That applications for mortgages to purchase newly constructed homes rose 30.8 percent in April compared to a year ago is not a particularly useful piece of data given the state the global economy was enduring in April 2021. However, it is good news that the Mortgage Bankers Association (MBA) estimates that new home sales are expected to increase by 8 percent when the April numbers are published. MBA says its estimate of new home sales at an annualized rate of 770,000 units means an end to a two-month slump but, while strong, it is still below the 877,000 unit pace at the end of last year. Mortgage applications were also down month-over-month by 9 percent. The change in application volume does not include any adjustment for typical seasonal patterns. Joel Kan, MBA's Associate Vice President

May 14, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for May 14, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.29 +0.00   97.47 101.61 UMBS 30YR 6.0 102.41 -0.04   99.66 102.50 10 YR Treasury 4.027 -0.014   3.621 4.780 MBS Price Change UMBS 5.0 99.96 +0.05 UMBS 5.5 101.27 -0.03 UMBS 6.0 102.41 -0.04 GNMA 5.0 100.23 -0.02 GNMA 5.5 101.23 +0.00 GNMA 6.0 101.93 -0.06 Pricing as of: 9/16 3:52PM EST US Treasury Yield Change 2 YR Treasury 3.504 -0.033 5 YR Treasury 3.581 -0.019 7 YR Treasury 3.768 -0.024 10 YR Treasury 4.023 -0.017 30 YR Treasury 4.643 -0.018 Pricing as of: 9/16 3:52PM EST Other News Next New Home Sales Report Should End Slump -MBA Thu, May 13, 2021 4:40PM That applications for mortgages to purchase newly constructed homes rose 30.8 percent in April compared to a year ago is not a particularly useful piece of data given the state the global economy was enduring in April 2021. However, it is good news that the Mortgage Bankers Association (MBA) estimates that new home sales are expected to increase by 8 percent... (read more) Mortgage Application Volume Revs Up For The First Time Since April Wed, May 12, 2021 10:35AM Mortgage application volume rose for the first time since mid-April last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 2.1 percent on a seasonally adjusted basis during the week ended May 7 and was 2.0 percent higher on an unadjusted basis. The Refinance Index gained 3 percent from the previ... (read more) Underwriting, MLO Jobs; DPA, Non-QM, Customer Service Tools; Misc. Company News Indicates Trends Fri, May 14, 2021 10:20AM Let me start Friday with an apology… to Alaska. (I thought I saw an eye doctor on an Alaskan island, but it turned out to be an optical Aleutian.) Julie Moore (with Alaska USA Federal Credit Union) pointed out that, given my note yesterday about Jacksonville, FL being the largest city in the U.S., “While Jacksonville might be the largest city by... (read more) Latest Video The 2pm Bond Report - May 14, 2021 Consumer sentiment index comes in at 82.8 for May, missing expectations Industrial production rose 0.7% in April vs 0.8% increase expected The 9am Bond Report - May 14, 2021 Around the Web Reuters U.S. stocks extend recovery; dollar, bond yields dip Calculated Risk Blog LA Area Port Traffic: Strong Imports in April Calculated Risk Blog Q2 GDP Forecasts: Around 10% Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decreased Redfin Almost Three-Quarters of Home Offers Written By Redfin Agents Faced Bidding Wars In April Calculated Risk Blog Industrial Production Increased 0.7 Percent in April Reuters U.S. retail sales unchanged in April Reuters World stocks up, dollar dips as Fed officials calm inflation fears CNBC Treasury yields fall ahead of retail sales data Reuters U.S. stocks rebound following rout, bond yields dip Calculated Risk Blog Sacramento Real Estate in April: Sales up 52% YoY, Active Inventory down 45% YoY CNBC Economist calls for calm on inflation talk: 'Everything ultimately will settle down' National Associattion of Realtors Single-Family Home Prices Rose in 99% of Metro Areas in 2021 Q1

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