Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The company's economists, headed by Chief Economist Doug Duncan, upgraded its full year forecast from 2.1 percent to 2.2 percent while at the same time painting a darker picture for the second half of the year. Second quarter growth beat expectations, according to Fannie's August Economic Developments report, largely because of strong consumer spending which is expected to have continued into this quarter. Nonresidential fixed investment and government spending are expected to weaken however, so the third quarter GDP has been downgraded from 1.9 percent to 1.8 percent. The economists continue to believe growth will slow next year, but that forecast has

August 19, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Aug 19, 2019 Mortgage Rate Weirdness May Be Working in Your Favor Today Fri, Aug 16, 2019 3:22PM Things have been weird enough for mortgage rates recently that we were forced to add a " Temporary Note on Mortgage Rate Inconsistency " to our daily coverage recently. It will likely return before too long, but with a few edits for clarity. Edits will also need to account for days like today, which offered a prime example of how the inconsistency can be corrected. There's a decent chance those first 3 sentences are confusing and/or relatively meaningless, so let's change that! Mortgage rates aren't the only rates out there. They exist in an ecosystem with more established players like US Trea... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.80 +0.21   95.05 100.47 UMBS 30YR 5.5 101.21 +0.18   97.47 101.61 10 YR Treasury 4.046 -0.035   3.706 4.780 MBS Live Day Ahead: Is It Over? Mon, Aug 19, 2019 9:24AM In the week just passed, bonds rallied to new long-term low yields before bouncing on Friday.  Hong Kong protests over the weekend kicked things off on a strong note and weak global economic data on Wednesday sparked the next leg of the rally.  Thursday saw more of a momentum/capitulation move without much by way of concrete cause and effect. ... (read more) MBS Price Change UMBS 4.5 97.81 +0.18 UMBS 5.0 99.80 +0.21 UMBS 5.5 101.21 +0.18 GNMA 4.5 98.17 +0.16 GNMA 5.0 100.06 +0.24 GNMA 5.5 101.06 +0.18 Pricing as of: 9/18 7:02AM EST US Treasury Yield Change 2 YR Treasury 3.523 -0.041 5 YR Treasury 3.613 -0.043 7 YR Treasury 3.798 -0.041 10 YR Treasury 4.046 -0.035 30 YR Treasury 4.646 -0.042 Pricing as of: 9/18 7:02AM EST Other News Fannie Mae Predicts Two Additional 2019 Rate Cuts, Here's Why Mon, Aug 19, 2019 12:09PM Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The company's economists, headed by Chief Economist Doug Duncan, upgraded its full year forecast from 2.1 percent to 2.2 percent while at the same time painting a darker picture for the second half of the year. Second q... (read more) New Home Sales Expected to Reflect Interest Rate Trend Fri, Aug 16, 2019 7:15PM New home purchases are expected to be significantly higher in July according to data released by the Mortgage Bankers Association (MBA). Its monthly Builder Application Survey (BAS), indicates that applications for new home purchase mortgages increased by 11 percent month-over-month and were up 3.2 percent from July 2018. These estimates do not include any a... (read more) Builder Confidence is Good, But it Could be Better Fri, Aug 16, 2019 7:17PM The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) moved one point higher this month. However, at 66, NAHB's measure of builder confidence in the new home market stayed within the 64 to 66 range where it has been now for four months. "While 30-year mortgage rates have dropped from 4.1 percent down to 3.6 percent during th... (read more) Trailing Doc and U/W Products; Vendor Trends and News, Capital Markets Mon, Aug 19, 2019 9:10AM Builders can’t complain too much about material prices anymore. Building materials prices rose only 0.7% in July, and are down overall year-over-year. Despite tariffs, softwood lumber prices are down 20% over the past year and other products like gypsum, tar, and asphalt (roofing) have also dropped. Rising home costs are less due to “sticks and b... (read more) Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web consumerfinancemonitor.com Treatment of models under HUD's proposed disparate impact rule: our thoughts Reuters Fed's Rosengren says cutting rates could worsen next downturn: Bloomberg CNBC Powell gets the chance this week to make up with markets after his 'midcycle adjustment' NAHB Eye on Housing New Single-Family Home Size Continues Trending Lower Bloomberg Operation Twist Is Making Comeback as Option for ECB Stimulus - Bloomberg consumerfinancemonitor.com HUD publishes proposed revisions to disparate impact rule CNBC Trump says Fed should cut rates by at least 1% 'with perhaps some quantitative easing' consumerfinancemonitor.com CFPB names private education loan ombudsman Bloomberg Powell's Speech, Germany's Trouble, China Revamps Rates: Eco Day Calculated Risk Blog Phoenix Real Estate in July: Sales up 10% YoY, Active Inventory Down 14% YoY Bloomberg Negative Mortgages Set Another Milestone in No-Rate World Bloomberg Bond Market Is Pushing on a String, Says Arena Management's CEO Bloomberg Powell Likely to Use Jackson Hole to Suggest Fed Ready to Cut

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.