Fannie Mae's economists have revised a lot of their forecast from last month as new data has come in. The outlook for the 2021 GDP has been revised modestly to 7.1 percent from 7.0 percent on a Q4-over-Q4 basis. The revision was due to data indicating stronger second quarter growth in personal consumption which they expect was driven heavily by inventory restocking and will decelerate significantly in the second half of the year. They also moved the 2022 growth forecast down one-tenth to 2.7 percent and revised upward their inflation forecast. As did the Federal Reserve on Wednesday, Fannie Mae says much of the recent uptick in inflation was transitory , but price pressures are likely to last into 2022. Lagging effects stemming from recent rapid house price growth will generate upwrd pressure

June 21, 2021 Download our Mobile App: Download our Mobile App: Rob Chrisman MLO Jobs; Subservicer, Warehouse, VA, Non-QM Products; PHH/Reverse Mortgage Deal; Economic Trends; Upcoming Events Today I head to Orlando for the Mortgage Bankers Association of Florida 2021 Secondary and Convention (approaching 250 registrants!) The live and in-person events are definitely increasing as we move through 2021. The focus on the first portions of t... (read more) Housing News Inflation Holds Key to Fannie Mae's New Forecast Fannie Mae's economists have revised a lot of their forecast from last month as new data has come in. The outlook for the 2021 GDP has been revised modestly to 7.1 percent from 7.0 percent on a Q4-over-Q4 basis. The revision was due to data indicatin... (read more) Housing News May Housing Starts Post Modest Recovery from April's Slump Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally ... (read more) Mortgage Rates No, Mortgage Rates Aren't Lower Today! 30 Yr. Fixed Rate 6.82% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% +0.03 0.00 15 Yr. Fixed 6.03% +0.04 0.00 30 Yr. FHA 6.35% +0.05 0.00 30 Yr. Jumbo 6.90% +0.03 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.37% +0.06 0.00 Updates Daily - Last Update: 7/11 15 Yr. Fixed Rate 6.03% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries MBS Live Recap: Treasury Trading Trends Coming and Going UMBS 30YR 5.5 99.33 -0.14 Price / Yield Change MBS UMBS 5.5 99.33 -0.14 UMBS 6.0 101.23 -0.03 GNMA 5.5 99.66 -0.18 GNMA 6.0 101.31 -0.07 Pricing as of: 7/13 8:54AM EST 10 Year US Treasury 4.4083 +0.0615 Price / Yield Change US Treasury 2 YR Treasury 3.901 +0.024 5 YR Treasury 3.971 +0.036 7 YR Treasury 4.179 +0.053 10 YR Treasury 4.408 +0.062 30 YR Treasury 4.955 +0.085 Pricing as of: 7/13 8:54AM EST Latest Video The 2pm Bond Report - June 21, 2021 The 9am Bond Report - June 21, 2021 We see 10-year yield at 2% by year-end, says UBS' Alli McCartney Allianz's El-Erian explains market concerns over inflation outlook Around the Web Reuters Analysis: Fed's "big tent" framework may fray under inflation surge Calculated Risk Blog Housing Inventory June 21st Update: Inventory Increased Week-over-week Calculated Risk Blog Housing: A Somewhat Similar Period Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC Here's why the market may be wrong about the Federal Reserve and interest rates Reuters Wall St rebounds after Fed-induced pullback CNBC Market volatility is back as Covid and Fed uncertainty hit sentiment Reuters Stocks clamber up from 4-week lows, dollar eases from 10-week high CNBC 10-year Treasury yield falls to two-month low to start the week Calculated Risk Blog The Housing Conundrum Reuters Investors juggle Fed forecast and post-pandemic recovery as Wall Street dips CNBC Invitation Homes CEO says he's not worried about a housing bubble despite price spikes. Here's why Calculated Risk Blog Q2 GDP Forecasts: Around 10%

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