Is homeownership still the American Dream? Should it be? An article published in the Journal of Economic Perspectives argues while the former has long been the case, one strongly supported by government policy, that has changed. Now there is a growing school of thought that the focus should shift toward other aspects of upward mobility. As the recent changes in the tax code might indicate, government policy is shifting with it, towards a view that homeownership may not be for everyone. The article, written by Laurie Goodman, Vice President of the Urban Institute's Housing Finance Policy Center, and Christopher Mayer, Paul Milstein Professor of Real Estate, at Columbia University, examines US homeownership from three different perspectives. The international perspective compares rates in this

February 14, 2018 Download our Mobile App: Download our Mobile App: Housing News Are Americans and Their Government Undervaluing the American Dream? Is homeownership still the American Dream? Should it be? An article published in the Journal of Economic Perspectives argues while the former has long been the case, one strongly supported by government policy, that has changed. Now there is a growin... (read more) Housing News Mortgage Bankers Association Predicts Sharp Increase in New Home Sales The Mortgage Bankers Association (MBA) is forecasting a sizable jump in new home sales in January. Based on responses to its Builder Application Survey (BAS), MBA estimates that applications for the purchase of newly constructed homes rose 18.4 perce... (read more) MBS Commentary MBS Live Day Ahead: Time For CPI (And The Potentially Big Reaction) CPI has been a big deal since last May.  That's when more than a year of higher, more stable Core CPI first began slipping under 2.0%.  Bond markets reacted with a noticeable rally in response.  When Core CPI fell further in June, the ... (read more) Rob Chrisman New Association in Business; Radian Changes; Flagstar's Ginnie Response Two men are sitting in a bar when Mark Zuckerberg walks in. One of the men says to his friend, “This is awesome! On average, everyone in this bar is worth $20 billion!” It’s important to remember the difference between “mean&r... (read more) Housing News Purchase Mortgage Applications Lose Steam as Rates Rise Purchase mortgage applications, after starting out strong at the beginning of the year, stalled for the third straight time last week, bringing overall activity down. The Mortgage Bankers Association (MBA) reports that its Market Composite Index, a m... (read more) MBS Commentary MBS Live Recap: Bonds Win Without Help From Stocks, But There's a Catch Today was "nice" in the highly charged sense of the word where it's meant to convey a certain acceptability and a certain absence of excellence .  Bonds didn't weaken in any disconcerting way.  They even managed to make some gains--both ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.03 0.00 15 Yr. Fixed 6.05% +0.01 0.00 30 Yr. FHA 6.38% +0.02 0.00 30 Yr. Jumbo 6.91% +0.01 0.00 7/6 SOFR ARM 6.27% +0.02 0.00 30 Yr. VA 6.40% +0.02 0.00 Updates Daily - Last Update: 7/24 15 Yr. Fixed Rate 6.05% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.74% -0.01 0.00 15 Yr. Fixed 5.87% -0.05 0.00 Updates Weekly - Last Update: 7/24 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.31 -0.05 Price / Yield Change MBS UMBS 5.5 99.31 -0.05 UMBS 6.0 101.25 -0.06 GNMA 5.5 99.58 -0.05 GNMA 6.0 101.22 -0.04 Pricing as of: 7/24 7:12PM EST 10 Year US Treasury 4.3982 +0.0145 Price / Yield Change US Treasury 2 YR Treasury 3.923 +0.045 5 YR Treasury 3.960 +0.030 7 YR Treasury 4.164 +0.020 10 YR Treasury 4.398 +0.015 30 YR Treasury 4.939 -0.001 Pricing as of: 7/24 7:12PM EST Latest Video Stocks, bonds react to inflation rise in January Wells Fargo: Market will be hypersensitive to economic reports Fed will continue to tighten once a quarter: Economist Around the Web Bloomberg New Hedge-Fund Tax Dodge Triggers Wild Rush Back Into Delaware CNBC Jump in bond yields signals more Fed rate hikes after biggest inflation jump in 13 years builderonline.com Blackstone Appoints Real Estate Boss Gray as Schwarzman's Successor Reuters Rise in U.S. inflation puts spotlight on Fed's Powell CNBC JP Morgan slashes GDP estimate to 2.5% after 'hotter than Hades' inflation report CNBC Wells Fargo faces grilling from Sen. Warren on bungled fee refunds Freddie Mac Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-F42 CNBC US 10-year yield jumps to new 4-year high after hot inflation report NAHB Eye on Housing Q4 Homeownership Demographics CNBC US business inventories rise more than expected in December CNBC Fed on track to hike rates with hotter inflation data, but weak retail sales raise worries CNBC Key indicator shows inflation surged in January CNBC US retail sales post biggest decline in 11 months

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