The Urban Institute says that homes categorized as low priced, that is in the bottom 20 percent of the distribution, appreciated 126 percent between the turn of the century and the end of 2019. During that same 20-year period, those in the top 20 percent of the price distribution increased only 87 percent . An analysis of 285 metropolitan statistical areas (MSAs) by Jung Hyun Choi, John Walsh, and Laurie Goodman found that rapid employment growth combined with supply constraints from zoning and other regulations was one driver of this disproportionate price growth on the low end. Those MSAs with the greatest constraints on housing inventory experienced the greater price growth on the low end relative to the high. They measured this using two indices, Wharton Residential Land Use Regulatory

June 4, 2020 Download our Mobile App: Download our Mobile App: Housing News Pandemic's Disproportionate Effects on Housing Supply, Affordability The Urban Institute says that homes categorized as low priced, that is in the bottom 20 percent of the distribution, appreciated 126 percent between the turn of the century and the end of 2019. During that same 20-year period, those in the top 20 per... (read more) MBS Commentary MBS Live Recap: Big Risks Ahead For Rates and Some Solid Opporunities Right Now Big Risks Ahead For Rates and Some Solid Opporunities Right Now Treasury yields broke one important ceiling yesterday (.74%) and another today at .79% before finding support at .823%.  This leaves them a... (read more) Mortgage Rate Watch Mortgage Rates Not Panicking Yet, But That Could Always Change Mortgage rates are directly tied to the bond market. This isn't too much of a surprise considering pretty much anything with an interest rate can be traced back to the bond market. Mortgages are especially relevant though, considering they comprise a... (read more) Rob Chrisman Broker, Doc Products; Customer Experience Study; Correspondent Changes Yesterday afternoon my cat Myrtle was watching me mop the kitchen floor. (Hey, it’s not going to mop itself, right? And it is mildly amusing to use certain products – insert slogan contest here for 4 th grade humor.) While toiling, beside... (read more) Housing News CoreLogic Expects 2021 to see First Home Price Decline in 9 Years CoreLogic's report on April home prices, the first for that month, says that despite fears that home prices would "bottom out like they did in the Great Recession," they continued to accelerate reaching their highest annual growth since August 2018. ... (read more) Housing News Falling Mortgage Rates Boost Purchase Apps 18% YoY Refinancing volume continued to slide but purchase mortgage activity partially compensated during the holiday shortened week that ended May 29. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan applica... (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 5.5 100.03 -0.04 Price / Yield Change MBS UMBS 5.5 100.04 -0.03 UMBS 6.0 101.69 +0.01 GNMA 5.5 100.11 -0.08 GNMA 6.0 101.51 +0.02 Pricing as of: 7/1 12:55AM EST 10 Year US Treasury 4.2173 -0.0073 Price / Yield Change US Treasury 2 YR Treasury 3.721 +0.006 5 YR Treasury 3.788 -0.017 7 YR Treasury 3.978 -0.012 10 YR Treasury 4.214 -0.011 30 YR Treasury 4.757 -0.019 Pricing as of: 7/1 12:55AM EST Latest Video Analyst says home improvement could continue to have 'wallet share' Take the May ADP numbers with a 'grain of salt,' says IHS Markit's Varvares Economic recovery will start at a rapid pace and then taper off, says forme... Wilmington's Roth: Fed liquidity is driving markets higher, pushing interes... Around the Web NPR The Economy Is In Trouble. Try Telling The Stock Market Reuters Explainer: No one really knows how many Americans need unemployment benefits Reuters Wall Street retreats after rallying on recovery optimism NAR - Realtor.com Frantic' New Yorkers Snatch Up Unwanted Homes in the Suburbs Calculated Risk Blog May Employment Preview Reuters For U.S. economy, the bottom may be here, but the rebound is slow so far Reuters Statement from the ECB following policy meeting Calculated Risk Blog Trade Deficit increased to $49.4 Billion in April Reuters ECB's super stimulus salvo sends stocks, euro higher CNBC US weekly jobless claims total 1.877 million, vs 1.775 million expected CNBC Coronavirus live updates: U.S. hospitalizations on the rise, former FDA chief says CNBC European Central Bank ramps up its pandemic bond buying to 1.35 trillion euros Calculated Risk Blog Census: Household Pulse Survey shows 48.1% of Households lost Income

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