Like virtually all the experts, including those at the Federal Reserve, Freddie Mac's economists have reduced their expectations for economic growth . The company's March forecast is for growth in the first quarter of 2019 to shrink to 1.2 percent. They do see it regaining its footing later in the year, but it will still decelerate from 2018 to 2.0 percent this year and 1.8 percent in 2020. They blame the first quarter retrenchment on a decline in residential fixed investment, consumer spending, and the effects of the partial government shutdown in January. The economists see a brighter picture for the real estate market , with the significant decline in mortgage rates since last fall being one of the main drivers of improvement. The forecast is for existing home sales to bounce back and trend

March 22, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 22, 2019 Mortgage Rates Move Deeper Into Long-Term Lows Thu, Mar 21, 2019 5:13PM Granted, we're not back to the sub-4% mortgage rates that dominated much of the past 8 years, but breaking into the high 3% range is a valid consideration after the past few days. Yesterday's surprising Fed news hit the rates that were already holding near their lowest levels in well over a year. The net effect has been a decisive break lower with the average lender easily able to offer 4.375% on a typical 30yr fixed scenario. Many lenders are at 4.25%, and the interesting thing about 4.25% is that it currently doesn't cost much more to buy your way down to the next lower rate: 4.125%. All of ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 UMBS 30YR 5.5 101.28 +0.16   97.47 101.61 UMBS 30YR 6.0 102.54 +0.05   99.66 102.54 10 YR Treasury 4.039 -0.047   3.621 4.780 MBS Live Day Ahead: Here's That Mid-March Breakout We Were Looking For Fri, Mar 22, 2019 10:59AM Sometimes a plan comes together and sometimes an educated guess pans out.  While it's never safe to plan on any future reality (other than "uncertainty") when it comes to financial markets, there are times where a certain series of events seem... (read more) MBS Live Recap: Bonds Take a Day to Digest Fed Day as Stocks Finally React Thu, Mar 21, 2019 6:23PM Apparently it took the 9:30am NYSE opening bell ringer for stocks to truly realize what just happened.  The Fed announcement on Wednesday was their way of saying "sorry" to stocks for the "steady as she goes" approach to tighter monetary policy in December.  As of Wednesday the Fed's median outlook for the Fed Funds Rate is now half a point lower ... (read more) MBS Price Change UMBS 5.0 99.78 +0.31 UMBS 5.5 101.28 +0.16 UMBS 6.0 102.54 +0.05 GNMA 5.0 100.07 +0.24 GNMA 5.5 101.19 +0.06 GNMA 6.0 102.18 +0.05 Pricing as of: 9/8 6:21PM EST US Treasury Yield Change 2 YR Treasury 3.487 -0.030 5 YR Treasury 3.562 -0.027 7 YR Treasury 3.768 -0.032 10 YR Treasury 4.039 -0.047 30 YR Treasury 4.690 -0.079 Pricing as of: 9/8 6:21PM EST Other News Freddie Downgrades Economic Forecast but Bullish on Housing Fri, Mar 22, 2019 12:41PM Like virtually all the experts, including those at the Federal Reserve, Freddie Mac's economists have reduced their expectations for economic growth . The company's March forecast is for growth in the first quarter of 2019 to shrink to 1.2 percent. They do see it regaining its footing later in the year, but it will still decelerate from 2018 to 2.0 percent t... (read more) Existing Homes Sales Post Huge February Gain Fri, Mar 22, 2019 11:03AM Existing home sales took off like a rocket in February, with strong results in three of the four major regions. The National Association of Realtors® (NAR) said single-family homes, townhouses, condominiums and cooperative apartments were sold during the month at a seasonally adjusted annual rate of 5.51 million. This is an 11.8 percent increase over the... (read more) Enforcement Action Webinar; Non-QM Snapshot; German 10-year Yield Drops Below 0% Fri, Mar 22, 2019 8:47AM Congrats to former President Jimmy Carter. As of today he is no longer just the oldest living U.S. president, but now is the longest-living in the nation's history. Created in 1986 LIBOR was not around during his presidency, but the transition away from using LIBOR is also making news. The Alternative Reference Rates Committee, a Federal Reserve-backed advis... (read more) 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 Calculated Risk Blog BLS: Unemployment Rates at New Series Lows in Alabama, North Dakota, Tennesse and Vermont CNBC The Fed's policy switch may be too late to save the economy from fading CNBC Mortgage rates are breaking to new lower territory, and they could stay there for months Bloomberg Fed's Pivot Marks a Major Break Bloomberg May Gets Two Week Brexit Delay: Now What? Bloomberg All Signs Point to a Housing Boom Ahead Calculated Risk Blog Comments on February Existing Home Sales Bloomberg Key Part of U.S. Curve Inverts for First Time Since 2007: Chart Bloomberg New Abnormal Marks a Watershed Moment in a Low-Rate World Reuters U.S. existing home sales surge, boosted by Fed's signal on rates NAHB Eye on Housing Builders' Profit Margins Continue to (Slowly) Increase Reuters Trump: China trade deal likely; automakers can avoid tariffs with U.S. plants CNBC Trump says GDP would have topped 4% if Fed had halted rate hikes sooner

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