Opinions Uncensored

MBA: "Mortgage Applications Decrease in Latest Weekly Survey"

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 11.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 22, 2016.... The Refinance...

Wednesday: FOMC Announcement, Pending Home Sales, Durable Goods

Here was my FOMC preview: FOMC Preview: No Rate Hike, Possibly Preparing for September Rate HikeFrom Merrill Lynch on the FOMC: The July meeting of the Federal Open Market Committee (FOMC) is unlikely to result in any policy changes by the Fed, in our view. In fact, we do not expect the Fed to...

Real Prices and Price-to-Rent Ratio in May

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.0% year-over-year in MayThe year-over-year increase in prices is mostly moving sideways now around 5%. In May, the index was up 5.0% YoY.In the earlier post, I graphed nominal house prices, but it is...

A few Comments on June New Home Sales

The new home sales report for June was strong at 592,000 on a seasonally adjusted annual rate basis (SAAR) - the highest since early 2008 - and combined sales for March, April and May were revised up by 22 thousand SAAR.Sales were up 25.4% year-over-year (YoY) compared to June 2015. ...

Black Knight's First Look at June Mortgage Data

From Black Knight: Black Knight Financial Services’ First Look at June Mortgage Data: Foreclosure Starts Up for Second Consecutive Month; Prepays Rise on Historically Low Rates• Despite June’s increase, first-time foreclosure starts in Q2 2016 were at their lowest level in over 16 years•...

Tuesday: New Home Sales, Case-Shiller House Prices

Tuesday:• At 9:00 AM ET, S&P/Case-Shiller House Price Index for May. Although this is the May report, it is really a 3 month average of March, April and May prices. The consensus is for a 5.6% year-over-year increase in the Comp 20 index for May. The Zillow forecast is for the National...