Daily Newsletter: NAR Sees Price Gains Fading in Many Localities

While recent reports from Black Knight and CoreLogic show price increases continuing at record levels, the National Association of Realtors® (NAR) reports they are easing in some metropolitan areas. A fourth quarter report, which covers 183 major housing markets, shows that the share of those markets experiencing annual median home price gains in the double digits fell from over three-quarters (78 percent) in the third quarter of 2021 to 67 percent. Further, while all four regions of the country had gains in the double digits in Q3, only the South saw such increases in Q4. Prices in that region increased 17.9 percent while the Northeast’s appreciation was 6.8 percent and prices in the Midwest and West rose 8.6 percent and 7.7 percent, respectively. Nationally, the sales prices of single-family existing homes rose at 14.6 percent in the fourth quarter to a median of $361,700 . The increase in the prior quarter was an annualized 15.9 percent. “Homebuyers in the last quarter saw little relief as home prices continued to climb, albeit not as fast as earlier in the year,” said Lawrence Yun, NAR chief economist. “The increasing prices are indicative of a seller’s market, with an abundance of eager buyers and very limited supply.” The two metros with the largest annual increases were in Florida, Punta Gorda at 28.7 percent and Ocala at 28.2. Others, all in the 25 percent range were Austin-Round Rock, Phoenix-Mesa-Scottsdale, and Sherman-Denison, Texas.

February 10, 2022 Housing News NAR Sees Price Gains Fading in Many Localities While recent reports from Black Knight and CoreLogic show price increases continuing at record levels, the National Association of Realtors® (NAR) reports they are easing in some metropolitan areas. A fourth quarter report, which covers 183 major h... (read more) Housing News MBA Says Delinquencies Fall Below Historic Levels For the second time this week a major report on loan performance has confirmed that homeowners are recovering rapidly from the pandemic. The National Delinquency Survey from the Mortgage Bankers Association (MBA) put the nationwide rate of non-curr... (read more) Rob Chrisman FHA Jobs; Processing Efficiency Tools; TPO, Non-QM, Education Products; Consumer Inflation Pushes 10-year Past 2% Everyone has a story about something they said or asked that they shouldn’t have. “When are you due?” is a good one, as is asking, “When did you turn 60?” when the person is only 55. But forecasters are out in force, saying things about interest rat... (read more) Mortgage Rates Mortgage Rates Hit 4.0% For First Time Since May 2019 There are many different ways to track mortgage rates and several different sources quoted in the news. For decades, the most prevalently-quoted source has been Freddie Mac's weekly primary mortgage market survey. It consists of a questionnaire sent out to loan officers at the beginning of every week. They can respond as late as Wednesday, ... (read more) 30 Yr. Fixed Rate 4.02% +0.12% Rate Change Points Mortgage News Daily 30 Yr. Fixed 4.02% +0.12 0.40 15 Yr. Fixed 3.29% +0.13 0.40 30 Yr. FHA 3.63% +0.13 0.00 30 Yr. Jumbo 3.50% +0.07 0.00 5/1 ARM 3.70% +0.02 0.50 Updates Daily - Last Update: 2/10 15 Yr. Fixed Rate 3.29% +0.13% Rate Change Points Freddie Mac 30 Yr. Fixed 3.69% +0.14 0.80 15 Yr. Fixed 2.93% +0.16 0.80 5/1 Yr. ARM 2.80% +0.09 0.30 Updates Weekly - Last Update: 2/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 3.83% +0.05 0.40 15 Yr. Fixed 3.16% +0.15 0.47 30 Yr. Jumbo 3.62% +0.03 0.35 Updates Weekly - Last Update: 2/9 MBS / Treasuries MBS Live Recap: Bonds Obliterated. Why and What Next? Bonds Obliterated. Why and What Next? Today was an astonishingly bad day for the bond market relative to what the average trader expected. This isn't as noticeable when it comes to 10yr yields, which had a day that was merely in the same league as several of the worst days of the past few years. But it's... (read more) UMBS 30YR 3.0 100.34 -0.83 Price / Yield Change MBS UMBS 3.0 100.34 -0.83 UMBS 3.5 102.63 -0.88 GNMA 3.0 100.83 -0.64 GNMA 3.5 102.31 -0.77 Pricing as of: 2/10 5:21PM EST 10 Year US Treasury 2.0329 +0.0877 Price / Yield Change US Treasury 2 YR Treasury 1.583 +0.216 5 YR Treasury 1.952 +0.131 7 YR Treasury 2.036 +0.113 10 YR Treasury 2.033 +0.088 30 YR Treasury 2.319 +0.068 Pricing as of: 2/10 5:21PM EST Latest Video Mortgage rates hit 4.02% The market is pricing in a higher probability of a Fed policy mistake, says... Fed is still buying bonds — the next few months will continue to be volatil... Treasury auctions $23B in 30-year bonds Around the Web Calculated Risk Blog The Impact on Housing of Higher Mortgage Rates CNBC Tired of inflation? The Federal Reserve's actions won't provide any relief for months CNBC Inflation rises 7.5% over the past year, even more than expected and the highest since 1982 Reuters Wall St drops over 1% on hotter inflation data, Bullard's hawkish comment CNBC Here's how inflation is hitting everything you buy for your home wellsfargo.bluematrix.com Wells Housing Chartbook: How Will Rising Interest Rates Affect Housing in 2022? CNBC Homes are selling faster than ever before, and the spring market is just around the corner Redfin Vacation-Home Boom Continues Into 2022, With Demand Up Nearly 90% From Pre-Pandemic Levels Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 223,000 CNBC Treasury yields inch higher as investors brace themselves for key inflation data CNBC Fed's Mester says 'each meeting is going to be in play' for rate hikes this year CNBC University of Michigan provost named as next head of the Boston Fed Yahoo News Fed's Bullard calls for big hike in interest rates to fight inflation

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