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Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty" that the Federal Reserve's Open Market Committee (FOMC) will raise the fed funds rate at its December meeting. Over two weeks post-election the 10 -year Treasury note surged by over 50 basis points , closing at 2.35 percent on November 18. The increase was driven by higher than expected inflation and anticipation of the FOMC move -the probability of which the futures market was putting at 92 percent. Not only has the likelihood of a December rate hike increased, but expectations for future rate increases have shifted as well. At their last press
Housing News
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Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty"... (read more)
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Housing News
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Construction spending rose only slightly in October, with residential construction coming in stronger than most other sectors. The Census Bureau said overall spending during the month was at a seasonally adjusted annual rate of $1.172 trillion, up 0.... (read more)
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MBS Commentary
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Bond markets begin the day still reeling from yesterday's OPEC-driven rout. We noted in yesterday's closing commentary that yields bounced on an ominous floor at at 2.35% (10yr yield). That was ominous because it has been a relevant pivot... (read more)
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Rob Chrisman
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Numbers can be deceiving. U.S. Housing and Urban Development (HUD) Secretary Julián Castro announced that public housing developments in the U.S. will now be required to provide a smoke-free environment f or their residents. Secretary Castro s... (read more)
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Mortgage Rate Watch
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Mortgage rates rose moderately today, bringing them roughly back in line with Monday's levels. For the record, that leaves us in slightly better shape than last week, which saw the highest rates in more than a year. Today's bond market weakness was d... (read more)
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MBS Commentary
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Today brought the long-awaited and hotly-anticipated conclusion of a deal among OPEC countries to limit oil production. Constricted supply has one intention: higher prices. For now, petroleum still fuels trade for the foreseeable future. ... (read more)
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