Adverse Market Fee About to be History
It is nice to end the week with good news, so here it is: The Federal Housing Finance Agency (FHFA) just announced it is eliminating the Adverse Market Refinance Fee that the GSEs Fannie Mae and Freddie Mac have been charging. The change becomes effective for loan deliveries on and after August 1, 2021. The 50-basis […]
MBS RECAP: Bonds Keep Running The Table Without Much Motivation
Posted To: MBS Commentary Bonds Keep Running The Table Without Much Motivation The absence of overt, discrete motivation is one of the most interesting facets of the bond rally over the past few weeks. If anything, the overt/discrete stuff has made stronger cases for bond market weakness (i.e. high inflation reports and weak auctions). This […]
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 […]