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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
Housing News
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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 per... (read more)
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MBS Commentary
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In the day just passed, we considered a rather melodramatic question ("is it over?"), which refers to the general strength in the bond market seen in August and our ability to maintain (or improve upon) the lowest rates in 3 years. Early weakne... (read more)
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Housing News
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Monday's edition of the Federal Register featured a proposed rule that, depending on your viewpoint, would amend the Department of Housing and Urban Development's (HUD's) interpretation of the Fair Housing Act's disparate impact standard, (HUD) or "m... (read more)
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Rob Chrisman
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Why is a 43% DTI, a line many view as “drawn in the sand,” so critical to the ability of a borrower to repay a loan? What about reserves or utility bill payment? If the borrower is already paying $2,000 a month in rent and their mortgage ... (read more)
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Mortgage Rate Watch
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Mortgage rates mostly held steady today , despite a move higher in broader interest rate indicators like the 10yr Treasury yield. Treasuries and mortgage rates typically track each other quite well, but that relationship has broken down in recent wee... (read more)
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Housing News
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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 ... (read more)
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