Housing permits and starts both reversed their respective two-month slides in June, and both did so convincingly , far outpacing analysts' expectations. Activity was especially strong in the Midwest. The U.S. Census Bureau and the Department of Housing and Urban Development said building permits were issued at a seasonally adjusted annual rate of 1,254,000 units. This is a 7.4 percent jump from the May rate of 1,168,000. June permits were issued at a 5.1 percent higher pace than a year earlier. The permitting number left analysts in the dust. Those polled by Econoday had expected the number to come in between 1.170 million and 1.225 million, with a consensus of 1.206 million. Single family permits were issued at a rate of 811,000, a 4.1 percent month-over-month gain from the May estimate of

July 19, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jul 19, 2017 Mortgage Rates Moderately Lower Tue, Jul 18, 2017 3:45PM Mortgage rates fell today, but continue lagging behind the movements seen in underlying bond markets. Part of that has to do with the timing of bond market swings over the past few days, but lenders also simply want to see markets pick a theme and stick with it. Simply put: trading levels in bonds ultimately dictate rates, and today's trading levels suggest the lowest rates of the month. Given that today's rates are still generally in line with last Friday's, it would be fair to conclude that we'll see more improvement on lender rate sheets, even if bond markets merely hold flat tomorrow. Alth... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.74 +0.01   95.05 99.96 UMBS 30YR 5.5 101.11 +0.02   97.47 101.28 10 YR Treasury 4.023 -0.006   3.932 4.780 MBS Live Day Ahead: Trust The Technicals? Wed, Jul 19, 2017 9:41AM This commentary will begin it's life as the "day ahead" entry for July 19th, 2017, but it may as well be a "knowledge base" entry for the validity of technical analysis.  There are already several knowledge base articles designed to help people ... (read more) MBS Live Recap: Best Day For Bonds Since Late June Tue, Jul 18, 2017 4:45PM If there is one thematic event at the heart of the past 4 weeks, it was a series of comments from European Central Bank (ECB) President Mario Draghi back on June 27th, essentially foreshadowing a winding-down of asset purchases.  In other words, markets quickly began entertaining the idea of a European taper tantrum. The taper tantrum brought import... (read more) MBS Price Change UMBS 4.5 97.75 -0.01 UMBS 5.0 99.74 +0.01 UMBS 5.5 101.11 +0.02 GNMA 4.5 97.76 +0.02 GNMA 5.0 99.98 +0.04 GNMA 5.5 101.01 +0.08 Pricing as of: 10/16 4:32AM EST US Treasury Yield Change 2 YR Treasury 3.492 -0.008 5 YR Treasury 3.612 -0.008 7 YR Treasury 3.797 -0.007 10 YR Treasury 4.023 -0.006 30 YR Treasury 4.616 -0.011 Pricing as of: 10/16 4:32AM EST Other News Housing Starts/Permits Convincingly End Recent Slump Wed, Jul 19, 2017 9:48AM Housing permits and starts both reversed their respective two-month slides in June, and both did so convincingly , far outpacing analysts' expectations. Activity was especially strong in the Midwest. The U.S. Census Bureau and the Department of Housing and Urban Development said building permits were issued at a seasonally adjusted annual rate of 1,254,000 u... (read more) Mortgage Apps Bounce Back After Holiday Losses Wed, Jul 19, 2017 8:24AM Mortgage application volume bounced back during the week ended July 14, following a sharp downturn a week earlier. That week had been shortened by the Independence Day holiday. The Mortgage Bankers Association said its Market Composite Index, a measure of that volume, rose 6.3 percent on a seasonally adjusted basis compared to the prior week, and was up 33 p... (read more) Upcoming Events; Disaster Updates; Yield Curve Flattening Wed, Jul 19, 2017 9:50AM In a broad generalization, when people have money to invest they usually think about stocks, bonds, or real estate. (Yes, I know there are other assets, like precious metals, restaurants, your sister-in-law’s nail salon…) Looking at real estate, if a home builder is going to spend large sums on land, labor, and permits, they want to be able to c... (read more) Latest Video Budget battle rages on the Hill Mortgage applications jump 6.3% as borrowers rush to refinance Santelli Exchange: James Grant on central banks' candor Around the Web Market Watch More Americans are renters now than at any time in the last 50 years NAR - Realtor.com Suburban Poverty Is Growingand It's Affecting Housing Markets Reuters U.S. judge allows VW bondholder suit to continue Bloomberg Corporate Bond Traders Play Chicken Calculated Risk Blog Comments on June Housing Starts Bloomberg Debt Ceiling Concerns Start to Surface in Treasury Bills consumerfinancemonitor.com CFPB provides additional HMDA reporting guidance NAR - Realtor.com New Home Construction Is Finally RisingWhat That Means for Buyers Calculated Risk Blog AIA: Architecture Billings Index positive in June CNBC That 30-year mortgage might not be your best option CNBC Crash in bond markets, Fed mistake are investors' biggest fears right now, survey finds CNBC ECB to hold steady this week as traders eye a September taper' of its bond-buying program CNBC Luxury home sales jump in New York's Hamptons

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