The Mortgage Bankers Association (MBA) is predicting a strong increase in new home sales in March. Its Builder Application Survey (BAS), conducted with mortgage subsidiaries of new home builders, found applications for new home purchase mortgages were up 14 percent from February. They still lagged those from a year earlier by 2.6 percent. Those numbers do not include any adjustment for typical seasonal patterns. Using that information as well as other data regarding market coverage, MBA estimates there were 65,000 newly constructed homes sold during the month. This would be an increase of 18.2 percent from the 55,000 new home sales in February. The MBA says its data indicates new single-family home sales were running at a seasonally adjusted annual rate of 682,000 units in March 2018. This

April 12, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Apr 12, 2018 Mortgage Rates Inch Down to 2-Month Lows Wed, Apr 11, 2018 3:16PM Mortgage rates technically hit the lowest levels in 2 months today. The catch is that they were already pretty close and that today's improvement wasn't necessarily that big. In fact, most borrowers will see the same interest rate in today's quotes with the only difference being a slight adjustment in upfront costs/credits. We'd been waiting somewhat eagerly for today's Consumer Price Index (CPI)--a key inflation report with a consistent track record (at least in the past year) of causing movement for rates. When CPI is stronger than expected, rates tend to rise. When it's weaker, rates fall--... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.22 -0.06   97.47 101.61 UMBS 30YR 6.0 102.47 -0.07   99.66 102.50 10 YR Treasury 4.065 +0.026   3.621 4.780 MBS Live Day Ahead: Apart From Speculation, All We Have Are These Technical Levels Thu, Apr 12, 2018 9:32AM On a week where the calendar of events had every right to push bond yields more decisively away from their most important recent technical level (2.795% in 10yr yields), we've instead seen a narrow consolidation centered on that same indecisive techn... (read more) MBS Live Recap: This Week is Getting Crazy Flat Wed, Apr 11, 2018 6:37PM Bonds were set to begin the day in fairly unchanged territory when Trump tweeted about launching missiles at Syria and forcing Russia to try to shoot them down (here).  That was initially of some benefit to bonds just before the start of the domestic session, but it didn't create any lasting momentum.  After all, bonds still had to get through al... (read more) MBS Price Change UMBS 5.0 99.70 -0.08 UMBS 5.5 101.24 -0.04 UMBS 6.0 102.48 -0.06 GNMA 5.0 100.02 -0.05 GNMA 5.5 101.19 +0.00 GNMA 6.0 102.13 -0.05 Pricing as of: 9/9 7:01AM EST US Treasury Yield Change 2 YR Treasury 3.499 +0.011 5 YR Treasury 3.576 +0.014 7 YR Treasury 3.784 +0.016 10 YR Treasury 4.061 +0.022 30 YR Treasury 4.719 +0.029 Pricing as of: 9/9 7:01AM EST Other News MBA Predicts New Home Sales Up in March Thu, Apr 12, 2018 12:20PM The Mortgage Bankers Association (MBA) is predicting a strong increase in new home sales in March. Its Builder Application Survey (BAS), conducted with mortgage subsidiaries of new home builders, found applications for new home purchase mortgages were up 14 percent from February. They still lagged those from a year earlier by 2.6 percent. Those numbers do no... (read more) Tax Cut Effects on Housing Still Debatable Thu, Apr 12, 2018 11:17AM As Americans are nearing the deadline to file their 2017 federal income tax return, what this will put on their 2018 return is still open to debate. The effects of the Tax Cuts and Jobs Act, passed by Congress in December was, in the words of CoreLogic's chief economist Frank Nothaft, "the largest change to the U.S. tax code in more than three decades ," one... (read more) Cyber Training and Data Security Workshop; Nationstar Documentation Penalty Thu, Apr 12, 2018 9:11AM This commentary posts plenty of job opportunities. I have a site – www.LenderNews.com – where folks can post resumes for free (under “services) and companies can view them. What about the flip side? People are fired every day, from every position, for every reason. Is it the end of the line? Absolutely not, and it can be a great new start, ... 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