Construction spending was lower on a month-over-month basis in October, but an increase in public sector spending held the overall decline to a minimum. The U.S. Census Bureau said that total expenditures on spending nationwide was at a seasonally adjusted annual rate of $1.309 trillion, down 0.1 percent from the revised (from $1.330 trillion) September rate of 1.311 trillion. Overall spending has been relatively flat for some months, but spending is up year-over-year by 4.9 percent. On a non-adjusted basis total spending was $117.333 billion during the month compared to $117.898 in September. For the year-to-date (YTD) through October total spending of $1.044 trillion is 5.1 percent higher than through the first 10 months in 2017. Private sector spending was at $998.692 on a seasonally adjusted

December 3, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for Dec 3, 2018 November Was a Great Month For Mortgage Rates Fri, Nov 30, 2018 3:02PM Mortgage rates may have ebbed slightly higher today, but that only erased a fraction of the improvement seen over the past 2 days. Combined with the even stronger showing 2 weeks ago, this makes November the best month of 2018 in terms of mortgage rate improvement. All of the good times come with a price , however, as the first few days of the month saw rates move to their highest levels in more than 7 years. Nonetheless, anyone in the market to buy or refi has seen a meaningful improvement over the past 3 weeks. How meaningful is meaningful? Assuming a loan amount of $300,000, the average mor... (read more) Mortgage Rates Now at 2-Month Lows Mon, Dec 3, 2018 4:16PM Mortgage rates didn't really improve today for the average lender, but they did manage to hit the lowest rates in 2 months on a technicality. The reason for this is simple. There was a big gap between the rates seen on October 2nd and October 3rd. Rates merely had to hold steady today in order to earn the "2-month" title. Despite the absence of mortgage rate movement, there were s ome encouraging developments behind the scenes. When it comes to rates, 'behind the scenes' refers to trading in the bond market, and bonds managed to scratch out a solid day after starting out on weaker footing. Typ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.96 +0.00   95.05 100.50 UMBS 30YR 5.5 101.27 +0.04   97.47 101.61 10 YR Treasury 4.022 -0.009   3.643 4.780 MBS Live Recap: Bonds End November on Strong Note Fri, Nov 30, 2018 4:06PM In and of itself, today's trading session wasn't anything special.  There wasn't much by way of economic data (just Chicago PMI, which fell on deaf ears) or scheduled events (several Fed speakers, but no market moving comments).  Rather, bond traders were left to simply put in any remaining month-end trades and then hit cruise control. That res... (read more) MBS Live Day Ahead: First Week of The Rest of The End of The Year Mon, Dec 3, 2018 8:57AM Much like the person on a journey of self-improvement might hear a trite pep talk about today being the first day of the rest of their life, bond markets are facing a similar opportunity.  They too have been a journey of self improveme... (read more) MBS Price Change UMBS 4.5 98.04 0.00 UMBS 5.0 100.00 +0.04 UMBS 5.5 101.28 +0.05 GNMA 4.5 98.22 +0.06 GNMA 5.0 100.26 +0.06 GNMA 5.5 101.13 -0.07 Pricing as of: 9/17 10:15AM EST US Treasury Yield Change 2 YR Treasury 3.515 +0.011 5 YR Treasury 3.593 +0.007 7 YR Treasury 3.776 +0.004 10 YR Treasury 4.024 -0.007 30 YR Treasury 4.630 -0.022 Pricing as of: 9/17 10:15AM EST Other News Public Spending Buoys October Construction Numbers Mon, Dec 3, 2018 12:22PM Construction spending was lower on a month-over-month basis in October, but an increase in public sector spending held the overall decline to a minimum. The U.S. Census Bureau said that total expenditures on spending nationwide was at a seasonally adjusted annual rate of $1.309 trillion, down 0.1 percent from the revised (from $1.330 trillion) September rate... (read more) Sales Jobs and Promotions; Education Products; Bond Market Watching Jobs and China Mon, Dec 3, 2018 8:49AM I admit that I’ve become jaded over the years. Another potential government shutdown comes and goes. As always, our industry, and more importantly those with insurance, must deal with the potential uncertainty of the flood insurance program ( NFIP ) being caught up in the budget negotiating. So late last week we received, not a one-year extension, not ... (read more) Latest Video Mnuchin says Fed chair Powell has a difficult job Trade war ceasefire is an 'inflection point', says Snap-On CEO Will Trump-Xi meeting yield trade agreement? Experts weigh in Around the Web Bloomberg Wednesday's US Economy Data Delayed, Powell Hearing Canceled CNBC December is usually the slowest month for home sales, but that might not be the case this year Brookings Institution Quantitative easing lowered interest rates. Why isn't quantitative tightening lifting them more? Reuters U.S. credit demand declines, rejection rates rise: NY Fed survey CNBC Fed's Quarles: Fed watching data but will not react to 'every wavering' NAHB Eye on Housing Most Homes For-Sale are Unaffordable to Most People Calculated Risk Blog ISM Manufacturing index increased to 59.3 in November Bloomberg Fed's Clarida Says US Economy in Good Shape, Outlook Solid builderonline.com The Day After Christmas is the Best Day to Buy a House CNBC Mnuchin says Trump 'liked' Fed chief Powell's speech that boosted markets last week CNBC Fed's Clarida says the current framework is serving the Fed well NAR - Realtor.com The Housing Slowdown Is Hereand These 10 Cities Are Getting Hit Hardest Calculated Risk Blog Q4 GDP Forecasts

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