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 softwood lumber and other building materials pushed down builder sentiment in June," said NAHB Chairman Chuck Fowke, himself a custom home builder. "These higher costs have moved some new homes beyond the budget of prospective buyers, which has slowed the strong pace of home building. Policymakers need to focus on supply-chain issues in order to allow the economic recovery to continue." Derived from a monthly survey that NAHB has been conducting

June 17, 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 17, 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 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) 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) MLO Jobs; Secondary Marketing, SaaS, Purchase Tools; Fannie Addresses NOO and 2nd Home Policy Thu, Jun 17, 2021 11:05AM Fortunately for much of the rest of the United States, lumber prices have been falling since May, hopefully cutting the money required for new construction. Criminals often go to where the money is, and lenders must implement steps to stop wire fraud and to give their client comfort that large sums of money, often their life’s savings, are in good hand... (read more) Latest Video Mortgage rates jump following Fed announcement Market thinks the Fed is on hold: Chris Toomey on Fed raising rates 10-year yield falls below yesterday's post-Fed meeting close Former Fed Governor Fisher: Fed's announcement on rate hike timeline wasn't... Around the Web CNBC Financial advisors shrug off Fed's inflation, interest rate forecasts CNBC Mortgage rates shoot higher after Fed Chairman Powell's comments Calculated Risk Blog Hotels: Occupancy Rate Down 10% Compared to Same Week in 2019 Calculated Risk Blog Phoenix Real Estate in May: Sales Up 33% YoY, Active Inventory Down 54% YoY Reuters Fed is about to shift gears, but this time it may be different Redfin Over Half of Homes Sold Above List Price in May for the First Time On Record CNBC U.S. weekly jobless claims total 412,000, vs 360,000 estimate CNBC Treasury yields fall as investors digest hawkish Fed update The Basis Point Mortgage Rates Spiked Today. Will That Derail Homebuyers In An Already Hot Market? Reuters Bonds stung, dollar cheered by sudden hawkish turn at Fed 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

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