Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally adjusted annual rate of 1.572 million, a 3.6 percent improvement on the revised (from 1.569 million) rate of 1.517 million in April. Starts are running 50.3 percent ahead of the rate in May 2020. May's results were slightly lower than expected. Analysts polled by Econoday had a consensus estimate of 1.630 million. The forecasts ranged from 1.500 to 1.735 million. Construction was begun on single-family houses at an annual rate of 1.098 million, a 4.2 percent gain from April's revised rate of 1.054 million and up 49.8 percent year-over-year. The

June 16, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 16, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News May Housing Starts Post Modest Recovery from April's Slump Wed, Jun 16, 2021 10:22AM Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally adjusted annual rate of 1.572 million, a 3.6 percent improvement on the revised (from 1.569 million) rate of 1... (read more) Rising Lumber and Material Costs Put a Dent in Builder Confidence Wed, Jun 16, 2021 8:13AM The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) dropped 2 points in June. The Index, a measure of home builders' confidence in the market for newly built homes, fell to 81, its lowest reading since last August. There was no change in the Index from April to May. "Higher costs and declining availability for softw... (read more) MLO, AE Jobs; Servicing, Sales, TPO, VOI Products; Fannie and Agency Shifts Continue: 3 Instead of 7 Percent NOO Cap? Wed, Jun 16, 2021 10:31AM Broker and Lender Services and Products Faster applications = happier borrowers = loyal customers. VOE+VOIs are an unnecessary pain in the you know what when it comes to processing faster applications. Improve the borrower experience with faster VOE/VOI on Truework- verify income for any U.S. employee on Truework . Truework is now a fully integrated partner ... (read more) Latest Video Chair Powell says Fed needs more data before providing tapering timeline Fed Reserve's Powell on projections: Dot plots are not a great forecaster Expect Fed to begin tapering by the end of 2021 at the earliest, says Allia... Fed leaves interest rates unchanged, increases inflation forecast Around the Web Reuters U.S. fed funds futures raise rate hike chances in early 2023 after Fed statement CNBC The typical home price is up a 'record' 13.2% compared to last year, according to Zillow Calculated Risk Blog FOMC Projections and Press Conference CNBC Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper Calculated Risk Blog California May Housing: Sales up 87% YoY, "Signs of cooling" Reuters U.S. housing starts miss expectations amid higher lumber prices National Associattion of Realtors Instant Reaction: Housing Starts, June 16, 2021 Reuters U.S. housing starts rise less than expected in May; building permits fall Reuters Fed expected to signal start of monetary policy shift debate Redfin Housing-Market Competition Has Eased Slightly, But 7 in 10 Buyers Still Face Bidding Wars CNBC Treasury yields fall slightly despite looming Fed policy verdict CNBC After traders get past this tricky Fed meeting, a confusing second half awaits National Associattion of Realtors Vacation Home Sales Surges During Pandemic

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