Freddie Mac's economists say, "The broader economic environment remains favorable for home sales," but they add a lot of caveats to that statement . Sales are holding up so far, despite the increase in mortgage rates, but will that continue? Sales started recovering in 2010, with the aggregate of new and existing sales growing annually except for 2014; largely because rates rose that year. Rates are not necessarily the only driver, however, from 2016 to 2017 home sales rose along with rates. Of course, sales depend on the interaction between demand- and supply-side factors. Demand factors include demographics, labor market outcomes, and financing conditions including rates and the availability of credit. Among supply factors are the construction of new homes, vacancy rates, and the inventory

April 23, 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 23, 2018 NOW Mortgage Rates Are at 4-Year Highs Mon, Apr 23, 2018 4:49PM Mortgage rates moved markedly higher today, officially leaving them at new 4-year highs. The only other time they've earned that distinction this year was in February--NOT last week as all the major surveys claimed. To be clear, they were certainly close last week, but the surveys didn't account for some of the worst individual days in February. Does any of this really matter? No, not so much. Here's what matters: The average lender is quoting very well-qualified borrowers with huge downpayments something north of 4.5% on conventional 30yr fixed mortgages today. Let's call it 4.625%. Up until ... (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 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Week Ahead: 10yr at 3%: The Most Overrated--Possibly Even Meaningless--Ceiling Mon, Apr 23, 2018 9:03AM I'm going to be surly this week about the way the bond market is covered in the financial media.  Many of the articles to which I take exception will appear in the live news stream on MBS Live and Mortgage News Daily.  They are there for re... (read more) MBS Live Recap: Bonds Surge to Weakest Levels since 2014 Fri, Apr 20, 2018 5:14PM 10yr yields hit the highest levels in more than 4 years this afternoon as bigger-picture selling pressure looks to be taking the reigns back from the Springtime consolidation that helped rates hold steady-to-slightly lower in March.  There are no big, obvious reasons for the sudden spike in rates. We're left to cobble together a narrative from bor... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 7:06PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 7:06PM EST Other News Freddie Mac Forecast: Lots of "Ifs" and "Buts" Mon, Apr 23, 2018 2:09PM Freddie Mac's economists say, "The broader economic environment remains favorable for home sales," but they add a lot of caveats to that statement . Sales are holding up so far, despite the increase in mortgage rates, but will that continue? Sales started recovering in 2010, with the aggregate of new and existing sales growing annually except for 2014; large... (read more) Existing Home Sales Beat Headwinds, Score Small Gains Mon, Apr 23, 2018 10:56AM Existing-home sales seemed to have reclaimed their footing, posting their second consecutive gain after two straight months of declines. The National Association of Realtors® (NAR) said March sales of single-family homes, townhomes, condos, and coops rose 1.1 percent compared to February, putting sales at a seasonally adjusted annual rate of 5.60 million... (read more) Events and Webinars; GDP Primer; Rates at 2014 Levels Mon, Apr 23, 2018 9:12AM “A billion here, a billion there, pretty soon, you’re talking real money,” was never actually uttered by Illinois politician Everett Dirksen. ("Oh, I never said that. A newspaper fella misquoted me once, and I thought it sounded so good that I never bothered to deny it.") The big news late Friday was the CFPB & OCC announcing a settleme... (read more) Latest Video Trading Nation: The rate debate Existing home sales up 1.1% in March US 10-Year nears 3% Around the Web CNBC Tax bill will slash by half the number of homeowners claiming the mortgage deduction Calculated Risk Blog Phoenix Real Estate in March: Sales up 3%, Inventory down 13% YoY CNBC 'Bond King' Gundlach says closing above 3% on 10-year yield will spark even higher rates The Basis Point First Time Homebuyer Costs Up 9% In Last Year: TABLE consumerfinancemonitor.com Bill to Require Issuance of Guidance by CFPB Introduced in House Fannie Mae Fannie Mae Announces Updates to its Mortgage-Backed ... Calculated Risk Blog A Few Comments on March Existing Home Sales Freddie Mac Freddie Mac Names Sam Khater Vice President and Chief Economist Bloomberg Morgan Stanley Expects 10-Year Yield Below 2.5% by Year End blog.stewart.com State Employment Performance- March 2018 Calculated Risk Blog Chicago Fed "Index points to a moderation in economic growth in March" CNBC The 10-year Treasury yield could be about to hit 3 percent here's why this matters NAR - Realtor.com 10 Surprising Cities Where Bidding Wars Are Booming

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