Both the FHFA and Case‑Shiller home price indices were released today. While the data collection time frame is from April, they each suggest a similar shift is underway when adjusting for seasonality. Specifically, if we ignore seasonality, prices rose.  If we don't, they were down 0.4% from March. FHFA House Price Index (seasonally adjusted, MoM) April: −0.4%; March was revised from −0.1% to 0.0% YoY: +3.0% from April 2024 to April 2025 Monthly figures varied regionally: the West South Central and South Atlantic divisions posted the steepest falls (−1.3%), while the Middle Atlantic rose +1.2%. All nine divisions remain positive YoY (ranging from +0.5% to +7.4%). The 0.4% drop is in line with slower spring momentum—not drastic, but a continued cooling from prior gains. The upward revision in March helps to offset April's declines to some extent. Case‑Shiller National Index (unadjusted) YoY: +2.7% in April, down from +3.4% in March MoM (raw): +0.6% MoM (seasonally adjusted): −0.4%

June 24, 2025 Download our Mobile App: Download our Mobile App: Housing News Home Prices Fell More Than Expected in April Both the FHFA and Case‑Shiller home price indices were released today. While the data collection time frame is from April, they each suggest a similar shift is underway when adjusting for seasonality. Specifically, if we ignore seasonality, prices ro... (read more) MBS Commentary Solid Response to Data and Dovishness Solid Response to Data and Dovishness The morning commentary focused more on the relatively dovish tone struck by Powell in today's congressional testimony. To be clear, we wouldn't say it was dovish in an ou... (read more) Mortgage Rate Watch Mortgage Rates Lowest Since April Yesterday saw mortgage rates fall to the best levels since early May.  Now, today, we'd have to go all the way back to the end of April to find anything lower.  Are the changes massive? Not by a long shot, but it sounds/looks that much bett... (read more) Rob Chrisman SOC, Warehouse, Legal Guidance Tools; Webinar on Comp; LOs as Financial Advisors; Rates Rangebound Residential business is coming through in dribs and drabs for many lenders, but that doesn’t stop all the random news out there. To no one’s surprise, Compass is suing Zillow, the owner of Zillow Home Loans which has seen its volumes expanding nicely... (read more) Mortgage Rates 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 UMBS 30YR 5.5 99.72 +0.08 Price / Yield Change MBS UMBS 5.5 99.73 +0.09 UMBS 6.0 101.52 +0.09 GNMA 5.5 99.93 +0.08 GNMA 6.0 101.42 +0.08 Pricing as of: 7/6 10:23PM EST 10 Year US Treasury 4.3339 -0.0128 Price / Yield Change US Treasury 2 YR Treasury 3.855 -0.028 5 YR Treasury 3.911 -0.026 7 YR Treasury 4.102 -0.023 10 YR Treasury 4.330 -0.017 30 YR Treasury 4.860 -0.003 Pricing as of: 7/6 10:23PM EST Latest Video Fed Chair Powell: Inflation forecast is key difference in rate decision Fed Chair Powell: Rate decision depends on path of the economy, highly unce... Consumer confidence index surprises to downside Fed Chair Powell: We'll likely start to see tariff inflation data starting ... Around the Web PR Newswire US Consumer Confidence Retreats in June Marketwatch Fed interest-rate cut in July gains support. What does Powell think? Calculated Risk Case-Shiller: National House Price Index Up 2.7% year-over-year in April Eye on Housing Is U.S. Lumber Self-Reliance Possible? CNBC U.S. Treasury yields rise after Trump announces Israel-Iran ceasefire CNBC Fed Governor Bowman favors July interest rate cut if inflation stays low CNBC Powell emphasizes Fed's obligation to prevent 'ongoing inflation problem' despite Trump criticism CNBC May home sales increase very slightly, but prices hit another record high FHFA FHFA House Price Index® Down 0.4 Percent in April; Up 3.0 Percent from Last Year Calculated Risk Blog Hotels: Occupancy Rate Decreased 2.4% Year-over-year CNBC Middle East ocean freight rates soar on Iran conflict, Strait of Hormuz shipping risks CNBC Fed Chair Powell speaks on Capitol Hill this week with politics front and center CNBC Senators will stay in D.C. until Trump's 'big, beautiful bill' passes, Thune says

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