Congress has once again snatched the National Flood Insurance Program (NFIP) away from its scheduled demise while setting the stage for needing to do it again. The program, which was due to expire at midnight on Tuesday, was extended for another four months. It was merely the latest is a series of delaying actions while someone, somewhere, figures out how to make the program actually work. Had the program expired, the Federal Emergency Management Agency (FEMA) which administers it would have been unable to issue new policies. This would have prevented on the sale of houses in specified flood zones that were to be financed by any federally guaranteed mortgages. The National Association of Realtors earlier estimated that some 40,000 home sales would be disrupted if the program were allowed to

July 31, 2018 Download our Mobile App: Download our Mobile App: Housing News Congress Votes to Keep Flood Insurance on Life Support for 4 More Months Congress has once again snatched the National Flood Insurance Program (NFIP) away from its scheduled demise while setting the stage for needing to do it again. The program, which was due to expire at midnight on Tuesday, was extended for another four... (read more) Housing News Will We Be Ready When Boomers Exit Homeownership? Baby Boomers, the largest generation of Americans in history until the Millennials came along, have influenced the country since their birth and have created what could be described as a pig in a python in homeownership rates . They are ageing, the l... (read more) Housing News Home Price Gains are Beginning to Hurt Sales The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index put on a repeat performance for May. The index, which covers all nine U.S. census divisions, was up 6.4 percent, the same annual increase as was reported in April. There was a slig... (read more) Rob Chrisman Digital Products; Legal News and Lawsuits; Layoffs and Promotions When I was in my 20s and into my 30s, I think I had about $3,000 in my retirement account - hardly enough now to even pay for the line-caught salmon for my cat Myrtle for a year. But in down payment news CNBC is telling us that people in that age gro... (read more) MBS Commentary MBS Live Day Ahead: "Japan Effect" Tested; Torch Passed to Month-End Over the past 2 weeks, there has been quite a lot of speculation on the effects of Japanese monetary policy communications on US Treasuries.  I've mentioned these in passing, but haven't really spent too much time on it because I didn't happen... (read more) MBS Commentary MBS Live Recap: Fairly Slow: Risks and Opportunities Remain For a week with so much on the calendar and so much at stake, today got things off to a fairly slow start.  That's not entirely surprising, given that it had the least going for it in terms of scheduled events.  It also happened to be a M... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 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 99.38 -0.13 Price / Yield Change MBS UMBS 5.5 99.38 +0.02 UMBS 6.0 101.31 0.00 GNMA 5.5 99.65 +0.02 GNMA 6.0 101.28 +0.01 Pricing as of: 7/23 9:09PM EST 10 Year US Treasury 4.3843 +0.0383 Price / Yield Change US Treasury 2 YR Treasury 3.880 +0.002 5 YR Treasury 3.932 +0.002 7 YR Treasury 4.142 -0.001 10 YR Treasury 4.383 0.000 30 YR Treasury 4.939 -0.001 Pricing as of: 7/23 9:09PM EST Latest Video CNBC Fed Survey: 83% say Trump's comments on Fed policy are inappropriate Santelli Exchange: Central bank balance sheets Chicago PMI at 65.5 in July Around the Web NAR - Realtor.com Young People Don't Want Construction Jobs. That's a Problem for the Housing Market. Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in May Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices CNBC Rising Risks: More intense flash floods hit overdeveloped real estate, destroying small-town America Bloomberg US, China Said to Aim to Restart Talks to Defuse Trade War CNBC Consumer confidence hits 127.4 in July, vs. 126.5 estimate Bloomberg US Employment Costs Increase From Year Ago by Most Since 2008 Calculated Risk Blog Personal Income increased 0.4% in June, Spending increased 0.4% Reuters Fed set to hold interest rates steady, remains on track for more hikes Reuters Bonds gain, yen falters as BOJ pledges to keep rates low Reuters China's July manufacturing growth slows on trade dispute, softer domestic demand Bloomberg Treasury Raises Borrowing Outlook With Second-Half Projection Hitting $769 Billion CNBC Insane things people will or won't do for a free home

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