Articles from June 2016

HUD Awards $5 Million to 24 Public Housing Agencies for Emergency and Security Improvements

WASHINGTON – The U.S. Department of Housing and Urban Development is awarding $ 5 million in grants to 24 public housing authorities in an effort to keep public housing residents safe and secure…. HUD Press Releases

Mortgage Rates Continue to New 3-Year Lows

Mortgage rates move lower again today following last week’s Brexit headlines (the U.K.’s vote to leave the European Union). Indeed it’s hard to turn on the TV, computer, or radio without hearing about Brexit. Global financial markets are still in the throes of the “initial reaction” time frame. That means selling stocks and buying bonds. […]

Mortgage Rates Lower Despite Bond Market Weakness

Mortgage rates fell modestly today despite some weakness in underlying bond markets. Typically, when bond yields (which move inversely with bond prices) are rising, mortgage rates tend to be higher as well. That wasn’t the case today for a few reasons. The most obvious reason is that bond markets didn’t move that much. Slightly more […]

HUD and Census Bureau Report New Residential Sales in May

WASHINGTON – Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000, according to estimates released jointly today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau…. HUD Press Releases

Mortgage Rates Prepare to React to Brexit

Mortgage rates moved higher for the 5th day in a row as financial markets prepare for the results of the U.K. referendum on its European Union membership (aka “Brexit”). In general, rates are expected to rise if the U.K. remains in the EU, and rates could fall back toward recent lows if the U.K. votes […]

HUD Finalizes Improved Tribal Consultation Policy; Offers Plan to Establish New Tribal Advisory Committee

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today an improved Tribal Government-to-Government Consultation Policy and is seeking public comment on a plan to establish a new Tribal Intergovernmental Advisory Committee…. HUD Press Releases

Single Best Day For Mortgage Rates in More Than a Year

Mortgage rates plummeted today following the surprise victory of the referendum for the U.K. leaving the European Union (aka “Brexit”). This joins the ranks as one of the few days in history where rates have moved a full eighth of a point in a single day. There have only been 9 instances in the past […]

HUD Names New Moving To Work Advisory Committee

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today named 15 persons to a new federal research advisory committee charged with offering independent advice to HUD on how to approach specific aspects of the seven-year expansion of the Department’s Moving to Work (MTW) Demonstration…. HUD Press Releases

Mortgage Rates Higher Despite Market Improvement

Mortgage rates were higher for a 4th straight day today. That is a bit of a puzzler at first glance because bond markets are showing improvements from yesterday. 10yr yields are 0.02% lower and even the mortgage-backed-securities (MBS) that dictate mortgage rates are in better territory. So why no love for mortgage rates themselves? Most […]

Rates Move Higher for First Time in Nearly 2 Weeks

Mortgage rates moved higher today for the first time in nearly 2 weeks. After rising slightly on Monday June 6th, rates have been on a mission–moving slowly and steadily to the lowest levels in well over 3 years. Even after today’s modest increase, rates are still at 3-year lows in terms of contract interest rates. […]