The COVID-19 outbreak struck a major blow to builder confidence in April. The prospect of widespread shutdowns of businesses and prolonged shelter at home orders sent the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) spiraling down 42 points, its largest monthly change in a more than 30 year history, to a reading of 30. The index, a measure of home builder confidence in the market for new homes, recovered slightly in May, rising 7 points. This morning NAHB said, in a sign that housing stands poised to lead a post-pandemic economic recovery , its index soared 21 points to 58, now only 14 points below where it finished in March. Any reading above 50 indicates a positive market. NAHB's leadership is clearly upbeat. Chairman Dean Mon said, "As the nation reopens,

June 16, 2020 Download our Mobile App: Download our Mobile App: Housing News Builder Confidence Crushes Expectations The COVID-19 outbreak struck a major blow to builder confidence in April. The prospect of widespread shutdowns of businesses and prolonged shelter at home orders sent the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) sp... (read more) MBS Commentary MBS Live Recap: Economic Hope Squares Off Against Virus Fears (Again) Economic Hope Squares Off Against Virus Fears (Again) Markets continue trying to sort out the prospects for a recovery vs the risk of covid-19 resurgence. Today's battle was between super strong Retail Sales ... (read more) Housing News Regulator Seeks Authority to Charter Fannie/Freddie Competitors The Federal Housing Finance Agency (FHFA) released its annual Report to Congress for 2019 on Monday. The report summarizes the FHFA's activities as regulator of the Federal Home Loan Banks (FHLBanks) and as both regulator and conservator of the GSEs ... (read more) Rob Chrisman Marketing, Bank Statement, Servicing Products; Webinars and Events; Freddie and Fannie in the News What? You aren’t offering a 30-year rate below 3% yet? Better catch up, because that is where the mainstream press is telling borrowers rates are. Of course, us capital markets folks hate it when newspapers talk about rates, and LOs don’t... (read more) Mortgage Rate Watch Mortgage Rates Slightly Higher, But Still Near All-Time Lows Mortgage rates were slightly higher today for the average lender. Additionally, some lenders bumped rates a bit in the middle of the day in response to weakness in the bond market. That weakness is increasingly tied to broad movement playing out acro... (read more) Housing News Refi Surge Boosts Lender Sentiment The continued high volume of refinancing kept mortgage lenders' outlook for profits relatively high during the second quarter, although it was down slightly from the first quarter of the year. Fannie Mae's Mortgage Lender Sentiment survey found that ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% 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 5.5 100.07 +0.26 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:29PM EST 10 Year US Treasury 4.2246 -0.0567 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:29PM EST Latest Video Low rates, low supply and urban flight boost homebuilders Here's what Fed chair Powell said about the U.S. economy Fed chair Jerome Powell on purchasing corporate bonds Fed to start buying individual corporate bonds Around the Web Reuters Stocks, dollar gain on U.S. retail sales, drug trial Reuters U.S. bank profits plunge 70% on coronavirus loss provisioning CNBC Powell says the Fed doesn't want to 'run through the bond market like an elephant' Reuters New York area business activity shows signs of improvement in June Reuters U.S. economic recovery hinges on virus being under control, Fed's Powell says CNBC Powell warns of 'significant uncertainty' about the recovery and says small businesses are at risk Reuters Scientists hail dexamethasone as 'major breakthrough' in treating COVID-19 Calculated Risk Blog Industrial Production Increased 1.4 Percent in May CNBC This unemployment metric has puzzled some economists CNBC US May retail sales surge 17.7% in the biggest monthly jump ever Reuters Fed's Powell set to reiterate long U.S. economic recovery, call for more fiscal support Reuters Fed bolsters credit market support with latest launch NAHB Eye on Housing Multifamily Construction Shines Brighter in EHS Markets

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