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

August 19, 2019 Download our Mobile App: Download our Mobile App: Housing News Fannie Mae Predicts Two Additional 2019 Rate Cuts, Here's Why 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) Rob Chrisman Trailing Doc and U/W Products; Vendor Trends and News, Capital Markets 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) Mortgage Rate Watch Mortgage Rate Weirdness May Be Working in Your Favor Today 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) Housing News New Home Sales Expected to Reflect Interest Rate Trend 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) Housing News Builder Confidence is Good, But it Could be Better 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) MBS Commentary MBS Live Day Ahead: Is It Over? 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) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.02 +0.21 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 6:14PM EST 10 Year US Treasury 4.2290 -0.0523 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 6:14PM 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 consumerfinancemonitor.com Treatment of models under HUD's proposed disparate impact rule: our thoughts Reuters Fed's Rosengren says cutting rates could worsen next downturn: Bloomberg CNBC Powell gets the chance this week to make up with markets after his 'midcycle adjustment' NAHB Eye on Housing New Single-Family Home Size Continues Trending Lower Bloomberg Operation Twist Is Making Comeback as Option for ECB Stimulus - Bloomberg consumerfinancemonitor.com HUD publishes proposed revisions to disparate impact rule CNBC Trump says Fed should cut rates by at least 1% 'with perhaps some quantitative easing' consumerfinancemonitor.com CFPB names private education loan ombudsman Bloomberg Powell's Speech, Germany's Trouble, China Revamps Rates: Eco Day Calculated Risk Blog Phoenix Real Estate in July: Sales up 10% YoY, Active Inventory Down 14% YoY Bloomberg Negative Mortgages Set Another Milestone in No-Rate World Bloomberg Bond Market Is Pushing on a String, Says Arena Management's CEO Bloomberg Powell Likely to Use Jackson Hole to Suggest Fed Ready to Cut

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