Redfin says the second home market appears to be cooling although annual sales, measured by mortgage rate locks, were up nationwide by 48 percent in May. The company says, while that increase is substantial, it is the first time in a year that annual growth has fallen below 80 percent . Further, the year-over-year comparison is to a month when much of the nation was shut down by the COVID-19 pandemic. Last June, as the real estate market came back to life, second home mortgage locks jumped 110 percent compared to June 2019 and remained elevated through April. One reason for the increase was thought to be that workers, forced to work from home, realized they could telecommute from anywhere. The annual increase in May is similar what was seen prior to the pandemic and Redfin advances several

June 15, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman AE Jobs; Sec. Marketing, Training, Processing, Due Diligence, TPO Products I was spending a little time yesterday evening at the local cannabis club with my favorite bud-tender (an ombudsman!), and she was telling me about how businesses are seeing a labor shortage, not a job shortage. There are “help wanted” si... (read more) Housing News Second Home Sales React to High Prices, New Regs Redfin says the second home market appears to be cooling although annual sales, measured by mortgage rate locks, were up nationwide by 48 percent in May. The company says, while that increase is substantial, it is the first time in a year that annual... (read more) Housing News Annual Equity Gains Neared $2 Trillion in Q1 It is hardly a surprise given the rapid increase in home prices, but homeowners gained another $1.9 trillion in equity in the first quarter of this year. CoreLogic's Homeowner Equity Report says homeowners with mortgages, (about 62 percent of all pro... (read more) Mortgage Rates One of The Biggest Paradoxes You'll Ever See For Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% 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 MBS Live Recap: Pre-Fed Paralysis Despite Some Interesting Data UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/5 3:12PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/5 3:12PM EST Latest Video Inflation is transitory, says Raymond James CIO Some inflation is transitory, some isn't, says trader Stephanie Link CNBC Fed Survey: First rate hike not expected until November 2022 The 9am Bond Report - June 15, 2021 Around the Web National Associattion of Realtors Vacation Home Sales Surges During Pandemic CNBC With eviction ban expiring in 14 days, many states have given out under 5% of rental assistance CNBC Most professional investors agree with the Fed on inflation, Bank of America survey shows CNBC The Fed is heavily favored to stay the course with easy policies through 2021, CNBC survey shows CNBC Rents for single-family homes just saw the largest gains in nearly 15 years Reuters Markets near record highs as Fed kicks off two-day policy meeting Calculated Risk Blog NAHB: Builder Confidence Declined to 81 in May Calculated Risk Blog Industrial Production Increased 0.8 Percent in May Calculated Risk Blog Retail Sales Decreased 1.3% in May CNBC Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record Reuters Fed walks tightrope between big jobs gap and rising inflation Calculated Risk Blog Mortgage Equity Withdrawal in Q1 2021 Reuters S&P 500, Nasdaq set record closing highs as Fed meeting looms

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