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The Mortgage Bankers Association (MBA) is expecting new home sales to spike again in June, based on results of its Builder Application Survey (BAS). That survey shows that mortgage applications for new home purchases were up 20 percent from May and 54.1 percent compared to a year ago. The data does not include any adjustment for typical seasonal patterns. Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting said, "The new home purchase market continues to recover - applications surged 20 percent in June, and although this is not adjusted for seasonal impacts, it is another piece of data indicating that homebuying activity that was delayed by the pandemic in March and April is just being realized later in the season. The fact that applications are up over 50 percent
Housing News
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The Mortgage Bankers Association (MBA) is expecting new home sales to spike again in June, based on results of its Builder Application Survey (BAS). That survey shows that mortgage applications for new home purchases were up 20 percent from May and 5... (read more)
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MBS Commentary
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Stocks and Bonds Confirm Hyperfocus on Covid Outlook
Coronavirus has been with us for so long and has caused such a huge paradigm shift that it's easy to lose sight of its importance as a day-to-day market mo... (read more)
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Rob Chrisman
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I woke up this morning trying to remember if I was working where I am living, or living where I am working. “Personal” and “professional” often overlap. Caliber, and other wholesalers, are taking the high road in this week&rsq... (read more)
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Housing News
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Mortgage application volume increased last week, bouncing back slightly from the prior holiday shortened period. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of volume, gained 5.1 percent on a seasonally adjusted ... (read more)
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Mortgage Rate Watch
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Mortgage rates recovered to some extent today, after moving slightly higher on Friday and yesterday. The bond market (which underlies rate movement) was surprisingly resilient (good for rates) even as stock prices moved up roughly 1%. Rising stock pr... (read more)
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Housing News
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The reopening of the economy in several states from the COVID-19 shutdowns has moved Fannie Mae's Economic and Strategic Research (ESR) Group to raise its estimate for the 2020 full year GDP from the 5.4 percent decline it predicted in June to a 4.2 ... (read more)
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