Mortgage rates improved in a somewhat noticeable way for the first time in weeks following today's policy announcement from the Fed. Actually, to be fair and accurate, rates didn't improve until Fed Chair Powell answered a question about inflation during his press conference, saying the Fed doesn't see inflation "surprising to the upside." That's a fancy way of saying they don't expect inflation to rise any faster than forecasts suggest. Inflation is critical to the Fed's decision-making process--especially because we're currently at an important crossroads. For the first time since before the financial crisis, core inflation stands a chance to make a sustained move up and over the 2% barrier. 2% is generally the line in the sand, above which the Fed is more apt to think about tightening monetary

September 26, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Improve After Fed Announcement Mortgage rates improved in a somewhat noticeable way for the first time in weeks following today's policy announcement from the Fed. Actually, to be fair and accurate, rates didn't improve until Fed Chair Powell answered a question about inflation du... (read more) MBS Commentary MBS Live Day Ahead: Paradoxical Reaction Potential For Today's Fed In trying to put together a chart for this morning, I kept running into a wall.  It had to do with the likely outcomes associated with different Fed forecast scenarios today.  To keep things simple, the 2 scenarios I'm considering are "frie... (read more) Housing News New Home Sales Reverse Course, Ending Two-Month Deficit New Home Sales posted a month-over-month increase for the first time since May according to Wednesday's report from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales in August rose 3.5 percent to a seasonally adjusted ... (read more) Housing News Freddie Mac Portfolio Up 6.1 Percent in August Freddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 6.1 percent in August. The portfolio balance at the end of the period was $2.147 trillion compared to $2.136 trillion at the end of July and $2.052 trilli... (read more) MBS Commentary MBS Live Commentary: Differences Between Previous and Current FOMC Statements Information received since the Federal Open Market Committee met in June August indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in re... (read more) Housing News IRS Slams Door on Property Tax Workarounds One of the more contentious provisions of the 2017 Tax Cuts and Jobs Act (TCJA) was a new ceiling on the SALT deduction. This is the amount taxpayers can deduct on federal tax returns for what is paid in state and local taxes including income, sales,... (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 Dow sells off after Fed news conference Fed's Powell: Housing still more afforable now than before financial crisis Fed's Powell: Our economy is strong but benefits haven't reached all Americ... Around the Web CNBC Fed sounds less aggressive than expected and less confident in long-term growth Reuters Instant view: Analysts react to fed rate hike CNBC Fed's Powell says drop of 'accommodative' does not signal any change in rate hike path CNBC Fed still expects one more rate hike in 2018, three for 2019 Federal Reserve Federal Reserve Board and Federal Open Market Committee release economic projections from the September 25-26 FOMC meeting Federal Reserve Federal Reserve issues FOMC statement NPR House Poised To Pass Spending Bill To Avoid Government Shutdown CNBC Millennials are flocking to cities where they may never be able to afford a home Calculated Risk Blog A few Comments on August New Home Sales CNBC Apartment rents are suddenly rising faster, reversing year-long trend Reuters Canada PM says won't be rushed on NAFTA, new deal not guaranteed Reuters UK faces permanent debate over financial rules after Brexit: lawmaker CNBC New home sales rebound in August, prior months revised lower

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