tag:blogger.com,1999:blog-17743005617633415642024-02-07T04:22:32.252-08:00Mortgage and Real Estate NewsYour worldwide news source for mortgage, real estate, finance, and investment information.Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comBlogger2767125tag:blogger.com,1999:blog-1774300561763341564.post-66324346816065494352024-01-16T19:27:00.001-08:002024-01-16T19:28:29.255-08:00Housing Market: More Inventory Coming As Rate Lock Eases<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEi9h9H0SgmdSmw3YVr4QmyBT_LXs3Ip8HJyU0fDsKW7Jcap8eAchO6XH2mA1dFHA_RDFkW-iASEST_8G95DDf9nLtUcbq6b4a373hZ7g7QWPYeVHHan7WnfwWZZsXL81asBWe1bjeMG3HMwu_jZvdQFI-1hL7S7dfQURQbfFyZC1M8gYz32vYs6YKwSeNzq"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEi9h9H0SgmdSmw3YVr4QmyBT_LXs3Ip8HJyU0fDsKW7Jcap8eAchO6XH2mA1dFHA_RDFkW-iASEST_8G95DDf9nLtUcbq6b4a373hZ7g7QWPYeVHHan7WnfwWZZsXL81asBWe1bjeMG3HMwu_jZvdQFI-1hL7S7dfQURQbfFyZC1M8gYz32vYs6YKwSeNzq=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7324903772682394770" /></a></p><div dir="auto"><div dir="auto">The housing market is starting to break free from the chokehold of high mortgage rates, and a wave of potential sellers could bring on more inventory to supply-starved buyers in the coming years, according to Zillow.<br></div><div dir="auto"><br></div>Read more... <div dir="auto"><a href="https://www.businessinsider.com/housing-market-mortgage-rates-outlook-zillow-supply-shortage-inventory-prices-2024-1">https://www.businessinsider.com/housing-market-mortgage-rates-outlook-zillow-supply-shortage-inventory-prices-2024-1</a><br><br><div data-smartmail="gmail_signature" dir="auto"><br></div></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-43711885123205550642022-12-19T10:54:00.001-08:002022-12-19T10:54:27.833-08:00FHA Announces Pandemic Aid For Seniors With HECMs<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEj-gz2xqvtqIs3zIlmCMeSoyb0Aal1HHZWbwFawvxPB87sk9b3Y3OzB44U_cu1Qf6rPz6DskTz0a8iYf1KXb4lyYCvtRy_JN5966gHxvprhXUjSp0DCMzLWy1T-rMmCfTAGvPK7ucABZiwaYFIGxeriAY2svkxjc0ttG8OhjJV5Ic-2UQidDoq0jZ89RA"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEj-gz2xqvtqIs3zIlmCMeSoyb0Aal1HHZWbwFawvxPB87sk9b3Y3OzB44U_cu1Qf6rPz6DskTz0a8iYf1KXb4lyYCvtRy_JN5966gHxvprhXUjSp0DCMzLWy1T-rMmCfTAGvPK7ucABZiwaYFIGxeriAY2svkxjc0ttG8OhjJV5Ic-2UQidDoq0jZ89RA=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7178935056104245010" /></a></p><div dir="auto"><div dir="auto">The Federal Housing Administration (FHA) recently announced new "flexibilities" to help senior homeowners with FHA-insured Home Equity Conversion Mortgages (HECMs) who are behind on required property charge payments due to effects of the COVID-19 pandemic. <br></div><div dir="auto"><br></div><div dir="auto">Read more... </div><a href="https://nationalmortgageprofessional.com/news/fha-announces-pandemic-aid-seniors-hecms">https://nationalmortgageprofessional.com/news/fha-announces-pandemic-aid-seniors-hecms</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-63725830851467387512022-12-16T09:55:00.001-08:002022-12-16T09:55:23.769-08:00FHA Now Allows 'Double-Dipping' On Loans<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgRrxlqY9JXNlK-jsSp7SfhvJmJGxKfaHslm_J-WYSIUQy39FKGou_uMRyly5yQzg43HWS64S-HUShHSuoucH3RRTskBzA0mSDiJG1yWdXsmlvm0JTUZUxI3k46yvl28bSAIgNlu7MYrR-oU0PaThU9uTZFR4Iip8EHjZSY6I2EdOCksMOsjGC46SQwAA"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEgRrxlqY9JXNlK-jsSp7SfhvJmJGxKfaHslm_J-WYSIUQy39FKGou_uMRyly5yQzg43HWS64S-HUShHSuoucH3RRTskBzA0mSDiJG1yWdXsmlvm0JTUZUxI3k46yvl28bSAIgNlu7MYrR-oU0PaThU9uTZFR4Iip8EHjZSY6I2EdOCksMOsjGC46SQwAA=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7177806579224586562" /></a></p><div dir="auto"><div dir="auto">The Federal Housing Administration on Thursday announced a rule change that will allow individuals to serve as both the real estate agent and mortgage loan originator for FHA-insured home sales.<br></div><div dir="auto"><br></div><div dir="auto">Read more... </div><div dir="auto"><a href="https://nationalmortgageprofessional.com/news/fha-now-allows-double-dipping-loans">https://nationalmortgageprofessional.com/news/fha-now-allows-double-dipping-loans</a><br></div><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-10102273679160179112022-12-08T10:48:00.001-08:002022-12-08T10:48:36.705-08:00Genius Ways To Earn Real Estate Passive Income<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjgpmHVdSPJm4CqWMhkKR4yEaoHizpG-dezoITC78p4P0DnMmTdo4mlqoq13M2-a6AunFGmeLNOlhOtazDEoQ9iVBL2GUdrTCL_l8gMzqHZjmL63_BQ_7e8J0UsjS1exj0YQWUzRoJJLUK8QzgfqVYxLdZ_iYUi2MT4gW1ZJ9SVYpG3krwR3yZy7YDf-A"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEjgpmHVdSPJm4CqWMhkKR4yEaoHizpG-dezoITC78p4P0DnMmTdo4mlqoq13M2-a6AunFGmeLNOlhOtazDEoQ9iVBL2GUdrTCL_l8gMzqHZjmL63_BQ_7e8J0UsjS1exj0YQWUzRoJJLUK8QzgfqVYxLdZ_iYUi2MT4gW1ZJ9SVYpG3krwR3yZy7YDf-A=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7174851609172634002" /></a></p><div dir="auto"><div dir="auto">One of the most common investment strategies is passive investing. Done correctly, once the initial due diligence is done, an investor will not have to devote large amounts of valuable time to tend to their portfolio positions. Others do the day-to-day work while the passive investor collects the proceeds as their reward for providing capital.<br></div><div dir="auto"><br></div><div dir="auto"><br></div><div dir="auto">Read more... </div><a href="https://seekingalpha.com/article/4562595-genius-ways-to-earn-real-estate-passive-income">https://seekingalpha.com/article/4562595-genius-ways-to-earn-real-estate-passive-income</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-53193627920797394912022-07-08T08:47:00.000-07:002022-07-08T08:48:00.913-07:00Scottsdale’s affordable housing situation is worst in metro Phoenix, new study shows<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhp8djqQSyPGsE8rqH7t3WcvZSdbqAr1tm2WF8Fb1AO6aTXcXgBCby-lrQR3ktNfWY95OJs5H4LQxh5uf30KBxA4VUWSy34_jHq-AMCpxIzAPJFG4ZqQQTP8xuSZ6Yw58pLuEn0K0LY_C2oOeor0Q0qKQxe6dneTJSYYBgcGJrYev7_RqErks7wjEOIGg"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEhp8djqQSyPGsE8rqH7t3WcvZSdbqAr1tm2WF8Fb1AO6aTXcXgBCby-lrQR3ktNfWY95OJs5H4LQxh5uf30KBxA4VUWSy34_jHq-AMCpxIzAPJFG4ZqQQTP8xuSZ6Yw58pLuEn0K0LY_C2oOeor0Q0qKQxe6dneTJSYYBgcGJrYev7_RqErks7wjEOIGg=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7118029036963646642" /></a></p><div dir="ltr">Scottsdale's housing shortage may be far worse than city figures suggest, with thousands fewer units coming down the chute than was estimated and the city's workforce being priced out of the market faster than anywhere else in the Valley, according to a recently released analysis. <br><br>The study from Elliott D. Pollack and Company — a local real estate and economic consulting firm — was presented at the Scottsdale City Council meeting on Wednesday. It was commissioned by a pro-development group called Home Arizona, and used estimated median salaries in the metro area to gauge affordability.