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Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The company's economists, headed by Chief Economist Doug Duncan, upgraded its full year forecast from 2.1 percent to 2.2 percent while at the same time painting a darker picture for the second half of the year. Second quarter growth beat expectations, according to Fannie's August Economic Developments report, largely because of strong consumer spending which is expected to have continued into this quarter. Nonresidential fixed investment and government spending are expected to weaken however, so the third quarter GDP has been downgraded from 1.9 percent to 1.8 percent. The economists continue to believe growth will slow next year, but that forecast has
Housing News
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Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The company's economists, headed by Chief Economist Doug Duncan, upgraded its full year forecast from 2.1 per... (read more)
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Rob Chrisman
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Builders can’t complain too much about material prices anymore. Building materials prices rose only 0.7% in July, and are down overall year-over-year. Despite tariffs, softwood lumber prices are down 20% over the past year and other products li... (read more)
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Mortgage Rate Watch
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Things have been weird enough for mortgage rates recently that we were forced to add a " Temporary Note on Mortgage Rate Inconsistency " to our daily coverage recently. It will likely return before too long, but with a few edits for clarity. Edits wi... (read more)
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Housing News
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New home purchases are expected to be significantly higher in July according to data released by the Mortgage Bankers Association (MBA). Its monthly Builder Application Survey (BAS), indicates that applications for new home purchase mortgages increas... (read more)
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Housing News
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The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) moved one point higher this month. However, at 66, NAHB's measure of builder confidence in the new home market stayed within the 64 to 66 range where it has been ... (read more)
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MBS Commentary
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In the week just passed, bonds rallied to new long-term low yields before bouncing on Friday. Hong Kong protests over the weekend kicked things off on a strong note and weak global economic data on Wednesday sparked the next leg of the rally.&n... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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