Construction spending increased slightly in November compared to October and increased its lead year-over-year from the 7.5 percent improvement reported for October. The U.S. Census Bureau said construction put in place for all sectors in November was at a seasonally adjusted annual rate of $1.626 trillion compared to $1.619 trillion the prior month, an 0.4 percent change. Compared to November 2020, the total was up 9.3 percent. Total spending for the year-to-date (YTD) totals $1.463 trillion . This is 7.9 percent more than was spent in the first 11 months of 2020. Private sector spending was at an annual rate of $1.274 trillion during the month, up 0.6 percent from the October rate and 12.5 percent above spending a year earlier. On an unadjusted basis, the private sector spent $107.605 billion and for the YTD a total of $1.142 trillion. The latter number represents 12.0 percent growth over the $1.020 trillion spent during the same period in 2020. Residential construction spending had been somewhat of a drag on overall growth for the prior several months, but improved in November. Total construction spending, a seasonally adjusted $796.308 billion, was 0.9 percent higher than annualized spending in October and up 16.3 percent year-over-year. The improvement was primarily due to new single-family home building which increased 1.2 percent to a rate of $421.048 billion, 19.4 percent higher than in November 2020. Multi-family construction slipped 0.3 percent for the month but was up 9.6 percent on an annual basis.
| Mortgage Rates Now Highest in 9 Months | | The year is not off to a great start for mortgage rates . At the end of last week, we were already looking at the highest levels in months. The silver lining was that the past few months had seen a very narrow range with rates finally just barely breaking the previous highs. In other words, "highest in months" was a bit of a technicality... (read more) |
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| 30 Yr. Fixed Rate | | 3.29% +0.00% |
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| Rate | Change | Points |
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| Mortgage News Daily | | 30 Yr. Fixed | 3.29% | 0.00 | 0.40 | | 15 Yr. Fixed | 2.64% | 0.00 | 0.40 | | 30 Yr. FHA | 2.92% | 0.00 | 0.00 | | 30 Yr. Jumbo | 3.18% | 0.00 | 0.00 | | 5/1 ARM | 3.62% | 0.00 | 0.50 | | Updates Daily - Last Update: 1/3 |
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| 15 Yr. Fixed Rate | | 2.64% +0.00% |
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| Rate | Change | Points |
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| Freddie Mac | | 30 Yr. Fixed | 3.11% | +0.06 | 0.70 | | 15 Yr. Fixed | 2.33% | +0.03 | 0.70 | | 5/1 Yr. ARM | 2.41% | +0.04 | 0.50 | | Updates Weekly - Last Update: 12/30 |
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| Mortgage Bankers Assoc. | | 30 Yr. Fixed | 3.30% | -0.01 | 0.43 | | 15 Yr. Fixed | 2.63% | +0.01 | 0.31 | | 30 Yr. Jumbo | 3.27% | -0.06 | 0.35 | | Updates Weekly - Last Update: 12/8 |
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| MBS Live Recap: Unhappy New Year For Bonds So Far | | Unhappy New Year For Bonds So Far The first trading day of the new year ended up being one of the worst in months for the bond market. To make matters worse, there were no satisfying explanations as to why it happened--no obvious, individual market movers to blame. In fact, the day's biggest selling happe... (read more) |
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| UMBS 30YR 2.5 | | 101.58 -0.50 |
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| Price / Yield | Change |
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| MBS | | UMBS 2.5 | 101.58 | -0.50 | | UMBS 3.0 | 103.34 | -0.30 | | GNMA 2.5 | 102.06 | -0.41 | | GNMA 3.0 | 103.23 | -0.27 | | Pricing as of: 1/3 5:21PM EST |
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| 10 Year US Treasury | | 1.6315 +0.1197 |
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| Price / Yield | Change |
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| US Treasury | | 2 YR Treasury | 0.772 | +0.038 | | 5 YR Treasury | 1.357 | +0.094 | | 7 YR Treasury | 1.550 | +0.114 | | 10 YR Treasury | 1.632 | +0.120 | | 30 YR Treasury | 2.028 | +0.122 | | Pricing as of: 1/3 5:21PM EST |
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