The bidding wars are back . With home prices and sales back to or above pre-crisis levels and the inventory of available homes at records lows, CoreLogic's Shu Chen says that a large and increasing share of homes sold at or above their listing prices in 2017. In September that share was back to early 2004 levels, up almost three times from the 2008 level . Those at-and-above list sales represented more than one-fifth of all transactions. Of course, under the "all real estate is local" rule, there is a wide range in the level of bidding activity. In San Francisco 76 percent of sales were at the asking price or higher , while in Miami only 16 percent of sales reflected pressure from buyer bidding. Of the 16 Core-Based Statistical Areas (out of the 66 CoreLogic tracked) in Figure 2, the top five

January 19, 2018 Download our Mobile App: Download our Mobile App: Housing News Auction Fever Heats Up Home Sale Prices The bidding wars are back . With home prices and sales back to or above pre-crisis levels and the inventory of available homes at records lows, CoreLogic's Shu Chen says that a large and increasing share of homes sold at or above their listing prices... (read more) Housing News FHFA Director Watt Weighs in on Financial Reform Debate Bloomberg News is reporting on a proposal from Federal Housing Finance Agency (FHFA) Director Melvin Watt regarding the future of Fannie Mae and Freddie Mac (the GSEs). The two former companies, which have been in conservatorship under FHFA since 200... (read more) Housing News Urban Institute Weighs in on the Rent vs. Own Under New Tax Bill While recently passed Tax Cuts and Jobs Act will benefit the take-home pay of most Americans, and allow them to save up to buy a home if they wish, other factors will offset that benefit . This will make renting look more attractive than homeownershi... (read more) MBS Commentary MBS Live Day Ahead: Buyers Still Alive, But Still Waiting to Charge Yesterday's recap is a good read if you didn't happen to catch it.  Here's a link. In general, there are 2 things going on with rates right now.  1. confirmed uptrend beginning in mid-December and still intact 2. lurking buyers p... (read more) Rob Chrisman Report From NEXT; Lender and Investor Freddie/Fannie Changes: Part Three As if we don’t have enough measures of housing and real estate prices, here’s another one. The RE/MAX National Housing Report tells us what most already knew: The median home price rose 8.1% year-over-year, with 50 of the report’s 5... (read more) MBS Commentary MBS Live Recap: Not The Kind of "Interesting" We Were Looking For Well... at least things are interesting .  The winter holidays are always a challenge from an analytical and market-watching standpoint.  It seems like a vast oversimplification (indeed, I didn't believe it was true when someone tried to e... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.93 -0.07 Price / Yield Change MBS UMBS 5.5 98.93 -0.07 UMBS 6.0 100.56 -0.06 GNMA 5.5 99.57 -0.10 GNMA 6.0 100.71 -0.11 Pricing as of: 11/14 6:16PM EST 10 Year US Treasury 4.4388 -0.0252 Price / Yield Change US Treasury 2 YR Treasury 4.350 +0.077 5 YR Treasury 4.326 +0.026 7 YR Treasury 4.387 +0.015 10 YR Treasury 4.439 -0.025 30 YR Treasury 4.584 -0.050 Pricing as of: 11/14 6:16PM EST Latest Video Sen. Chuck Schumer heads to the White House as shutdown looms Here's how rent changed in 2017 in 5 major cities We don't think the market will care if there is a government shutdown: Anal... Around the Web NPR World's Regard For U.S. Leadership Hits New Record Low In Gallup Poll CNBC Possible government shutdown won't affect US's AAA status, Fitch ratings agency says Calculated Risk Blog Government Shutdown: Economic Data Likely to be Delayed PR Newswire Lawyers Representing Homeowners Flooded in Hurricane Harvey File Amended Complaint Bloomberg European Insurers Find Yield in US Municipal Bond Market Redfin Amazon: Here's Where Seattleites Are Already Looking to Move CNBC Rising mortgage rates could mean even fewer homes for sale this spring CNBC Consumer sentiment hits 94.4 in January vs. 97 estimate CNBC 'Shutdown coming?' All eyes are on divided Senate, Trump as deadline threatens Bloomberg ECB Seen Closer to Signaling End to QE as Hawks Gain Influence CNBC 10-year Treasury yield jumps to its highest level since 2014 Reuters U.S. workforce shortages bolster case for Fed rate hikes Freddie Mac Freddie Mac January 2018 Outlook

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