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Fannie Mae's economists are predicting that economic growth will slow significantly in the fourth quarter to 1.6 percent. This downward revision however is not as dire as it sounds. The company's October forecast was looking for 1.7 percent growth in the third quarter due to an inventory drawdown from the General Motors strike and general weakness in the manufacturing sector. Instead, the third quarter growth in the real gross domestic product (GDP) came in at 1.9 percent. They now see that expected inventory drawdown materializing in this current quarter and that GDP for the year will be 2.1 percent. The simulative effects of the Budget Act of 2019, improved business investment and continued strength in consumer spending along with a temporary reprieve from trade tensions have moved Fannie
Housing News
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Fannie Mae's economists are predicting that economic growth will slow significantly in the fourth quarter to 1.6 percent. This downward revision however is not as dire as it sounds. The company's October forecast was looking for 1.7 percent growth in... (read more)
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Rob Chrisman
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A pass rate of 51% on July’s California bar exam may not seem like cause for celebration, but it’s the first time in six years that a majority of people who took the July test passed. If the majority of people think that there will be a U... (read more)
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MBS Commentary
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Daily and overnight trading volumes have been declining, and intraday trading ranges have been getting more narrow. The starting point for that trend was the day after November 7th (when all the news hit about tariff roll-backs seemingly being ... (read more)
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Housing News
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All three of the residential construction measures tracked by the U.S. Census Bureau and the Department of Housing and Urban Development roared back in October after posting terrible numbers in September. Construction permits and housing starts moved... (read more)
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Housing News
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Home builder confidence fell back slightly this month, declining by 1 point to 70 in the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The dip partially reversed the index's 3-point jump in October which had car... (read more)
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Mortgage Rate Watch
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Mortgage rates had a great week last week and haven't done anything to jeopardize that so far this week. Today was the first time during these 2 weeks where rates have merely held steady as opposed to move lower. The recent winning streak requires a ... (read more)
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