Forecasts of slowing economic growth have been the norm for some time, but it is easy to sense greater confidence lately among those making them. Fannie Mae's March Economic Developments report is predicting growth will slow from 3.1 percent in 2018 to 2.2 percent over the course of this year. The company's economists see the boost from the Tax Cuts and Jobs Act fading, business investment and consumer spending slowing, and a number of other factors, including several global ones and others related to trade. They also see the risks to their forecast being primarily on the downside, although some of those risks have lessened over the last month. There have been some negative milestones in recent months. Personal consumption expenditures slowed from 3.5 percent in the third quarter to 2.8 percent

March 20, 2019 Download our Mobile App: Download our Mobile App: Housing News Fannie Mae Predicts Slower Growth, Fewer Rate Hikes Forecasts of slowing economic growth have been the norm for some time, but it is easy to sense greater confidence lately among those making them. Fannie Mae's March Economic Developments report is predicting growth will slow from 3.1 percent in 2018 ... (read more) Rob Chrisman Sales, Investor, Construction Products; Servicing Study; Citi's Penalty Why do us capital markets folks seem to speak a different language? To better understand what secondary marketing folks deal with every day, here’s a piece titled, “Best Execution in Mortgage Secondary Markets” for anyone wanting to... (read more) MBS Commentary MBS Live Day Ahead: Fed Announcement: March Madness Edition Today's only key event will be the Fed Announcement , which is actually 3 events in 1.  At 2pm, we'll get the policy announcement itself as well as the Fed's updated economic projections (aka, the "dots").  Then at 2pm, Jerome Powell begin... (read more) Housing News Mortgage Apps: Refinancing Revives as Rates Retreat Mortgage rates continued to slide during the week ended March 15 and the volume of mortgage application activity picked up in response. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan application volume, i... (read more) Housing News Builders Less Concerned about Material Costs One problem solved? Perhaps, but there are always others waiting in line. The National Association of Home Builders (NAHB) asks its new home builder members annually, as part of its January NAHB/Wells Fargo Housing Market Index survey, to name what t... (read more) MBS Commentary MBS Live Commentary: What Changed in The New Fed Statement? Below are the differences in the first paragraph of the current Fed statement as compared to the previous version from January 30th, 2019.  There were no changes beyond the 1st paragraph.  The full statement can be found HERE. Information... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.77% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.77% -0.01 0.00 15 Yr. Fixed 6.03% -0.01 0.00 30 Yr. FHA 6.35% 0.00 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% +0.01 0.00 30 Yr. VA 6.36% 0.00 0.00 Updates Daily - Last Update: 7/22 15 Yr. Fixed Rate 6.03% -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 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.50 -0.01 Price / Yield Change MBS UMBS 5.5 99.50 -0.01 UMBS 6.0 101.36 -0.04 GNMA 5.5 99.72 -0.06 GNMA 6.0 101.28 -0.04 Pricing as of: 7/23 8:26AM EST 10 Year US Treasury 4.3574 +0.0114 Price / Yield Change US Treasury 2 YR Treasury 3.844 +0.015 5 YR Treasury 3.898 +0.013 7 YR Treasury 4.112 +0.014 10 YR Treasury 4.359 +0.013 30 YR Treasury 4.927 +0.010 Pricing as of: 7/23 8:26AM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Reuters Instant View: Steady Fed sees no more hikes in 2019 Reuters Fed holds rates steady, to slow balance sheet reduction CNBC Fed now sees no rate hikes in 2019 NAR - Realtor.com California Has the Jobs but Not Enough Homes NY Times Wall Street Is Betting the Fed's Rate-Raising Days Are Over, for Now Reuters Germany: Expect EU decision on how to proceed with May's Brexit extension on Thursday Calculated Risk Blog AIA: "Billings Moderate in February Following Robust New Year" Bloomberg What to Expect When the Fed Is Expecting Inflation Bloomberg What Europe Should Do About Brexit Bloomberg The Stock and Bond Markets Can't Both Be Right Calculated Risk Blog Lawler: Early Read on Existing Home Sales in February Reuters Hopes of accommodative Fed spur Wall Street to five-month highs Bloomberg Some U.S. Officials See China Walking Back Trade Pledges

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