Daily Newsletter: Census Bureau Reports Little Change in Homeownership Rates

The U.S. Census Bureau says the nation’s homeownership rate was essentially unchanged through 2021. While it dipped 0.3 percentage point from the fourth quarter of 2021, was at 65.6 percent in Q1 and finished the year at 65.5 percent. The Midwest remained the region with the highest homeownership rate at 70.1 percent while the West was lowest at 60.5 percent. The rate among those under the age of 35 years was 38.3 percent jumping to 61.4 percent among those in the next ten-year cohort. The oldest age group, those 65 or older, had a rate of 79.4 percent. The rate for all age groups with the exception of those 35 to 44 was slightly lower than in the fourth quarter of 2020. White, non-Hispanics remained the group with the highest ownership rate at 74.4 percent, largely unchanged from the previous fourth quarter, however the rate of Black homeownership dropped 1 point to 43.1 percent, further widening a white-black gap that had been narrowing prior to the pandemic. Homeownership among Asians, Native Hawaiians, and Pacific Islanders rose 1.6-point year-over-year while the rate for Hispanics declined slightly. The homeowner vacancy rate in the fourth quarter was 0.9 percent compared to 1.0 percent a year earlier, but it has declined a half point since the beginning of the pandemic. The rental vacancy rate is up 0.7 point from the prior quarter but nearly a point lower than in the fourth quarter of 2020.

February 3, 2022 Housing News Census Bureau Reports Little Change in Homeownership Rates The U.S. Census Bureau says the nation’s homeownership rate was essentially unchanged through 2021. While it dipped 0.3 percentage point from the fourth quarter of 2021, was at 65.6 percent in Q1 and finished the year at 65.5 percent. The Midwest r... (read more) Housing News Single-Family Construction Spending Rose by One-Third Last Year Construction spending totaled $1.599 trillion in 2021, an increase of 8.2 percent from the $1.470 trillion spent in 2020. Residential spending, both public and private, was the only sector to post a double digit increase at 22.9 percent, while seve... (read more) Rob Chrisman Hedge Cost, QC, Compliance Tools; Investor FHA Changes; Upcoming In-person Events Andy Rooney died over ten years ago. Many will say that Bill Mahr has taken his place, albeit with saltier language and a political bent. In this piece, Mahr discusses his thoughts on young people in “Gen Z” and “van life” which I found humorous. It ... (read more) Mortgage Rates Mortgage Rates Jump Back Up to Long-Term Highs What a difference a day makes. Unfortunately, it's an unpleasant difference in this case as mortgage rates went from the lowest levels in more than a week back up to the 2 year highs in less than 24 hours. This was partly due to the size of today's rate spike, but mostly due to the fact that rates didn't ever make it too far below 2 year hig... (read more) 30 Yr. Fixed Rate 3.73% +0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 3.73% +0.07 0.40 15 Yr. Fixed 3.00% +0.05 0.40 30 Yr. FHA 3.45% +0.07 0.00 30 Yr. Jumbo 3.38% +0.05 0.00 5/1 ARM 3.65% +0.01 0.50 Updates Daily - Last Update: 2/3 15 Yr. Fixed Rate 3.00% +0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 3.55% 0.00 0.80 15 Yr. Fixed 2.77% -0.03 0.70 5/1 Yr. ARM 2.71% +0.01 0.30 Updates Weekly - Last Update: 2/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 3.78% +0.06 0.41 15 Yr. Fixed 3.01% +0.01 0.41 30 Yr. Jumbo 3.59% +0.03 0.31 Updates Weekly - Last Update: 2/2 MBS / Treasuries MBS Live Recap: Weakness Reinforces Range Ahead of Jobs Report Weakness Reinforces Range Ahead of Jobs Report Foreign central bank announcements pushed bond yields higher early in the day, never to recover. 10s closed up more than 5bps and MBS lost more than a quarter point. This weakness takes both MBS and Treasuries squarely back across the mid-point of the co... (read more) UMBS 30YR 3.0 101.84 -0.31 Price / Yield Change MBS UMBS 3.0 101.84 -0.31 UMBS 3.5 104.00 -0.19 GNMA 3.0 102.03 -0.33 GNMA 3.5 103.36 -0.27 Pricing as of: 2/3 5:21PM EST 10 Year US Treasury 1.8324 +0.0609 Price / Yield Change US Treasury 2 YR Treasury 1.198 +0.048 5 YR Treasury 1.674 +0.071 7 YR Treasury 1.800 +0.066 10 YR Treasury 1.832 +0.061 30 YR Treasury 2.155 +0.049 Pricing as of: 2/3 5:21PM EST Latest Video Housing wealth soars as home equity grows by 42% The 9am Bond Report - January 3, 2022 ECB leaves rates unchanged, will discontinue asset purchases The 2pm Bond Report - February 3, 2022 Around the Web Reuters U.S. oil busts through $90/bbl for first time since 2014 Redfin Housing Market Update: Expect Price Growth to Slow, Sales to Stay Flat as Mortgage Rates Approach 4% This Year CNBC Weekly jobless claims total 238,000, less than expected CNBC Housing wealth is setting new records for both owners and sellers Calculated Risk Blog Update: Framing Lumber Prices Up More Than Double from Two Years Ago Freddie Mac Freddie Selling Updates Related to COVID-19 for Self-Employed Income CNBC Bank of England hikes rates in first back-to-back rise since 2004 Calculated Risk Blog Goldman January Payrolls Preview CNBC European Central Bank keeps interest rates unchanged despite record inflation Calculated Risk Blog ISM Services Index Decreased to 59.9% in January CNBC January's payrolls report on Friday could be rough with as many as 400,000 jobs lost by one estimate CNBC Treasury yields inch higher with continued focus on jobs data Calculated Risk Blog HVS: Q4 2021 Homeownership and Vacancy Rates

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