Sales of existing homes fell again in January, the second consecutive month-over-month decline. Sales of pre-owned single-family homes, townhomes, condos, and cooperative apartments were down 3.2 percent compared to December, and the seasonally adjusted annual sales in December, already estimated at a 3.6 percent decline, were revised down even further. The National Association of Realtors® (NAR) said existing homes sold during the month at a seasonally adjusted rate of 5.38 million, representing a year-over-year decline of 4.8 percent. It was the slowest sales pace since last September and the largest annual loss since a 5.5 percent decline in August 2014. December sales were revised down from 5.570 million to 5.56 million. The months sales results were broad-based. All four U.S. regions

February 21, 2018 Download our Mobile App: Download our Mobile App: Housing News Existing Home Sales Decline, Inventory Still a Big Issue Sales of existing homes fell again in January, the second consecutive month-over-month decline. Sales of pre-owned single-family homes, townhomes, condos, and cooperative apartments were down 3.2 percent compared to December, and the seasonally adjus... (read more) MBS Commentary MBS Live Day Ahead: Markets Expecting a Challenging Auction and Hawkish Fed Minutes Today's key events arrive in the afternoon in the form of a 5yr Treasury auction at 1pm and the release of the FOMC Minutes at 2pm.  Not to be confused with the Fed Policy Announcement, the Minutes simply provide a more detailed account of the... (read more) Housing News Mortgage Apps Finally Feeling Effects of Higher Rates Mortgage application volumes suffered their worst losses of 2018 last week. The Mortgage Bankers Association (MBA) said both purchase mortgages and applications for refinancing were down significantly during the week ended February 16 compared to the... (read more) Rob Chrisman Flagstar's Expansion; News Regarding Freddie and Fannie Why couldn’t the sesame seed leave the gambling casino? Because he was on a roll. In an admittedly weak segue, rolls are made in kitchens, and LOs may want to pass this link along to their Realtor clients: here are the top trends this year in k... (read more) Mortgage Rate Watch Mortgage Rates Unable to Extend Last Week's Gains Mortgage rates moved back up today after ending last week on a positive note. Improvements in rates have been uncommon so far in 2018. In fact, we haven't seen more than 2 consecutive days without a move higher. In that sense, today keeps the prevail... (read more) MBS Commentary MBS Live Recap: Unofficial 4th Day of Weekend Leaves Bonds Slightly Weaker Today was a total dud in terms of volume and volatility.  That's not all that uncommon on the Tuesday following a 3-day weekend, especially if there are no major events or headlines.   Overnight bond market movement was dictated by a... (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 98.84 -0.09 Price / Yield Change MBS UMBS 5.5 98.84 -0.09 UMBS 6.0 100.49 -0.07 GNMA 5.5 99.47 -0.10 GNMA 6.0 100.64 -0.07 Pricing as of: 11/14 10:33PM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.354 +0.004 5 YR Treasury 4.341 +0.015 7 YR Treasury 4.405 +0.018 10 YR Treasury 4.461 +0.022 30 YR Treasury 4.612 +0.029 Pricing as of: 11/14 10:33PM EST Latest Video Fed: Upward trajectory for rates would be appropriate Home sales, supply down as rates continue rising Santelli Exchange: Yields on the move Around the Web consumerfinancemonitor.com New HMDA Guide Issued by the FFIEC NY Times Fed Officials Say Economy Is Ready for Higher Rates CNBC Homeownership is increasingly for the wealthy Federal Reserve Minutes of the Federal Open Market Committee, January 30-31, 2018 CNBC Fed minutes: All signs pointing to more rate hikes ahead CNBC JP Morgan's branch warfare' to beat up on Wells, support 19% stock surge: Morgan Stanley Calculated Risk Blog A Few Comments on January Existing Home Sales NAR - Realtor.com Lack of Homes on the Market Takes a Toll on First-Time Buyers CNBC Homeownership is increasingly for the wealthy Calculated Risk Blog AIA: "Architecture billings continue growth into 2018" CNBC Fed should raise rates gradually this year, Kaplan says CNBC Market awaits first Fed report after Yellen's hand-off to Powell CNBC Fed's Harker expects two US rate hikes this year

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