Home Sales
New Home Sales on the Rise 4.3% in January
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Posted To: MND NewsWire

New home sales continued the turnaround, started in December, that ended three straight months of slowing sales. The U.S. Census Bureau and Department of Housing and Urban Development said newly constructed homes were sold in January at a seasonally adjusted annual rate of 923,000 units. This is an increase of 4.3 percent compared to the upwardly revised (from 842,000) rate of 885,000 in December and 19.3 percent above the estimate of 774,000 units in January 2020. Analysts polled by Econoday had projected sales to be flat compared to the December estimate, in a range of 809,000 to 905,000 units. Their consensus was 855,000 annualized sales. Robert Dietz, chief economist for the National Association of Home Builders, said "Housing affordability headwinds are rising for 2021, due to supply-side...(read more)

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MBS RECAP: Is It Another Trap and Which Coupon Do I Watch Now?
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Posted To: MBS Commentary

Is It Another Trap and Which Coupon Do I Watch Now? Yesterday's bond market resilience offered hope for a bounce, but those hopes were crushed by new weakness this morning. The move took MBS to their worst levels since last March and Treasuries, since February 2020. Bonds recovered mid-day, begging the question: is this another trap? Do we just get crushed again tomorrow? Today's video discusses those prospects as well as the reasons for the shift to 2.5 UMBS 30yr fixed coupons. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm New Home Sales 923k va 855k f'cast, 885k prev 5yr auction: weak. 0.7bps higher than expected. Bid to cover 2.24 vs 2.45 avg Market Movement Recap 08:53 AM modestly stronger in Asia, moderately weaker in Europe, and now sharply weaker as the domestic session...(read more)

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U.S. new-home sales increased in January by more than forecast
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Purchases of new single-family homes increased 4.3% to a 923,000 annualized pace in January from an upwardly revised 885,000 rate in the prior month, government data showed Wednesday.
Rising Rates Damp Mortgage Applications Ahead of Spring Selling Season
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Thomas A. Ferrara/Newsday RM via Getty Images)Mortgage rates reached their highest level since November last week, cooling off home purchase and refinance applications ahead of the all-important spring selling season.

The post Rising Rates Damp Mortgage Applications Ahead of Spring Selling Season appeared first on Real Estate News & Insights | realtor.com®.

Mortgage Application Volume Continues Decline
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Posted To: MND NewsWire

The volume of mortgage applications for both home purchase and refinancing fell for the third straight time during the week ended February 19. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, dropped 11.4 percent on a seasonally adjusted basis. It was the largest single week decline since the week ended April 3, 2020. On an unadjusted basis the index was down 10.0 percent. The Refinancing Index decreased 11 percent from the previous week but was still 50 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 68.5 percent of total applications from 69.3 percent the previous week. The seasonally adjusted Purchase Index dropped 12 percent and was 8 percent lower before adjustment. Activity was 7 percent...(read more)

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MBS RECAP: Glimmer of Hope in Bonds, But It Might Be a Trap
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Posted To: MBS Commentary

Glimmer of Hope in Bonds, But It Might Be a Trap Bonds started the day in roughly unchanged territory and promptly began tanking. This was a bigger deal for MBS than Treasuries as the latter managed to stay UNDER yesterday's intraday high yields. Heavy losses in stocks at the NYSE open helped bonds a bit, but weakness returned ahead of Powell's congressional testimony. As Powell spoke, yields healed and bonds eventually turned green. This makes for a promising technical cue as far as charts are concerned, but for reasons discussed in today's video, it might make sense to wait for just a bit more convincing before shifting your lock/float approach in this market. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Case Shiller Home Prices (y/y) 10.1 vs 9.9 f'cast, 9.2 prev FHFA...(read more)

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MBS RECAP: Glimmer of Hope in Bonds, But It Might Be a Trap
By admin | |

Posted To: MBS Commentary

Glimmer of Hope in Bonds, But It Might Be a Trap Bonds started the day in roughly unchanged territory and promptly began tanking. This was a bigger deal for MBS than Treasuries as the latter managed to stay UNDER yesterday's intraday high yields. Heavy losses in stocks at the NYSE open helped bonds a bit, but weakness returned ahead of Powell's congressional testimony. As Powell spoke, yields healed and bonds eventually turned green. This makes for a promising technical cue as far as charts are concerned, but for reasons discussed in today's video, it might make sense to wait for just a bit more convincing before shifting your lock/float approach in this market. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Case Shiller Home Prices (y/y) 10.1 vs 9.9 f'cast, 9.2 prev FHFA...(read more)

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MBS Week Ahead: Battle to Find a Rate Ceiling Continues
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Posted To: MBS Commentary

Bond yields have been surging higher in February with last week bringing the sharpest losses so far. The move has surprised more than a few market participants. To be sure, the pace of selling doesn't seem to fit with the economic reality at first glance. Moreover, the higher yields have gone, the more expectations have increased for a technical correction. In other words, we have to find a ceiling soon, even if it's only temporary. It looked like we found that ceiling in the middle of last week, but Friday saw yields break to new highs. Now as the new week begins, we have more new highs (overnight) and more new hope for a ceiling bounce as bonds are rallying early. On the data front, this week's headliners include Durable Goods, Core PCE, and the 5/7yr Treasury auctions. With the...(read more)

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SOTM 4: Major Market Slowdown and Keller Williams’ New iBuyer Program
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Agents around the nation are reporting major slowdown in their markets. On today’s State of the Market podcast, we discuss what could be causing home sales to slow and ways to predict whether or not things will worsen. We also cover Keller Williams’ controversial new plan to launch an iBuyer program. Other news highlights include Fannie Mae stock soaring amid plans for its release from government control and Dropbox’s acquisition of HelloSign. Get Instant Access to Hundreds of Free Real Estate Tools Visit hibandigital.com/toolbox Claim Real Estate Discounts, Free Trials, and More Visit hibandigital.com/resources Sponsors Rebus University - Get Over $10,000 in Real Estate Training for as Little as $97 Visit futureofrealestatetraining.com PadHawk - Find Your Market's Best Leads for FREE with a 7-Day Trial Visit padhawk.com Roddy's FLS - Discover Unbeatable Real Estate Deals with a FREE Foreclosure List Visit 4closure.info Learn more about your ad choices. Visit megaphone.fm/adchoices
Existing Home Sales Hit 14-Year High in 2020
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Sales of existing homes totaled 5.64 million units last year, the highest since 2006. So reports CNBC. According to the National Association of Realtors, Dec
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