<div><br></div><div>Read more: </div><div><a href="https://www.azcentral.com/story/news/local/scottsdale/2022/07/07/scottsdale-housing-worst-in-valley/7770797001/">https://www.azcentral.com/story/news/local/scottsdale/2022/07/07/scottsdale-housing-worst-in-valley/7770797001/</a><br clear="all"><div></div></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-54662496594300919382022-07-05T11:30:00.001-07:002022-07-05T11:30:35.197-07:00The Phoenix real estate market: Stats and trends for 2022<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjN3ZVSKlPRzwY5kRlS9Qo0rL6gg8RHip4k3QI7Y-BHqjdqCxCsIsjuNVHO_TQC61cILaArr83ccLshfLWmeI90dliEsygdqC9kpMOz72i0XcsIxJKd_AC5vxhkmIItLWLsBt2NMz9ReBZWAe9wpIpF327BpKLaGJb-T6Pm_WMX9Sq9bCHfHEAK90cZQg"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEjN3ZVSKlPRzwY5kRlS9Qo0rL6gg8RHip4k3QI7Y-BHqjdqCxCsIsjuNVHO_TQC61cILaArr83ccLshfLWmeI90dliEsygdqC9kpMOz72i0XcsIxJKd_AC5vxhkmIItLWLsBt2NMz9ReBZWAe9wpIpF327BpKLaGJb-T6Pm_WMX9Sq9bCHfHEAK90cZQg=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7116957676570292546" /></a></p><div dir="auto"><div dir="auto"><br></div><div dir="auto">Real estate investors are purchasing more homes in Phoenix than in any of the other top 30 markets in the U.S., due to the metro area's double-digit rent growth and high price-to-rent ratio.1<br></div><div dir="auto"><br></div>Read more... <a href="https://learn.roofstock.com/blog/phoenix-real-estate-market">https://learn.roofstock.com/blog/phoenix-real-estate-market</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-23148388154509940492022-04-13T12:56:00.000-07:002022-04-13T12:57:04.019-07:00When Will the GSEs Exit Conservatorship?<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEi-VEvj88z-2Z0ralH_Ucs-F-HbyA3ahpa7hptwnShJNLy3_i3G3iUcw7ebmglEUPRxP6fJcDCgIidsBtn_-ib8ZrxvrCoHeH9nnr5SD5mtyBOASGiMi6uQ9CYQV7llzkPwexFLzoRuhnB72lmyuR7XwWpBGDdfFHjnVVP1cIhpqxGwOGCrVgdKmNxp7A"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEi-VEvj88z-2Z0ralH_Ucs-F-HbyA3ahpa7hptwnShJNLy3_i3G3iUcw7ebmglEUPRxP6fJcDCgIidsBtn_-ib8ZrxvrCoHeH9nnr5SD5mtyBOASGiMi6uQ9CYQV7llzkPwexFLzoRuhnB72lmyuR7XwWpBGDdfFHjnVVP1cIhpqxGwOGCrVgdKmNxp7A=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7086179892911653314" /></a></p><div dir="auto"><div dir="auto">It has been 14 years since Freddie Mac and Fannie Mae were put under full operational control of the Federal Housing Finance Agency (FHFA) at the height of the financial crisis in September 2008. At the time, then-Treasury Secretary Henry Paulson called the move a "timeout" reflecting the temporary nature of the move. <br></div><div dir="auto"><br></div><div dir="auto"><br></div>Read more... <div dir="auto"><a href="https://themreport.com/daily-dose/02-15-2022/when-will-the">https://themreport.com/daily-dose/02-15-2022/when-will-the</a><br><br><div data-smartmail="gmail_signature" dir="auto"><br></div></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-62776001133892796322022-04-08T21:21:00.001-07:002022-04-08T21:21:38.546-07:00Would you consider a 40-year mortgage? One Fed official thinks it’s a good idea. But others say it's a risky proposition. - MarketWatch<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgcS9pQSYSMQzM8Ff_pMCrj1znGAh6F6PVH_mLRMoBs7PnbXU2xk9GQ6FZINEetPW8YgNFHxKNnjQ8v7vhZyp7VIKnYGrhUzBJc6gG4jeURHFn3mgZGCE7t0mUihygecm7stK2HTXu8GKDJNkQMmAmW1SQ2FtYQxoRcjGuV9yYz-oGB8MBuZ1JwhUKfOQ"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEgcS9pQSYSMQzM8Ff_pMCrj1znGAh6F6PVH_mLRMoBs7PnbXU2xk9GQ6FZINEetPW8YgNFHxKNnjQ8v7vhZyp7VIKnYGrhUzBJc6gG4jeURHFn3mgZGCE7t0mUihygecm7stK2HTXu8GKDJNkQMmAmW1SQ2FtYQxoRcjGuV9yYz-oGB8MBuZ1JwhUKfOQ=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7084454493608020754" /></a></p><div dir="auto"><div dir="auto">Should the federal government start backing mortgages even longer than 30 years? Philadelphia Federal Reserve Bank president Patrick Harker thinks it could be a solution to an emerging problem in the housing-finance ecosystem.<br></div><div dir="auto"><br></div><div dir="auto"><br></div>Read more... <div dir="auto"><a href="https://www.marketwatch.com/story/a-40-year-mortgage-this-fed-official-thinks-its-a-good-idea-11648675641">https://www.marketwatch.com/story/a-40-year-mortgage-this-fed-official-thinks-its-a-good-idea-11648675641</a><br><br><div data-smartmail="gmail_signature" dir="auto"><br></div></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-66214117987560970572022-04-08T14:00:00.001-07:002022-04-08T14:00:19.182-07:00Acre lot in Arcadia sells for record-breaking $4.75M<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh6Le-mqC4doqwhN5jIHFEVNMrs7T2Ogje6FGI6FNsRxNEppCVQg7Q6nTVODVn4lVCM0t3YehTMRM6v0si5ph6mwC-dJ5israSfOlp_k5SmXJtTm0S4ZRde-CLCISohkBi9PZ6BxL4Hp9zvdXMU-UjnktQdLZwSC5ZV_W1j5SH-iS8fr5FXF43DtS_i1w"><img src="https://blogger.googleusercontent.com/img/a/AVvXsEh6Le-mqC4doqwhN5jIHFEVNMrs7T2Ogje6FGI6FNsRxNEppCVQg7Q6nTVODVn4lVCM0t3YehTMRM6v0si5ph6mwC-dJ5israSfOlp_k5SmXJtTm0S4ZRde-CLCISohkBi9PZ6BxL4Hp9zvdXMU-UjnktQdLZwSC5ZV_W1j5SH-iS8fr5FXF43DtS_i1w=s320" border="0" alt="" id="BLOGGER_PHOTO_ID_7084340764561111122" /></a></p><div dir="auto"><div dir="auto">A 1.05-acre parcel of vacant land in the Arcadia area of Phoenix originally owned by the Frank Lloyd Wright family sold on Thursday for a record-breaking $4.75 million.<br></div><div dir="auto"><br></div>Read more... <a href="https://www.abc15.com/news/business/acre-lot-in-phoenixs-arcadia-neighborhood-sells-for-record-breaking-4-75m">https://www.abc15.com/news/business/acre-lot-in-phoenixs-arcadia-neighborhood-sells-for-record-breaking-4-75m</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-34450415888606933962021-09-27T11:32:00.001-07:002021-09-27T11:32:21.786-07:00Fed Meeting Breakdown, Taper Cometh<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirOOMQKXxWKIVxa_gTT-1_uGKMuhQmPDQEr4O7XEqrvDNoF83yXRC__VFzyXhnNuEi3aSJhOdNQzNwcTZ1EX8Qy7fLWHLrZ3xc2MXadDz7X40ZEQA69Dctm1BR0Yzhmqk8u6l8X3qskq3a/s1600/top-image-092421-741821.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirOOMQKXxWKIVxa_gTT-1_uGKMuhQmPDQEr4O7XEqrvDNoF83yXRC__VFzyXhnNuEi3aSJhOdNQzNwcTZ1EX8Qy7fLWHLrZ3xc2MXadDz7X40ZEQA69Dctm1BR0Yzhmqk8u6l8X3qskq3a/s320/top-image-092421-741821.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_7012683200005946530" /></a></p><div dir="auto"><div dir="auto">Home loan rates ticked up and had a bit of a "taper tantrum" after the Fed meeting on Wednesday when Fed Chair Powell outlined the case to scale back or "taper" bond purchases. Let's break down what was said and what to look for in the weeks ahead.</div><div dir="auto"><br></div><div dir="auto">"All my bags are packed, I'm ready to go" - Leaving on a Jet Plane by John Denver</div><div dir="auto"><br></div><div dir="auto">"Asset purchases still have a use, but it is time to taper them." – Fed Chair Jerome Powell...Sept 22, 2021</div><div dir="auto"><br></div><div dir="auto">The Fed has been purchasing $120B worth of Treasuries and Mortgage-Backed Securities since March 2020 to stabilize the financial markets and help pin down long-term rates. This effort has helped fuel the frenzy in both purchase and mortgage refinance activity.