Daily Newsletter: Price Gains Slow; Will We See 7% Next Year?

Home price gains slowed slightly in October with both S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reporting lower annual increases in October than in September. There was a slight uptick, however, in the monthly gain in FHFA's House Price Index (HPI). The Case Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, rose 19.1 percent on an annual basis in October. The annual gain in September was 19.7 percent. The 10 City Composite came in with a 17.1 percent increase, down from 17.9 percent and the 20-City Composite posted an 18.4 percent year-over-year gain compared to 19.1 percent the previous month. Phoenix had the highest annual appreciation, its 29 th consecutive month in first place, at 32.3 percent. Tampa, and Miami retained their

December 30, 2021 Housing News Price Gains Slow; Will We See 7% Next Year? Home price gains slowed slightly in October with both S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reporting lower annual increa... (read more) Housing News Price Gains Slow; Will We See 7% Next Year? Home price gains slowed slightly in October with both S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reporting lower annual increases in October than in September. There was a slight uptick, however, in the monthly gain ... (read more) Housing News Pending Sales Fall; Yun Calls Prices “Exorbitant,” Buyer Competition “Unrelenting” When pending home sales jumped 7.5 percent in October rather than the fractional increase expected, Lawrence Yun, chief economist for the National Association... (read more) Housing News Pending Sales Fall; Yun Calls Prices “Exorbitant,” Buyer Competition “Unrelenting” When pending home sales jumped 7.5 percent in October rather than the fractional increase expected, Lawrence Yun, chief economist for the National Association of Realtors® (NAR) viewed the change as defensive. Fast-rising rents and an anticipated i... (read more) Rob Chrisman Workflow, Vendor, Digital Processing Tools; Warehouse Bank Wanted; Freddie and Fannie News Do we have an 8-year memory in an industry with 10-year business cycles? Bridging the gap between affordability, qualifying with a low income, and rising house ... (read more) Rob Chrisman Workflow, Vendor, Digital Processing Tools; Warehouse Bank Wanted; Freddie and Fannie News Do we have an 8-year memory in an industry with 10-year business cycles? Bridging the gap between affordability, qualifying with a low income, and rising house prices are not issues confined to the United States. A new company and product out of Lond... (read more) Mortgage Rates Highest Rates in a Month, But Just Barely Mortgage rates began the week in decent shape, but moved higher somewhat abruptly yesterday. Context is important though. The smallest increment of adjustment for mortgages is typically 0.125%, and we haven't seen a move that big since early November. In fact, the overall range in 30yr fixed rates hasn't even been 0.125% during that time! ... (read more) 30 Yr. Fixed Rate 3.27% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 3.27% 0.00 0.40 15 Yr. Fixed 2.60% 0.00 0.40 30 Yr. FHA 2.88% 0.00 0.00 30 Yr. Jumbo 3.13% 0.00 0.00 5/1 ARM 3.33% 0.00 0.50 Updates Daily - Last Update: 12/30 15 Yr. Fixed Rate 2.60% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 3.11% +0.06 0.70 15 Yr. Fixed 2.33% +0.03 0.70 5/1 Yr. ARM 2.41% +0.04 0.50 Updates Weekly - Last Update: 12/30 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 3.30% -0.01 0.43 15 Yr. Fixed 2.63% +0.01 0.31 30 Yr. Jumbo 3.27% -0.06 0.35 Updates Weekly - Last Update: 12/8 MBS / Treasuries MBS Live Recap: Bonds Snap Back Into Holiday Mode Bonds Snap Back Into Holiday Mode Wednesday's abrupt sell-off increasingly looks like the market's way of getting caught up after 2 days of holiday closures in London (when London is closed, cash Treasuries don't trade overnight during the European session). Things were a bit touch and go this morning as yields... (read more) UMBS 30YR 2.5 101.92 +0.13 Price / Yield Change MBS UMBS 2.5 101.92 +0.13 UMBS 3.0 103.44 +0.05 GNMA 2.5 102.31 +0.11 GNMA 3.0 103.30 +0.06 Pricing as of: 12/30 5:21PM EST 10 Year US Treasury 1.5117 -0.0448 Price / Yield Change US Treasury 2 YR Treasury 0.726 -0.026 5 YR Treasury 1.265 -0.036 7 YR Treasury 1.436 -0.030 10 YR Treasury 1.512 -0.045 30 YR Treasury 1.921 -0.046 Pricing as of: 12/30 5:21PM EST Latest Video The 9am Bond Report - December 30, 2021 Inflation ranks at biggest concern in 2022 among investors, says CNBC quart... 2-year and 10-year yields up 61 basis points year to date Real GDP could grow close to 4% in 2022, says Moody's chief economist Around the Web Calculated Risk Blog What will happen with house prices in 2022? CNBC The key to Fed rate hikes? It may end up being the 2022 paychecks of Americans CNBC What will the 2022 housing market look like? It could 'come back down to sanity' Calculated Risk Blog Question #8 for 2022: Housing Credit: Will we see easier mortgage lending in 2022? CNBC Economists warn of inflation inequality as poor get slammed by rising prices Calculated Risk Blog Real House Prices, Price-to-Rent Ratio and Price-to-Median Income in October Reuters Investor optimism lifts global stocks amid fresh U.S. jobs data Redfin Three-Quarters of Homebuyers & Sellers Report Changing Plans Due to Inflation: Redfin Survey CNBC U.S. 10-year Treasury yield holds above 1.5% NMLS NMLS Annual Renewal Period to End at Midnight, Dec. 31;Reinstatement Period Begins Jan. 2 CNBC Weekly jobless claims total 198,000, less than expected CNBC Investors fear inflation most in 2022 and see lower stock market returns, CNBC survey shows NMLS NMLS Annual Renewal Period to End at Midnight, Dec. 31;Reinstatement Period Begins Jan. 2

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