Daily Rate Update: June 21st-25th

Tuesday – June 22, 2021 Existing Home Sales fell nearly 1% in May from April to an annual rate of 5.80 million units versus the 5.71 million expected. However, sales are up 44.6% from a year ago when most of … Read More

Start This Week Floating Rates

Mortgage rates are well off overnight lows from Friday. There could be a reversal higher come later this week. Pay attention to the 10-year-yield – we want to see it hold beneath 1.50%. Mortgage Bonds are also moving in lockstep … Read More

Daily Rate Update: June 14th-18th

Friday – June 18, 2021 A negative reaction from a Fed member quickly reversed sentiment in the U.S. financial markets this morning. “Inflation is more intense than expected while upside risk of inflation is okay since that is what the … Read More

You Have The Money, Now You Just Need The House

Homebuyers are feeling pretty discouraged by the housing market these days. The latest Fannie Mae Home Purchase Sentiment Index shows that just 35% of consumers believe now is a good time to buy a home, down from 47% in April. And those … Read More

Daily Rate Update: June 7th-11th

Thursday – June 10, 2021 Home borrowing costs inched lower this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage fell three basis points to 2.96% with 0.6 in points and fees. A year … Read More

It’s Just The Facts: May 2021

WE DID, HOW ABOUT YOU? – 59% of US households made a “large purchase” during the first 4 months of 2021, i.e., January 2021 through and including April 2021, the highest percentage reported in 5 years.  “Large purchases” include furniture, … Read More

Daily Rate Update: June 1st-4th

Thursday – June 3, 2021 First-time unemployment claims fell to the lowest level since the shutdowns began last year. Weekly Initial Jobless Claims decreased to 385,000 for the week ended May 29, 2021, from 405,000 in the previous week. To … Read More

Housing Prices: Have They Reached Their Peak?

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. Pending sales for the seven-day … Read More

Daily Rate Update: May 24th-28th

Thursday – May 27, 2021 First-time unemployment claims fell to the lowest level since the shutdowns began last year. Weekly Initial Jobless Claims decreased to 406,000 for the week ended May 22, 2021, from 444,000 in the previous week. To … Read More

Technical Look At The Mortgage Market

Since the beginning of the pandemic, the government has extended 6 times the moratorium on foreclosures and evictions on federally backed, single-family home mortgages. The most recent extension expires on 6/30/2021. At the same tie, inflation is up 4.2% on … Read More

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