</div><div dir="auto"><br></div><div dir="auto">On Wednesday, during a press conference, Fed Chair Powell made it clear that the days of bond-buying are coming to an end and the scaling back of purchases may start before the end of the year. Here are some important quotes from the press conference:</div><div dir="auto"><br></div><div dir="auto">"There is very broad support on committee for timing and pace of taper"</div><div dir="auto"><br></div><div dir="auto">This is important as Fed Members are in alignment on the issue to taper, which means there is a good chance it is going to happen soon.</div><div dir="auto"><br></div><div dir="auto">"There are some who would have preferred to go sooner due to financial stability concerns."</div><div dir="auto"><br></div><div dir="auto">This line highlights the fear that some Fed Members have of inflation/price instability that comes with too much money in the financial system.</div><div dir="auto"><br></div><div dir="auto">"Wouldn't put too much on inflation remaining above goal in Fed's current outlook."</div><div dir="auto"><br></div><div dir="auto">However, Fed Chair Powell and most of the Fed believe the current high levels of inflation will be transitory or short-term in nature. The Fed forecasted Core inflation dropping down to 2.3% next year, which would be right in the Fed's sweet spot. If inflation moderates to those levels, interest rates may not be pressured higher, which allows the Fed to scale back bond purchases.</div><div dir="auto"><br></div><div dir="auto">"Completing taper sometime around the middle of next year will be appropriate."</div><div dir="auto"><br></div><div dir="auto">And for the first time, we have a timeline. The Fed is looking to scale back $120B a month in purchases to zero by mid-2022.</div><div dir="auto"><br></div><div dir="auto">What's next? Mark your calendar as the next Fed meeting is Wednesday, November 3rd...that is the day markets feel the Fed will announce the taper start if they want to complete the tapering by mid-2022.</div><div dir="auto"><br></div><div dir="auto">For the Fed to make a taper announcement in November, we likely need to see more progress on the labor market, which means the September Jobs Report, being reported Friday, Oct 8th is a big deal. If that report is solid, expect the Fed to make the announcement. If the report stinks, as some have of late, the Fed may not announce the taper.</div><div dir="auto"><br></div><div dir="auto">Other unknowns which might delay a taper announcement include the debt ceiling negotiation, infrastructure debate, and signs of Chinese property bubbles losing air.</div><div dir="auto"><br></div><div dir="auto">Bottom line: Now we know the Fed wants to taper and it may come as soon as November. This means it is very difficult for rates to improve much if at all from here. So, if you or someone you know is considering a new mortgage, now is an incredible time.</div><div dir="auto"><br></div><div dir="auto">Looking Ahead</div><div dir="auto"><br></div><div dir="auto">We know the next Jobs Report on Oct 8th carries huge significance. But next week there is plenty of news that could gyrate the markets as we look for more signs that it is time to taper bond purchases which include Retail Sales, Consumer Confidence, and Core PCE. And if that were not enough, we have Fed Chair Powell and Treasury Secretary testifying in front of Congress on the state of the economy. Lastly, the Treasury is selling billions in 2, 5, and 7-Year Treasuries. It will be interesting to see investor's buying appetite now we know the Fed is interested in not being a buyer very soon.</div><br></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-66160883041690345292021-09-26T11:14:00.000-07:002021-09-26T11:15:14.121-07:00Treasuries at Risk as Fed Paves the Way for a Breakout in Yields<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3RwmOuh6RdXih-xr9nKrLPftfCjSxCdJpMgS-AfRyN5tHb2y_3x2xTzYcHpoFhRxDkoJg-S51i1En7cG_Y_1cWOb9kYsneND2GBwu3ZGYxGnEp_XjFiYJdrSL3Z_dBKiz4idoY5FK0cum/s1600/Screenshot_20210926-111321_Chrome-714255.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3RwmOuh6RdXih-xr9nKrLPftfCjSxCdJpMgS-AfRyN5tHb2y_3x2xTzYcHpoFhRxDkoJg-S51i1En7cG_Y_1cWOb9kYsneND2GBwu3ZGYxGnEp_XjFiYJdrSL3Z_dBKiz4idoY5FK0cum/s320/Screenshot_20210926-111321_Chrome-714255.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_7012307706104660466" /></a></p><div dir="auto"><div dir="auto"><div dir="auto">Traffic on the road to higher Treasury yields appears finally to be clearing up as central banks edge closer to ending emergency pandemic policies.</div><div dir="auto"><br></div><div dir="auto">After getting stuck for months, 10-year Treasury yields broke through the top of a range that's held since mid-July, surpassing 1.40% and ending the week at 1.45%. That's up from the 2021 low of 1.13% set in August.</div></div><div dir="auto"><br></div>Read more... <a href="https://www.bloomberg.com/news/articles/2021-09-25/treasuries-at-risk-as-fed-paves-the-way-for-a-breakout-in-yields">https://www.bloomberg.com/news/articles/2021-09-25/treasuries-at-risk-as-fed-paves-the-way-for-a-breakout-in-yields</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-15613441133226439842021-07-21T14:26:00.000-07:002021-07-21T14:27:02.905-07:00Volatility Settles Down but Monday's Selling Still Sets the Pace<div dir="auto"><table width="100%" border="0" style="border-spacing:0px;border-collapse:collapse;background-color:rgb(255,255,255);color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px"><tbody><tr><td width="100%" style="padding:0px"><img src="https://www.losocialbot.com/images/marketing/marketsfb2020.jpg" alt="" width="600" style="border:0px;vertical-align:middle;display:block;max-width:100%;height:auto !important;width:733.095px"></td></tr></tbody></table><h1 style="margin:0px 0px 10px;font-size:36px;font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);background-color:rgb(255,255,255)"><br></h1><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)">Published Date 7/21/2021</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>Stock indexes early this morning were mixed,</strong> the DJIA +141 at 8:30 am ET while NASADAQ -17. The 10 yr. note began up 2 bps to 1.23%, MBS prices -2 bps from yesterday. Starting the day with less volatility, no key data today; Treasury will auction $24B of 20 yr. bonds at 1:00 pm ET.</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>Traders turning to earnings season</strong> as would be normal but recent volatile movement put earnings on the back shelf for the last few sessions. Johnson & Johnson, Coca-Cola Co., Verizon Communications Inc., Kinder Morgan Inc., Baker Hughes Co. and Harley-Davidson Inc. among the many, many companies reporting.