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 18, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.25% -0.04%   6.11% 7.26% 15 Yr. Fixed 5.71% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for May 18, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.25% -0.04 0.00 15 Yr. Fixed 5.71% -0.01 0.00 30 Yr. FHA 5.99% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.64% -0.01 0.00 30 Yr. VA 6.01% 0.00 0.00 Updates Daily - Last Update: 9/15 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 5.5 101.31 +0.01   97.47 101.61 UMBS 30YR 6.0 102.47 +0.02   99.66 102.50 10 YR Treasury 4.035 -0.006   3.621 4.780 MBS Price Change UMBS 5.0 99.91 0.00 UMBS 5.5 101.29 +0.00 UMBS 6.0 102.46 +0.01 GNMA 5.0 100.22 -0.03 GNMA 5.5 101.26 +0.03 GNMA 6.0 102.02 +0.03 Pricing as of: 9/16 6:38AM EST US Treasury Yield Change 2 YR Treasury 3.532 -0.004 5 YR Treasury 3.605 +0.005 7 YR Treasury 3.788 -0.003 10 YR Treasury 4.038 -0.002 30 YR Treasury 4.657 -0.003 Pricing as of: 9/16 6:38AM 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) Pricing, Processing, Audit Tools; Forbearance Numbers Improve; SPAC Mania! Tue, May 18, 2021 9:26AM The guy I was talking to yesterday asked about my background. I gave him a detailed history of my upbringing, my education, work experience, and why I get up at 4AM six days a week. Turns out he only wanted to know what was behind me on our Zoom call... Seeing other mortgage folks in person in recent weeks has been very nice, and nearly everyone admits being... (read more) Latest Video Trading the homebuilders after largest drop in construction since start of ... The 9am Bond Report - May 18, 2021 Single family housing starts down 13.4%, a huge miss Material costs driving up home prices, causing delays Around the Web Calculated Risk Blog Alabama Real Estate in April: Sales Up 33% YoY, Inventory Down 46% YoY Reuters Biden's tax hike, spending plans to boost profits, Yellen tells U.S. Chamber Calculated Risk Blog Rhode Island Real Estate in April: Sales Up 27% YoY, Inventory Down 48% YoY The Basis Point Can empty hotels help housing shortage? (NAR Research) Reuters Surging lumber prices weigh on U.S. homebuilding Reuters Futures rise after upbeat results from Walmart, Home Depot Zillow Anticipated Inventory Relief Fails to Materialize in April (April 2021 Market Report) Reuters Fed's Kaplan says he still expects first rate hike could happen in 2022 Reuters Germany's top court rejects complaint against ECB's bond buying scheme Yahoo News Oil hits $70, two-month high, as Europe, U.S. reopen economies CNBC Home Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchases 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

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