Did the housing happy talk just get a little less so? CoreLogic's Housing Price Index Forecast (HPI) over the May 2020 to May 2021 window is seeing more rapid price deceleration in the face of the COVID-19 situation than did their previous 12-month forecast t hat ended in April of next year. In its report last month CoreLogic said it expected that "the housing market may be equipped to lead the broader economy through the recovery" but that home prices increases would slow and that the gain from April to May would be only 0.3 percent. They went on to predict that 2021 would bring the first decline in nine years, and by April 2021 the national price gain would turn negative, down 1.3 percent. Today the company says that pent-up demand and tightening supply continued to prop up home prices in

July 8, 2020 Download our Mobile App: Download our Mobile App: Housing News 2021 Could See First Decline in Home Prices in 9 Years Did the housing happy talk just get a little less so? CoreLogic's Housing Price Index Forecast (HPI) over the May 2020 to May 2021 window is seeing more rapid price deceleration in the face of the COVID-19 situation than did their previous 12-month f... (read more) MBS Commentary MBS Live Recap: Closer Look at Stocks vs Rates Bonds Pull Back, But It's Still a Waiting Game Despite some modest weakness to begin the day, bonds remain smack dab in the center of their recent range.  We've officially begun the waiting game. &n... (read more) Mortgage Rate Watch Mortgage Rates Just Got Even Lower Mortgage rates were already at all-time lows yesterday, and had been holding at those levels for at least 3 business days for the average lender. I normally tell people that mortgage lenders are hesitant to drop rates very aggressively when they're a... (read more) Housing News Mortgage Application Volume Recovers its Momentum Mortgage application volume bounced back into positive territory last week , even though banks and many businesses were closed on Friday for the Independence Day Holiday. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measu... (read more) Rob Chrisman U/W, LO, Processor Jobs; Lead, Broker, AMC Products; Upcoming Training; a Peek at Rocket Companies Crazy times. Brooks Brothers filed for Chapter 11 bankruptcy. Rocket Companies filing for an IPO. Genworth Mortgage Insurance completing an excess of loss reinsurance transaction. It is easy to argue that it is the fear of the virus that is impacting... (read more) Housing News Study Shows Low Housing Supply Leads to Gentrification A study by the Urban Institute (UI) has found a strong correlation between the home price to income ratio in an area and its rate of gentrification. The results are published on UI's Urban Wire blog in a post written by analysts Ellen Seidman, Jun Zh... (read more) 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 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: 7/6 4:45PM 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: 7/6 4:45PM EST Latest Video St. Louis Fed President James Bullard on U.S. economic recovery amid rising... Markets likely won't break out until after the elections, says Wells Fargo'... Here are the housing markets that have been hit the hardest by the pandemic Cleveland Fed president on what the path to economic recovery could look li... Around the Web CNBC Fed's Bullard sees unemployment falling to as low as 7% this year CNBC Two-thirds of laid off workers eligible for benefits that exceed their wages: NBER paper Calculated Risk Blog Houston Real Estate in June: Sales Up 18.3% YoY, Inventory Down 17.5% YoY, Concerns going forward Redfin House Hunting? 10 Potential Red Flags to Be Aware of CNBC 32% of U.S. households missed their July housing payments Calculated Risk Blog Census: Household Pulse Survey shows 34.9% of Households Expect Loss in Income; 25.9% Concerned about Housing NAHB Eye on Housing Economic Well-Being of U.S. Households (Part 2) Calculated Risk Blog U.S. Heavy Truck Sales down 42% Year-over-year in June Calculated Risk Blog MBA: Mortgage Applications Increase in Latest Weekly Survey CNBC Homebuyer mortgage demand spikes 33% as rates set another record low Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases for Third Straight Week to 8.39%" of Portfolio Volume CNBC Fed's Mester says economic growth 'leveling off,' sees more help needed CNBC Tilman Fertitta calls for federal virus rules, says it's 'ridiculous' to open and re-close businesses

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