</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>Today is the day Congress was supposed to vote on the infrastructure bill,</strong> a $1T package that will fail as bipartisan negotiations drag on. Majority Leader Chuck Schumer has set a vote for today to begin consideration of infrastructure legislation, a step that Republicans have said they would oppose absent more details on its contents and how it would be paid for. Schumer is also pushing for all 50 members of the Democratic caucus to agree to a $3.5T outline for a broad antipoverty and climate package they are pursuing in parallel to the bipartisan infrastructure talks. Democrats on the Budget Committee and Mr. Schumer had announced a deal on the budget framework last week. The $3.5T bill tied to the infrastructure bill isn't likely to get enough votes.</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>Mortgage applications last week declined;</strong> the composite index -4.0%, purchase apps -6.4% while re-finances were down 2.8%. It's a week old news, with this week's drop in mortgage rates we look for a dramatic increase in re-finances and purchases a week from now. Not news that purchases are slow with increasing home prices and a lack of inventories countrywide. Purchase applications the lowest since May 2020. The average contract interest rate for traditional 30-year mortgages increased to 3.11% from 3.09% the prior week; already this week 30 yr. mortgages at about 2.85%.</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>The Treasury debt limit is presently $28.5B,</strong> it can't exceed that level. It isn't the first time and won't be the last that that government spending will exceed the statutory limit. I has to be increased or the government will shut down, and that is not likely. Worst case, a day or two shutdown before the debt limit is increased; there have been three instances of a short shutdown over the last 10 years. On July 31, the Treasury Department technically bumps up against its statutory debt limit. Today the Congressional Budget Office is scheduled to release its latest estimate of when the government actually would be unable to pay its bills -- known as the "X Date."</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>At 9:30 am ET</strong> the DJIA opened +175, NASDAQ +11, S&P +9. 10 yr. note at 9:30 am ET 1.27% +6 bps. FNMA 2.0 30 yr. coupon at 9:30 am ET -16 bps from yesterday's close and -44 bps lower than at 9:30 am ET yesterday; the 2.5 coupon at 9:30 am ET -24 bps from 9:30 am ET yesterday.</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>The interest rate markets now still correcting from the excessive selling on Monday.</strong> The 10 yr. note technical support now at its prior resistance at 1.30%, likely to be tested. If 1.30% holds look for a new trading range for the 10 between 1.30% and 1.20%.</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><small style="font-size:12.75px">Source: TBWS</small></p><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-13508091336666807322021-07-20T09:07:00.001-07:002021-07-20T09:07:19.235-07:003 Charts That Show This Isn’t a Housing Bubble<div dir="auto"><h3 style="margin:0px 0px 0.2em;font-size:1.4em;line-height:1.3;font-family:sans-serif;letter-spacing:-0.035em;color:rgb(102,102,102);background-color:rgb(255,255,255);outline:none!important"><br></h3><img width="750" height="410" src="https://files.mykcm.com/2021/07/19150730/20210720-KCM-Share.jpg" alt="3 Charts That Show This Isn't a Housing Bubble | MyKCM" style="max-width: 100%; height: auto; vertical-align: middle; border: 0px; color: rgb(102, 102, 102); font-family: "open sans", sans-serif; font-size: 14px; background-color: rgb(255, 255, 255); outline: none !important;"><br style="color:rgb(102,102,102);font-family:"open sans",sans-serif;font-size:14px;background-color:rgb(255,255,255);outline:none!important"><br style="color:rgb(102,102,102);font-family:"open sans",sans-serif;font-size:14px;background-color:rgb(255,255,255);outline:none!important"><div style="color:rgb(102,102,102);font-family:"open sans",sans-serif;font-size:14px;background-color:rgb(255,255,255);outline:none!important" dir="auto"><p style="outline:none!important;margin:0px 0px 1.5em">With home prices continuing to deliver double-digit increases, some are concerned we're in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.</p><h4 style="margin:1.75em 0px 0.5em;line-height:1.4;font-size:1.2em;font-weight:300;letter-spacing:-0.035em;color:rgb(0,174,255);outline:none!important"><strong style="color:rgb(102,102,102);font-size:1em;outline:none!important">1. The housing market isn't driven by risky mortgage loans.</strong></h4><p style="outline:none!important;margin:0px 0px 1.5em">Back in 2006, nearly everyone could qualify for a loan. The <a href="https://www.mba.org/news-research-and-resources/research-and-economics/single-family-research/mortgage-credit-availability-index" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">Mortgage Credit Availability Index</a> (MCAI) from the <em style="outline:none!important">Mortgage Bankers' Association</em> is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let's look at the <a href="https://www.newyorkfed.org/microeconomics/hhdc/background.html" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">volume of mortgages</a> that originated when a buyer had less than a 620 credit score.<a href="https://files.simplifyingthemarket.com/2021/07/19150732/20210720-MEM-Eng-1.png?a=231537-0536a4f32da0f7f078a5fe3eb1d80452" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important"><img src="https://files.mykcm.com/2021/07/19150732/20210720-MEM-Eng-1.png" alt="3 Charts That Show This Isn't a Housing Bubble | MyKCM" width="600" height="450" style="outline:none !important;max-width:700px;height:auto;vertical-align:middle;border:0px;display:block;margin:0px auto 1.5em;width:412.19px"></a>Dr. Frank Nothaft, Chief Economist for <em style="outline:none!important">CoreLogic</em>, reiterates this <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights/" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">point</a>:</p><blockquote style="margin:1.5em 0px;padding:1em;border-top:none;border-right:none;border-bottom:none;font-size:1em;line-height:1.3;outline:none!important;border-left:1px solid rgb(229,229,229)!important"><p style="outline:none!important;margin:0px 0px 1.5em"><em style="outline:none!important">"There are marked differences in today's run up in prices compared to 2005, which was a bubble fueled by risky loans and lenient underwriting. Today, loans with high-risk features are absent and mortgage underwriting is prudent."</em></p></blockquote><h4 style="margin:1.75em 0px 0.5em;line-height:1.4;font-size:1.2em;font-weight:300;letter-spacing:-0.035em;color:rgb(0,174,255);outline:none!important"><strong style="color:rgb(102,102,102);font-size:1em;outline:none!important">2. Homeowners aren't using their homes as ATMs this time.</strong></h4><p style="outline:none!important;margin:0px 0px 1.5em">During the housing bubble, as prices skyrocketed, people were refinancing their homes and pulling out large sums of cash. As prices began to fall, that caused many to spiral into a <strong style="font-size:1em;outline:none!important">negative equity</strong> situation (where their mortgage was higher than the value of the house).