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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
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Housing News
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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 E... (read more) |
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Housing News
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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 ... (read more) |
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Housing News
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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, in... (read more) |
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Rob Chrisman
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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... (read more) |
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MBS Commentary
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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 considerati... (read more) |
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MBS Commentary
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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 associat... (read more) |
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