After three solid months of new home sales, some give-back could only be expected ; exactly what happened in December. The Census Bureau and the Department of Housing and Urban Development report that sales of newly constructed homes fell 9.3 percent in December. The seasonally adjusted annual rate of 625,000 was down 9.3 percent from the November revised estimate. That still left the December sales up a healthy 14.1 percent higher than sales in December 2016. What probably hurt more than the slowing sales in December was the November revision . The original estimate, 733,000, was not only unexpected, but represented what would have been the highest rate of sales since the housing crash. The month's sales are now estimated at 689,000. Analysts had been looking for a rollback but had expected

January 25, 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 25, 2018 Mortgage Rates Can't Catch a Break Wed, Jan 24, 2018 3:34PM After taking just one day off from the prevailing move higher, mortgage rates were back at it today, heading back to the worst levels in more than 9 months. The average lender is now back in line with the highs seen 2 days ago on Monday afternoon. Over slightly longer time-frames, rates have risen an eighth of a percentage point since last week, a quarter of a point from 2 weeks ago, and 3/8ths of a point since mid December. That makes this the worst run since the abrupt spike following 2016's presidential election. Unfortunately, this trend won't necessarily stop simply because things have "g... (read more) 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: Bond Patterns Repeating as ECB Stays The Course Thu, Jan 25, 2018 8:49AM Corrections are one of the trading themes we frequently discuss when there is broader momentum in either direction.  In its simplest form, a correction can be thought of as a short trend (2-4 days) that points in the opposite direction from pre... (read more) MBS Live Recap: Bonds Back to Weaker Ways After 1-Day Break Wed, Jan 24, 2018 4:27PM Yesterday was nice while it lasted.   Against a sea of redness, it stood out like a beautiful green shoreline.  Unfortunately, that shoreline turned out to belong to an island and that island was quickly swallowed up by the angry red sea.  OK, so it wasn't quite that dramatic, but close! The weakness began right at the start of the overnigh... (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 5:48AM EST US Treasury Yield Change 2 YR Treasury 3.542 -0.026 5 YR Treasury 3.604 -0.023 7 YR Treasury 3.805 -0.027 10 YR Treasury 4.081 -0.002 30 YR Treasury 4.733 -0.002 Pricing as of: 9/10 5:48AM EST Other News Rough Finish to a Strong Year for New Home Sales Thu, Jan 25, 2018 10:45AM After three solid months of new home sales, some give-back could only be expected ; exactly what happened in December. The Census Bureau and the Department of Housing and Urban Development report that sales of newly constructed homes fell 9.3 percent in December. The seasonally adjusted annual rate of 625,000 was down 9.3 percent from the November revised es... (read more) Best Year For Home Sales Since 2006, Despite Headwinds Wed, Jan 24, 2018 11:22AM Despite a poor showing in December , existing home sales in 2017 were the best levels in 11 years. The National Association of Realtors® (NAR) said the finished with 5.51 million sales of existing single-family homes, townhomes, condos, and cooperative apartments. This edged out, by 1.1 percent, the 5.45 million sales in 2016 to have the highest number o... (read more) Down Payment Study; The "New" CFPB; Solid Housing and Lending Stats Thu, Jan 25, 2018 9:13AM Yes, rates have gone up, but residential applications have been up for three straight weeks. There is little denying that employment, housing, and the overall economy is doing well. (Yes, Toys R Us is closing 182 stores, but supposedly due to the shift in retail preferences.) And there is no denying that, despite all the smiles and congeniality at conference... (read more) Latest Video December new home sales fall to 625,000 annual rate German bund yields pop after ECB interest rate announcement Here's how rising rates and inflation will impact equities Around the Web Freddie Mac Freddie Mac Issues Monthly Volume Summary for December 2017 CNBC Bill Miller: A rush out of bonds is about to 'propel stocks significantly higher' CNBC Retail investors make massive move into bond funds just as smart money says bonds going down CNBC Trump: I would reconsider massive Pacific trade deal if it was 'substantially better' Calculated Risk Blog A few Comments on December New Home Sales Reuters ECB hits out at Washington for talking down the dollar Brookings Institution Hutchins Roundup: Health and earnings, Quantitative Easing as conventional policy, and more Calculated Risk Blog Kansas City Fed: Regional Manufacturing Activity "Growth Strengthened Further" in January CNBC Leading indicators gain in Dec., expected to continue momentum due to tax reform Freddie Mac Mortgage Rates Jump Again Freddie Mac Freddie Mac Prices $1.1 Billion Multifamily K-Deal, K-072 Redfin Luxury Home Prices Up 7 Percent in the Fourth Quarter Calculated Risk Blog Weekly Initial Unemployment Claims increase to 233,000

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