"Gig," a term that used to refer mostly to a musician's booking, is now being used to describe a whole sector of the U.S. economy. Fannie Mae defines it, rather narrowly we think, as the on-line, on-demand services such as ride sharing and accommodation, and included questions about it in their Third Quarter National Housing Survey . Fannie Mae says its purpose was to understand the extent to which the gig economy is growing and how it might affect attitudes towards homeownership. The survey found that 16 percent of American adults have provided a service through the gig economy. Seven percent report providing ride sharing and the same percentage have provided "services," most commonly child sitting or handy-man services. Five percent have provided accommodation sharing (i.e. AirBnB type hosting

December 6, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Dec 6, 2017 Mortgage Rates Steady to Lower Tue, Dec 5, 2017 4:58PM Mortgage rates were more intuitive today with most lenders keeping things unchanged at first. This matched the movement in underlying bond markets, where today's trading levels in the morning (when most lenders put out the first rate sheet) were roughly in line with yesterday's. As the day progressed, however, bonds began to improve steadily. This improvement was enough for many lenders to issue positive reprices in the afternoon (i.e. new, lower rates for the day). While every little bit helps, we're only talking about a token change in most cases. The average borrower will see the improvemen... (read more) 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 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 UMBS 30YR 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.046 +0.007   3.621 4.780 MBS Live Day Ahead: This Week's Rally Further Stretches a Bond Market Slingshot Wed, Dec 6, 2017 9:43AM Consolidating, biding time, coiling, storing energy, etc...  Over the years on MBS Live and elsewhere, you may have come into several iterations of this same concept.  It occurs when trading levels (in bonds, stocks, or anything else) had b... (read more) MBS Live Recap: Bonds Rally After Weaker Start Tue, Dec 5, 2017 5:35PM Much like yesterday's session, today saw bond markets begin the day in slightly weaker territory only to rally into slightly stronger territory by the end of the session.  There were no singular, overt market movers, but rather a slow, steady, linear trend throughout the day. ISM Manufacturing did come in slightly weaker than expected, and I wou... (read more) MBS Price Change UMBS 5.0 99.75 -0.03 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.51 -0.03 GNMA 5.0 100.06 -0.02 GNMA 5.5 101.21 +0.02 GNMA 6.0 102.15 -0.03 Pricing as of: 9/9 12:39AM EST US Treasury Yield Change 2 YR Treasury 3.494 +0.007 5 YR Treasury 3.567 +0.006 7 YR Treasury 3.772 +0.004 10 YR Treasury 4.046 +0.006 30 YR Treasury 4.692 +0.002 Pricing as of: 9/9 12:39AM EST Other News Gig Workers Less Enthusiastic About Homeownership Wed, Dec 6, 2017 12:31PM "Gig," a term that used to refer mostly to a musician's booking, is now being used to describe a whole sector of the U.S. economy. Fannie Mae defines it, rather narrowly we think, as the on-line, on-demand services such as ride sharing and accommodation, and included questions about it in their Third Quarter National Housing Survey . Fannie Mae says its purp... (read more) Refi Demand Highest in Months Despite Fairly Flat Rates Wed, Dec 6, 2017 8:34AM There was the usual post-holiday resurgence in the volume of mortgage applications last week, following a subdued level of activity the previous week which was shortened by the Thanksgiving Day observance. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures applications for both refinancing and purchase mortgages, was highe... (read more) Tech Products and a Flattening Yield Curve Wed, Dec 6, 2017 9:17AM How long will venture capital firms enjoy being in a declining margin business like residential lending, historically dominated by individual, family, or employee-owned companies? As rumors and unpublished news swirl about well-known lenders losing agency approval, laying off staff, being acquired, or closing their doors, especially west coast wholesalers, t... (read more) Latest Video Robert Shiller on GOP tax plan and home prices Thousands evacuated as California wildfires grow SunTrust CEO: We want regulations 'tailored to a bank's risk profile' Around the Web CNBC Senate votes to start talks with the House on striking a tax deal Reuters Home Depot sets $15 billion share buyback, investment plan Gallup Impact of Tax Cuts Viewed Mostly Through Partisan Lens CNBC Hot housing stocks are cooling off, and there could be more trouble ahead Reuters Senate poised for vote on tax bill negotiations with House Reuters California fires force evacuation in exclusive L.A. area Calculated Risk Blog 2018 Housing Forecasts consumerfinancemonitor.com Second lawsuit filed challenging Mulvaney's appointment as CFPB Acting Director Freddie Mac Freddie Mac December Insight Calculated Risk Blog Las Vegas Real Estate in November: Sales up Slightly YoY, Inventory down 33% Reuters U.S. unit labor costs decline for two straight quarters Calculated Risk Blog ADP: Private Employment increased 190,000 in November NAHB Eye on Housing Air Conditioning and Heating Systems in New Homes

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