That applications for mortgages to purchase newly constructed homes rose 30.8 percent in April compared to a year ago is not a particularly useful piece of data given the state the global economy was enduring in April 2021. However, it is good news that the Mortgage Bankers Association (MBA) estimates that new home sales are expected to increase by 8 percent when the April numbers are published. MBA says its estimate of new home sales at an annualized rate of 770,000 units means an end to a two-month slump but, while strong, it is still below the 877,000 unit pace at the end of last year. Mortgage applications were also down month-over-month by 9 percent. The change in application volume does not include any adjustment for typical seasonal patterns. Joel Kan, MBA's Associate Vice President

May 17, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for May 17, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 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 5.0 99.65 +0.07   95.05 100.47 UMBS 30YR 5.5 101.12 +0.08   97.47 101.61 10 YR Treasury 4.079 -0.002   3.706 4.780 MBS Price Change UMBS 4.5 97.66 +0.04 UMBS 5.0 99.65 +0.07 UMBS 5.5 101.12 +0.08 GNMA 4.5 98.06 +0.04 GNMA 5.0 99.96 +0.14 GNMA 5.5 100.99 +0.10 Pricing as of: 9/17 9:21PM EST US Treasury Yield Change 2 YR Treasury 3.543 -0.021 5 YR Treasury 3.643 -0.013 7 YR Treasury 3.829 -0.010 10 YR Treasury 4.078 -0.003 30 YR Treasury 4.678 -0.010 Pricing as of: 9/17 9:21PM EST Other News Next New Home Sales Report Should End Slump -MBA Thu, May 13, 2021 4:40PM That applications for mortgages to purchase newly constructed homes rose 30.8 percent in April compared to a year ago is not a particularly useful piece of data given the state the global economy was enduring in April 2021. However, it is good news that the Mortgage Bankers Association (MBA) estimates that new home sales are expected to increase by 8 percent... (read more) Mortgage Application Volume Revs Up For The First Time Since April Wed, May 12, 2021 10:35AM Mortgage application volume rose for the first time since mid-April last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 2.1 percent on a seasonally adjusted basis during the week ended May 7 and was 2.0 percent higher on an unadjusted basis. The Refinance Index gained 3 percent from the previ... (read more) Corresp., Construction, Sales Jobs; Non-owner, POS Products; Customer Service Tips Mon, May 17, 2021 11:00AM Here is a dab of trivia to start the week. There are only about 2,000 heart transplants every year in the United States. So, on average, that’s only about 2-3 per state per month. Help others and be an organ donor! Speaking of helping, people looking for a new job, or forced out of an old one, can post their resumes for free at Lender News. And employe... (read more) Latest Video Material costs driving up home prices, causing delays NAHB housing market index meets expectations in May The 9am Bond Report - May 17, 2021 Atlanta Fed's Bostic: Now's not the time for Fed to consider moving Around the Web CNBC New monthly child tax credit payments will start July 15. What you need to know Calculated Risk Blog California April Housing: Sales up 65% YoY, Active Listings down 50% YoY NY Fed New York Fed purchases $1.401 billion in Treasurycoupons Calculated Risk Blog Housing Inventory May 17th Update: Slight Increase Week-to-Week Reuters U.S. homebuilder confidence steady in May, survey shows Calculated Risk Blog Seven High Frequency Indicators for the Economy Reuters Households including most U.S. children to get monthly stimulus payment CNBC Treasury yields are flat to start the week Yahoo News Fed's Clarida Says Not Yet Time to Start Taper Talk Reuters U.S. stocks extend recovery; dollar, bond yields dip Calculated Risk Blog LA Area Port Traffic: Strong Imports in April Calculated Risk Blog Q2 GDP Forecasts: Around 10% Calculated Risk Blog Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decreased

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