Mutual of Omaha Mortgage TPO

Sales of existing homes fell for the second straight month in September, hitting a 14-year low. On a positive note for buyers, inventory did rise (up 1.5% MoM and 23% YoY). #homebuyers #homesales #realestate #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

Housing Starts eased MoM in September, as a decline in multi-family projects outweighed the increase in single-family home building. Building Permits, a sign of future construction, saw a similar pattern. Limited new supply (relative to household growth) should continue to support home prices. #homebuyers #homebuilder #newconstruction #realestate #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

While home builder confidence remains below 50 in contraction territory, it has now risen for two straight months after declining throughout the spring and summer. All three index components also improved, and the large, 10-point gap between Future and Current Sales Expectations points to rising optimism about the effect of lower rates. #homebuilder #newconstruction #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

While the latest CPI report was hotter than expected, inflation continues to make progress. Headline CPI eased to 2.4% YoY in September, hitting its lowest level since February 2021. In addition, the seriously lagging shelter component finally showed signs of easing. #cpi #inflation #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

The MBS Highway National Housing Index was flat in October 2024 at 40, with a modest increase in buying activity offset by weakening home price momentum. #mbshighwayhousingsurvey #mbshighwayhousingindex #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

Job growth was well above estimates in September, as the BLS reported that 254K new jobs were created versus the 140K that were forecasted. Revisions to previous data for July and August also added 72K jobs from those months combined, while the unemployment rate fell slightly to 4.1%. #bls #jobs #unemploymentrate #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

Private sector job growth rebounded in September, as employers added 143K new jobs, which was above forecasts. However, small businesses once again reported job losses while wage growth continued to moderate, especially for job changers. #adp #job #mbssocialshare #mortgagemarketnews #mortgageintheknow

The Fed’s favorite measure of inflation, Core PCE, saw a slight increase of 0.1% from July to August. On an annual basis, Core PCE rose from 2.6% to 2.7%, remaining near the slowest annual pace in over three years. #pce #inflation #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

Pending Home Sales (signed contracts on existing homes) rose 0.6% from July to August, rebounding from their lowest level in a year. NAR’s Chief Economist, Lawrence Yun, noted that the slight move higher in activity “reflects a modest improvement in housing affordability." #homesales #realestate #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

National home prices hit another all-time high in July! Case-Shiller’s Index showed a seasonally adjusted 0.2% rise from June, while prices are also 5% higher than a year earlier. Case-Shiller noted that they “have witnessed 14 consecutive record highs” in their National Index when accounting for seasonality. #caseshiller #recordhomeprices #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow