Analysts were expecting existing home sales to rebound in May after they fell behind year-ago levels in April. However, the National Association of Realtors® (NAR) reported a second straight monthly loss , with the Northeast the only region where sales improved. Sales of existing single-family homes, townhomes, condos, and cooperative apartments were at a seasonally adjusted annual rate of 5.43 million in May, a 0.4 percent decrease from April and down 3.0 percent from May 2017. It was the third straight year-over-year decline. April sales were also downgraded from 5.46 million to 5.45 million. The May results came in below the lowest of analysts' expectations as reported to Econoday. Those predictions ranged from 5.44 million to 5.65 million with a consensus of 5.50 million. Single-family

June 20, 2018 Download our Mobile App: Download our Mobile App: Housing News Existing Home Sales Below Expectations for Second Month Analysts were expecting existing home sales to rebound in May after they fell behind year-ago levels in April. However, the National Association of Realtors® (NAR) reported a second straight monthly loss , with the Northeast the only region where... (read more) Housing News Mortgage Application Volume Second Highest of Year Mortgage interest rates waffled, moving in different directions depending on the product last week, but the volume of mortgage applications increased rather decisively . The Mortgage Bankers Association (MBA) said its Market Composite Index, a measur... (read more) MBS Commentary MBS Live Day Ahead: Checking in With "Longer-Term Trend" I talk quite a bit about the " long-term trend " or the "longer-term trend" these days.  It most frequently comes up in some iteration of the following: "until the long-term trend has been clearly defeated," etc.  But what exactly are we ta... (read more) Rob Chrisman Credit Scoring and HR Products; Freddie and Fannie - Never Standing Still onight/tomorrow morning is the summer solstice. I am in Minneapolis at an ACUMA workshop and where the sun will set tonight at 9:03. (I suppose ACUMA could have held its event in Anchorage, where the sun sets at 11:42 tonight, which would be cool.) I... (read more) Mortgage Rate Watch Mortgage Rates Barely Budge Despite Market Gains Mortgage rates didn't move much today, despite a somewhat decent improvement in bond markets. Overnight, trade war brinksmanship between the US and China had investors seeking the safe haven of bond markets. Excess demand for bonds pushes rates lower... (read more) MBS Commentary MBS Live Recap: Lowest Yields of The Month June began with yields plateauing after rising from the Italy-inspired lows of late May.  10yr yields managed to avoid breaking above 3% until last week's much-anticipated Fed Day.  Even then, the Fed and the ECB ultimately gave way to the ... (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 98.85 -0.07 Price / Yield Change MBS UMBS 5.5 98.85 -0.08 UMBS 6.0 100.51 -0.06 GNMA 5.5 99.48 -0.08 GNMA 6.0 100.64 -0.07 Pricing as of: 11/14 11:08PM EST 10 Year US Treasury 4.4552 +0.0164 Price / Yield Change US Treasury 2 YR Treasury 4.353 +0.003 5 YR Treasury 4.339 +0.013 7 YR Treasury 4.401 +0.014 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.609 +0.026 Pricing as of: 11/14 11:08PM EST Latest Video Markets trading trade turmoil Fed’s Powell: Case remains strong for continued rate increases Escalating tariffs pose major risks to the economy Around the Web Calculated Risk Blog AIA: "Architecture firm billings strengthen in May" Bloomberg US Trade Disputes Get Top Central Bankers Increasingly Worried Bloomberg Pimco's Kiesel Warns of 'More Volatility Ahead' NAR - Realtor.com Up, Up, and Away: Prices of Existing Homes Hit All-Time High CNBC 15 cities where home prices are skyrocketing Calculated Risk Blog A Few Comments on May Existing Home Sales CNBC Chinese investment in the US drops 90% amid political pressure Brookings Institution Spurring innovation and competition in the U.S. economy consumerfinancemonitor.com Democratic Senators seek documents from Kraninger about her role in "zero-tolerance" policy CNBC Nantucket home prices hit new records CNBC Fed Chair Powell calls case 'strong' for more interest rate hikes CNBC Millennials moving out of Mom and Dad's place, study shows Reuters EU to impose duties on U.S. imports Friday after Trump tariffs

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