The Mortgage Bankers Association (MBA) is expecting new home sales to spike again in June, based on results of its Builder Application Survey (BAS). That survey shows that mortgage applications for new home purchases were up 20 percent from May and 54.1 percent compared to a year ago. The data does not include any adjustment for typical seasonal patterns. Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting said, "The new home purchase market continues to recover - applications surged 20 percent in June, and although this is not adjusted for seasonal impacts, it is another piece of data indicating that homebuying activity that was delayed by the pandemic in March and April is just being realized later in the season. The fact that applications are up over 50 percent

July 15, 2020 Download our Mobile App: Download our Mobile App: Housing News New Home Sales Expected to Surge The Mortgage Bankers Association (MBA) is expecting new home sales to spike again in June, based on results of its Builder Application Survey (BAS). That survey shows that mortgage applications for new home purchases were up 20 percent from May and 5... (read more) MBS Commentary MBS Live Recap: Stocks and Bonds Confirm Hyperfocus on Covid Outlook Stocks and Bonds Confirm Hyperfocus on Covid Outlook Coronavirus has been with us for so long and has caused such a huge paradigm shift that it's easy to lose sight of its importance as a day-to-day market mo... (read more) Rob Chrisman Non-QM, QC, Construction Loan Products; Events and Training; Big Bank Mortgage Stats I woke up this morning trying to remember if I was working where I am living, or living where I am working. “Personal” and “professional” often overlap. Caliber, and other wholesalers, are taking the high road in this week&rsq... (read more) Housing News Mortgage Application Volume is Up, Forbearances Continue to Wane Mortgage application volume increased last week, bouncing back slightly from the prior holiday shortened period. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of volume, gained 5.1 percent on a seasonally adjusted ... (read more) Mortgage Rate Watch Mortgage Rates Fight The Urge To Move Higher Mortgage rates recovered to some extent today, after moving slightly higher on Friday and yesterday. The bond market (which underlies rate movement) was surprisingly resilient (good for rates) even as stock prices moved up roughly 1%. Rising stock pr... (read more) Housing News Forecasters See Surprisingly Strong Housing Rebound, But There Are Risks The reopening of the economy in several states from the COVID-19 shutdowns has moved Fannie Mae's Economic and Strategic Research (ESR) Group to raise its estimate for the 2020 full year GDP from the 5.4 percent decline it predicted in June to a 4.2 ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 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 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/4 3:55AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/4 3:55AM EST Latest Video Fed: Economic activity increased, but is still below pre-Covid levels Stocks open higher on Goldman earnings beat and positive vaccine data Industrial production increases by 5.4% in June, vs 4% increase expected Moderna chief scientist on promising new vaccine data Around the Web Calculated Risk Blog Fed's Beige Book: "Economic activity increased in almost all Districts, but remained well below where it was prior to the COVID-19 pandemic." CNBC If you file your taxes by today, Uncle Sam will pay up to 5% interest on your late refund Calculated Risk Blog NMHC: Rent Payment Tracker Finds Decline in People Paying Rent in July NAHB Eye on Housing Single-Family Permits Slow-Down in May Calculated Risk Blog Industrial Production Increased 5.4 Percent in June; Still 10.8% Below Pre-Crisis Level Calculated Risk Blog NY Fed: Manufacturing "Business activity increased in New York State" in July CNBC Coronavirus outbreak is already upending health insurance premiums and copays for next year CNBC Coronavirus updates: U.S. sets fresh single-day record for new cases; Moderna exec feels 'ethical obligation' CNBC Treasury yields move higher ahead of Fed's Beige Book report CNBC CDC study says mask mandates should be considered after examining Missouri hair salon NPR Stay-At-Home Improvement: DIY Builders Help Drive Up Lumber Prices Calculated Risk Blog Leading Index for Commercial Real Estate Decreased Further in June CNBC Despite a massive recession, JPMorgan Chase just posted record revenue here's how they did it

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