Freddie Mac looked at the possible effects of the Tax Cuts and Jobs Act of 2017 in an earlier edition of its Outlook economic forecast. This month it takes that analysis granular - right down to two families, the Smiths and the Johnsons, both in the market to buy a house. The Smiths are a median income family living in Mississippi while the Johnsons are high income earners living in New Jersey. Each family has one kid and each plan to spend four times their income on a home. The Smith's would see little impact from homeownership under the new tax law. Their taxable income would decrease from $17,150 in 2017 to $16,000 in 2018 as the much larger standard deduction makes up for the elimination of or caps on many deductions that might earlier been itemized. The Johnson's on the other hand, see

March 2, 2018 Download our Mobile App: Download our Mobile App: Housing News Tax Law Unlikely to Impact Home Prices Freddie Mac looked at the possible effects of the Tax Cuts and Jobs Act of 2017 in an earlier edition of its Outlook economic forecast. This month it takes that analysis granular - right down to two families, the Smiths and the Johnsons, both in the ... (read more) MBS Commentary MBS Live Day Ahead: Bonds Definitely Scored This Week, But Can They Convert? If 2018 is a football game for bond markets, this week's trading through yesterday afternoon represented our first touchdown (let's not talk about how many the other team has. It's more than 1 though).  Today, then, is our chance to convert... (read more) Mortgage Rate Watch Mortgage Rates Drop to Best Levels in 2 Weeks Mortgage rates moved lower today--somewhat significantly relative to recent examples--ultimately hitting the best levels in more than a week for most lenders. Trump's tariff announcement served as a catalyst for market movement in both stocks and bon... (read more) Housing News Construction Spending Down Despite Increase in Single Family Construction spending stalled in January. Publicly funded spending rose slightly from December but that was offset by reductions in most areas of private construction . Residential construction did remain in the black, due to a slight increase in sin... (read more) MBS Commentary MBS Live Day Ahead: 2nd Day of Powell Testimony. Any More Landmines? This is currently the best week of the year for bond markets.  The same was true of last week in the sense that it was the first time in 2018 that yields ended lower vs the close of the previous week.  While that would be the case yet again... (read more) MBS Commentary MBS Live Recap: Tariff-ic Afternoon For Bond Markets The title is a play on words, you see?  It utilizes the word "tariff," which was the subject of much discussion and market movement today, in designating the terrific performance on the part of bond markets this afternoon.  It's funny. ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.41 -0.10 Price / Yield Change MBS UMBS 5.5 99.39 -0.11 UMBS 6.0 101.30 -0.09 GNMA 5.5 99.63 -0.15 GNMA 6.0 101.25 -0.07 Pricing as of: 7/23 12:54PM EST 10 Year US Treasury 4.3758 +0.0298 Price / Yield Change US Treasury 2 YR Treasury 3.861 +0.032 5 YR Treasury 3.915 +0.030 7 YR Treasury 4.130 +0.032 10 YR Treasury 4.377 +0.031 30 YR Treasury 4.947 +0.030 Pricing as of: 7/23 12:54PM EST Latest Video Tariffs could impact already rising construction costs WaPo's George Will: Wilbur Ross doesn't know much about commerce Tariff adds to market worries Around the Web NAR - Realtor.com New Homes Could Get More Expensive Thanks to New Steel, Lumber Tariffs NPR Report Shows That Morale Among HUD Employees Is At An All-Time Low CNBC Trump made tariff decision in a fit of anger: NBC News Calculated Risk Blog Merrill on Housing Calculated Risk Blog When the Story Changes, Be Alert CNBC Chinese officials urge Trump to not abandon global trade order Reuters Equifax expects net $200 million in breach-related costs in 2018 Freddie Mac Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-730 CNBC Consumer sentiment hits 99.7 in February vs. 99.3 estimate Calculated Risk Blog Zillow Case-Shiller Forecast: More Solid House Price Gains in January CNBC Straight up stupid,' 'incompetent' and 'misguided': Economist Adam Posen rips Trump's tariffs Bloomberg Bank of Japan Will Think About Stimulus Exit Around 2019: Kuroda Bloomberg CBRE Accuses Departed Executive of Stealing Secrets for New Firm

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