Residential construction numbers were mixed in October. The U.S. Census Bureau and Department of Housing and Urban Development report an increase in construction permits but a small decline in construction starts. Overall, however, both single-family and multi-family production are running well ahead of their 2020 results. Permits for residential construction were issued at a seasonally adjusted annual rate of 1.650 million compared to 1.586 million in September, an increase of 4.0 percent. The September rate was a slight downward adjustment from the 1.589 million units originally reported. The October permit rate was 3.4 percent above the pace in October 2020. Permitting activity was at the top of the range of forecasts from analysts polled by Econoday. Those estimates ranged from 1.585 to

November 17, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Nov 17, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 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 99.58 +0.13   95.05 100.11 UMBS 30YR 5.5 101.09 +0.09   97.47 101.40 10 YR Treasury 4.088 -0.021   3.932 4.780 MBS Price Change UMBS 4.5 97.53 +0.11 UMBS 5.0 99.58 +0.13 UMBS 5.5 101.09 +0.09 GNMA 4.5 97.53 +0.02 GNMA 5.0 99.80 +0.15 GNMA 5.5 100.88 +0.08 Pricing as of: 11/4 8:19AM EST US Treasury Yield Change 2 YR Treasury 3.576 -0.033 5 YR Treasury 3.697 -0.027 7 YR Treasury 3.881 -0.025 10 YR Treasury 4.090 -0.019 30 YR Treasury 4.674 -0.019 Pricing as of: 11/4 8:19AM EST Other News Housing Starts Flatten, Permits Promise Future Improvement Wed, Nov 17, 2021 10:31AM Residential construction numbers were mixed in October. The U.S. Census Bureau and Department of Housing and Urban Development report an increase in construction permits but a small decline in construction starts. Overall, however, both single-family and multi-family production are running well ahead of their 2020 results. Permits for residential constructio... (read more) Refinancing Loses Steam After One Week Surge Wed, Nov 17, 2021 10:26AM After its 5.8 percent jump the previous week, the Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of mortgage application volume, fell back during the week ended November 12 as rates ticked higher. The index fell 2.9 percent on a seasonally adjusted basis and was down 4 percent before adjustment. As was the surge the prior week, the ... (read more) Jumbo, Pricing Tools; nCino/SimpleNexus $1.2 billion Deal; Events to Wrap up November Wed, Nov 17, 2021 10:39AM 29 working/business days left in 2021. Some MLOs, who can shift their client’s refi closings, are thinking about the tax implications of closing this year or next. Everyone is dealing with seasonal purchase slowdowns, appraisal bottlenecks, lower margins, higher marketing spending, no overtime. Lenders are interested in optimizing their technology, wor... (read more) Latest Video Consumers are still using their homes and their houses as ATMs, says CAPTRU... Refinance demand drops as mortgage rates rise The 9am Bond Report - November 17, 2021 Rents for single-family homes skyrocket Around the Web CNBC Lowe's sees sales growth by helping baby boomers stay in their homes Zillow Zillow October 2021-October 2022 Home Value & Sale Forecast Reuters Biden likely to make decision on Fed chair before Thanksgiving -White House Calculated Risk Blog AIA: "Demand for design services moderates but remains strong" in October Calculated Risk Blog Most Housing Units Under Construction Since 1974 Calculated Risk Blog Housing Starts Decreased to 1.520 Million Annual Rate in October Redfin Second-Home Demand Rose 70% From Pre-Pandemic Levels in October CNBC Ignore 'hysterical people' inflation is not here to stay, economist says CNBC Lowe's beats estimates, raises sales forecast amid stronger housing market CNBC U.S. Treasury yields dip on Wednesday ahead of fresh data Calculated Risk Blog October California Home Sales National Associattion of Realtors Housing Affordability Conditions Unchanged in September CNBC Homebuilder confidence surges past expectations, as buyer demand remains high

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