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The COVID-19 outbreak struck a major blow to builder confidence in April. The prospect of widespread shutdowns of businesses and prolonged shelter at home orders sent the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) spiraling down 42 points, its largest monthly change in a more than 30 year history, to a reading of 30. The index, a measure of home builder confidence in the market for new homes, recovered slightly in May, rising 7 points. This morning NAHB said, in a sign that housing stands poised to lead a post-pandemic economic recovery , its index soared 21 points to 58, now only 14 points below where it finished in March. Any reading above 50 indicates a positive market. NAHB's leadership is clearly upbeat. Chairman Dean Mon said, "As the nation reopens,
Housing News
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The COVID-19 outbreak struck a major blow to builder confidence in April. The prospect of widespread shutdowns of businesses and prolonged shelter at home orders sent the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) sp... (read more)
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MBS Commentary
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Economic Hope Squares Off Against Virus Fears (Again)
Markets continue trying to sort out the prospects for a recovery vs the risk of covid-19 resurgence. Today's battle was between super strong Retail Sales ... (read more)
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Housing News
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The Federal Housing Finance Agency (FHFA) released its annual Report to Congress for 2019 on Monday. The report summarizes the FHFA's activities as regulator of the Federal Home Loan Banks (FHLBanks) and as both regulator and conservator of the GSEs ... (read more)
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Rob Chrisman
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What? You aren’t offering a 30-year rate below 3% yet? Better catch up, because that is where the mainstream press is telling borrowers rates are. Of course, us capital markets folks hate it when newspapers talk about rates, and LOs don’t... (read more)
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Mortgage Rate Watch
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Mortgage rates were slightly higher today for the average lender. Additionally, some lenders bumped rates a bit in the middle of the day in response to weakness in the bond market. That weakness is increasingly tied to broad movement playing out acro... (read more)
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Housing News
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The continued high volume of refinancing kept mortgage lenders' outlook for profits relatively high during the second quarter, although it was down slightly from the first quarter of the year. Fannie Mae's Mortgage Lender Sentiment survey found that ... (read more)
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