Despite the 3.2 percent annualized growth in the GDP in the third quarter, Fannie Mae's economists expect the full-years growth to moderate to less than 2 percent this quarter, finishing at 1.8 percent growth for the year. In the company's December Economic Development summary its Economic and Strategic Research Group (ESR) said their forecast does not include the effects of any new federal policies "due to considerable uncertainty about the President-elect's policy agenda and the extent of support he will receive from the new Congress. The report acknowledges the significant increase in long term interest rates over the preceding month with the 10-year T-bill touching 2.6 percent, the highest rate since July 2015, and "presenting headwinds for housing." The dollar is nearing a 14-year high

December 21, 2016 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.81% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 21, 2016 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.05 0.00 15 Yr. Fixed 5.81% -0.04 0.00 30 Yr. FHA 6.01% -0.04 0.00 30 Yr. Jumbo 6.30% 0.00 0.00 7/6 SOFR ARM 5.89% -0.06 0.00 30 Yr. VA 6.03% -0.04 0.00 Updates Daily - Last Update: 10/31 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.50 -0.06   95.05 100.11 UMBS 30YR 5.5 101.01 -0.04   97.47 101.40 10 YR Treasury 4.094 +0.018   3.932 4.780 MBS Live Day Ahead: First Econ Data of the Week, Not That it Probably Matters Wed, Dec 21, 2016 8:57AM NOTE: This paragraph will be at the top of the Day Ahead for a few weeks.  Once you've read it, feel free to skip it.  The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerations.  I'll still be doing that, but in posts on MBS Live and under the 'General Commentary' heading (whic... (read more) MBS Live Recap: Recent Range Intact Despite Morning Weakness Tue, Dec 20, 2016 5:28PM The holiday theme continued today, with bonds trading inside the range that's been intact since last week's Fed festivities.   As I'll likely mention a few more times before the end of the year, the lighter volume and liquidity associated with late December trading makes it easier for imbalances to have an effect on trading levels.  That w... (read more) MBS Price Change UMBS 4.5 97.47 -0.10 UMBS 5.0 99.51 -0.06 UMBS 5.5 101.02 -0.04 GNMA 4.5 97.59 -0.06 GNMA 5.0 99.65 -0.08 GNMA 5.5 100.79 -0.03 Pricing as of: 11/3 8:49AM EST US Treasury Yield Change 2 YR Treasury 3.587 +0.014 5 YR Treasury 3.701 +0.017 7 YR Treasury 3.888 +0.015 10 YR Treasury 4.095 +0.019 30 YR Treasury 4.675 +0.022 Pricing as of: 11/3 8:49AM EST Other News Three Rate Hikes in 2017? Fannie Mae Doesn't Think So Wed, Dec 21, 2016 9:28AM Despite the 3.2 percent annualized growth in the GDP in the third quarter, Fannie Mae's economists expect the full-years growth to moderate to less than 2 percent this quarter, finishing at 1.8 percent growth for the year. In the company's December Economic Development summary its Economic and Strategic Research Group (ESR) said their forecast does not inclu... (read more) Existing Sales Best Since Feb 2007; Up 15.4% From Last Year Wed, Dec 21, 2016 11:21AM Existing home sales rose for the third consecutive month in November. The increase was fueled by condo sales and a surge of sales in the Northeast. Two of the four regions saw sales decline. The National Association of Realtors® (NAR) said sales of previously owned single-family houses, condos, townhouses, and cooperative apartments were up 0.7 percent c... (read more) Token Bounce Stops Bleeding in Refinance Applications Wed, Dec 21, 2016 9:22AM Applications for mortgages increased during the week ended December 16, managing to narrowly cling to a gain in activity compared to a year earlier. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, increased 2.5 percent compared to the week ended December 9 on a seasonally adjusted basis. The index was up 2.0... (read more) Fannie and Freddie Updates Including Duty to Serve, Risk Sharing, HARP, HAMP, ULDD, etc. Wed, Dec 21, 2016 9:11AM Hey, don’t know what to get your favorite capital markets guy or gal this year for Christmas? Here's a memorable gift , with a one minute video. Although apps rose slightly last week, folks in the secondary marketing department are wondering if there any pipelines left to sell. And what will pipelines look like after the end of December when the pre-el... (read more) Latest Video Shiller on Trump and market psychology November existing home sales up 0.7% Pisani: Very sloppy action right now Around the Web Calculated Risk Blog A Few Comments on November Existing Home Sales Bloomberg Mnuchin Faces More Heat From Democrats on OneWest Foreclosures Reuters U.S. existing home sales rise to near 10-year high NY Times Robot Revolution: The Long-Term Jobs Killer Is Not China. It's Automation. CNBC AI could boost productivity but increase wealth inequality, the White House says NAR - Realtor.com Foreclosed On? You May Have Unclaimed Cash Waiting for You Market Watch It hasn't been this difficult to get a home loan since 2000 Calculated Risk Blog CoreLogic: "Mortgage loans originated in Q3 continued to exhibit low credit risk" Bloomberg A Billionaire's Plan to House the Homeless in Shipping Containers Reuters Banks loosen lending standards for fourth straight year: U.S. regulator wellsfargo.com Wells Fargo/Gallup Survey: U.S. Investor Optimism Surges on Prospects of a Better Economy NAHB Eye on Housing Absorption Data Indicate Multifamily Market Leveling Off Fannie Mae Confidence Improves at the Prospect of Pro-Growth Policies ...

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