</p><p style="outline:none!important;margin:0px 0px 1.5em">Today, homeowners are letting their equity build. <strong style="font-size:1em;outline:none!important">Tappable equity</strong> is the amount available for homeowners to access before hitting a maximum 80% combined loan-to-value ratio (thus still leaving them with at least 20% equity). In 2006, that number was $4.6 billion. Today, that number stands at over <a href="https://www.blackknightinc.com/wp-content/uploads/2021/07/BKI_MM_May2021_Report.pdf" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">$8 billion</a>.</p><p style="outline:none!important;margin:0px 0px 1.5em">Yet, the percentage of <strong style="font-size:1em;outline:none!important">cash-out refinances</strong> (where the homeowner takes out at least 5% more than their original mortgage amount) is <a href="http://www.freddiemac.com/research/datasets/refinance-stats/index.page" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">half of what it was in 2006</a>.<a href="https://files.simplifyingthemarket.com/2021/07/19150734/20210720-MEM-Eng-2.png?a=231537-0536a4f32da0f7f078a5fe3eb1d80452" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important"><img src="https://files.mykcm.com/2021/07/19150734/20210720-MEM-Eng-2.png" alt="3 Charts That Show This Isn't a Housing Bubble | MyKCM" width="600" height="450" style="outline:none !important;max-width:700px;height:auto;vertical-align:middle;border:0px;display:block;margin:0px auto 1.5em;width:412.19px"></a></p><h4 style="margin:1.75em 0px 0.5em;line-height:1.4;font-size:1.2em;font-weight:300;letter-spacing:-0.035em;color:rgb(0,174,255);outline:none!important"><strong style="color:rgb(102,102,102);font-size:1em;outline:none!important">3. This time, it's simply a matter of supply and demand.</strong></h4><p style="outline:none!important;margin:0px 0px 1.5em">FOMO (the Fear Of Missing Out) dominated the housing market leading up to the 2006 housing bubble and drove up buyer demand. Back then, housing supply more than kept up as many homeowners put their houses on the market, as evidenced by the over seven months' supply of existing housing inventory available for sale in 2006. Today, that number is barely two months.</p><p style="outline:none!important;margin:0px 0px 1.5em">Builders also overbuilt during the bubble but pulled back significantly over the next decade. Sam Khater, VP and Chief Economist, Economic & Housing Research at <em style="outline:none!important">Freddie Mac</em>, <a href="http://www.freddiemac.com/perspectives/sam_khater/20210415_single_family_shortage.page" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">explains</a> that pullback is the major factor in the lack of available inventory today:</p><blockquote style="margin:1.5em 0px;padding:1em;border-top:none;border-right:none;border-bottom:none;font-size:1em;line-height:1.3;outline:none!important;border-left:1px solid rgb(229,229,229)!important"><p style="outline:none!important;margin:0px 0px 1.5em"><em style="outline:none!important">"The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes."</em></p></blockquote><p style="outline:none!important;margin:0px 0px 1.5em">Here's a chart that quantifies Khater's remarks:<a href="https://files.simplifyingthemarket.com/2021/07/19150737/20210720-MEM-Eng-3.png?a=231537-0536a4f32da0f7f078a5fe3eb1d80452" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important"><img src="https://files.mykcm.com/2021/07/19150737/20210720-MEM-Eng-3.png" alt="3 Charts That Show This Isn't a Housing Bubble | MyKCM" width="600" height="450" style="outline:none !important;max-width:700px;height:auto;vertical-align:middle;border:0px;display:block;margin:0px auto 1.5em;width:412.19px"></a>Today, there are simply not enough homes to keep up with current demand.</p><h3 style="margin:1.25em 0px 0.2em;font-size:1.2em;line-height:1.3;font-weight:300;letter-spacing:-0.035em;color:rgb(0,174,255);outline:none!important"><strong style="color:rgb(102,102,102);font-size:1em;outline:none!important">Bottom Line</strong></h3><p style="outline:none!important;margin:0px 0px 1.5em">This market is nothing like the run-up to 2006. Bill McBride, the author of the prestigious <em style="outline:none!important">Calculated Risk</em> blog, predicted the last housing bubble and crash. This is what he has to say about <a href="https://www.theatlantic.com/ideas/archive/2021/05/us-housing-market-records/619029/" style="text-decoration-line:none;color:rgb(0,174,255);outline:none!important">today's housing market</a>:</p><blockquote style="margin:1.5em 0px;padding:1em;border-top:none;border-right:none;border-bottom:none;font-size:1em;line-height:1.3;outline:none!important;border-left:1px solid rgb(229,229,229)!important"><p style="outline:none!important;margin:0px 0px 1.5em"><em style="outline:none!important">"It's not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense that the hot market would turn and that, when it turned, things would get very ugly. <strong style="font-size:1em;outline:none!important">Today, I don't have that sense at all, because all of the fundamentals are there. Demand will be high for a while because Millennials need houses. Prices will keep rising for a while because inventory is so low</strong>."</em></p></blockquote></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-40788082044896332232021-07-20T08:57:00.001-07:002021-07-20T08:57:47.513-07:00Rate volatility remains high with housing data in for June<div dir="auto"><table width="100%" border="0" style="border-spacing:0px;border-collapse:collapse;background-color:rgb(255,255,255);color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px"><tbody><tr><td width="100%" style="padding:0px"><img src="https://www.losocialbot.com/images/marketing/marketsgreen.jpg" alt="" width="600" style="border:0px;vertical-align:middle;display:block;max-width:100%;height:auto !important;width:733.095px"></td></tr></tbody></table><h1 style="margin:0px 0px 10px;font-size:36px;font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);background-color:rgb(255,255,255)"><br></h1><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)">Published Date 7/20/2021</p><table width="100%" border="0" style="border-spacing:0px;border-collapse:collapse;background-color:rgb(255,255,255);color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px"><tbody><tr><td width="33%" style="padding:0px"><img src="http://losocialbot.com/images/dials/email-dial-1-position-r3.png" width="192" height="214" alt="" style="border:0px;vertical-align:middle"></td><td width="33%" style="padding:0px"><img src="http://losocialbot.com/images/dials/email-dial-2-position-r2.png" width="192" height="214" alt="" style="border:0px;vertical-align:middle"></td><td width="33%" style="padding:0px"><img src="http://losocialbot.com/images/dials/email-dial-3-position-l4.png" width="192" height="214" alt="" style="border:0px;vertical-align:middle"></td></tr></tbody></table><div style="color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)" dir="auto"></div><hr style="height:0px;margin-top:20px;margin-bottom:20px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;border-top-style:solid;border-top-color:rgb(238,238,238);color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><h3 style="font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);margin-top:0px;margin-bottom:10px;font-size:24px;background-color:rgb(255,255,255)">Today's Mortgage Rate Summary</h3><h4 style="font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);margin-top:0px;margin-bottom:10px;font-size:18px;background-color:rgb(255,255,255)">How Rates Move:</h4><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)">Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.