Fannie Mae's economists are predicting that economic growth will slow significantly in the fourth quarter to 1.6 percent. This downward revision however is not as dire as it sounds. The company's October forecast was looking for 1.7 percent growth in the third quarter due to an inventory drawdown from the General Motors strike and general weakness in the manufacturing sector. Instead, the third quarter growth in the real gross domestic product (GDP) came in at 1.9 percent. They now see that expected inventory drawdown materializing in this current quarter and that GDP for the year will be 2.1 percent. The simulative effects of the Budget Act of 2019, improved business investment and continued strength in consumer spending along with a temporary reprieve from trade tensions have moved Fannie

November 19, 2019 Download our Mobile App: Download our Mobile App: Housing News Landlords Helping the Economy for First Time in Nearly 2 Years Fannie Mae's economists are predicting that economic growth will slow significantly in the fourth quarter to 1.6 percent. This downward revision however is not as dire as it sounds. The company's October forecast was looking for 1.7 percent growth in... (read more) Rob Chrisman Training, Marketing, Broker Products; Stocks, Bonds, and Rates A pass rate of 51% on July’s California bar exam may not seem like cause for celebration, but it’s the first time in six years that a majority of people who took the July test passed. If the majority of people think that there will be a U... (read more) MBS Commentary MBS Live Day Ahead: Thanksgiving Week Trading Themes Trying to Show Up Early Daily and overnight trading volumes have been declining, and intraday trading ranges have been getting more narrow.  The starting point for that trend was the day after November 7th (when all the news hit about tariff roll-backs seemingly being ... (read more) Housing News Building Permits Surge to 12-Year High All three of the residential construction measures tracked by the U.S. Census Bureau and the Department of Housing and Urban Development roared back in October after posting terrible numbers in September. Construction permits and housing starts moved... (read more) Housing News Homebuilder Confidence Staying Near Long-Term Highs Home builder confidence fell back slightly this month, declining by 1 point to 70 in the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The dip partially reversed the index's 3-point jump in October which had car... (read more) Mortgage Rate Watch Mortgage Rates Hold Steady Mortgage rates had a great week last week and haven't done anything to jeopardize that so far this week. Today was the first time during these 2 weeks where rates have merely held steady as opposed to move lower. The recent winning streak requires a ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 2:17PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 2:17PM EST Latest Video Renovation cycle hasn't turned, but it is slowing: Home Depot analyst October housing starts rebound, rising 3.8% Housing pressure could be behind Home Depot's earnings miss: Analyst Home Depot earnings: $2.53 a share, vs $2.52 EPS expected Around the Web Bloomberg US, China Explore Tariff Relief Using Failed Proposal From May Reuters U.S. House approves bill to avert government shutdown this week Calculated Risk Blog Sacramento Housing in October: Sales Up 7.1% YoY, Active Inventory DOWN 25% YoY CNBC Renting a single-family house just got more expensive CNBC Elizabeth Warren released a plan to lower the cost of renting a home by 10%here's how Calculated Risk Blog Comments on October Housing Starts CNBC Fed's Williams says rates are 'in the right place' but policy is not set in stone Redfin All-Cash Offers Triple Homebuyer Odds of Winning a Bidding War builderonline.com Voters Express Frustration With Homelessness in California Reuters Home Depot cuts sales goal as online push not delivering as expected Redfin U.S. Home Prices up 5.4% in October Reuters Global economy dodges recession by narrowest of margins: Kemp Reuters U.S. housing finance agency to revisit key Fannie, Freddie capital rule

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