Fannie Mae jumped up its forecast for real GDP on a Q4/Q4 basis this week, revising it from 4.8 percent in last month's report to 5.5 percent. The company's economists said they believe this strength partially reflects a pulling forward of growth from 2022, so their estimate for next year has been revised downward by a half point to 3.2 percent. They also said that incoming data for both economic growth and home sales for 2021 were stronger than anticipated. "We continue to expect both to decelerate, but our prior call on the timing appears to have been premature," the December report says. Existing home sales moved higher in October, increasing 0.8 percent to an annualized 6.34 million units. Pending sales, a leading indicator of existing sales, rose 7.5 percent and purchase mortgage applications

December 20, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.34% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.32% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 20, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.34% +0.06 0.00 15 Yr. Fixed 5.82% +0.01 0.00 30 Yr. FHA 6.06% +0.05 0.00 30 Yr. Jumbo 6.32% +0.02 0.00 7/6 SOFR ARM 5.98% +0.09 0.00 30 Yr. VA 6.08% +0.05 0.00 Updates Daily - Last Update: 11/3 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.45 -0.11   95.05 100.11 UMBS 30YR 5.5 101.02 -0.04   97.47 101.40 10 YR Treasury 4.111 +0.036   3.932 4.780 MBS Price Change UMBS 4.5 97.40 -0.16 UMBS 5.0 99.48 -0.09 UMBS 5.5 101.02 -0.03 GNMA 4.5 97.43 -0.22 GNMA 5.0 99.74 +0.01 GNMA 5.5 100.85 +0.03 Pricing as of: 11/3 2:57PM EST US Treasury Yield Change 2 YR Treasury 3.605 +0.031 5 YR Treasury 3.719 +0.036 7 YR Treasury 3.903 +0.030 10 YR Treasury 4.110 +0.034 30 YR Treasury 4.692 +0.039 Pricing as of: 11/3 2:57PM EST Other News Home Sales Forecast Surges as Fannie Mae Revises Timelines Mon, Dec 20, 2021 1:35PM Fannie Mae jumped up its forecast for real GDP on a Q4/Q4 basis this week, revising it from 4.8 percent in last month's report to 5.5 percent. The company's economists said they believe this strength partially reflects a pulling forward of growth from 2022, so their estimate for next year has been revised downward by a half point to 3.2 percent. They also sa... (read more) Investors are Flipping More, Profiting Less Fri, Dec 17, 2021 2:56PM Even as home prices rise into the stratosphere home flipping remains an active endeavor, accounting for just under 6 percent of all home sale transactions in the third quarter of this year. A flip is defined as any arms-length transaction during the quarter within 12 months of a previous arms-length transaction on the same property. ATTOM says there were 94,... (read more) Sales, Tech, VOE Tools; Freddie and Fannie Changes Continue; Omicron and Mortgage Rates Mon, Dec 20, 2021 10:52AM W.C. Fields said, “Money will not buy happiness, but it will let you be unhappy in nice places.” Unfortunately, many people have much less of it, and here’s a quiz to start the week. What are -68 percent, -66 percent, -60 percent, -40 percent, -13 percent, and -2 percent? They are all the stock performance since their initial public offerin... (read more) Latest Video The 2pm Bond Report - December 20, 2021 Domestic holiday travel remains strong despite omicron variant The 9am Bond Report - December 20, 2021 European nations impose new restrictions to stem Covid surge Around the Web CNBC Home flipping is getting more competitive and less profitable Calculated Risk Blog Review: Ten Economic Questions for 2021 CNBC SALT deduction relief may be in peril as Build Back Better stalls CFPB CFPB and DOJ Put Landlords and Mortgage Servicers on Notice About Servicemembers' and Veterans' Rights Calculated Risk Blog Housing Inventory December 20th Update: Inventory Down 3.9% Week-over-week Redfin Rental Market Tracker: Rents Jumped 7% in a Month, Up 21% From 2020 Redfin November Marked a New Low for Home Supply Calculated Risk Blog Seven High Frequency Indicators for the Economy Reuters Schumer says Senate to vote on Biden plan despite Manchin objections CNBC U.S. Treasury yields tick lower on fears omicron will dent recovery CNBC World Economic Forum postpones Davos meeting on Covid uncertainty CNBC Goldman cuts GDP forecast after Sen. Manchin says he won't support Biden's 'Build Back Better' plan National Associattion of Realtors Commercial Weekly: Retail Asking Rents Continue to Increase, Increasing Most in Midwestern Southwestern and Southern Metros

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