Core Logic reports that home price appreciation is slowing.  Beginning in March, values rose 1.2%, 1.1% in April, 0.6% in May, and 0.3% in June.  Year-over-year, prices are up 4.7% from this time last year. Core Logic sees a 0.3% appreciation rate happening next month, and 2.3% by this time next year.  Black Knight also computes that values are up 4.7% YOY.

As rates drop and prices stabilize, expect sales volumes to skyrocket.  Aside from the tremendous pent up demand of those needing to right-size their living space, 17% of all young adults are still living with their parents.  That’s the highest level of free loading moochers USA has generated in 80 years.

Mortgage Bonds are taking a breather after making a run up to highs for the year.  This mild retreat puts temporary upward pressure on interest rates.