While builder confidence in the market for new residential construction improved in March, it remained flat in April and residential construction numbers showed a decline in momentum as well. Residential construction starts, which had surged in February, gave back all of those gains in March. The U.S. Census Bureau and the Department of Housing and Urban Development (HUD) report that construction began at a seasonally adjusted annual rate of 1.321 million housing units during the month, a decline of 14.7 percent from February’s level of 1.549 million units. Starts were 4.3 percent lower than their level in March 2023. Single-family starts fell 12.4 percent to an annual rate of 1.022 million and multifamily starts dived 20.8 percent to 290,000 units. The two categories were down 21.2 percent and 43.7 percent respectively year-over-year. Permits also declined. The annual rate was 4.3 percent lower at 1.458 million units compared to 1.523 million in February. Permits increased 1.5 percent on an annual basis. Single-family authorizations dropped from 1.032 million to 973,000, a 5.7 percent decline. This was still a 17.4 percent improvement from March of last year. Multifamily permits were unchanged at 433,000 units, down 22.1 percent year-over-year. Analysts polled by Econoday had forecast starts at 1,480 million and permits at 1.510 million, substantially overshooting both numbers. The National Association of Home Builders (NAHB) said the NAHB/Wells Fargo Housing Market Index (HMI) broke a four-month string of gains this month, remaining at the 51 level, unchanged from March, but still above the key breakeven point of 50.

April 16, 2024 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Apr 16, 2024 Mortgage Rates Back to 7.5% Tue, Apr 16, 2024 4:56PM The bad times keep rolling for mortgage rates with the average conventional 30yr fixed rate back up to 7.5% according to our daily index.  This is quite a bit higher than the major weekly indices for a few reasons.  First, the weekly indices haven't been updated for the current week yet.  When that changes, because they are averages, they'll also include several days in the past where rates were a lot lower than they are today.  Slightly less important but still relevant is the fact that our index accounts for points by adjusting the rate itself. There are also reasons tha... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 More Losses. When Will Buyers Be Enticed? Tue, Apr 16, 2024 11:25AM Yesterday's commentary pulled an occasionally used phrase off the shelf by referring to recent weakness as a "repricing" in the broader bond market.  This is an intentional migration from one rate reality to another.  These episodes happen from time to time and are usually driven by data or a major change in policy.  The most important thing t... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 1:09PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 1:09PM EST Other News Residential Construction Fall and Builder Confidence Flattens in Uncertain Rate Environment Tue, Apr 16, 2024 11:41AM While builder confidence in the market for new residential construction improved in March, it remained flat in April and residential construction numbers showed a decline in momentum as well. Residential construction starts, which had surged in February, gave back all of those gains in March. The U.S. Census Bureau and the Department of Housing and Urban De... (read more) Networking, Pricing Engine, VOE Products; Agencies Address Foreclosures and Potential NAR Settlement Tue, Apr 16, 2024 11:30AM “Congratulations to the Kardashians on their 20th season. And to me for never having watched a single minute of a single episode.” There are certainly more important things in life, like the rising cost of homeowner’s insurance, and the changing climate. Manmade or natural, it doesn’t matter: If an insurance company won’t insure the area, if an investor wors... (read more) Latest Video 'Not surprising' that Fed doesn't yet have confidence to cut rates, says BN... Christine Lagarde: ECB will cut rates soon, barring any major surprise A rise in gold prices is not a good backdrop for rate cuts, says Bleakley's... Building permits, construction both below estimate in March Around the Web Marketwatch Feds Powell says likely to take longer to meet conditions to cut interest rates Marketwatch Rents have finally stopped skyrocketing. Theyre now stuck at a price most Americans cant afford. Marketwatch Rents have finally stopped skyrocketing. They're now stuck at a price most Americans can't afford. Marketwatch Fed Vice Chair Jefferson says interest rates could stay higher for longer if inflation persists Calculated Risk Blog Industrial Production Increased 0.4% in March Reuters Fed's Powell, Jefferson to square 'restrictive' policy with strong data Calculated Risk Blog 3rd Look at Local Housing Markets in March CNBC U.S. wage growth is cooling, but some jobs are still seeing relatively big annual raises CNBC 10-year Treasury yield holds above 4.6% as investors weigh interest rate outlook CNBC IMF upgrades global growth forecast as economy proves 'surprisingly resilient' despite downside risks Calculated Risk Blog Housing Starts Decreased to 1.321 million Annual Rate in March Eye on Housing Builder Sentiment Unchanged in April Calculated Risk Blog Retail Sales Increased 0.7% in March

© 2026  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.