The bidding wars are back . With home prices and sales back to or above pre-crisis levels and the inventory of available homes at records lows, CoreLogic's Shu Chen says that a large and increasing share of homes sold at or above their listing prices in 2017. In September that share was back to early 2004 levels, up almost three times from the 2008 level . Those at-and-above list sales represented more than one-fifth of all transactions. Of course, under the "all real estate is local" rule, there is a wide range in the level of bidding activity. In San Francisco 76 percent of sales were at the asking price or higher , while in Miami only 16 percent of sales reflected pressure from buyer bidding. Of the 16 Core-Based Statistical Areas (out of the 66 CoreLogic tracked) in Figure 2, the top five

January 19, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 19, 2018 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.10 +0.03   97.47 101.61 UMBS 30YR 6.0 102.40 +0.03   99.66 102.50 10 YR Treasury 4.081 -0.002   3.621 4.780 MBS Live Day Ahead: Buyers Still Alive, But Still Waiting to Charge Fri, Jan 19, 2018 9:13AM Yesterday's recap is a good read if you didn't happen to catch it.  Here's a link. In general, there are 2 things going on with rates right now.  1. confirmed uptrend beginning in mid-December and still intact 2. lurking buyers p... (read more) MBS Live Recap: Not The Kind of "Interesting" We Were Looking For Thu, Jan 18, 2018 4:49PM Well... at least things are interesting .  The winter holidays are always a challenge from an analytical and market-watching standpoint.  It seems like a vast oversimplification (indeed, I didn't believe it was true when someone tried to educate me years ago), but "new year momentum" can really be the primary motivation for bond markets.  And... (read more) MBS Price Change UMBS 5.0 99.50 +0.06 UMBS 5.5 101.10 +0.03 UMBS 6.0 102.40 +0.03 GNMA 5.0 99.77 +0.04 GNMA 5.5 101.05 +0.00 GNMA 6.0 102.04 +0.07 Pricing as of: 9/10 5:44AM EST US Treasury Yield Change 2 YR Treasury 3.542 -0.026 5 YR Treasury 3.603 -0.024 7 YR Treasury 3.805 -0.028 10 YR Treasury 4.081 -0.002 30 YR Treasury 4.733 -0.002 Pricing as of: 9/10 5:44AM EST Other News Auction Fever Heats Up Home Sale Prices Fri, Jan 19, 2018 12:44PM The bidding wars are back . With home prices and sales back to or above pre-crisis levels and the inventory of available homes at records lows, CoreLogic's Shu Chen says that a large and increasing share of homes sold at or above their listing prices in 2017. In September that share was back to early 2004 levels, up almost three times from the 2008 level . T... (read more) FHFA Director Watt Weighs in on Financial Reform Debate Fri, Jan 19, 2018 11:30AM Bloomberg News is reporting on a proposal from Federal Housing Finance Agency (FHFA) Director Melvin Watt regarding the future of Fannie Mae and Freddie Mac (the GSEs). The two former companies, which have been in conservatorship under FHFA since 2008, are at the heart of the current debate on housing finance reform. Watt's proposal, titled "Federal Housing ... (read more) Urban Institute Weighs in on the Rent vs. Own Under New Tax Bill Fri, Jan 19, 2018 9:33AM While recently passed Tax Cuts and Jobs Act will benefit the take-home pay of most Americans, and allow them to save up to buy a home if they wish, other factors will offset that benefit . This will make renting look more attractive than homeownership to many. Two analysts, Laurie Goodman and Edward Golding, writing for the Urban Institute (UI) looked at the... (read more) Report From NEXT; Lender and Investor Freddie/Fannie Changes: Part Three Fri, Jan 19, 2018 9:00AM As if we don’t have enough measures of housing and real estate prices, here’s another one. The RE/MAX National Housing Report tells us what most already knew: The median home price rose 8.1% year-over-year, with 50 of the report’s 54 markets posting increases . While we’re at it, and since people seem to like lists, LendingTree ranked... (read more) Latest Video Sen. Chuck Schumer heads to the White House as shutdown looms Here's how rent changed in 2017 in 5 major cities We don't think the market will care if there is a government shutdown: Anal... 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