</p><h4 style="font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);margin-top:0px;margin-bottom:10px;font-size:18px;background-color:rgb(255,255,255)">Rates Currently Trending: <span style="color:rgb(245,176,36)">Neutral</span></h4><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)">Rates are moving sideways so far today. <strong>The MBS market improved by +8 bps yesterday.</strong> This caused rates or fees to mostly move sideways for the day. The rates experienced high volatility yesterday.</p><h4 style="font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);margin-top:0px;margin-bottom:10px;font-size:18px;background-color:rgb(255,255,255)">Today's Rate Forecast: <span style="color:rgb(245,176,36)">Neutral</span></h4><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>Housing: </strong>June Housing Starts were better than expected (1.643M vs. est. of 1.590M) but Building Permits were lighter than expected (1.598M vs. est. of 1.700M)</p><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)"><strong>Central Banks: </strong>The People's Bank of China kept their key interest rate at 3.85%</p><h4 style="font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);margin-top:0px;margin-bottom:10px;font-size:18px;background-color:rgb(255,255,255)">Today's Potential Rate Volatility: <span style="color:rgb(255,0,0)">High</span></h4><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)">This morning we're expecting some bounce back after yesterday but instead we have floated around the resistance level of the trading channel. Volatility remains high with Delta variant and inflation competing for market focus.</p><h4 style="font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51);margin-top:0px;margin-bottom:10px;font-size:18px;background-color:rgb(255,255,255)">Bottom Line:</h4><p style="margin:0px 0px 10px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;font-size:15px;background-color:rgb(255,255,255)">If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.</p><small style="font-size:12.75px;color:rgb(51,51,51);font-family:"segoe ui","segoe wp","segoe regular",sans-serif;background-color:rgb(255,255,255)">Source: TBWS</small><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-39179193074504714462021-07-19T17:27:00.001-07:002021-07-19T17:27:42.464-07:00Global Markets Are Shaping Rates<div dir="ltr"><table width="100%" border="0" style="border-spacing:0px;border-collapse:collapse;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><tbody style="box-sizing:border-box"><tr style="box-sizing:border-box"><td width="100%" style="box-sizing:border-box;padding:0px"><img src="https://www.losocialbot.com/images/marketing/bullbearfblutz.jpg" alt="" width="600" class="gmail-img-responsive" style="box-sizing: border-box; border: 0px; vertical-align: middle; display: block; max-width: 100%; width: 953px; height: auto;"></td></tr></tbody></table><h1 style="box-sizing:border-box;margin:0px 0px 10px;font-size:36px;font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-weight:500;line-height:1.1;color:rgb(51,51,51)">Global Markets Are Shaping Rates</h1><p class="gmail-article-date" style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px">Published Date 7/19/2021</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><strong style="box-sizing:border-box">Last Friday the 10-year note closed right on its technical resistance at 1.30%.</strong> On Friday afternoon we commented "However it happens next week, the 10-yr. note (thus mortgage rates) are likely to see larger movements than we saw this week. Either the 10 breaks below 1.30%, or it doesn't; regardless the direction, the 10- yr. and mortgages are in for a volatile week coming up". The 10 broke the resistance at 8:00 pm ET yesterday and fell through the night and early morning, dropping the note to 1.22% at 8:30 am ET, 8 bps lower than Friday's close. MBS prices at 8:30 am ET +19 bps from Friday's close. The biggest moves in the interest rate markets just began overnight.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><strong style="box-sizing:border-box">US stock indexes are getting slapped hard in pre-opening trade. The DJIA at 8:30 am ET was down -500. </strong>The news wires are pointing to the rising COVID delta virus as one key reason for the global equity markets slumping. While this is not happening as much here in the US, Asian countries and Europe are seeing a dramatic increase in new cases. There is more to it, however. This morning in the WSJ key economists from the large Wall Street firms are expecting the strong economic growth that has marked this year won't be sustained in Q3 and Q4. While they aren't looking for any recession and are still quite bullish for this year and in 2022, growth is not expected to be as powerful. "We've moved into the more moderate phase of expansion," said Ellen Zentner, chief U.S. economist at Morgan Stanley. "We're past the peak for growth, but that doesn't mean something more sinister is going on here and that we're poised to then drop off sharply."</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><strong style="box-sizing:border-box">It's not news that the economy has been on fire.</strong> It's also not news that financial markets have continued to push to new highs almost daily with demand for unproven IPOs, only now being seen in the light of excessive optimism. A correction is getting underway with increasing thoughts of a cooling down of the recent growth in outlooks when seen in the context of present growth outlooks that have softened over the last few weeks. The headlines in the media are that the decline in stocks and interest rates is mostly due to the increase in the spread of the delta variant. It may not be that simple, however.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><strong style="box-sizing:border-box">At 9:30 am ET </strong>the DJIA opened down -458, the NASDAQ -171, S&P -51. 10 yr. 1.23% -7 bps. FNMA 2.5 30 yr. coupon +17 bps from Friday's close and +14 bps from 9:30 am ET Friday.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><strong style="box-sizing:border-box">At 10:00 am ET</strong> the July NAHB housing market index expected at 82 from 81 in June, as released 80. Still strong but the index has leveled off the last three months.