Residential Real Estate
Mortgage Rates Moving Higher So Far This Week
Mortgage rates are coming off a solid performance last week after having moved to the lowest levels in 5 months by Thursday afternoon. This week is shaping up to be a bit different , however. In fact, as of this afternoon, the average lender has lost most of last week’s improvements. What’s behind the volatility? […]
NAR Issues Statement on Supreme Court’s CDC Eviction Ban Ruling
NAR Comments on Supreme Court’s CDC Eviction Ban Ruling With the pandemic waning and the economy improving, it is time to restore the housing sector to its healthy, former function. Media Contact: Wesley Shaw 202-383-1193 Coronavirus
Q&A Corner with Lawrence Yun: Vacation Homes, Inflation, and Cash Sales
NAR Chief Economist Lawrence Yun shares his thoughts on what’s happening in vacation home sales, with rising inflation, and the high number of recent all-cash home sales in the latest data. www.nar.realtor – Vacation, Resort, and Second Homes
Sellers Are Rejecting FHA/VA Backed Offers; Buyers Passing Instead of Compromising
The Urban Institute (UI) says it appears that the current sellers’ market is having a negative impact on government backed loans and the borrowers who need to use them. In an article posted on UI’s Urban Wire blog, Janneke Ratcliffe and Laurie Goodman write that, while soaring home prices and historically low inventories of available […]
Q2 GDP Forecasts: Revised Down, under 10%
From BofA: The construction spending data sliced another 0.5pp from 2Q GDP tracking, leaving us at a still impressive 9.5% qoq saar . [July 2 estimate] emphasis added From Goldman Sachs: We left our Q2 GDP tracking estimate unchanged at +8.5% (qoq ar) . [July 2 estimate] From the NY Fed Nowcasting Report The New […]
Pending Home Sales Bounce Back 8.0% in May
Pending Home Sales Bounce Back 8.0% in May All four regions of the U.S. registered both month-over-month increases and year-over-year gains for pending home sales contract transactions in May. Media Contact: Quintin Simmons 202-383-1178
Trade Deficit Increased to $71.2 Billion in May
From the Department of Commerce reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $ 71.2 billion in May, up $ 2.2 billion from $ 69.1 billion in April, revised. May exports were $ 206.0 billion, $ 1.3 billion more than April […]
The Forbearance Period is Ending: What’s the Impact on Foreclosures, House Prices, Supply, and Homeownership?
Foreclosures will likely widen the already alarming homeownership gap among income groups and racial groups, with low income and minority groups twice as likely to face foreclosure than higher income and non-minority groups and homeowners of FHA-insured loans three times as likely to face foreclosure. www.nar.realtor – Research
MBS RECAP: Small, Defensive Shift Heading Into The Weekend
Posted To: MBS Commentary Small, Defensive Shift Heading Into The Weekend The highest core inflation in decades proved to be no big deal this morning. In fact, bonds rallied. Unfortunately, that set up for a technical selling opportunity as traders pared long positions heading into the weekend. The selling stalled right at the 1.53% technical […]