April turned out to be a solid month for construction . The Census Bureau said that dollar value of new construction activity on residential, non-residential, and public projects was at a seasonally adjusted and annual total of $1.31 trillion. This represented a 1.8 percent increase from March's total of 1.29 trillion and was 7.6 percent higher than the $1.22 trillion rate in April 2017. The result was better than anticipated. Analysts polled by Econoday had expected the numbers to improve from the 1.7 percent decline in March but were looking at a consensus estimate of 0.8 percent. The range of estimates was 0.5 to 2.0 percent. On a non-adjusted basis, the total spent during the month was $106.74 billion compared to $99.99 billion in March. Spending for the first four months of 2018 totaled

June 1, 2018 Download our Mobile App: Download our Mobile App: Housing News Residential and Private Construction Numbers Solid in April April turned out to be a solid month for construction . The Census Bureau said that dollar value of new construction activity on residential, non-residential, and public projects was at a seasonally adjusted and annual total of $1.31 trillion. This r... (read more) Rob Chrisman FHA Portfolio Case Study; Ginnie Mae Changes Cause Confusion Whenever I mention changes in LO compensation versus changes in lender profit margins, my cat Myrtle seems entirely disinterested. (Come to think of it, aside from salmon leftovers and near-sighted plump lizards, Myrtle spends much of every day being... (read more) MBS Commentary MBS Live Day Ahead: Bonds Start at Disadvantage As Europe Reacts to Yesterday The timing and nature of yesterday's Italian headlines created a fair amount of risk for bond markets today.  As we discussed yesterday (in the Huddle and the Recap, for instance), Europe didn't get much of a chance to trade news that likely s... (read more) Mortgage Rate Watch Mortgage Rate Volatility Remains a Risk Mortgage rates were effectively unchanged today, despite political developments in Italy providing plenty of justification to move higher. Specifically, Italian lawmakers found a way to move forward with staffing a new coalition government despite an... (read more) Housing News "Dire" Supply Levels Pull Pending Home Sales Lower Pending home sales, like both new and existing home sales reported earlier this month, posted an April loss. The National Association of Realtors® said its Pending Home Sales Index (PHSI) declined 1.3 percent in April , down from its March readin... (read more) MBS Commentary MBS Live Recap: Disconcertingly Decent Day For Bonds Today brought resolution (probably) for a problem that had been greatly benefiting bonds and rates.  Earlier this week, the prospect of snap elections in Italy threatened to stand as a de facto referendum on the country's EU membersh... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.70 -0.15 Price / Yield Change MBS UMBS 5.5 99.70 -0.15 UMBS 6.0 101.46 -0.11 GNMA 5.5 99.89 -0.08 GNMA 6.0 101.19 -0.22 Pricing as of: 7/3 10:44AM EST 10 Year US Treasury 4.3314 +0.0516 Price / Yield Change US Treasury 2 YR Treasury 3.873 +0.085 5 YR Treasury 3.926 +0.059 7 YR Treasury 4.112 +0.056 10 YR Treasury 4.331 +0.051 30 YR Treasury 4.848 +0.039 Pricing as of: 7/3 10:44AM EST Latest Video US tariffs on Canada, Mexico and EU take effect ISM manufacturing index at 58.7 in May May jobs up 223,000 Around the Web Bloomberg It's 2007 Again for Commercial Mortgage Bonds, Moody's Says Calculated Risk Blog Comments on May Employment Report Bloomberg For Sale: A New Home Built by Your Local Private Equity Firm Reuters ECB's Deutsche Bank defense shows concern and irritation Brookings Institution Inside America's oil boom Reuters Italy's Conte sworn in as PM of anti-establishment government Reuters EU lawmakers from Italy's coalition parties seek funds to quit euro ncua.gov Board Approves Changes to Member Business Lending Rule CNBC ISM manufacturing index hits 58.7 in May; construction spending up 1.8% in April Reuters Traders boost bets on Fed interest rate rises CNBC May auto sales mixed for US carmakers Bloomberg Bund Options Bet Eyes $100 Million Payout on Euro-Area Cataclysm CNBC Nonfarm payrolls increase by 223,000 in May, vs 188,000 estimate

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