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New homes sales managed a small increase in December following three months of losses including a substantial downturn in November. The U.S. Census Bureau and the Department of Housing and Urban Development reported that sales of newly built homes were at a seasonally adjusted annual rate of 842,000 units. This is a 1.6 percent increase from the downward revision of the November estimate. The revision downgraded those sales from an annual rate of 841,000, a 11.0 percent decline, to 829,000. The December rate of sales represents 15.2 percent year-over-year growth. Analysts had expected a better recovery from the November loss. Those polled by Econoday had predicted sales would be in the range of 822,000 to 934,000. Their consensus was 871,000 units. On a non-adjusted basis there were 55,000
Rob Chrisman
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The stock price of American Airlines back to February 2020 levels. Investors seem to be “buying hope.” In Mortgage Land, though I am beginning to hear tales of pricing margins dropping slightly, if you’re a lender and it takes your ... (read more)
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Housing News
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New homes sales managed a small increase in December following three months of losses including a substantial downturn in November. The U.S. Census Bureau and the Department of Housing and Urban Development reported that sales of newly built homes we... (read more)
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MBS Commentary
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Why Are We Losing Ground Today and What's The Implication?
Due to its timing and size, today's bond market weakness may suggest the short-term rally is reversing course. One single day of selling is usu... (read more)
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Housing News
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The Acting Secretary of the Department of Housing and Urban Development (HUD) has announced an extension of the deadline for borrowers with FHA mortgage loans to apply for and receive forbearance. Matthew Ammon said up to six months of deferred or re... (read more)
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Housing News
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It probably wasn't on your COVID Bingo card, but the National Association of Home Builders (NAHB) is finding more and more evidence that the pandemic is changing America's home buying plans . Rose Quint writes in NAHB's Eye on Housing Blog that the p... (read more)
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Mortgage Rate Watch
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Mortgage rates were mixed to slightly higher today, depending on the lender. "Higher" is a relative term, in this case as the average loan seeker is unlikely to see much of a difference between yesterday's quotes and today's. Even then, the changes w... (read more)
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