SUMMARY: Rate lock volume fell in May which means volume has fallen in 3 of the last 4 months, Altos Research has more evidence housing is slowing, the Fed could hike rates 75 bips on Wednesday, and Mark Zandi says even if we go into recession home prices will only fall 5.0%...

Sources:

• Rate Locks Continue To Fall In May
• Fed Likely to Consider 0.75-Percentage-Point Rate Rise This Week
• These 40 ‘overvalued’ housing markets could see 15% to 20% home price declines if a recession hits

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