It was another disappointing month for new home sales , but due entirely to a sharp decline in those sales in the West. The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes in May were at a seasonally adjusted annual rate of 626,000 units. This is 7.8 percent below the revised (from 673,000) April rate of 679,000 and 3.7 percent lower than the rate in May 2018 of 650,000 Expectations were for a rebound from April sales after a 6.9 percent downturn from March. Analysts polled by Econoday were looking for results in a range from 649,000 to 710,000 with a consensus of 680,000. On a non-adjusted basis there were 60,000 newly constructed homes sold in May compared to 67,000 in April. On a year-to-date basis, sales are up 4.0 percent at

June 25, 2019 Download our Mobile App: Download our Mobile App: Housing News New Home Sales in West Plummet, Skewing National Totals It was another disappointing month for new home sales , but due entirely to a sharp decline in those sales in the West. The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes in May were at a ... (read more) MBS Commentary MBS Live Day Ahead: Downtrend or Consolidation? In the day just past, bonds returned from the weekend with an unexpected fervor--at least in terms of outright improvement in yields.  Looking beneath the gains, we saw limited volume and no fundamental justification for the move.  Rather, ... (read more) Housing News Case-Shiller: Home Price Moderation not Tracking Rate Changes The two sets of price indices released on Tuesday diverged again. The S&P CoreLogic Case-Shiller Indices continue to show declining appreciation while the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) indicates that price incr... (read more) Rob Chrisman Broker, Digital, Appraisal Products; First Bank and Roosevelt Ink Deal Guys with an eyepatch and three fingers sell the best fireworks. Who does the best job selling mortgage products to consumers? Regulators, Agencies, and investors have seen the percentage of bank fundings drop and non-bank originations move higher ov... (read more) Housing News Joint Center Sees Multiple Problems Emerging from Construction Shortfall The annual State of the Nation's Housing report from the Joint Center for Housing Studies (JCHS) at Harvard University is the latest vehicle for sounding the alarm about the country's diminishing housing stock and the resulting decline in affordabili... (read more) Mortgage Rate Watch Rates Catch a Break to Remain Near Long-Term Lows Mortgage rates were generally flat today, depending on the lender. Some were noticeably better while others were a hair worse. In both cases, rates are very close to the lowest levels since late 2016. Changes from Friday would most likely be measured... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.02 0.00 15 Yr. Fixed 6.02% +0.03 0.00 30 Yr. FHA 6.34% +0.05 0.00 30 Yr. Jumbo 6.90% +0.01 0.00 7/6 SOFR ARM 6.45% +0.10 0.00 30 Yr. VA 6.35% +0.05 0.00 Updates Daily - Last Update: 7/8 15 Yr. Fixed Rate 6.02% +0.03% 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 99.44 -0.01 Price / Yield Change MBS UMBS 5.5 99.46 +0.01 UMBS 6.0 101.34 +0.01 GNMA 5.5 99.63 +0.01 GNMA 6.0 101.25 -0.01 Pricing as of: 7/9 4:25AM EST 10 Year US Treasury 4.3993 -0.0069 Price / Yield Change US Treasury 2 YR Treasury 3.891 -0.004 5 YR Treasury 3.970 0.000 7 YR Treasury 4.169 -0.006 10 YR Treasury 4.396 -0.010 30 YR Treasury 4.917 -0.010 Pricing as of: 7/9 4:25AM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Reuters Fed's Barkin sees risk the U.S. could talk itself into a recession; no sign of it yet Calculated Risk Blog Update: A few comments on the Seasonal Pattern for House Prices Bloomberg Fannie, Fintech Face Congress With Wall Street Watching Closely - Bloomberg Reuters Powell says Fed is wrestling with whether to cut rates, insulated from politics NAR - Realtor.com 6 Things Every Home Buyer, Seller, and Owner Need to Know About Today's Housing Market Federal Reserve Powell, Economic Outlook and Monetary Policy Review CNBC Here are the best places to own a home and pay fewer taxes Bloomberg Fed's Williams Says Bias in U.S. Economy Is Holding Back Growth Calculated Risk Blog A few Comments on May New Home Sales CNBC US consumer confidence falls to 121.5 in June, vs. 131.1 expected CNBC Home price gains shrink slightly in April, but some cities are heating up again: S&P Case-Shiller CNBC Market is excessively optimistic on Fed cuts and trade, top economist warns CNBC US Treasury yields lower ahead of Powell's speech

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