Pending home sales rebounded in August after falling in both June and July. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), based on contracts signed for the purchase of existing homes, rose 8.1 percent from the July level. This put the PHSI at 119.5, still down 8.3 percent from its 130.3 reading in August 2020. The surge was not one analysts had expected. Those polled by Econoday expected only an 0.9 percent improvement. Trading Economic's consensus was a 1.4 percent rise. "Rising inventory and moderating price conditions are bringing buyers back to the market," said Lawrence Yun, NAR's chief economist. "Affordability, however, remains challenging as home price gains are roughly three times wage growth." He added that such an imbalance in the market

October 1, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman MLO Jobs; Loan Products; Purchase, CU, Servicing, Warehouse Tools; FHA and USDA Moves; Rates Treading Water Although most states don’t “fall back” and change the clocks until November 7th, losing 3-4 minutes of daylight a day is now readily apparent, and it’s that time of year again when Thriller ” starts appearing on radio pl... (read more) Housing News Pending Sales Post a Surprising Surge Pending home sales rebounded in August after falling in both June and July. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), based on contracts signed for the purchase of existing homes, rose 8.1 percent from ... (read more) Housing News Higher Rates Push Application Volumes Lower Mortgage application volume edged slightly lower during the week ended September 24 , with purchase and finance applications sharing in the dip. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreas... (read more) Mortgage Rates Mortgage Rates Finally Catch a Break 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries MBS Live Recap: Modestly Strong, Uneventful Trading Day, Version 3 UMBS 30YR 5.5 100.02 -0.05 Price / Yield Change MBS UMBS 5.5 100.01 -0.06 UMBS 6.0 101.65 -0.02 GNMA 5.5 100.09 -0.10 GNMA 6.0 101.49 -0.01 Pricing as of: 6/30 9:46PM EST 10 Year US Treasury 4.2260 +0.0014 Price / Yield Change US Treasury 2 YR Treasury 3.727 +0.012 5 YR Treasury 3.798 -0.006 7 YR Treasury 3.990 -0.001 10 YR Treasury 4.226 +0.001 30 YR Treasury 4.768 -0.008 Pricing as of: 6/30 9:46PM EST Latest Video The 2pm Bond Report - October 1, 2021 Infrastructure bill could get smaller after negotiations, but will still be... The 9am Bond Report - October 1, 2021 ISM Manufacturing Index jumps to 61.1, beating estimates Around the Web Calculated Risk Blog As Forbearance Ends CNBC House infrastructure vote on hold as Democrats try to craft a bigger spending deal Calculated Risk Blog Q3 GDP Forecasts: More Downgrades Calculated Risk Blog ISM Manufacturing index increased to 61.1% in September Calculated Risk Blog Construction Spending unchanged in August Calculated Risk Blog Personal Income increased 0.2% in August, Spending increased 0.8% CNBC Treasury yields fall ahead of key inflation data CNBC Euro zone inflation hits highest level in 13 years as energy prices soar Fannie Mae Another Step to Unlock Homeownership for Underserved Borrowers Calculated Risk Blog Hotels: Occupancy Rate Down 11.0% Compared to Same Week in 2019 CNBC Congress moves to prevent a government shutdown with deadline hours away CNBC Weekly jobless claims total 362,000 above 335,000 estimate Reuters Analysis-U.S. Fed navigates policy minefield with impending digital dollar report

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