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><strong style="box-sizing:border-box">It is a different world these days in movements of US treasuries and mortgage prices; </strong>in the so-called "old days" most of the changes in US interest rates occurred in the US session; these days the majority of the changes begin in the Asian time session. As is the case today the technical break below 1.30% started at 8:00 pm ET last night.</p><p style="box-sizing:border-box;margin:0px 0px 10px;color:rgb(51,51,51);font-family:"Segoe UI","Segoe WP","Segoe Regular",sans-serif;font-size:15px"><small style="box-sizing:border-box;font-size:12.75px">Source: TBWS</small></p><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><br> </div></div></div></div></div></div></div></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-31499824707493659182021-04-09T15:07:00.001-07:002021-04-09T15:07:14.857-07:00Inflation Plus Rising Rates Will Test US Homebuilder Pricing Power<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfgyq4nkM8_fatLDyTaU9WZDrGuE2Pmo4z_E4VFQ9Smc_9uSxp3306XD4yY-Ry-lVuzcwQVWoQMzBaVGdnkRxys9Vu6aGKA7EdfHgze43SDn0hLyuf5j0vUxoWGA_eIfWo-BCv38w7U6BD/s1600/Screenshot_20210409-150511_Chrome-734864.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfgyq4nkM8_fatLDyTaU9WZDrGuE2Pmo4z_E4VFQ9Smc_9uSxp3306XD4yY-Ry-lVuzcwQVWoQMzBaVGdnkRxys9Vu6aGKA7EdfHgze43SDn0hLyuf5j0vUxoWGA_eIfWo-BCv38w7U6BD/s320/Screenshot_20210409-150511_Chrome-734864.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6949283010107075826" /></a></p><div dir="auto">The combination of higher building material costs and rising mortgage rates will test the pricing power of US homebuilders, says Fitch Ratings. We expect demand to remain strong through 1H21, providing support for modest price increases on newly constructed homes, but trends could soften in 2H21, given increasing affordability issues and tougher yoy comps. Homeownership for entry-level and first-time homebuyers will increasingly become a challenge if higher costs are passed on to customers and the upward trend in mortgage rates continues.<div dir="auto"><br></div><div dir="auto"><a href="https://www.fitchratings.com/research/corporate-finance/inflation-plus-rising-rates-will-test-us-homebuilder-pricing-power-26-03-2021">https://www.fitchratings.com/research/corporate-finance/inflation-plus-rising-rates-will-test-us-homebuilder-pricing-power-26-03-2021</a><br><br><div data-smartmail="gmail_signature" dir="auto"><br></div></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-37828904860289083572020-12-16T19:46:00.001-08:002020-12-16T19:46:56.407-08:00Interest Rates Are Projected to Stay Low<p><div class="separator" style="clear: both; text-align: center;">
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</div>In the latest projections from <em>Freddie Mac,</em> interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021.</p><p>#interestrates #interestratesarelow #interestratesaredown </p>Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-30755698975564079142020-11-15T10:08:00.001-08:002020-11-15T10:08:45.386-08:00Million-dollar home sales soar in metro Phoenix despite pandemic<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRC5RBGV82WQDWd-kRwIT6M927Hjl3V4v2K2SxyQOaX9qT-59WeebLn5KgO9JtviZ_xUFy0WZkzYsZGPvRANZpKmzPjyW6Zv51LfLsu25fKI2h8wl9AIBcHgG37xCCvhPVloz3Gf1t5LMy/s1600/9e428c9c-6bba-48c6-a70d-4e52dea0a577-phoenician-725403.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRC5RBGV82WQDWd-kRwIT6M927Hjl3V4v2K2SxyQOaX9qT-59WeebLn5KgO9JtviZ_xUFy0WZkzYsZGPvRANZpKmzPjyW6Zv51LfLsu25fKI2h8wl9AIBcHgG37xCCvhPVloz3Gf1t5LMy/s320/9e428c9c-6bba-48c6-a70d-4e52dea0a577-phoenician-725403.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6895414201305959890" /></a></p><div dir="auto"><div dir="auto">In the midst of a pandemic, wealthy buyers are snapping up metro Phoenix's million-dollar homes at a record pace.<br></div><div dir="auto"><br></div><div dir="auto"><br></div>Read more... <a href="https://www.azcentral.com/story/money/real-estate/catherine-reagor/2020/11/15/million-dollar-home-sales-soar-metro-phoenix-despite-pandemic/6267235002/">https://www.azcentral.com/story/money/real-estate/catherine-reagor/2020/11/15/million-dollar-home-sales-soar-metro-phoenix-despite-pandemic/6267235002/</a><br><br></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-74554518717376848942020-10-12T09:33:00.000-07:002020-10-12T09:34:10.390-07:00COVID-19 Has Changed The Housing Market Forever. Here’s Where Americans Are Moving (And Why)<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVgCN7FDlD7a9J48zJNSFpmx5LstMW4Mzgmf8vBIOOu7dZ4d2_8cwy08qpcoBnSuqYD6THlqtm5p_FAFL2LoBYhHDYt5yylZ8BLG67zMRQL5675CvPidwSsuEks6dPJ4cCNzQMFWOA4qf3/s1600/960x0-750473.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVgCN7FDlD7a9J48zJNSFpmx5LstMW4Mzgmf8vBIOOu7dZ4d2_8cwy08qpcoBnSuqYD6THlqtm5p_FAFL2LoBYhHDYt5yylZ8BLG67zMRQL5675CvPidwSsuEks6dPJ4cCNzQMFWOA4qf3/s320/960x0-750473.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6882772935371352754" /></a></p><div dir="auto"><div dir="auto">Amid all the uncertainty brought on by COVID-19 over the past six months, one thing is assured: the pandemic has re-ordered real estate markets across the board on an unprecedented scale.<br></div><div dir="auto"><br></div>Read more... <a href="https://www.forbes.com/sites/petertaylor/2020/10/11/covid-19-has-changed-the-housing-market-forever-heres-where-americans-are-moving-and-why/">https://www.forbes.com/sites/petertaylor/2020/10/11/covid-19-has-changed-the-housing-market-forever-heres-where-americans-are-moving-and-why/</a><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-27250416284559858162020-09-06T10:35:00.001-07:002020-09-06T10:35:58.124-07:00Phoenix Real Estate Market 2020: Housing Prices & Forecast<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiM0kkVskHVm9dbO0rrMozW-f-I7hBEyb_pRoN45HhmVgTX5_4VmrIAG-zdosM6f-q4z9rr7YY2ZrSrAzk83FpN4BKs3jkxUlPmr4JicHIpSOnXGnG3S0wEGAGi_vvBXnbvTP6XQPMuPKQw/s1600/phoenixhousing_hmed_2p.grid-6x2-758167.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiM0kkVskHVm9dbO0rrMozW-f-I7hBEyb_pRoN45HhmVgTX5_4VmrIAG-zdosM6f-q4z9rr7YY2ZrSrAzk83FpN4BKs3jkxUlPmr4JicHIpSOnXGnG3S0wEGAGi_vvBXnbvTP6XQPMuPKQw/s320/phoenixhousing_hmed_2p.grid-6x2-758167.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6869429789083927666" /></a></p><div dir="auto"><div dir="auto">Even after suffering from the pandemic, the Phoenix housing market 2020 still comes out on top. As we saw Arizona real estate market thriving & becoming sizzling hot in the past couple of years, even the rise in mortgage rates was believed not to affect it. We've been seeing real estate appreciation rates increasing year-over-year in the entire metro area. The Greater Phoenix area was also predicted to be among the top housing markets in the year 2020. It is now clear that the pandemic could not change that prediction. It could only pause sales, which in turn created a huge pent up demand.