Freddie Mac looked at the possible effects of the Tax Cuts and Jobs Act of 2017 in an earlier edition of its Outlook economic forecast. This month it takes that analysis granular - right down to two families, the Smiths and the Johnsons, both in the market to buy a house. The Smiths are a median income family living in Mississippi while the Johnsons are high income earners living in New Jersey. Each family has one kid and each plan to spend four times their income on a home. The Smith's would see little impact from homeownership under the new tax law. Their taxable income would decrease from $17,150 in 2017 to $16,000 in 2018 as the much larger standard deduction makes up for the elimination of or caps on many deductions that might earlier been itemized. The Johnson's on the other hand, see

March 2, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Mar 2, 2018 Mortgage Rates Drop to Best Levels in 2 Weeks Thu, Mar 1, 2018 5:40PM Mortgage rates moved lower today--somewhat significantly relative to recent examples--ultimately hitting the best levels in more than a week for most lenders. Trump's tariff announcement served as a catalyst for market movement in both stocks and bonds (which underlie mortgage rates). Investors currently view the proposed tariffs as something that would do more harm than good for the overall economy. Economic growth generally corresponds with rising rates, so anything that calls it into question can have the opposite effect. It's too early, at the point, to know if the tariff-related news will... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 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 5.5 101.26 +0.13   97.47 101.61 UMBS 30YR 6.0 102.53 +0.05   99.66 102.53 10 YR Treasury 4.048 -0.039   3.621 4.780 MBS Live Day Ahead: Bonds Definitely Scored This Week, But Can They Convert? Fri, Mar 2, 2018 9:25AM If 2018 is a football game for bond markets, this week's trading through yesterday afternoon represented our first touchdown (let's not talk about how many the other team has. It's more than 1 though).  Today, then, is our chance to convert... (read more) MBS Live Day Ahead: 2nd Day of Powell Testimony. Any More Landmines? Thu, Mar 1, 2018 9:26AM This is currently the best week of the year for bond markets.  The same was true of last week in the sense that it was the first time in 2018 that yields ended lower vs the close of the previous week.  While that would be the case yet again... (read more) MBS Live Recap: Tariff-ic Afternoon For Bond Markets Thu, Mar 1, 2018 6:14PM The title is a play on words, you see?  It utilizes the word "tariff," which was the subject of much discussion and market movement today, in designating the terrific performance on the part of bond markets this afternoon.  It's funny.  But you know what's not funny?  Using the word "utilize" too much.  That's one of those words peop... (read more) MBS Price Change UMBS 5.0 99.74 +0.27 UMBS 5.5 101.27 +0.15 UMBS 6.0 102.53 +0.05 GNMA 5.0 100.09 +0.27 GNMA 5.5 101.22 +0.09 GNMA 6.0 102.16 +0.02 Pricing as of: 9/8 4:52PM EST US Treasury Yield Change 2 YR Treasury 3.495 -0.023 5 YR Treasury 3.567 -0.022 7 YR Treasury 3.772 -0.029 10 YR Treasury 4.043 -0.044 30 YR Treasury 4.687 -0.082 Pricing as of: 9/8 4:52PM EST Other News Tax Law Unlikely to Impact Home Prices Fri, Mar 2, 2018 12:11PM Freddie Mac looked at the possible effects of the Tax Cuts and Jobs Act of 2017 in an earlier edition of its Outlook economic forecast. This month it takes that analysis granular - right down to two families, the Smiths and the Johnsons, both in the market to buy a house. The Smiths are a median income family living in Mississippi while the Johnsons are high... (read more) Construction Spending Down Despite Increase in Single Family Thu, Mar 1, 2018 11:41AM Construction spending stalled in January. Publicly funded spending rose slightly from December but that was offset by reductions in most areas of private construction . Residential construction did remain in the black, due to a slight increase in single-family building. Total construction spending was at a seasonally adjusted annual rate of $1.263 trillion, ... (read more) Latest Video Tariffs could impact already rising construction costs WaPo's George Will: Wilbur Ross doesn't know much about commerce Tariff adds to market worries Around the Web NAR - Realtor.com New Homes Could Get More Expensive Thanks to New Steel, Lumber Tariffs NPR Report Shows That Morale Among HUD Employees Is At An All-Time Low CNBC Trump made tariff decision in a fit of anger: NBC News Calculated Risk Blog Merrill on Housing Calculated Risk Blog When the Story Changes, Be Alert CNBC Chinese officials urge Trump to not abandon global trade order Reuters Equifax expects net $200 million in breach-related costs in 2018 Freddie Mac Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-730 CNBC Consumer sentiment hits 99.7 in February vs. 99.3 estimate Calculated Risk Blog Zillow Case-Shiller Forecast: More Solid House Price Gains in January CNBC Straight up stupid,' 'incompetent' and 'misguided': Economist Adam Posen rips Trump's tariffs Bloomberg Bank of Japan Will Think About Stimulus Exit Around 2019: Kuroda Bloomberg CBRE Accuses Departed Executive of Stealing Secrets for New Firm

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