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

September 29, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Sep 29, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 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 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 10:31PM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 10:31PM EST Other News Pending Sales Post a Surprising Surge Wed, Sep 29, 2021 10:49AM 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 ... (read more) Higher Rates Push Application Volumes Lower Wed, Sep 29, 2021 10:46AM 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, decreased 1.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index was 1 p... (read more) Ops, MLO Jobs; Direct Marketing, Non-QM, TPO, Servicing Products; CECL Primer for Lenders Wed, Sep 29, 2021 10:37AM Why is breakfast in bed “luxurious” but breakfast, lunch, and dinner in bed is labeled “depression?” That’s something to consider. Today there’s so much to consider, I don’t know where to start! It’s a real mix of good news and bad news. First, for anyone estimating where 2022 conforming loan limits will be, ye... (read more) Latest Video Fed's Daly on trading controversy: Want to make sure we are transparent in ... August pending home sales up 8 percent The 9am Bond Report - September 29, 2021 Evergrande selling $1.5 billion stake in its own bank Around the Web CNBC House will vote on a debt ceiling suspension that is doomed in the Senate CNBC Fed Chair Powell calls inflation 'frustrating' and sees it running into next year Calculated Risk Blog Real House Prices, Price-to-Rent Ratio and Price-to-Median Income in July Redfin Housing Market Update: Asking Prices Up 12% to All-Time High CNBC Navient will no longer service federal student loans. What that means for borrowers Calculated Risk Blog NAR: Pending Home Sales Increased 8.1% in August CNBC 'This is not 1973': Economist rules out 'stagflation' and persistent price pressures CNBC 10-year Treasury yield retreats but hovers above 1.51% Calculated Risk Blog A few comments on the Seasonal Pattern for House Prices Reuters Exclusive-JPMorgan's Dimon cautions a U.S. default would be 'potentially catastrophic' Brookings Institution How worried should we be if the debt ceiling isn't lifted? Reuters U.S. consumer confidence hits seven-month low; goods trade deficit widens Calculated Risk Blog Comments on House Prices

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