Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty" that the Federal Reserve's Open Market Committee (FOMC) will raise the fed funds rate at its December meeting. Over two weeks post-election the 10 -year Treasury note surged by over 50 basis points , closing at 2.35 percent on November 18. The increase was driven by higher than expected inflation and anticipation of the FOMC move -the probability of which the futures market was putting at 92 percent. Not only has the likelihood of a December rate hike increased, but expectations for future rate increases have shifted as well. At their last press

December 1, 2016 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 1, 2016 Mortgage Rates Moderately Higher Wed, Nov 30, 2016 4:07PM Mortgage rates rose moderately today, bringing them roughly back in line with Monday's levels. For the record, that leaves us in slightly better shape than last week, which saw the highest rates in more than a year. Today's bond market weakness was driven primarily by the much-anticipated OPEC deal. What is the OPEC deal and why is it impacting mortgage rates? The OPEC deal essentially serves as an agreement among OPEC countries to limit oil production. The goal is to push oil prices higher. Higher oil prices imply higher inflation, and inflation is an enemy to low interest rates. With this lo... (read more) 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 99.57 +0.12   95.05 100.11 UMBS 30YR 5.5 101.08 +0.08   97.47 101.40 10 YR Treasury 4.090 -0.020   3.932 4.780 MBS Live Day Ahead: Bonds Flirt With Highest Yields Since July 2015 Thu, Dec 1, 2016 8:32AM Bond markets begin the day still reeling from yesterday's OPEC-driven rout.  We noted in yesterday's closing commentary that yields bounced on an ominous floor at at 2.35% (10yr yield).  That was ominous because it has been a relevant pivot... (read more) MBS Live Recap: OPEC Deal Blasts Bonds Wed, Nov 30, 2016 5:18PM Today brought the long-awaited and hotly-anticipated conclusion of a deal among OPEC countries to limit oil production.  Constricted supply has one intention: higher prices.  For now, petroleum still fuels trade for the foreseeable future. ... (read more) MBS Price Change UMBS 4.5 97.52 +0.11 UMBS 5.0 99.57 +0.12 UMBS 5.5 101.08 +0.08 GNMA 4.5 97.52 +0.02 GNMA 5.0 99.79 +0.15 GNMA 5.5 100.88 +0.08 Pricing as of: 11/4 7:38AM EST US Treasury Yield Change 2 YR Treasury 3.578 -0.031 5 YR Treasury 3.699 -0.025 7 YR Treasury 3.884 -0.021 10 YR Treasury 4.093 -0.016 30 YR Treasury 4.678 -0.016 Pricing as of: 11/4 7:38AM EST Other News Mortgage Activity Will Be Crushed By Rising Rates -Freddie Mac Wed, Nov 30, 2016 1:35PM Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty" that the Federal Reserve's Open Market Committee (FOMC) will raise the fed funds rate at its December meeting... (read more) Residential Spending Leads Lackluster Construction Report Thu, Dec 1, 2016 11:43AM Construction spending rose only slightly in October, with residential construction coming in stronger than most other sectors. The Census Bureau said overall spending during the month was at a seasonally adjusted annual rate of $1.172 trillion, up 0.5 percent from September. The September total, originally reported as down by 0.4 percent was revised upward a... (read more) UDAAP and Title Webinars; Allied Found Guilty; Lender Rankings Thu, Dec 1, 2016 10:00AM Numbers can be deceiving. U.S. Housing and Urban Development (HUD) Secretary Julián Castro announced that public housing developments in the U.S. will now be required to provide a smoke-free environment f or their residents. Secretary Castro said HUD’s new rule will provide resources and support to more than 3,100 Public Housing Agencies (PHAs) ... (read more) Latest Video Futures Now: 10-Year yield hits new high Trader sees bond rout continuing Bank advocate calls for Dodd-Frank rollback Around the Web HUD FHA LOAN LIMITS TO RISE IN 2017 Calculated Risk Blog Goldman's November NFP Preview NAR - Realtor.com Chicago Expands Program to Sell Residents Vacant Lots for $1 CNBC Trump's Carrier deal aside: Here's why most US factory jobs aren't coming home NAHB Eye on Housing Multifamily Construction Spending Continues Strong Growth Reuters Fed may face unnerving shake-up under Trump administration Reuters Exclusive: ECB to extend asset buys but may signal eventual end CNBC ISM manufacturing index climbs in Nov., construction spending up in Oct. freddiemac.mwnewsroom.com Mortgage Rates Continue Climbing CNBC Heads up homeowners: Mortgage interest deduction on Trump's chopping block Reuters Jobless claims rise to five-month high CFPB Monitor How does the PHH case impact presidential authority to remove Director Cordray? builderonline.com Manhattan Home Sellers Slow Sales Volume With Expectations of 40% Returns

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