Contracts for existing home purchases rose for the fourth straight month in August and more than doubled the increase expected by most analysts. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) rose from 122.1 in July to 132.8 in August, an increase of 8.8 percent. The PHSI, based on contracts to purchase existing single-family houses, townhouses, condos, and cooperative apartments, is now at an all time high and is 24.2 percent above its level in August 2019. The index is also up 44.6 points from the point to which it plunged in April after the widespread business closures and stay-at-home responses to the COVID-19 pandemic. Most analysts had looked for a strong report, but still didn't come close to predicting the actual gains. Those polled by Econoday

September 30, 2020 Download our Mobile App: Download our Mobile App: Housing News Pending Home Sales Just Hit a New All-Time High Contracts for existing home purchases rose for the fourth straight month in August and more than doubled the increase expected by most analysts. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) rose from 122.1 ... (read more) Housing News Mortgage Applications Slowed as Many Rush to Beat the Adverse Market Fee Mortgage application volume has fallen into an up and down pattern over the last few weeks and last week went to the negative side. The Mortgage Bankers Association said its Market Composite Index decreased 4.8 percent on a seasonally adjusted basis ... (read more) Rob Chrisman Servicing, MLO, Ops Jobs; Compliance, Jumbo Products; Webinars and Training; Housing, Jobs, and Stable Rates Welcome to the start of Fat Bear Week in Alaska. (There’s even a Park Service bracket with the favorites... expect upsets!) It’s probably easier to forecast the fattest bear than it is to predict forbearance trends, although MCT’s &... (read more) Mortgage Rate Watch Mortgage Rates Still Sideways to Slightly Lower The average mortgage lender continues to offer top tier conventional 30yr fixed rates in the "high 2% to low 3%" neighborhood. Exactly where any given quote will reside in that neighborhood depends on several factors. The most important of those is t... (read more) Housing News Perfect Storm For Home Prices? The growth of home prices nationally continued to accelerate in July according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The National Index, which covers all nine U.S. census divisions, rose 4.8 percent in July on an a... (read more) MBS Commentary MBS Live Recap: Bonds Finally Make a Move. How Serious Is It? Bonds Finally Make a Move. How Serious Is It? After more than 2 months of a narrow sideways range and more than 3 weeks of an increasingly narrow trading range, bond yields finally broke out today.  Is t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.97% +0.08% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.97% +0.08 0.00 15 Yr. Fixed 6.22% +0.08 0.00 30 Yr. FHA 6.47% +0.09 0.00 30 Yr. Jumbo 7.02% +0.07 0.00 7/6 SOFR ARM 6.40% +0.16 0.00 30 Yr. VA 6.50% +0.10 0.00 Updates Daily - Last Update: 6/6 15 Yr. Fixed Rate 6.22% +0.08% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.04 0.00 15 Yr. Fixed 5.99% -0.04 0.00 Updates Weekly - Last Update: 6/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% +0.06 0.69 15 Yr. Fixed 6.21% +0.09 0.72 30 Yr. Jumbo 6.94% +0.09 0.72 Updates Weekly - Last Update: 5/21 MBS / Treasuries UMBS 30YR 5.5 98.63 -0.36 Price / Yield Change MBS UMBS 5.5 98.59 -0.39 UMBS 6.0 100.72 -0.28 GNMA 5.5 98.97 -0.31 GNMA 6.0 100.78 -0.19 Pricing as of: 6/6 3:16PM EST 10 Year US Treasury 4.4946 +0.1001 Price / Yield Change US Treasury 2 YR Treasury 4.041 +0.121 5 YR Treasury 4.120 +0.121 7 YR Treasury 4.303 +0.112 10 YR Treasury 4.499 +0.104 30 YR Treasury 4.955 +0.083 Pricing as of: 6/6 3:16PM EST Latest Video Dallas Fed's Kaplan: Worried rates at zero will push investors out on risk ... Sec. Mnuchin says progress made but no deal on new stimulus Labor market still in a 'ditch,' San Francisco Fed's Daly September Chicago PMI: 62.4 vs. 52.1 expected Around the Web CNBC Fed's Daly calls for more fiscal help to get the economy out of a 'big ditch' Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate Increased in August CNBC Near-zero interest rates may be needed for up to 3 years, says Dallas Fed's Robert Kaplan news.google.com I'm a financial planner, and there are 2 home-buying mistakes I've seen during the pandemic - Business Insider CNBC Changes will be made for next Trump vs. Biden debate 'to maintain order' after ugly first round CNBC These cities are at risk of a housing bubble as home prices inflate worldwide Calculated Risk Blog Q2 GDP Revised up to -31.4% Annual Rate CNBC Private sector jobs up 749,000 in September, vs 600,000 estimate, ADP says CNBC Christine Lagarde hints at a major tweak for the ECB's inflation target CNBC Treasury yields mixed; debate, coronavirus treatment, stimulus in focus Calculated Risk Blog Real House Prices and Price-to-Rent Ratio in July news.google.com We're at War': New York City Faces a Financial Abyss - The New York Times CNBC JPMorgan predicts a 10% rally for the S&P 500 and names the U.S. sectors to watch

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