Realtors are expressing concern over three measures that exist in either the House or the Senate versions of the Republican tax cut bill and have sent a letter to Orrin Hatch (R-UT) and Kevin Brady (R-TX), chairs of the Senate Banking and House Ways and Means Committees respectively, about these issues. The letter was sent as a conference committee is about to begin discussions of changes to the bills that will allow passage of a single version by both side of the Congress. Signed by, current National Association of Realtors (NAR) President Elizabeth Mendenhall, the letter stresses the important of homeownership to the U.S. economy and says the Congress needs to keep in mind where their decisions "can create a tremendously better outcome, not only for current and prospective homeowners, but

December 13, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Dec 13, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Day Ahead: Bonds Navigate Dual Landmines in CPI and Fed Dots Wed, Dec 13, 2017 8:26AM Today brings 2 key developments in the form of the 8:30am CPI data and the afternoon's Fed announcement.  CPI--the Consumer Price Index--was one of the top inflation metrics in terms of market movement.  Like other inflation metrics, it faded into obscurity for post of the decade following the financial crisis.  Markets simply didn't care ab... (read more) MBS Live Commentary: Differences Between Previous and Current FOMC Statements Wed, Dec 13, 2017 2:02PM Information received since the Federal Open Market Committee met in September November indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite rate. Averaging through hurricane-related disruptions. Although the hurricanes caused a drop in payroll employment in September, fluctuati... (read more) MBS Price Change UMBS 5.0 99.52 -0.25 UMBS 5.5 101.15 -0.13 UMBS 6.0 102.46 -0.08 GNMA 5.0 99.87 -0.20 GNMA 5.5 101.11 -0.08 GNMA 6.0 102.09 -0.10 Pricing as of: 9/9 12:03PM EST US Treasury Yield Change 2 YR Treasury 3.537 +0.049 5 YR Treasury 3.605 +0.043 7 YR Treasury 3.809 +0.040 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.732 +0.041 Pricing as of: 9/9 12:03PM EST Other News Realtors Raise Last-Minute Red Flags Over Tax Bill Wed, Dec 13, 2017 1:04PM Realtors are expressing concern over three measures that exist in either the House or the Senate versions of the Republican tax cut bill and have sent a letter to Orrin Hatch (R-UT) and Kevin Brady (R-TX), chairs of the Senate Banking and House Ways and Means Committees respectively, about these issues. The letter was sent as a conference committee is about ... (read more) Fannie and Freddie Will Wait Until Jan 2nd to Evict You Wed, Dec 13, 2017 9:49AM Both Freddie Mac and Fannie Mae announced this week that evictions from foreclosed single-family and two-to-four-unit properties owned by the GSEs will be suspended during the holiday season. The moratorium will begin on December 18 and extend through January 2 of next year. The two companies said that legal and administrative proceedings for evictions can c... (read more) For Purchase Applications, This December is Better Than The Last Wed, Dec 13, 2017 8:30AM Applications for mortgages, both for home purchases and refinancing, declined during the week ended December 8. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, was down 2.3 percent on a seasonally adjusted basis compared to the volume a week earlier. On an unadjusted basis, the Index decreased 4 p... (read more) Lender/Appraiser Product; Investor Disaster Updates; Movement's Penalty Wed, Dec 13, 2017 9:16AM Word on the street has House and Senate negotiators agreeing to scale back the mortgage interest deduction in the latest version of the GOP tax bill. The move means homeowners will now be able to deduct interest on the first $750,000 of a new mortgage, down from the current limit of $1 million. Legislation has been introduced in Congress recommending that th... (read more) Latest Video Yellen: Federal Reserve is not seriously considering a digital currency at ... Yellen: Tax changes likely to provide modest lift to GDP Jeffrey Gundlach: The Fed is 'clearly' going to hike rates Around the Web CNBC Bill Gross: Fed can only hike so much before it 'really starts to bite' housing NAR - Realtor.com Biggest Housing Stories 2017: The News That Rocked the Real Estate World Reuters Fed raises interest rates, keeps 2018 policy outlook unchanged CNBC Fed hikes rates by a quarter point CNBC House, Senate leaders reach tentative deal on sweeping tax package: AP, citing sources Calculated Risk Blog Key Measures Show Inflation Mostly Below Fed's Target CNBC What to expect in Yellen's swan song: 'She's not a showboater' NAHB Eye on Housing State Economies Contribute to Nationwide GDP Growth in Q2 of 2017 Reuters U.S. consumer prices increase, but core CPI moderates CNBC ECB set to lift its growth outlook as massive bond-buying slowly winds down NAHB Eye on Housing Record-Setting Pace of Price Increases Continues CNBC GOP tax bill would include 21% corporate tax rate, would start in 2018: Sources CNBC Mitch McConnell says there's no chance of a government shutdown

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