The Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) fell in line with most other indices in May, showing a slowdown in housing price appreciation. The agency said home prices gained 0.1 percent compared to April and was 5.0 percent higher than in May 2018. While the FHFA numbers have been trending lower they have not done so in a consistent manner and its annual figure remains significantly higher than the appreciation shown by other major data providers which have drifted down into the mid-3 percent range. Both of the May figures are reversals of April's gains of 0.4 percent for the month and 5.2 percent on an annual basis. For the nine census divisions, seasonally adjusted monthly house price changes from April 2019 to May 2019 ranged from a 1.0 percent loss in the East

July 23, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jul 23, 2019 Mortgage Rates Fall Again as Lenders Play Catch Up Mon, Jul 22, 2019 3:30PM Mortgage rates were lower again today. The improvement was fairly decent given the amount of movement seen in the bond market. The reason for that has to do with the phenomenon we discussed on Friday whereby mortgage lenders are generally a bit cautious when it comes to adjusting rate sheets to keep pace with bond market movement. With that in mind, bonds had improved during the day on Friday, but most lenders didn't adjust rates in the afternoon. Simply put, we are seeing Friday afternoon's bond market improvement today. There are only a few significant scheduled events with the potential to ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: Range Narrows as Data and Auctions Begin Tue, Jul 23, 2019 8:56AM In the day just passed, bonds made modest gains at the open only to give most of them up by the close.  Activity was concentrated at the specific opening and closing bells for the CME (where bond options still trade in "the pit" and where many of the most active bond traders execute electronic trades at a desk).  This is a common occurrence when vo... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.22 UMBS 6.0 102.37 -0.17 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.14 GNMA 6.0 102.01 -0.17 Pricing as of: 9/9 5:50PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.615 +0.054 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.731 +0.041 Pricing as of: 9/9 5:50PM EST Other News FHFA Shows Further Slowdown in Home Prices for May Tue, Jul 23, 2019 10:01AM The Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) fell in line with most other indices in May, showing a slowdown in housing price appreciation. The agency said home prices gained 0.1 percent compared to April and was 5.0 percent higher than in May 2018. While the FHFA numbers have been trending lower they have not done so in a consistent... (read more) Existing Home Sales Fail to Build on May Gains Tue, Jul 23, 2019 11:17AM Existing home sales are persistent in their inability to maintain a steady course from month to month. Despite low interest rates and hopes for a strong spring market, those sales were down 1.7 percent in June. Sales the prior month had posted a 2.5 percent increase, breaking out of a two-month slump. The National Association of Realtors® (NAR) said sale... (read more) Prepayments, Delinquencies Reversed Course in June Tue, Jul 23, 2019 9:37AM The bubble in the mortgage prepayment rate burst in June. Black Knight, in its "first look" at the month's loan performance statistics, said the single month mortality rate (SMM), the pace at which mortgages are paid down or off, declined for the first time in five months . The rate is usually an indication of refinance activity, although home sales also pla... (read more) LO Training, Construction, Marketing Products; FHA Updates Tue, Jul 23, 2019 8:57AM During my travels someone recently told me that the “x” at the end of Cajun names was attributable to illiterate Cajuns “making their mark.” But instead it seems that two hundred years ago Judge Paul Briant took responsibility for the 1820 U.S. census in Louisiana and is most responsible for the standard “eaux.” Louisiana ... 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