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The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) set a new high this month, breaking a record that it set only 30 days earlier. The Index, a measure of builder confidence in the new home market, rose 5 points to 83 in September. A 6-point increase in August had shot the Index to 78 , tying it with the previous high set in December 1988. " Historic traffic numbers have builders seeing positive market conditions, but many in the industry are worried about rising costs and delays for building materials, especially lumber," said NAHB Chairman Chuck Fowke. "More domestic lumber production or tariff relief is needed to avoid a slowdown in the market in the coming months." " Lumber prices are now up more than 170 percent since mid-April , adding more than $16
Housing News
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The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) set a new high this month, breaking a record that it set only 30 days earlier. The Index, a measure of builder confidence in the new home market, rose 5 points to... (read more)
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Mortgage Rate Watch
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What will the Fed do to mortgage rates ? This is actually a bit of a trick question . The Fed doesn't set mortgage rates. The Fed's policy rate applies to overnight loans between large financial institutions. The only way it directly influences mortg... (read more)
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Rob Chrisman
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The Fed Funds futures market sees the Fed holding pat on rates well into 2022. What could cause rates to go up? A vaccine. Until definitive news like that comes along, the financial markets and our home lives steadily move through the calendar. GM is... (read more)
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Housing News
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The Mortgage Bankers Association (MBA) reports that mortgage applications declined during the week ending September 11, 2020. The week's results include an adjustment for the Labor Day holiday. MBA's Market Composite Index, a measure of all mortgage ... (read more)
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Housing News
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Mortgage lenders had an excellent second quarter in terms of profitability according to the Mortgage Bankers Association, and Fannie Mae's Lender Sentiment Survey for the third quarter indicates they expect that situation to continue. Forty-eight per... (read more)
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MBS Commentary
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What Did The Fed Actually Change?
Here are the most notable changes:
The vague notion of symmetric 2 percent inflation has been replaced with a specific goal of "moderately above 2 percent so that it aver... (read more)
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