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Optimism is running high in Fannie Mae's first Economic and Housing Outlook of the year. The company's Economic and Strategic Research (ESR) team says expanding vaccination efforts, the potential of greater than previously expected fiscal stimulus, and the end of winter all "point to an economy ready to take off once COVID-19-related effects begin to subside." The company says that economic growth probably flatlined in November and December and it revised its final GDP estimate for the year down to a negative 2.7 percent. The economy is now poised to expand, although probably not before late spring. The ESR team has raised its expectations for 2121 from 4.5 percent growth in last month's report to 5.3 percent and by 0.4 points for 2022 to 3.6 percent. The Federal Reserve has stated it intends
Housing News
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Optimism is running high in Fannie Mae's first Economic and Housing Outlook of the year. The company's Economic and Strategic Research (ESR) team says expanding vaccination efforts, the potential of greater than previously expected fiscal stimulus, a... (read more)
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Mortgage Rate Watch
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Mortgage rates made more progress today, but only after some drama in the morning. The bond market started the day in weaker territory and many mortgage lenders were offering higher rates as a result. As the day progressed, bonds improved and lenders... (read more)
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Rob Chrisman
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This week Joe Exotic did not receive a presidential pardon, nor did mortgage rates move much versus last week, but there are still over 16 million refinance candidates who meet broad-based eligibility criteria and could also cut their first mortgage ... (read more)
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Housing News
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Mortgage performance understandably deteriorated over the course of 2020. Black Knight, in its "first look" at December data, noted that the year ended with 1.54 million more delinquent mortgages and 1.7 million more that were seriously delinquent th... (read more)
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Housing News
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Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors® (NAR) said sales in the last month of the year rose 0.7 p... (read more)
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MBS Commentary
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Calm Week Ends on an Even Calmer Note
It's rare to see non-holidays Fridays in January be quite as underwhelming as today turned out to be. Bonds remained locked perfectly inside prevailing trends. ... (read more)
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