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Existing Home Sales Modestly Higher in May
  Housing News Update

Existing Home Sales were slightly stronger than expected in May, according to the National Association of Realtors.  Here are the preliminary newswires with a full story to follow shortly:

  • U.S. MAY EXISTING HOME SALES 5.62 MLN UNIT RATE (CONSENSUS 5.55 MLN), VS APRIL 5.56 MLN (PREV 5.57 MLN)-NAR
  • U.S. MAY EXISTING HOME SALES +1.1 PCT VS APRIL -2.5 PCT (PREV -2.3 PCT)-NAR
  • U.S. MAY INVENTORY OF HOMES FOR SALE 1.96 MLN UNITS, 4.2 MONTHS' WORTH
  • MAY NATIONAL MEDIAN HOME PRICE FOR EXISTING HOMES RECORD HIGH $252,800, +5.8 PCT FROM MAY 2016
  • NAR SAYS 5 PCT OF U.S. MAY EXISTING HOME SALES WERE DISTRESSED VERSUS 5 PCT IN APRIL, 6 PCT IN MAY 2016

Average Mortgage Rates

Rate Change Points
30 Yr. Fixed 7.41% -0.09 --
15 Yr. Fixed 6.83% -0.06 --
30 Yr. FHA 6.87% -0.08 --
30 Yr. Jumbo 7.60% -0.04 --
5/1 ARM 7.37% -0.03 --
Source: Mortgage News Daily
Rate Change Points
30 Yr. Fixed 7.01% +0.10 0.59
15 Yr. Fixed 6.46% +0.11 0.60
30 Yr. FHA 6.80% +0.06 0.93
30 Yr. Jumbo 7.13% +0.07 0.56
5/1 ARM 6.41% +0.04 0.67
Source: The Mortgage Bankers Association
Rate Change Points
30 Yr. Fixed 6.88% -0.56 0.00
15 Yr. Fixed 6.16% -0.60 0.00
Source: Freddie Mac
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Market Data

MBS Price Change
UMBS 5.5 97.62 +0.53
UMBS 6.0 99.58 +0.48
UMBS 6.5 101.30 +0.38
GNMA 5.5 98.29 +0.47
GNMA 6.0 100.16 +0.56
GNMA 6.5 101.23 +0.34
US Treasuries Yield Change
2 YR 4.921 -0.014
5 YR 4.592 -0.027
10 YR 4.564 -0.026
30 YR 4.683 -0.021
Pricing as of: 4/18 2:30AM EST

Recent Housing Data

Value Change
Mortgage Apps Apr 10 195.7 0.05%
Building Permits Mar 1 1.46M -3.95%
Housing Starts Mar 1 1.32M -13.15%
New Home Sales Feb 1 662K 0.15%
Pending Home Sales Feb 1 75.6 1.75%
Existing Home Sales Feb 1 3.97M -0.75%
Builder Confidence Mar 1 51 6.25%

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