The robust growth in the economy in the second quarter may be the final peak of this expansion according to Fannie Mae's Economic Development Report for September. Initial data indicates the 4.2 percent growth last quarter appears to be moderating to the estimated third quarter gain of 3.2 percent predicted in the August report. All factors considered, including inventory restocking and increased government spending leads Fannie's Economic and Strategic Research Group (ESR) to expect full-year 2018 growth of 3.0 percent before a slowdown to 2.3 percent in 2019 as the fiscal stimulus runs its course. ESR expects consumer spending and business fixed investment growth to moderate but remain at a solid pace but expect that trade will drag on growth. Second quarter growth had benefitted in part

September 17, 2018 Download our Mobile App: Download our Mobile App: Housing News Fannie Thinks Economic Expansion Just Peaked The robust growth in the economy in the second quarter may be the final peak of this expansion according to Fannie Mae's Economic Development Report for September. Initial data indicates the 4.2 percent growth last quarter appears to be moderating to... (read more) Housing News Downpayments Hit Record Levels There were quite a few recent milestones, high and low, noted in the Quarter 2 Residential Property Loan Origination Report from ATTOM Data Solutions. The report covers the 2.09 million 1 to 4 unit residential loans originated during the quarter, an ... (read more) Rob Chrisman Notary Product, New Correspondent Lender; Events and Training for September Given plenty of warning, and evacuations, the deaths in the Southeast from Florence have people wondering, “Why do residents stick around?” It is complicated, ranging from stubbornness to not having enough money to buy gasoline, but this ... (read more) MBS Commentary MBS Live Week Ahead: Lighter Data This Week as Markets Position for Fed Next Week September continues to be an unfriendly month for bonds, marked by an unfriendly trend that has carried yields almost exclusively higher.  Some of the weakness can be chalked up to pent up selling demand that was on hold through the end of Aug... (read more) MBS Commentary MBS Live Recap: September Trend is Not Your Friend August was nice.  September is mean... at least if you're a bond. Investors wanted you in August when it was still unclear whether or not Turkey was going to be a big deal for the global financial system, whether the trade war would spiral... (read more) Mortgage Rate Watch Mortgage Rates Match 7-Year Highs Mortgage rates may have had a fairly bad day last Friday, but today was worse . Today officially saw the average lender back at rates not seen since May 17th, 2018. That date might not seem too far away, but at the time, it marked the highest rates s... (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 99.35 -0.16 Price / Yield Change MBS UMBS 5.5 99.38 -0.13 UMBS 6.0 101.28 -0.11 GNMA 5.5 99.60 -0.17 GNMA 6.0 101.28 -0.05 Pricing as of: 7/23 1:17PM EST 10 Year US Treasury 4.3887 +0.0427 Price / Yield Change US Treasury 2 YR Treasury 3.872 +0.042 5 YR Treasury 3.927 +0.042 7 YR Treasury 4.142 +0.044 10 YR Treasury 4.387 +0.041 30 YR Treasury 4.955 +0.039 Pricing as of: 7/23 1:17PM EST Latest Video Trump to announce China tariffs after market close Assessing economic impact of Hurricane Florence Flood is not covered by most insurers, says Sandler O'Neill's Newsome Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in August Bloomberg Pimco's Kiesel Sees 10-Year Yield Anchored as Growth Slows Calculated Risk Blog Hotels: Occupancy Rate Declines Year-over-year NAR - Realtor.com Mobile Home Values Might Rise as Fast as Regular HomesHere's Why That Matters consumerfinancemonitor.com Senate Banking Committee to hold Sept. 18 fintech hearing Bloomberg San Francisco Fed Pick's Research, From Wages to Growth CNBC Goldman Sachs: Little sign of a recession for the next 3 years CNBC Storm Florence to benefit home improvement retailer sales including Lowe's: Jefferies Calculated Risk Blog LA area Port Traffic in August NAHB Eye on Housing Western and Southern States Posts Single-Family Residential Permits Growth Calculated Risk Blog Fom the NY Fed: Manufacturing "Business activity continued to grow at a solid clip in New York State" Bloomberg Why Carney's 35% No-Deal UK Housing Crash Is Overkill NAR - Realtor.com The Best Places to Live in America, 2018: Revenge of the Burbs!

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