Home prices grew by an estimated 0.4 percent in November according to CoreLogic's Home Price Index (HPI) and were 5.1 percent higher than at the end of November 2017. These figures indicate a significant slowdown in the rate of appreciation nationally over the past year. The company reported a 1.0 percent gain for the month of November 2017 and, at that point, prices were up 7.0 percent year-over-year. CoreLogic's chief economist Frank Nothaft said, "The rise in mortgage rates has dampened buyer demand and slowed home-price growth. Interest rates for new 30-year fixed-rate loans averaged 4.9 percent during December, the highest monthly average since February 2011. These higher rates and home prices have reduced buyer affordability. Home sellers are responding by lowering their asking price

January 2, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jan 2, 2019 Mortgage Rates End Year on Strong Note Mon, Dec 31, 2018 2:05PM Mortgage rates moved lower again today--this time in a slightly more noticeable way. More than anything, this was a reflection of last Friday's market movement, which lenders were hesitant to pass along on their rate sheet offerings ("market movement" + "lender-specific factors" = mortgage rates). As of Friday, the average lender was offering the best rates since August. As of today, we're seeing the best rates since April. In other words, the year is ending with the best rates in 8 months. My comments from last Friday are still relevant: 2 months ago, all hope seemed lost. Rates were the high... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.30 +0.00   97.47 101.61 UMBS 30YR 6.0 102.46 +0.01   99.66 102.50 10 YR Treasury 4.035 -0.005   3.621 4.780 MBS Live Day Ahead: 2019 Starting Off Strong For Bonds Wed, Jan 2, 2019 8:31AM Overnight market movement was kind to the US bond market, keeping some hope alive for a continuation of recent strength.  Rather than an epic rebound in stocks, we've instead seen moderate losses so far this morning.  Gains in European bond... (read more) MBS Live Day Ahead: 8 Examples of New Year Bond Trading Themes Mon, Dec 31, 2018 9:40AM This week promises a slow start due to the early close today and full closure tomorrow, but a strong finish due to Friday's NFP and the simple fact that it's a new trading year during a fairly volatile phase for markets.  I've talked a lot in ... (read more) MBS Price Change UMBS 5.0 99.92 +0.01 UMBS 5.5 101.30 +0.00 UMBS 6.0 102.46 +0.01 GNMA 5.0 100.22 -0.02 GNMA 5.5 101.26 +0.03 GNMA 6.0 102.02 +0.03 Pricing as of: 9/16 2:14AM EST US Treasury Yield Change 2 YR Treasury 3.536 -0.001 5 YR Treasury 3.603 +0.003 7 YR Treasury 3.786 -0.006 10 YR Treasury 4.035 -0.006 30 YR Treasury 4.653 -0.007 Pricing as of: 9/16 2:14AM EST Other News November Home Price Gains Slowing , Still up 5.1% YoY Wed, Jan 2, 2019 10:40AM Home prices grew by an estimated 0.4 percent in November according to CoreLogic's Home Price Index (HPI) and were 5.1 percent higher than at the end of November 2017. These figures indicate a significant slowdown in the rate of appreciation nationally over the past year. The company reported a 1.0 percent gain for the month of November 2017 and, at that poin... (read more) Single-Family Homes Now Integral to Rental Stock Mon, Dec 31, 2018 2:30PM When one thinks about renters it is usually clusters of three-story garden style apartments, or high-rise elevator buildings that come to mind. But Freddie Mac says that the majority of America's 43 million renter households, 25 million of them in fact live in properties considered single-family housing - detached homes, townhomes, and two-to-four-unit prope... (read more) LO Opportunities; Warehouse, Marketing Products; VA Cash-out Changes Wed, Jan 2, 2019 8:49AM Last week I noted a STRATMOR study that shows, pretty much year in and year out, that traditionally, 82% of residential production comes from 40% of the loan officers out there. Thank you to Kirk H., who sent a note and video on Price’s Law: The square root of the people in any domain do 50% of all the work. If there are 100 FTEs at your company, are 1... (read more) Latest Video Home lending worries mount as government shutdown drags on 2019 will have a market slowdown, but not a recession, says Jeremy Siegel Economy heading for significant slowdown, economist says Around the Web consumerfinancemonitor.com How is the government shutdown impacting the federal banking agencies and consumer financial services regulators? Reuters Oil jumps 4 percent; demand concerns still weigh NAR - Realtor.com U.S. Luxury Home Sales to Slow in 2019 CNBC The Fed is losing its ability to control interest rates, former Senate banking chief says Calculated Risk Blog Question #3 for 2019: Will job creation in 2019 be as strong as in 2018? CNBC New report: As home sellers lower prices further, 2019 starts as a buyer's market Calculated Risk Blog Question #4 for 2019: What will the unemployment rate be in December 2019? Reuters With global growth in question, 10-year yield hits 11-month low Bloomberg Yield Curve Tells the Fed to Hold on Rates Bloomberg Key Fed Yield Gauge Points to Rate Cuts for First Time Since 2008 NAR - Realtor.com The 10 Surprising Housing Markets Poised to Rule in 2019 CNBC ECB appoints temporary administrators for troubled Italian bank Carige Reuters Factbox: Departments hit by partial U.S. government shutdown

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