The Monday Show

SUMMARY: Case-Shiller shows negative home price growth for the first time since 2012 but also shows home price growth increasing for three straight months, FHFA HPI shows home price growth increasing for four straight months, mortgage demand rises for the third week, and consumer confidence hits a 17-month hight.

NOTES:

• Home Prices Go Negative For First Time Since 2012
• New Home Sales Jump 12% in May
• Mortgage demand rise for the third straight month
• Consumer confidence leaps to 17-month high

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Consumer prices in May slowed more than expected with the headline number falling to 4.0%, rate lock volume jumped over 14% in May, and housing inventory rose for the 8th straight week.

• CPI Report Shows Inflation Has Been Cut in Half From Last Year’s Peak
• Rate Locks Rise in May Despite Jump in Rates
• Housing Inventory Rose For the 8th Straight Month

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: A new report from NAR highlights just how severe the housing inventory problem is for middle-income buyers, it is a busy week with inflation data and a decision from the Fed, and rate lock volume rises slightly in May.

• Affordable Inventory Problem
• This Week: Fed Decision
• Mortgage Locks Saw Modest Rise in May

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Home price growth rose for the third straight month in April, economists predict home prices will end the year up about 4%, UK home prices fall into negative territory for the first time since 2012, mortgage demand falls for the fourth straight week, and rates continue to hold...

• Home Prices Rise For Third Straight Month
• UK house prices post first annual drop since 2012
• Mortgage demand falls for fourth straight week

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Homer prices rise for the fourth straight month as credit tightens in the industry, CoreLogic also shows home prices rising, inventory levels rising for the third straight week, and rates look to hold steady ahead of the big week...

• Home Prices Rise For Fourth Consecutive Month
• Housing Inventory Rises For Third Week
• CoreLogic: Home prices rise in April

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Friday's jobs report once again beats estimates which starts up chatter that the Fed is not done raising rates, the 10-year treasury jumps with a hotter-than-expected jobs report, a slow week for data ahead of CPI and Fed meeting next week, Black Knight report shows home prices rising for the third straight month, and producer prices slow to the lowest level in over two years in Europe.

• Economy Creates 339k Jobs in May
• Home Prices rise slightly in April
• This Week: Housing Data
• Euro Zone Producer Prices Down For 7th Month In April

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

The debt ceiling agreement overwhelmingly passed the House and is now headed to the Senate for final approval, job openings jump over 10 million again but quits continue to fall, ADP shows a big jump in May, and mortgage demand falls for the third straight week.

• Debt ceiling bill passes House, moves to Senate as deadline nears
• Job Openings Jump Back Over 10 Million
• Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says
• Mortgage Demand Falls For Third Straight Week

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

Home prices slowed in March but remained in positive territory after a big month-over-month gain, consumer confidence fell less than expected in May, mortgage demand continues to fall as rates climb, and all eyes remain on Washington as the House is set to vote on the debt ceiling deal...

• Home Price Growth Slows But Remain in Positive Territory
• Consumer Confidence Falls Less Than Expected in May
• Mortgage demand drops to the lowest level in three months
• Debt Ceiling Debate Moves Toward A House Vote

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

Debt ceiling deal announced over the weekend is good news for mortgage rates if it can pass both chambers, a ton of important data for a short workweek, bad inflation rate report on Friday has some worried about future rate hikes, and the latest Case-Shiller report shows that home price declines could be over...

• Debt Ceiling Deal Reached Before Default
• This Week: Jobs & Housing Data
• Uh-Oh: Inflation Data Unexpectedly Jumps in April
• Home price declines may be over, S&P Case-Shiller says

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

European markets take a dive overnight after a higher-than-expected inflation report in the UK, new home sales unexpectedly jump to a 12-month high in April, and a Twitter pundit claims NINJA loans are coming back despite the fact that her example is not a NINJA loan...

• European markets are getting hammered this morning after UK inflation report
• New home sales jump to a 12-month high
• The NINJA loan that's not a NINJA loan

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201