Housing Starts
Permitting Soars as Builders Prep for Spring
Posted To: MND NewsWire
Builders appear to be prepping for a huge spring . While the U.S. Census Bureau and the Department of Housing and Urban Development report that housing starts were down in January, typically the case in winter, housing permits were issued at what is probably a post housing crisis high. The seasonally adjusted rate of permitting during the month was at an annualized 1,881,000 units, a 10.4 percent jump from December’s rate of 1,704,000, itself a more than 4 percent monthly increase, up 22.5 percent from the 1,536,000 permits issued in January 2020. Analysts polled by Econoday didn’t come close with their estimates, which anticipated a slight monthly retreat. Predictions ranged from 1,600,000 to 1,715,000 with a consensus of a 1,670,000-permit rate. Single-family permits were estimated at 1,269…(read more)
MBS RECAP: No Easy Answers Today; Still Anyone’s Game
Posted To: MBS Commentary
No Easy Answers Today; Still Anyone's Game Bonds were weaker earlier in the trading session but rallied back mid-morning before coasting mostly sideways into the close. Bond bulls were frustrated by the inability to break the floor at 1.27-1.28% in 10yr yields. Bond bears were frustrated by the clear unwillingness to explore new highs compared to yesterday. In other words, it was an "inside day" with lower highs and higher lows, and part of a 2-day consolidation following the highest yields in 11+ months. Such consolidations can be preludes to big bounces OR renewed selling pressure. There weren't any major clues in today's session about which side is going to win. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 861 vs 765 f'cast, 848k prev Import…(read more)
Miami-Dade Total Home Sales Continue Surging in January 2021
Miami-Dade County total home sales posted a double-digit increase for the fifth consecutive month in January 2021 as pent-up demand and record-low mortgage rates continue fueling transactions, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system. Miami-Dade County total home sales jumped 19.1% year-over-year in January 2021, from 1,857 […]
The post Miami-Dade Total Home Sales Continue Surging in January 2021 appeared first on RealtyBizNews: Real Estate News.
Mortgage Rates Today, Feb. 13 & Rate Forecast For Next Week – The Mortgage Reports
Mortgage Rates Today, Feb. 13 & Rate Forecast For Next Week The Mortgage Reports
Time to Wake Up To The New Mortgage Rate Reality
There’s no precedent for the winning streak enjoyed by mortgage rates in the 2nd half of 2020. We’ve never seen so many new record lows in the same year, and we never spent as much time at those lows (not even close). All of the above makes it easy to get lulled into a false sense of low-rate security, but it’s time to wake up. Actually, the alarm has been going off for a while now. Previous posts pointed out the disconnect between the bond market and mortgage rates on multiple occasions in 2020. Near the end of the year, we warned against complacency in no unspecific terms . Following the Georgia senate election, we’ve been tracking a surge in bond market volatility based on the expectation that it would increasingly spill over to the mortgage rate world. ( Read More: 1/8/21: Have We Seen
Homebuilders preparing for big 2021, data suggests
Single-family permits, a leading indicator of future starts, are up nearly 30% from one year ago. But there’s still not enough supply for homebuilders.
The post Homebuilders preparing for big 2021, data suggests appeared first on HousingWire.
About: Kiplingerâs Economic Outlooks
Regularly updated insights on the economyâs next moves.
Mortgage and refinance rates today, Feb. 13, and rate forecast for next week
Today’s mortgage and refinance rates Average mortgage rates edged higher yesterday. There have been a lot of small, daily ups and downs recently. But they’ve generally canceled each other out. […]