Grocery Store Really Affect Your Home's Value? Mon, Dec 28, 2020 11:54AM As studies go, ATTOM Data Solutions Grocery Store Wars analysis is kind of silly. But at this point in this year, kind of silly is sort of welcome. Keep chickens and eggs in mind and make of this what you will. The company looked at how the proximity of different grocery stores might affect a home's value , both for homeowners and investors. They looked spec... (read more) Credit/Risk, MLO, Ops Jobs; Agency-Approved Lender Wanted; Sales, RentalProducts; Primer on Secondary Marketing for MLOs Wed, Dec 30, 2020 10:35AM Loan originators in our business see potential borrowers whose monthly mortgage payments would be less than their rent payments but don’t qualify for credit or income reasons. The U.S. Census Bureau published some findings on workers being hardest hit by the COVID-19 pandemic. Self-employed workers are more likely to face economic hardships in the stat... (read more) Latest Video Pending homes sales fall for third straight month The 9 a.m. Bond Report: December 30, 2020 Senate GOP rejects push for $2,000 stimulus checks as part of Covid-19 reli... The 9 a.m. Bond Report: December 29, 2020 Around the Web Calculated Risk Blog Question #6 for 2021: Will the Fed raise rates in 2020? What about the asset purchase program? CNBC $2,000 stimulus checks stall in the Senate as Treasury starts to send $600 payments Calculated Risk Blog Question #7 for 2021: How much will RI increase in 2021? How about housing starts and new home sales in 2021? CNBC How the pandemic drove massive stock market gains, and what happens next NAHB Eye on Housing Top Posts of 2020: Cost of Constructing a Home in 2019 NAR - Realtor.com Lots of Homes Under $100K Are for Sale, but Most Buyers Can't Get One for This Reason CNBC U.S. Treasury yields move higher after delay to Senate vote on $2,000 stimulus checks Calculated Risk Blog Zillow Case-Shiller House Price Forecast: "Nothing Short of Remarkable", 9.5% YoY in November Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in October CNBC If stimulus checks are raised to $2,000, here's how that would work CNBC Senate Republicans face pressure to vote on $2,000 stimulus checks after House passes bill Calculated Risk Blog Question #8 for 2021: What will happen with house prices in 2021? CNBC Department of Labor says there will not be a lapse in unemployment benefits for gig workers, long-term unemployed

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