Pending Home Sales Pull Back From Best Levels Since April 2023

The National Association of Realtors (NAR) released its Pending Home Sales Index (PHSI) for December this morning. Pending sales measures the number signed purchase contracts for existing homes. As such, the index is a good early indicator for Existing Home Sales in the coming month. Pending sales dropped 5.5% from last month, which was the highest level for the index since April 2023. Sales had also been on a 4 month winning streak. In other words, sales activity remains in solid territory, in the upper middle portion of the range over the past year. As is the case with most housing-related metrics, that range is at historically low levels. Regional breakdown of monthly and (year-over-year changes): Northeast -8.1% (-1.3%) Midwest-4.9% (-6.9%) South-2.7% (-5.1%) West-10.3% (-5.1%)

January 30, 2025 Download our Mobile App: Download our Mobile App: Housing News Pending Home Sales Pull Back From Best Levels Since April 2023 The National Association of Realtors (NAR) released its Pending Home Sales Index (PHSI) for December this morning. Pending sales measures the number signed purchase contracts for existing homes. As such, the index is a good early indicator for ... (read more) Mortgage Rate Watch Lowest Rates in Over a Month, But There's a Catch Interest rates are driven by the bond market and bonds are at their best levels in over a month. As such, it's no surprise that mortgage rates are able to make a similar claim. In fact, we'd need to go back to December 20th to see a lower avera... (read more) MBS Commentary Stronger Start + Early Weakness Bonds rallied in overnight trading. The move was exceptionally linear, without any obvious regard for movement in equities or European bonds. Yields were at session lows ahead of the 8:30am data, but have moved steadily higher afterword. The ea... (read more) Rob Chrisman POS, Servicing Tools; Fraud, Home Equity, IMB Studies; New Companies Doing New Things Any capital markets person will tell you, “What’s a surefire way to double your money in a casino? Fold it in half and put it back in your pocket.” I am in Las Vegas for First Colony’s Loan Officer Retreat, watching the tragic air news from Washingto... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.05% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.05% -0.01 0.00 15 Yr. Fixed 6.47% -0.01 0.00 30 Yr. FHA 6.45% -0.01 0.00 30 Yr. Jumbo 7.33% -0.02 0.00 7/6 SOFR ARM 6.87% -0.02 0.00 30 Yr. VA 6.46% -0.01 0.00 Updates Daily - Last Update: 1/30 15 Yr. Fixed Rate 6.47% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.95% -0.01 0.00 15 Yr. Fixed 6.12% -0.04 0.00 Updates Weekly - Last Update: 1/30 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.02% -0.07 0.62 15 Yr. Fixed 6.45% +0.02 0.64 30 Yr. Jumbo 6.98% -0.07 0.50 Updates Weekly - Last Update: 1/22 MBS / Treasuries UMBS 30YR 5.5 98.90 -0.03 Price / Yield Change MBS UMBS 5.5 98.90 -0.03 UMBS 6.0 100.77 -0.01 GNMA 5.5 99.42 +0.06 GNMA 6.0 100.89 -0.03 Pricing as of: 1/30 5:31PM EST 10 Year US Treasury 4.5259 -0.0141 Price / Yield Change US Treasury 2 YR Treasury 4.212 -0.001 5 YR Treasury 4.329 -0.005 7 YR Treasury 4.429 -0.003 10 YR Treasury 4.526 -0.014 30 YR Treasury 4.771 +0.001 Pricing as of: 1/30 5:31PM EST Latest Video Fed Chair Powell: Don't need to see further weakness in labor market to ach... Former Cleveland Fed Pres. Loretta Mester: There's no urgency for the Fed t... Fed leaves rates unchanged Fed may be dovish but not expecting much from today's meeting, says BNY's V... Around the Web CNBC GDP grew at a 2.3% pace in the fourth quarter, less than expected CNBC Fed holds rates steady, takes less confident view on inflation CNBC Mortgage demand drops further, even as interest rates settle Calculated Risk Blog NAR: Pending Home Sales Decrease 5.5% in December; Down 5.0% Year-over-year Eye on Housing U.S. Economy Ends 2024 With Solid Growth Marketwatch Treasury yields dip as traders parse Fed comments, await GDP update Calculated Risk Blog Inflation Adjusted House Prices 1.1% Below 2022 Peak; Price-to-rent index is 7.8% below 2022 peak Calculated Risk Blog Final Look at Local Housing Markets in December and a Look Ahead to January Sales Eye on Housing Housings Share of the Economy Remains Level with Positive Signs from Residential Investment Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 207,000 CNBC Fed meeting live updates: Fed expected to hold rates steady after three consecutive cuts CNBC European Central Bank to cut rates again with Trump threat and U.S. divergence in focus CNBC European Central Bank set to trim interest rates for fifth time since June

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