Robert Dietz says you can count him as among those who believe the geography of housing demand is being changed by the pandemic and the resulting recession. He also thinks some of the changes will endure beyond the dual crises. Dietz, chief economist of the National Association of Homebuilders (NAHB) says the changes aren't solely the result of what has happened this year, but a continuing evolution of the market due to already existing factors. "Declining housing affordability in high-density markets were due to limited resale inventory and insufficient levels of home building. The impact of COVID-19 on prospective home buyer concerns and preferences have accelerated these changes." He says, for example, that the virus itself is creating a competitive disadvantage for residences that require

October 13, 2020 Download our Mobile App: Download our Mobile App: Housing News Pandemic and Recession are Changing the Way People Rent and Buy Robert Dietz says you can count him as among those who believe the geography of housing demand is being changed by the pandemic and the resulting recession. He also thinks some of the changes will endure beyond the dual crises. Dietz, chief economist... (read more) Rob Chrisman Credit, Sales, Subservicing, Fulfillment Products; Webinars and Training For Everyone If I were going to open up a store for eyeglasses, I’d make the sign in front of the building blurry. Lenders now don’t have to be so clever, as we’re in the midst of about the eighth “once-in-a-lifetime” mortgage market... (read more) Housing News Forbearance and Late Payments are Making Mortgages Harder to Get Mortgage credit tightened again in September, reaching a second successive six-year low. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) dropped another 1.9 percent to 118.6. A decline in the MCAI indicates t... (read more) Mortgage Rate Watch Interest Rates Increasingly Focused on Stimulus The bond market, which drives interest rates, is in the habit of reacting to big developments that impact the economy and inflation. At present, bonds are forced to wait for several such developments, but only one of them might come into focus this m... (read more) Housing News Forbearances Experience Record Decline as Initial Plans Expire The number of forbearance plans plunged last week as those that went into effect in the early days of the pandemic hit the end of their initial six-month terms. Black Knight said nearly one-fifth of the plans ended, as the number fell by 649,000 mort... (read more) MBS Commentary MBS Live Recap: Bonds Start Strong But MBS Struggle to Keep Up Bonds Start Strong After Playing Defense Last Week Last week was clearly a defensive shift for the bond market.  Yields asymptotically approached 0.79% but managed to find support at that technical ceili... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% 0.00 0.00 15 Yr. Fixed 5.91% 0.00 0.00 30 Yr. FHA 6.19% -0.01 0.00 30 Yr. Jumbo 6.80% 0.00 0.00 7/6 SOFR ARM 6.29% -0.04 0.00 30 Yr. VA 6.20% -0.02 0.00 Updates Daily - Last Update: 7/1 15 Yr. Fixed Rate 5.91% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.91 -0.01 Price / Yield Change MBS UMBS 5.5 99.91 -0.01 UMBS 6.0 101.58 0.00 GNMA 5.5 100.07 +0.01 GNMA 6.0 101.43 +0.02 Pricing as of: 7/1 10:45PM EST 10 Year US Treasury 4.2446 +0.0054 Price / Yield Change US Treasury 2 YR Treasury 3.772 -0.004 5 YR Treasury 3.836 -0.004 7 YR Treasury 4.019 +0.006 10 YR Treasury 4.246 +0.006 30 YR Treasury 4.768 +0.001 Pricing as of: 7/1 10:45PM EST Latest Video This is not a big deal: Jefferies managing director on Eli Lilly pausing Co... Senate will take up Covid-19 small business relief when it returns, says Mi... U.S. Consumer Price Index rose 0.2% in September, as expected Trump raises stimulus offer to $1.8 trillion Around the Web NPR Europe Reports Record-High 700,000 COVID-19 Cases Last Week, WHO Says news.google.com Unemployment was supposed to be temporary. Now, it's permanent for almost 4 million - CNBC Calculated Risk Blog Technical Note: October Employment Report Will Show a Significant Decrease in Temporary Census Workers CNBC McConnell plans coronavirus aid vote as Pelosi says White House stimulus plan falls short Calculated Risk Blog Cleveland Fed: Key Measures Show Inflation Eased Year-over-year in September CNBC Treasury yields fall as traders weigh U.S. coronavirus stimulus prospects CNBC IMF warns of sharp adjustment' in financial markets despite 'remarkable' recovery this year CNBC Social Security cost-of-living adjustment will be 1.3% in 2021 Calculated Risk Blog BLS: CPI increased 0.2% in September, Core CPI increased 0.2% CNBC Global housing market is holding up well despite the pandemic, Jefferies strategist says Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Declines to 6.32%" Calculated Risk Blog U.S. Heavy Truck Sales down 26% Year-over-year in September NAHB Eye on Housing Mortgage-Treasury Spread Trended Lower in September

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