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Mortgage rates skyrocketed (relatively) following today's rate hike from the Fed. It wasn't the rate hike itself, however, that markets find most troubling. In fact, the hike was almost universally expected. Rather, this was one of the 4 Fed meetings of 2016 that included updated economic projections (sometimes referred to as "the dots" due to the dot-plot chart the Fed uses to show where members see the Fed Funds rate in coming years). Today's dots showed that the Fed now sees an additional rate hike in 2016 compared to the last set of projections. Longer term rates like mortgages and 10yr Treasuries had already adjusted for today's hike, but they had not yet adjusted for any change in the dots. With time running out for traders to take advantage of liquidity ahead of the holidays, the race
Mortgage Rate Watch
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Mortgage rates skyrocketed (relatively) following today's rate hike from the Fed. It wasn't the rate hike itself, however, that markets find most troubling. In fact, the hike was almost universally expected. Rather, this was one of the 4 Fed meetings... (read more)
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MBS Commentary
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First thing's first: the Fed will almost certainly hike today. I suppose we can't ever be truly certain of a particular outcome of a Fed meeting, but this is as certain as markets ever get on the topic. Based on market expectations and ... (read more)
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Housing News
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Under a final rule issued on Tuesday by the Federal Housing Finance Agency (FHFA) has set forth three underserved markets for activities the GSEs Freddie Mac and Fannie Mae can undertake to fulfill their Duty to Serve requirements . Under the Duty to... (read more)
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Housing News
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Mortgage applications were down across the board during the week ended December 9. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of application volume, was 4.0 percent lower than the previous week which ended ... (read more)
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Rob Chrisman
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Happy 121416, by the way, in the United States. Plenty of potential home buyers are still paying rent . You’re probably working in an office where the landlord earns rent from your company. When I play Monopoly and I land on someone’s pro... (read more)
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MBS Commentary
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(additions underlined, deletions struck-through)
For immediate release
Information received since the Federal Open Market Committee met in September November indicates that the labor market has continued to strengthen and growth of that e... (read more)
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freddiemac.mwnewsroom.com
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