Construction spending in August came in a little higher than expected, posting the first increase in three months. Unlike housing starts and completions, national spending did not seem affected by Hurricane Harvey. The U.S. Census Bureau said total construction spending for the month was at a seasonally adjusted annual rate of $1.22 billion, an increase of 0.5 percent from the revised estimate of $1.21 billion in July and 2.5 percent ahead of spending in August 2016. Analysts were expecting an increase in spending of 0.3 percent on a month-over-month basis. Predictions among those polled by Econoday ranged from -0.1 percent to 0.5 percent. On a non-adjusted basis, total spending for the month was estimated at 112.84 billion, up from $111.61 billion in July. For the first eight months of the

October 2, 2017 Download our Mobile App: Download our Mobile App: Housing News Construction Spending Up for First Time in Three Months Construction spending in August came in a little higher than expected, posting the first increase in three months. Unlike housing starts and completions, national spending did not seem affected by Hurricane Harvey. The U.S. Census Bureau said total c... (read more) Housing News Harvey and Irma - Different Storms, Different Potential for Mortgage Losses Even though Hurricane Harvey didn't hit the Houston area until very late in August, its effects are already being felt on mortgage performance. Black Knight's Mortgage Monitor for August, released on Monday, reports that, in the Federal Emergency Man... (read more) Rob Chrisman Lender Appraisal Changes; Freddie and Fannie Updates Freddie Mac is re-imagining the Mortgage Experience to create a smarter, simpler, and less costly origination process. We're using big data and advanced analytics to offer an automated alternative to an appraisal through our new automated collateral ... (read more) MBS Commentary MBS Live Week Ahead: October Begins With a Reminder About The Trend The current trend in bond markets is not your friend.  While it may sound trite, there's a reason we say "the trend is not your friend until it's your friend again."  This analytical platitude isn't just meaningless common sense.  It's... (read more) Mortgage Rate Watch Mortgage Rates Back Down From 2-Month Highs Mortgage rates moved lower today, even though underlying bond markets (which ultimately drive rates) suggested a move higher. This happens from time to time and it's usually a factor of timing. Today is no different. Bond markets were improving throu... (read more) MBS Commentary MBS Live Recap: Strong Start, Weak Finish on Fed Musical Chairs and Month End The music is currently playing for the role of Fed Chair next year.  When the music stops, Yellen may or may not still have a seat.  News came out this morning that Trump was meeting with former Fed governor Kevin Warsh about filling the ... (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: 7/3 11:46PM 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: 7/3 11:46PM EST Latest Video Kevin Warsh: The frontrunner for the Fed chair job September ISM manufacturing index beats expectations at 60.8 Rents are not sustainable for some retailers: Mariposa Capital CEO Around the Web CNBC Homebuilder to help young people pay student loans and buy a homebut is it a good idea? builderonline.com Invitation Homes Suffers Millions in Damage from Hurricane Irma NAR - Realtor.com Fastest and Slowest Growing Cities Market Watch Former Equifax CEO apologizes for data breach in congressional testimony Bloomberg Manhattan Condos Are Barely Yielding More Than Government Treasuries NAHB Eye on Housing Most Local Economies Grew At A Slower Pace In Q1 2017 consumerfinancemonitor.com CFPB "Can Improve" Recordkeeping and Notifications of Purpose in Civil Investigative Demands, OIG Finds Market Watch Bond Report: Treasury yields see muted action after better-than-expected manufacturing data Market Watch The Fed: Fed's Kashkari prefers no more rate hikes until inflation hits 2% target CNBC ISM manufacturing index hits 60.8 in September; construction spending up 0.5% in August CNBC Favorite to be Fed chair pick believes US central bank is slave of the S&P' Freddie Mac The Bad Doesn't Outweigh the Good Calculated Risk Blog Black Knight Mortgage Monitor: "350,000 in Hurricane Irma Disaster Areas Have Negative or Limited Equity"

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