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Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty" that the Federal Reserve's Open Market Committee (FOMC) will raise the fed funds rate at its December meeting. Over two weeks post-election the 10 -year Treasury note surged by over 50 basis points , closing at 2.35 percent on November 18. The increase was driven by higher than expected inflation and anticipation of the FOMC move -the probability of which the futures market was putting at 92 percent. Not only has the likelihood of a December rate hike increased, but expectations for future rate increases have shifted as well. At their last press
Housing News
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Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty"... (read more)
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Housing News
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President-elect Donald J. Trump may have just handed Freddie Mac and Fannie Mae a "get out of jail free" card. Trump has picked Steven Mnuchin to be Secretary of the Treasury. Among his first pronouncements to the press was that the two government sp... (read more)
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Mortgage Rate Watch
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Mortgage rates rose moderately today, bringing them roughly back in line with Monday's levels. For the record, that leaves us in slightly better shape than last week, which saw the highest rates in more than a year. Today's bond market weakness was d... (read more)
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MBS Commentary
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Yesterday we discussed the positive impact of month-end bond buying. The only problem with month-end buying that occurs on the day before month-end is that it can leave an imbalance of sellers on the last day of the month. This is a b... (read more)
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Housing News
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Pending home Sales eked out a 0.1 percent gain in October. The National Association of Realtors® said its Pending Home Sales Index (PHSI) barely managed a second straight month of gains , rising to 110.0 from a downwardly revised 109.9 in Septemb... (read more)
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Rob Chrisman
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Underwriters’ hands are tied in using income from something the Federal Government considers illegal. For example, Washington State had nearly $212 million in marijuana sales in the second quarter of 2016, approaching the $249 million sold in a... (read more)
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