Home prices averaged year-over-year gains of 15 percent over the 12 months of 2021 compared to an average gain of 6.0 percent in 2020. CoreLogic’s Home Price Index (HPI) ended the year up 18.5 percent compared to the prior December. Despite indications earlier in the year that price gains were beginning to decelerate, they rose 1.3 percent in December, identical to the monthly gains reported in each of the previous three months. The annual growth is up from 18 percent in September and October. CoreLogic says, “Consumer desire for homeownership against persistently low supply of for-sale homes created one of the hottest housing markets in decades in 2021 - and spurred record-breaking home price growth. Home price growth in 2021 started off at 10 percent in the first quarter, steadily increasing and ending the year with an increase of 18 percent for the fourth quarter.” CoreLogic’s price forecast for this year anticipates that appreciation will exceed 10 percent for the first months of the year but will fall steadily to 3.5 percent by December 2022. The annual increases will average 9.6 percent. The company dismisses questions about whether the nation is currently in a housing bubble . The report says its Market Risk Indicators suggest only a small probability of a nationwide price decline, pointing instead to the larger likelihood that falling prices will be limited to specific, at-risk markets. Those locations with a high probability, over 70 percent, include Prescott and Lake Havasu City-Kingman, Arizona; Merced, California; and Worcester, MA.
Housing News | Home Price Appreciation Update Including 2022 Forecast | Home prices averaged year-over-year gains of 15 percent over the 12 months of 2021 compared to an average gain of 6.0 percent in 2020. CoreLogic’s Home Price Index (HPI) ended the year up 18.5 percent compared to the prior December. Despite indicat... (read more) |
| Housing News | Origination Report Shows Dramatic Changes Over 2021 | The monthly Originations Insight Report from ICE Mortgage Technology typically shows only incremental changes in loan characteristics from month to month. The report for December 2021 , however, allows us to see that, in some respects, the mortgag... (read more) |
| Rob Chrisman | FHA, VA News Impacting Lenders; Vendor Tools | Hundreds of billions of servicing are being bought & sold out there. With Freddie & Fannie servicing trading at 5:1 (mid 3’s for Ginnie servicing), given current rates versus where servicing portfolios are, servicers are tapping into this sou... (read more) |
| | Mortgage Rates in a Lull After January's Rapid Rise | Mortgage rates moved higher at their fastest pace in several years at the beginning of January . Even though the volatility died down after the first week, the month ended up matching last February with the average lender moving up at least half a percent on the average 30yr fixed conventional scenario. If we look back to September when rates began t... (read more) |
| | 30 Yr. Fixed Rate | 3.68% -0.01% |
| Rate | Change | Points |
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Mortgage News Daily | 30 Yr. Fixed | 3.68% | -0.01 | 0.40 | 15 Yr. Fixed | 2.96% | -0.01 | 0.40 | 30 Yr. FHA | 3.38% | 0.00 | 0.00 | 30 Yr. Jumbo | 3.34% | -0.01 | 0.00 | 5/1 ARM | 3.64% | -0.01 | 0.50 | Updates Daily - Last Update: 1/31 | |
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15 Yr. Fixed Rate | 2.96% -0.01% |
| Rate | Change | Points |
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Freddie Mac | 30 Yr. Fixed | 3.55% | -0.01 | 0.70 | 15 Yr. Fixed | 2.80% | +0.01 | 0.60 | 5/1 Yr. ARM | 2.70% | +0.10 | 0.20 | Updates Weekly - Last Update: 1/27 | Rate | Change | Points |
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Mortgage Bankers Assoc. | 30 Yr. Fixed | 3.72% | +0.08 | 0.43 | 15 Yr. Fixed | 3.00% | +0.05 | 0.39 | 30 Yr. Jumbo | 3.56% | +0.02 | 0.38 | Updates Weekly - Last Update: 1/26 | |
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| MBS Live Recap: Wild Month Ends Uneventfully For Bonds | Wild Month Ends Uneventfully For Bonds The first 3 and a half weeks of January were not great for the bond market and fans of low rates. That said, most of the drama was concentrated in the first week (which ended up being the biggest week of selling since November 2016 (not counting the unique drama of Ma... (read more) |
| | UMBS 30YR 3.0 | 102.05 -0.06 |
| Price / Yield | Change |
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MBS | UMBS 3.0 | 102.05 | -0.06 | UMBS 3.5 | 104.09 | -0.05 | GNMA 3.0 | 102.23 | -0.05 | GNMA 3.5 | 103.47 | -0.03 | Pricing as of: 2/1 5:21PM EST | |
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10 Year US Treasury | 1.7911 +0.0073 |
| Price / Yield | Change |
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US Treasury | 2 YR Treasury | 1.167 | -0.018 | 5 YR Treasury | 1.619 | +0.005 | 7 YR Treasury | 1.755 | +0.010 | 10 YR Treasury | 1.791 | +0.007 | 30 YR Treasury | 2.112 | -0.004 | Pricing as of: 2/1 5:21PM EST | |
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