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

December 14, 2016 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Surge Past 2-Year Highs After Fed Announcement 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) MBS Commentary MBS Live Day Ahead: What Can The Fed Do To Bonds Today? 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) Housing News Fannie and Freddie Hear Call of Duty (to Serve) 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) Housing News Mortgage Apps Fall, But Refi Share Ticks Up 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) Rob Chrisman Product News; Training/Events; Bank News; UW Changes; How Big is Big? 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) MBS Commentary MBS Live Commentary: Differences Between Current and Previous FOMC Statements (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) Mortgage Rates Mortgage Rates Surge Past 2-Year Highs After Fed Announcement 30 Yr. Fixed Rate 6.28% -0.01% Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 15 Yr. Fixed Rate 5.65% +0.05% Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 MBS / Treasuries MBS Live Day Ahead: What Can The Fed Do To Bonds Today? MBS Live Commentary: Differences Between Current and Previous FOMC Statements UMBS 30YR 5.5 101.23 +0.10 MBS Price Change UMBS 5.0 99.69 +0.22 UMBS 5.5 101.25 +0.13 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.24 +0.12 GNMA 6.0 102.16 +0.03 Pricing as of: 9/8 1:50PM EST 10 Year US Treasury 4.0618 -0.0249 US Treasury Yield Change 2 YR Treasury 3.499 -0.019 5 YR Treasury 3.578 -0.011 7 YR Treasury 3.785 -0.015 10 YR Treasury 4.060 -0.026 30 YR Treasury 4.716 -0.054 Pricing as of: 9/8 1:50PM EST Latest Video Yellen: Concerned about low productivity growth Fed raises rates Fisher: I refer to Trump as the orange swan, which is a happy surprise Around the Web freddiemac.mwnewsroom.com Freddie Mac Announces New Foreclosure Prevention Program Bloomberg Bond Traders Signal Two Rate Hikes in 2017, While Fed Sees Three CNBC Op-Ed: The Fed must hike rates more aggressively in 2017 or the bond market will 'run them over' CNBC Fed Chair Yellen details plans to hike rates 3 times in 2017 CNBC FED HIKES, FORESEES 3 MORE HIKES IN 2017 Federal Reserve Federal Reserve issues FOMC statement Federal Reserve Federal Reserve Board and Federal Open Market Committee release economic projections from the December 13-14 FOMC meeting CNBC Economists chop their growth forecasts, and American shoppers are to blame CNBC Expected rate hike could start a 'nose to nose' between Trump and the Fed: Art Cashin CFPB Monitor CFPB issues brief on consumers without credit histories or credit scores Calculated Risk Blog Sacramento Housing in November: Sales up 19%, Active Inventory down 4.8% YoY feedproxy.google.com Home Sales Expected to Expand Modestly in 2017 As Affordability Pressures Temper Buyer Enthusiasm CNBC US business inventories post largest decline in 11 months

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