"The rebound in new home sales actually understates the strength of the housing market. Demand is exceptionally strong throughout most of the country, and buyers have a fistful of dollars accumulated from relief checks and savings built up from when they were not dining out, attending concerts, traveling or spending money for other discretionary items or services during the pandemic." --Mark Vitner, Senior Economist with Wells Fargo Securities, Charlotte, N.C.

The Mortgage Bankers Association’s updated Economic Forecast projects 2021 purchase originations are on track to grow by 16.4% to a record $1.67 trillion.

The Federal Open Market Committee assembles in Washington this week for its regularly scheduled policy meeting, amid a hot economy and rising inflation.