</div><div dir="auto"><br></div>Read more... <a href="https://www.noradarealestate.com/blog/phoenix-real-estate-market/">https://www.noradarealestate.com/blog/phoenix-real-estate-market/</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-56490309753259244872020-05-25T07:40:00.000-07:002020-05-25T07:41:06.608-07:00Historical Data Shows Housing Market Will Boom After The 2020 Crisis, And So Will Bitcoin<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitOyf7zBJ4VQ63jQ-ZSXcehOgZvc0t1JD2BBd4kKbHmQs_uhtpSoXEA4EfCfxW7KnjkSuC1GdRZ31Hdb6lMmD9pHzNJIaKzzhnwW-PaZUcd3ojYRXGtCW-UpRB2XHiccHhQYW9DZc89xnP/s1600/960x0+%25281%2529-766751.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitOyf7zBJ4VQ63jQ-ZSXcehOgZvc0t1JD2BBd4kKbHmQs_uhtpSoXEA4EfCfxW7KnjkSuC1GdRZ31Hdb6lMmD9pHzNJIaKzzhnwW-PaZUcd3ojYRXGtCW-UpRB2XHiccHhQYW9DZc89xnP/s320/960x0+%25281%2529-766751.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6830791871978084834" /></a></p><div dir="auto"><div dir="auto">Historical data from the late 1990s show a financial crisis is often followed with a steep increase in housing prices. If real estate grows in a similar manner as the 2000s, safe haven assets like gold and potentially Bitcoin may follow.<br></div><div dir="auto"><br></div>Read more... <a href="https://www.forbes.com/sites/youngjoseph/2020/05/24/historical-data-shows-housing-market-will-boom-after-the-2020-crisis-and-so-will-bitcoin/">https://www.forbes.com/sites/youngjoseph/2020/05/24/historical-data-shows-housing-market-will-boom-after-the-2020-crisis-and-so-will-bitcoin/</a><br><br></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-85254097240834628112020-05-23T09:09:00.001-07:002020-05-23T09:09:48.240-07:00FHFA Announces Refinance and Home Purchase Eligibility for Borrowers in Forbearance<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKr0Hmxry8wxIdmBiINIAG4ZNGr4bY-quZ4BvtiodYaU-OBKXsH-31QF-uKtQKKKjMWppVW7XI78N4bGQme56bzb1pR-o1jUtCIad9b4P4dAHRXy0YkiMUQazV9lrhgXJkpSaOEsuqc7vY/s1600/Federal-Housing-Finance-Agency-FHFA-Seal-788311.png"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKr0Hmxry8wxIdmBiINIAG4ZNGr4bY-quZ4BvtiodYaU-OBKXsH-31QF-uKtQKKKjMWppVW7XI78N4bGQme56bzb1pR-o1jUtCIad9b4P4dAHRXy0YkiMUQazV9lrhgXJkpSaOEsuqc7vY/s320/Federal-Housing-Finance-Agency-FHFA-Seal-788311.png" border="0" alt="" id="BLOGGER_PHOTO_ID_6830072555843380770" /></a></p><div dir="auto"><div dir="auto">Washington, D.C. – Today, to support borrowers and mortgage servicers, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.<br></div><div dir="auto"><br></div>Read more... <a href="https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Announces-Refinance-and-Home-Purchase-Eligibility-for-Borrowers-in-Forbearance.aspx">https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Announces-Refinance-and-Home-Purchase-Eligibility-for-Borrowers-in-Forbearance.aspx</a><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-18288644094759236852020-05-19T07:45:00.001-07:002020-05-19T07:45:32.308-07:00FHFA Issues Guidance on Refinances, Purchases While in Forbearance<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3rCTVIvi6dfO6UgRS3fWJo9_rf3Trphb-ltAASTY6W1m5JM2ui9HR4oew-FebBtD9OUzuiLaYTV6TfYAzeGD_6b0ai4CGqJ5K-fzqFKpFlN4E0eJehyAlgSXy_ELOvcma2JzMhPXPsXU-/s1600/shutterstock_674105980-300x200-300x200-732323.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3rCTVIvi6dfO6UgRS3fWJo9_rf3Trphb-ltAASTY6W1m5JM2ui9HR4oew-FebBtD9OUzuiLaYTV6TfYAzeGD_6b0ai4CGqJ5K-fzqFKpFlN4E0eJehyAlgSXy_ELOvcma2JzMhPXPsXU-/s320/shutterstock_674105980-300x200-300x200-732323.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6828566499773760482" /></a></p><div dir="auto"><div dir="auto">The Federal Housing Financing Agency (FHFA) announced Tuesday that Fannie Mae and Freddie Mac have issued temporary guidance regarding the eligibility of borrowers in forbearance, or recently ended their forbearance, looking to refinance and purchase a home. <br></div><div dir="auto"><br></div>Read more... <a href="https://dsnews.com/daily-dose/05-19-2020/fhfa-issues-guidance-on-refinances-purchases-while-in-forbearance">https://dsnews.com/daily-dose/05-19-2020/fhfa-issues-guidance-on-refinances-purchases-while-in-forbearance</a><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-73468123788086955302020-05-17T11:32:00.001-07:002020-05-17T11:32:26.903-07:00Housing markets in most big cities struggle because of coronavirus shutdowns, but these markets buck the trend<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhB8hzOio0vo29yECtY1Q-s4ZuBayjJC8tptvxskaxf-uJ6kauuLxQXuv4yQ15F_i0_00Z9ovNaK_zDXDFpPSNUkf_4pNNUhjuE3SKRfwT_I6_NuSiC6PmKi9YgVNvti-bkx3VgC_W3p3DE/s1600/Screenshot_20200517-113017_Chrome-746939.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhB8hzOio0vo29yECtY1Q-s4ZuBayjJC8tptvxskaxf-uJ6kauuLxQXuv4yQ15F_i0_00Z9ovNaK_zDXDFpPSNUkf_4pNNUhjuE3SKRfwT_I6_NuSiC6PmKi9YgVNvti-bkx3VgC_W3p3DE/s320/Screenshot_20200517-113017_Chrome-746939.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6827882805095604370" /></a></p><div dir="auto"><div dir="auto">Coronavirus has run roughshod over most of the nation's big-city real estate markets for more than six weeks now, paralyzing agents, halting showings and causing double-digit drops in listings and new inventory as frightened sellers withdraw their properties from consideration.<br></div><div dir="auto"><br></div>Read more... <a href="https://www.usatoday.com/story/money/2020/05/07/cities-buck-coronavirus-real-estate-slump/3049239001/">https://www.usatoday.com/story/money/2020/05/07/cities-buck-coronavirus-real-estate-slump/3049239001/</a><br><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.comtag:blogger.com,1999:blog-1774300561763341564.post-69961425647608282562020-05-10T11:57:00.001-07:002020-05-10T11:57:57.519-07:00Metro Phoenix rents climb 3 times as fast as US average. Will eviction aid be enough?<p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG9fDPcDQeunYWr-zmQrfRbzMMSSE_KI5OnfckJG_cqgFPty6WkoWabhV8kKqsy4AC6wjiQNRuTn48LAqA6BiDbpaUaSZj890iGCCHaDzJ_ai068Pu49pbWeSlAdGH20Ol_8zZuCKlaXrX/s1600/Screenshot_20200510-115646_Chrome-777542.jpg"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG9fDPcDQeunYWr-zmQrfRbzMMSSE_KI5OnfckJG_cqgFPty6WkoWabhV8kKqsy4AC6wjiQNRuTn48LAqA6BiDbpaUaSZj890iGCCHaDzJ_ai068Pu49pbWeSlAdGH20Ol_8zZuCKlaXrX/s320/Screenshot_20200510-115646_Chrome-777542.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_6825291786645307042" /></a></p><div dir="auto"><div dir="auto">Metro Phoenix rents climbed nearly three times as fast as the average U.S. increase during the past 12 months, despite a slight reprieve for tenants last month.<br></div><div dir="auto"><br></div><div dir="auto"><br></div>Read more... <a href="https://www.azcentral.com/story/money/real-estate/catherine-reagor/2020/05/10/coronavirus-pandemic-metro-phoenix-area-apartments-rent-increase-us-average/5179104002/" target="_blank" rel="noreferrer">https://www.azcentral.com/story/money/real-estate/catherine-reagor/2020/05/10/coronavirus-pandemic-metro-phoenix-area-apartments-rent-increase-us-average/5179104002/</a><br><div data-smartmail="gmail_signature"><br></div></div> Lillian Wonghttp://www.blogger.com/profile/05901309298713420434noreply@blogger.com