Home prices really ramped up in the first quarter of 2020 as inventory failed to make significant gains. The National Association of Realtors® (NAR) said the median single-family home in the quarter sold at $274,600, a 7.7 percent annual increase. Prices rose in 96 percent of the 181 metropolitan areas tracked NAR. In the fourth quarter of 2019, 94 percent posted gains. Forty-six metros, mostly in the West and South regions, saw prices increase by double-digits. This included Boise City (18.1 percent), Eugene (14.5 percent), and Colorado Springs (14.4 percent), among others. "The first quarter price jumps mostly reflect conditions prior to the coronavirus outbreak and show the strength of the housing demand prior to the pandemic," said Lawrence Yun, NAR chief economist. "Even now, due to

May 12, 2020 Download our Mobile App: Download our Mobile App: Housing News Pre-Lockdown Home Prices Increase by Double-Digits in Some Metros Home prices really ramped up in the first quarter of 2020 as inventory failed to make significant gains. The National Association of Realtors® (NAR) said the median single-family home in the quarter sold at $274,600, a 7.7 percent annual increase... (read more) Rob Chrisman LO Jobs; Marketing, Docs, Loan Products; Lenders Continue to Combat Covid I have a confession to make. I grew up drinking whole milk. In fact, I’m so old, when we were thirsty playing sports on the street, we drank out of whatever garden hose was convenient. (Audible gasp from readers.) I could go on, but the point i... (read more) MBS Commentary MBS Live Day Ahead: Why Are MBS Prices So Much Lower This AM? 2.5 UMBS coupons last traded at 103.5 (103-16) yesterday.  This morning, they are down to 103.31 (103-11), which is roughly a 20bp drop.  But the charts on MBS only show them being down 1-2 ticks (.02-.05) depending on when you look.  ... (read more) Housing News Local Governments are Preparing for Forbearance Fallout The economic consequences of the COVID-19 pandemic are increasingly clear, and so are the results of some efforts to alleviate financial hardships. Ginnie Mae and the Federal Housing Finance Agency have mandated servicers of FHA, VA, and GSE (Fannie ... (read more) Housing News Calm Before the Storm: Delinquency Rates Hit New Lows in February CoreLogic's Loan Performance Insights Report has shown only incremental changes, primarily declines, in most of its measures of delinquency. The most recent report, covering February, is more of the same, marking the 26 th straight month that delinqu... (read more) Mortgage Rate Watch Mortgage Rates Start Strong But End Day Higher Mortgage rates began the day slightly lower compared to last Friday, but that didn't last long . Underlying bond markets were under pressure from the outset. When bond prices fall, rates move higher, all other things being equal. The bond market has ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.72 +0.08 Price / Yield Change MBS UMBS 5.5 99.74 +0.10 UMBS 6.0 101.53 +0.10 GNMA 5.5 99.94 +0.08 GNMA 6.0 101.43 +0.08 Pricing as of: 7/6 10:15PM EST 10 Year US Treasury 4.3339 -0.0128 Price / Yield Change US Treasury 2 YR Treasury 3.853 -0.030 5 YR Treasury 3.909 -0.028 7 YR Treasury 4.101 -0.023 10 YR Treasury 4.330 -0.017 30 YR Treasury 4.860 -0.003 Pricing as of: 7/6 10:15PM EST Latest Video Redfin CEO: Expect something close to an exodus from expensive, large citie... Fed should be focused on full economic inclusive recovery: Former Fed gov. Dr. Fauci warns of reopening US economy too soon US consumer price index fell 0.8% in April, as expected Around the Web Reuters S&P 500 tumbles on fears of virus resurgence in economic reopening Calculated Risk Blog Bloomberg Interview on Housing and COVID-19 CNBC Some homeowners are getting mortgage bailouts by mistake, and it's keeping them from refinancing Reuters U.S. Congress presses bank regulators on coronavirus assistance, oversight Calculated Risk Blog Cleveland Fed: Key Measures Show Inflation Slowed in April Reuters Trump again urges Fed to adopt negative U.S. interest rates Reuters In U.S. Senate testimony, Fauci seen warning against easing coronavirus restrictions CNBC US grocery costs jump the most in 46 years, led by rising prices for meat and eggs Calculated Risk Blog BLS: CPI decreased 0.8% in April, Core CPI decreased 0.4% Reuters U.S. Congress to quiz bank regulators on coronavirus rule-easing, assistance CNBC The Fed is starting up its program to purchase corporate bond ETFs NAR - Realtor.com Homebuilders Are Now Offering Deals, Incentives on New Construction to Lure Buyers cfpb.gov CFPB, FHFA, & HUD Launch Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19

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