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

November 30, 2016 Download our Mobile App: Download our Mobile App: Housing News Mortgage Activity Will Be Crushed By Rising Rates -Freddie Mac 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) Housing News Will Trump's New Appointee End GSE Conservatorship? 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) Mortgage Rate Watch Mortgage Rates Moderately Higher 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) MBS Commentary MBS Live Day Ahead: Oil Adding Fuel to Bonds' Inflationary Fire Fears 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) Housing News Pending Home Sales Rise (Sort of) to 4-Month Highs 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) Rob Chrisman CFPB Appraisal News; Non-Agency MBS Update 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) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 6:17AM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 6:17AM EST Latest Video Will Mnuchin's past come back to haunt him? October pending home sales up 0.1% Oil surges on reports of OPEC production deal Around the Web NAR - Realtor.com Trump Names Mortgage Industry Lobbyist to HUD Transition Team CNBC Fed's Mester: Rate hike now would help the economy Calculated Risk Blog NY Fed: Household Debt Increased Slightly in Q3 2016, Mortgage Delinquency Rates Declined Reuters U.S. crude inventories fall unexpectedly, big distillate build: EIA CNBC OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers CNBC Fed's Kaplan advocates rate hike, nods to Trump policies Reuters Consumer spending, income increase in October CNBC Despite Trump criticism, treasury and commerce nominees say Yellen's done 'good' job freddiemac.mwnewsroom.com Freddie Mac November 2016 Outlook Reuters U.S. stock futures rise on optimism of big OPEC output cut NPR Reports: Trump Picks Steve Mnuchin To Lead Treasury Department NAR - Realtor.com The 5 Real Estate Trends That Will Shape 2017 CNBC Bond investors focus on potential OPEC deal; data eyed

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