In its early April survey of builders for its Housing Market Index the National Association of Home Builders (NAHB) added questions about the impact of the pandemic on construction. While many states have limited "non-essential" business activity, the Department of Homeland Security's guidance has given state and local governments the option of classifying residential construction as essential and many have done so. NAHB asked builders whether construction was allowed in the areas where they build and 78 percent responded in the affirmative. But, even where construction is permissible, effects of COVID-19 may inhibit it or at least slow it down and as NAHB pointed out earlier, at least half of homebuilders have put projects on hold. One potential problem is the need for construction inspections

April 22, 2020 Download our Mobile App: Download our Mobile App: Housing News Covid Pandemic Making "Virtual" Inspections a Reality In its early April survey of builders for its Housing Market Index the National Association of Home Builders (NAHB) added questions about the impact of the pandemic on construction. While many states have limited "non-essential" business activity, th... (read more) Rob Chrisman Digital Products; GSE and Large Investor Adjustments; Bond Market Quiet: A Good Thing While in captivity it is important to amuse oneself . And here’s a tender song – the video is only 30 seconds. By the way, the residential industry is not the only one that is seeing forbearance requests. In the commercial sector, in 30 d... (read more) MBS Commentary MBS Live Day Ahead: The Boring Business of Trading an Inevitable Future While there may be a good amount of drama and suspense when it comes to watching coronavirus take its toll on the economy, there's no mystery.  This isn't like past recessions where a realization gradually sets in.  We may not know exactl... (read more) Housing News February Home Prices Stay Their Course, Increase 5.7% Annually House price growth continued to accelerate through February on the Federal Housing Finance Agency's (FHFA's) Housing Price Index with the U.S. index posting a monthly gain of 0.7 percent in February. The January increase was originally reported as 0.... (read more) Housing News Purchase Applications Stabilizing, Refis Rage On Purchase application volume was up slightly last week, the first gain since early March. Refinancing and overall volume, however, were flat. The Mortgage Bankers Association said its Market Composite Index, a measure of volume, decreased 0.3 percent ... (read more) Mortgage Rate Watch Mortgage Rates Slightly Higher to Start The Week While the industry has come to terms with recent challenges in terms of day-to-day volatility, mortgage rates remain higher than they otherwise would be based on financial markets. In other words there are gold standard benchmarks that serve as the f... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.79% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.79% +0.02 0.00 15 Yr. Fixed 5.99% +0.01 0.00 30 Yr. FHA 6.30% +0.02 0.00 30 Yr. Jumbo 6.87% 0.00 0.00 7/6 SOFR ARM 6.33% -0.06 0.00 30 Yr. VA 6.31% +0.02 0.00 Updates Daily - Last Update: 7/10 15 Yr. Fixed Rate 5.99% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 99.55 -0.01 Price / Yield Change MBS UMBS 5.5 99.55 -0.01 UMBS 6.0 101.33 -0.03 GNMA 5.5 99.84 +0.00 GNMA 6.0 101.37 -0.01 Pricing as of: 7/10 11:08PM EST 10 Year US Treasury 4.3572 +0.0104 Price / Yield Change US Treasury 2 YR Treasury 3.870 -0.006 5 YR Treasury 3.936 +0.001 7 YR Treasury 4.131 +0.004 10 YR Treasury 4.357 +0.010 30 YR Treasury 4.875 +0.005 Pricing as of: 7/10 11:08PM EST Latest Video Federal Housing Finance Agency to buy mortgages in forbearance amid coronav... Many buyers are looking to renegotiate deals before closing: Luxury realtor Existing home sales fall 8.5% in March, vs. 7.5% expected New MBA survey: Nearly 6% of home loans are in forbearance Around the Web Reuters U.S. Treasury market faces structural issues even as liquidity improves Reuters U.S. House expects to pass $500 billion coronavirus bill, avoids fight over remote voting Calculated Risk Blog NMHC: "April Apartment Market Conditions Showed Weakness Amid COVID-19 Outbreak" NPR READ: What's In The Latest Coronavirus Relief Bill Reuters U.S. Treasury chief warns larger firms could face probes over payroll money CNBC Fannie and Freddie will now buy loans in mortgage bailout program, in a bid to loosen lending Reuters U.S. Treasury chief looks for most if not all of U.S. economy to be open later in summer Calculated Risk Blog FHFA: House Prices up 5.7% YoY in February NAR - Realtor.com The Bestand WorstPlaces for Renters To Hunker Down During the Coronavirus Crisis NAHB Eye on Housing Virus Affecting Homeowners' Willingness to Remodel Reuters Safe as houses? Trading from home tests bank defences during crisis NAR - Realtor.com Is the U.S. Hurtling Toward Another Housing Crash? FHFA FHFA Announces that Enterprises will Purchase Qualified Loans in Forbearance to Keep Lending Flowing

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