Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally adjusted annual rate of 1.572 million, a 3.6 percent improvement on the revised (from 1.569 million) rate of 1.517 million in April. Starts are running 50.3 percent ahead of the rate in May 2020. May's results were slightly lower than expected. Analysts polled by Econoday had a consensus estimate of 1.630 million. The forecasts ranged from 1.500 to 1.735 million. Construction was begun on single-family houses at an annual rate of 1.098 million, a 4.2 percent gain from April's revised rate of 1.054 million and up 49.8 percent year-over-year. The

June 16, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman MLO, AE Jobs; Servicing, Sales, TPO, VOI Products; Fannie and Agency Shifts Continue: 3 Instead of 7 Percent NOO Cap? Broker and Lender Services and Products Faster applications = happier borrowers = loyal customers. VOE+VOIs are an unnecessary pain in the you know what when it comes to processing faster applications. Improve the borrower experience with faster VOE/... (read more) Housing News May Housing Starts Post Modest Recovery from April's Slump Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally ... (read more) Housing News Rising Lumber and Material Costs Put a Dent in Builder Confidence The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) dropped 2 points in June. The Index, a measure of home builders' confidence in the market for newly built homes, fell to 81, its lowest reading since last ... (read more) Mortgage Rates Rates Moving Higher Ahead of Fed 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 MBS Live Recap: Bonds Blasted By Fed's Salty Dots 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: 7/6 4:42PM 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: 7/6 4:42PM EST Latest Video Chair Powell says Fed needs more data before providing tapering timeline Fed Reserve's Powell on projections: Dot plots are not a great forecaster Expect Fed to begin tapering by the end of 2021 at the earliest, says Allia... Fed leaves interest rates unchanged, increases inflation forecast Around the Web Reuters U.S. fed funds futures raise rate hike chances in early 2023 after Fed statement CNBC The typical home price is up a 'record' 13.2% compared to last year, according to Zillow Calculated Risk Blog FOMC Projections and Press Conference CNBC Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper Calculated Risk Blog California May Housing: Sales up 87% YoY, "Signs of cooling" Reuters U.S. housing starts miss expectations amid higher lumber prices National Associattion of Realtors Instant Reaction: Housing Starts, June 16, 2021 Reuters U.S. housing starts rise less than expected in May; building permits fall Reuters Fed expected to signal start of monetary policy shift debate Redfin Housing-Market Competition Has Eased Slightly, But 7 in 10 Buyers Still Face Bidding Wars CNBC Treasury yields fall slightly despite looming Fed policy verdict CNBC After traders get past this tricky Fed meeting, a confusing second half awaits National Associattion of Realtors Vacation Home Sales Surges During Pandemic

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