The Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market. MBA's Builder Application Survey (BAS) data for November shows mortgage applications for newly constructed home purchases falling by 14 percent compared to October. The MBA data is not adjusted to account for seasonal variations, and while sales nearly always decline this time of year, applications were also down 11 percent compared to November 2017. Based on the survey data and assumptions about market coverage and other factors, MBA estimates new home sales were running at a seasonally adjusted annual rate of 627,000 units in November. This is down 6.8 percent from the October estimate of 673,000 units. On an unadjusted basis the estimate is for 45,000

December 13, 2018 Download our Mobile App: Download our Mobile App: Housing News Not Just the Season; MBA Predicts New Home Sales Down Sharply The Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market. MBA's Builder Application Survey (BAS) data for November shows mortgage applications for newly constructed home... (read more) MBS Commentary MBS Live Day Ahead: Clear Correction May Be Finding Clear Ceiling The first 3 days of this week have offered a clear correction/consolidation to the strong rally of the previous month.  This had as much to do with timing and technicals as anything else.  In other words, the rally brought yields so much lo... (read more) Rob Chrisman Books by Lenders, For Lenders; False Claims Act Rears it's Head; LO Products and Services “Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?” It turns out that, in terms of grabbing their pieces of ground, first-time home buyers were more active in the first three quart... (read more) Mortgage Rate Watch Mortgage Rates Could Go Even Higher Mortgage rates rose more noticeably today as a part of a 3 day bounce after hitting the lowest levels in roughly 3 months at the end of last week. Whereas yesterday's increases weren't really worth mentioning, today's hurt--depending on the scenario.... (read more) Housing News Lenders Looking to New Tech as Pessimism Over Profit Margins Grows Lenders continue to be pessimistic about their profit outlook as 2018 draws to an end. Fannie Mae said its fourth quarter 2018 Mortgage Lender Sentiment Survey found the profit outlook reported by respondents at an all-time survey low. This was true ... (read more) MBS Commentary MBS Live Recap: MBS Handily Outperform Treasuries as Consolidation Continues Today's trading session was far less eventful than anything else seen in the past few weeks, both in terms of movement and volume.  Although Treasury yields were higher, most of the increase came in the overnight session, and additional volatili... (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 98.91 -0.02 Price / Yield Change MBS UMBS 5.5 98.89 -0.04 UMBS 6.0 100.55 -0.01 GNMA 5.5 99.52 -0.04 GNMA 6.0 100.68 -0.03 Pricing as of: 11/15 3:48AM EST 10 Year US Treasury 4.4458 +0.0070 Price / Yield Change US Treasury 2 YR Treasury 4.337 -0.013 5 YR Treasury 4.327 +0.001 7 YR Treasury 4.390 +0.003 10 YR Treasury 4.448 +0.010 30 YR Treasury 4.604 +0.021 Pricing as of: 11/15 3:48AM EST Latest Video Here are the results from CNBC's All-America Economic Survey Moody's economist: Next recession is coming into view Initial jobless claims fall to near 49-year low Around the Web Bloomberg GOP Hurtles Toward Shutdown With No Plan to Avoid It Reuters U.S. government posts $205 billion deficit in November Reuters ECB ends crisis-fighting bond buys but eyes increasing risks Reuters Bond giant Pimco expects 30 percent chance of U.S. recession in '19 consumerfinancemonitor.com CFPB issues annual fair lending report Calculated Risk Blog Hotels: Occupancy Rate Decreased Year-over-year CNBC Homebuilders are not getting a bump from lower mortgage rates NAHB Eye on Housing Custom Home Building Annual Share CNBC Import prices post biggest drop in more than three years Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 206,000 CNBC This is the one chart the Fed must watch right now, veteran economic forecaster says Reuters ECB formally ends QE, keeps reinvestments open-ended Redfin Housing Inventory Up 5% in NovemberFastest Growth in 3 Yearsas Sales Decline 8%

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