Pending home sales fell back slightly in June after a notable and unexpected 8.0 percent gain in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) dipped 1.9 percent from May to a reading of 112.8. This was also 1.9 percent lower than the index in June 2020. The PHSI is based on newly signed contracts to purchase existing single-family homes, townhouses, condos, and cooperative apartments. It is considered a leading indicator of those sales which are generally expected to close over the next one to two months. "Pending sales have seesawed since January, indicating a turning point for the market," said Lawrence Yun, NAR's chief economist. "Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat.

July 29, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jul 29, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.71 +0.12   95.05 100.47 UMBS 30YR 5.5 101.15 +0.12   97.47 101.61 10 YR Treasury 4.063 -0.018   3.706 4.780 MBS Price Change UMBS 4.5 97.72 +0.09 UMBS 5.0 99.71 +0.12 UMBS 5.5 101.15 +0.12 GNMA 4.5 98.10 +0.08 GNMA 5.0 100.00 +0.17 GNMA 5.5 101.01 +0.13 Pricing as of: 9/18 2:45AM EST US Treasury Yield Change 2 YR Treasury 3.537 -0.026 5 YR Treasury 3.633 -0.024 7 YR Treasury 3.817 -0.023 10 YR Treasury 4.063 -0.018 30 YR Treasury 4.657 -0.030 Pricing as of: 9/18 2:45AM EST Other News "Seesawing" Pending Sales May Signal Market Turning Point Thu, Jul 29, 2021 11:24AM Pending home sales fell back slightly in June after a notable and unexpected 8.0 percent gain in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) dipped 1.9 percent from May to a reading of 112.8. This was also 1.9 percent lower than the index in June 2020. The PHSI is based on newly signed contracts to purchase e... (read more) States Get Framework for Regulating Non-Bank Servicers Thu, Jul 29, 2021 11:27AM The Board of Directors of the Conference of State Bank Supervisors (CSBS) has released model state regulatory prudential standards for nonbank mortgage servicers. CSBS is the national organization of bank regulators from all 50 states, the District of Columbia, and most U.S. territories. Those regulators supervise roughly three-quarters of all U.S. banks and... (read more) AE, MLO Jobs; MBS Delivery, Processing, Data Breach Tools; Redwood Trust Earnings; GDP Results Thu, Jul 29, 2021 11:12AM Mission Statements are so passe. We now have “long term vision statements.” For some, great literature consists of the Bible, or Moby . For others of limited intelligence, like me, the pinnacle is National Lampoon’s 1964 Yearbook . (The Freshman section is classic.) For others it is the FHA Handbook or the charters of Freddie Mac and Fannie... (read more) Latest Video The 9am Bond Report - July 29, 2021 Weekly initial jobless claims falls to 400,000 Fed signaled tapering is coming next, says Sarah Bloom Raskin Little support for tapering MBS earlier than Treasurys: Fed Chair Powell Around the Web CNBC The U.S. economy is bigger than it was pre-pandemic, but Covid could still decide what happens next National Associattion of Realtors Tracking Housing Construction at the Local Level: June 2021 CNBC White House calls on Congress to extend expiring eviction ban Calculated Risk Blog Hotels: Occupancy Rate Down 8% Compared to Same Week in 2019 Reuters Biden asks Congress to extend COVID-19 eviction ban set to expire this week CFPB CFPB and FHFA Release Updated Data from the National Survey of Mortgage Originations for Public Use Reuters As Fed tiptoes around tapering, investors look to Jackson Hole meeting for clarity CNBC Pending home sales drop in June more evidence of a housing turnaround CNBC U.S. Q2 GDP rises at 6.5% vs. 8.4% estimate Reuters Fiscal stimulus, vaccines likely fueled U.S. economic growth in the second quarter CNBC Treasury yields are flat as investors digest Fed meeting Reuters S&P 500 ends little changed as Powell says Fed still a ways away from rate hikes Reuters U.S. Senate to vote on infrastructure after bipartisan breakthrough

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