New Home Sales Back in The Range After Uncommonly Big Bounce
The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years. Sales of new single-family homes rose to a seasonally adjusted annual rate of 684,000 in August, up 6.4% from July's revised 643,000 but 2.0% below the same month last year. The
Refi Demand Logically Lower While Purchases Grind Sideways
Mortgage demand remained subdued last week as the 30-year fixed rate climbed above 7%. The Mortgage Bankers Association (MBA) reported a 1.5% decline in total mortgage application volume for the week ending September 18, following a 4.1% drop the week before. Purchase activity was the only saving gr
Proposal seeks to standardize MSR accounting for recapture values
Analysts say the change should boost transparency but is unlikely to move MSR carrying values
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