We started this piece by noting that Freddie Mac's economists wrapped up November in an unusually brief summary. Then we realized we had said almost exactly the same thing about the company's Economic and Strategic Research (ESR) Group's report last month. November's, however, was even shorter. Should we conclude that, if no news is good news, things are getting better and better? Perhaps not, but the economy does seem relatively stable. The summary noted that the 10-year Treasury Note featured the highest yields since July, largely because investors were growing optimistic that the U.S. and China might get a trade deal. But the market was also extremely volatile during the month as those hopes waned. The second week of November saw the 10-year Treasury yield plummet by nearly 15 basis points

December 2, 2019 Download our Mobile App: Download our Mobile App: Housing News Freddie Mac Predicts Lower Rates in the Next Two Years We started this piece by noting that Freddie Mac's economists wrapped up November in an unusually brief summary. Then we realized we had said almost exactly the same thing about the company's Economic and Strategic Research (ESR) Group's report last ... (read more) Mortgage Rate Watch Mortgage Rates Up To 2-Week Highs Mortgage rates increased moderately to begin the new week/month and had been increasing in general during the previous week. The net effect is some lenders are quoting rates that are an eighth of a point higher compared to those seen at the beginning... (read more) Rob Chrisman HELOC, Marketing, Training Products; Robots at HUD? Did your company make any money in the 3rd quarter? I hope so, and I hope the 4th quarter is looking bright as well. (Just like I hope that MLOs on your staff are funding lots of loans, because if they aren’t, time to train them or let them exc... (read more) MBS Commentary MBS Live Recap: Bumpy Start For Bonds in December As the bond market shook off the holiday weekend lethargy and metaphorically (and literally) returned to the office, it was met with an immediate barrage of selling triggers .  Stronger Chinese data and an absence of trade deal escalation pushe... (read more) Housing News Construction Spending up 1.1% YoY, Private Sector Losing Momentum The nation's total spending on construction projects was at a seasonally adjusted annual rate of $1.291 trillion in October, 1.1 percent higher than a year earlier, but down 0.8 percent from the seasonally adjusted total in September of $1.301 trilli... (read more) Housing News Refinancing Share of Freddie's Volume Soared in October Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 3.0 percent in October, down from 10.7 percent the previous month. The portfolio balance at the end of the period was $2.301 trillion compared to $2.2... (read more) Mortgage Rates Mortgage Rates Up To 2-Week Highs 30 Yr. Fixed Rate 6.29% -0.16% Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% -0.16 0.00 15 Yr. Fixed 5.60% -0.21 0.00 30 Yr. FHA 5.95% -0.08 0.00 30 Yr. Jumbo 6.25% -0.15 0.00 7/6 SOFR ARM 5.59% -0.21 0.00 30 Yr. VA 5.97% -0.08 0.00 Updates Daily - Last Update: 9/5 15 Yr. Fixed Rate 5.60% -0.21% Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 MBS / Treasuries MBS Live Recap: Bumpy Start For Bonds in December UMBS 30YR 5.5 101.13 +0.32 MBS Price Change UMBS 5.0 99.47 +0.46 UMBS 5.5 101.13 +0.32 UMBS 6.0 102.48 +0.16 GNMA 5.0 99.83 +0.48 GNMA 5.5 101.13 +0.25 GNMA 6.0 102.13 +0.03 Pricing as of: 9/7 6:44AM EST 10 Year US Treasury 4.0867 -0.0711 US Treasury Yield Change 2 YR Treasury 3.517 -0.072 5 YR Treasury 3.589 -0.055 7 YR Treasury 3.800 -0.061 10 YR Treasury 4.087 -0.071 30 YR Treasury 4.770 -0.090 Pricing as of: 9/7 6:44AM EST Latest Video Odds of US-China trade deal 60/40: Center on Budget and Policy fellow Markets have priced in good economic news, says RBC's Lori Calvasina November ISM manufacturing index, construction spending misses expectations Additional tariffs the biggest market risk, says Hennion and Walsh CIO Around the Web Calculated Risk Blog Update: Framing Lumber Prices Up Year-over-year NAHB Eye on Housing Gain for Construction Loan Volume During Third Quarter CNBC That big fourth-quarter growth scare looks like it's not happening Reuters As Trump heads to London for NATO summit, warnings on British election CNBC November's ISM manufacturing index is 48.1, a worse-than-expected contraction Reuters Surprise German SPD leadership choice kicks bond yields to near 3-week high Bloomberg Global Manufacturing Shows Some Green Shoots as 2019 Winds Down Reuters Retailers see biggest-ever Cyber Monday after record online Black Friday Calculated Risk Blog Q4 GDP Forecasts: 0.8% to 2.0% Calculated Risk Blog STR: Hotel RevPAR "Upcycle Over" Bloomberg ECB's Board Nominees Back Negative Rates, Warn of Side Effects NAHB Eye on Housing Share of New Homes with Decks Declines in 2018 CNBC The current bond yield stagnation mirrors late-1800s 'long depression,' economist suggests

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