New Data Prompts Freddie Mac to Upgrade Forecast; Rates Hold Near Lows, But That Could Change

Freddie Mac’s May Forecast continues to look for a downward trending interest on the 30-year fixed-rate mortgage. The company’s economists are project an average rate of 4.3 percent this year with a small increase to 4.5 percent in 2020. Coupled with a strong labor market, low unemployment, and “modest” wage growth, this should mean a steadily growing housing market this year. The forecast is for total housing sales, both new and existing, to slightly best the 2018 number of 5.96 million units, rising to 5.98 million. Existing home sales will account for 5.35 million of the total and new home sales for 630,000 units. Sales in 2020 are expected to be even better, at 6.14 million overall. Housing starts will be flat this year , with single-family starts gaining 0.01 million units to 0.88 million
New Data Prompts Freddie Mac to Upgrade Forecast; Rates Hold Near Lows, But That Could Change
New Data Prompts Freddie Mac to Upgrade Forecast; Rates Hold Near Lows, But That Could Change

MBS RECAP: Bonds Skittish After Stocks Find Bottom

Posted To: MBS Commentary

Both stocks and bonds have been edging back into less panicked territory after trade war drama fizzled out last week. In other words, stock prices and bond yields were moving higher together. To be fair, bonds got one last rally push from Italy/EU drama mid-week (stocks didn't care as much about that one). Either way, by the end of last week the worst of the "risk-off" momentum appeared to be over and momentum looked to be shifting back in the other direction. Overnight weakness in equities markets threatened to push bond yields back down and create a green day for rates as opposed to modest weakness implied by the recent trend. But stocks were only ever looking panicked in the overnight and early morning hours. As soon as the 9:30am NYSE session got underway, stocks found their…(read more)

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MBS RECAP: Bonds Skittish After Stocks Find Bottom
MBS RECAP: Bonds Skittish After Stocks Find Bottom

Mortgage Rates Mostly Hold Near Lows, But Things Could Change Tomorrow

Posted To: Mortgage Rate Watch

Mortgage rates moved microscopically higher today, depending on the lender. In terms of underlying movement in the bond market, however, rates should have risen a bit more than they did. This has to do with the timing of the bond market weakness and the amount of movement lenders typically want to see before changing their mortgage rate offerings for the day. Simply put, weaker bonds suggest higher rates, but bonds didn’t weaken fast enough for most lenders to see their “re-price” threshold. All of the above means that most lenders continued to offer rates that were very close to the lowest levels in more than a year. Only a handful of days have been any better, and all of them have occurred in the past 2 months. Much of the credit for the recent drop in rates goes to the well-publicized trade…(read more)

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Mortgage Rates Mostly Hold Near Lows, But Things Could Change Tomorrow
Mortgage Rates Mostly Hold Near Lows, But Things Could Change Tomorrow

Fed to take its cues from the market, says pro

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Sri Kumar, president of Sri-Kumar Global Strategies and Joe Duran, CEO and founding partner with United Capital, join CNBC's "Power Lunch" team to discuss what's happening in the markets and what the Federal Reserve's next move may be.

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Fed to take its cues from the market, says pro
Fed to take its cues from the market, says pro

Millennials in worse financial shape compared to earlier generations

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Dan Primack, Axios business editor, and Ted Rossman, