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We started this piece by noting that Freddie Mac's economists wrapped up November in an unusually brief summary. Then we realized we had said almost exactly the same thing about the company's Economic and Strategic Research (ESR) Group's report last month. November's, however, was even shorter. Should we conclude that, if no news is good news, things are getting better and better? Perhaps not, but the economy does seem relatively stable. The summary noted that the 10-year Treasury Note featured the highest yields since July, largely because investors were growing optimistic that the U.S. and China might get a trade deal. But the market was also extremely volatile during the month as those hopes waned. The second week of November saw the 10-year Treasury yield plummet by nearly 15 basis points
Housing News
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We started this piece by noting that Freddie Mac's economists wrapped up November in an unusually brief summary. Then we realized we had said almost exactly the same thing about the company's Economic and Strategic Research (ESR) Group's report last ... (read more)
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Mortgage Rate Watch
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Mortgage rates increased moderately to begin the new week/month and had been increasing in general during the previous week. The net effect is some lenders are quoting rates that are an eighth of a point higher compared to those seen at the beginning... (read more)
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Rob Chrisman
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Did your company make any money in the 3rd quarter? I hope so, and I hope the 4th quarter is looking bright as well. (Just like I hope that MLOs on your staff are funding lots of loans, because if they aren’t, time to train them or let them exc... (read more)
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MBS Commentary
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As the bond market shook off the holiday weekend lethargy and metaphorically (and literally) returned to the office, it was met with an immediate barrage of selling triggers . Stronger Chinese data and an absence of trade deal escalation pushe... (read more)
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Housing News
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The nation's total spending on construction projects was at a seasonally adjusted annual rate of $1.291 trillion in October, 1.1 percent higher than a year earlier, but down 0.8 percent from the seasonally adjusted total in September of $1.301 trilli... (read more)
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Housing News
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Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 3.0 percent in October, down from 10.7 percent the previous month. The portfolio balance at the end of the period was $2.301 trillion compared to $2.2... (read more)
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