Mortgage Rates Are Low and Stable, But Face Bigger Risks Tomorrow
Mortgage rates moved lower today, bringing the average lender to the best levels since late February. Despite the milestone, the day-over-day movement in rates has been pretty mild. Most lenders are making changes that are only noticeable in the form of upfront costs (aka “points”) as opposed to rates themselves. If we use upfront costs […]
Mortgage Rates Sideways Near 2-Month Lows
Mortgage rates were mixed today, depending on the lender. On average, rates were unchanged and remained very close to their lowest levels in nearly 2 months. The bond market (which most directly impacts day-to-day rate movement) was calm. Both of today’s important economic reports came in weaker than expected, but close enough to forecasts to […]
NAR Statement on Wednesday’s Tragedy in Watertown, N.Y.
Statement on Tragedy in Watertown, N.Y. 2021 NAR President Charlie Oppler expressed his deepest sympathies and support to the loved ones and community affected by this tragedy. Media Contact: Wesley Shaw 202-383-1193 Safety
Early Q2 GDP Forecasts: 10%
From Goldman Sachs: We launched our Q2 GDP tracking estimate at +10.5% (qoq ar) . [Apr 30 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 5.3% for 2021:Q2 . [Apr 30 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth […]
Stimulus and Vaccinations Boost Q1 GDP and March Savings
Economic and Housing Weekly Note – April 30, 2021…(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
Pending Home Sales Rise Less Than Expected as Inventory Remains Ultra Tight; Rates Recover After Bumpy Start; Digital Lending Speeds Things Up
While the degree to which is happened was somewhat disappointing, pending home sales did snap out of a two-month slump in March . The National Association of Realtors’® (NAR’s) Pending Home Sales Index (PHSI) rose 1.9 percent to 111.3 in March and is now up 23.3 percent compared to March 2020. However, NAR points out […]
CFPB Consumer Complaint Bulletin Examines County-Level Demographic Data
Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
Demand for Residential, Industrial, and Recreational Land Increases During the Pandemic
Land sales rose at a healthy pace in 2020 compared to the collapse in transactions of commercial real estate structures. www.nar.realtor – Research
Disconnect Between Home Sales, Prices, and Rates
Posted To: Mortgage Rate Watch This week’s New Home Sales report (for the month of March) stole the show, coming in over 1 million for the first time since 2006. But although sales are up 66% year-over-year, prices have fallen in recent months and are now basically unchanged from last year. What’s up with that? […]
Existing Home Price Appreciation Hits All-Time High and New Home Sales Bounce Back
Economic and Housing Weekly Note – April 23, 2021…(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web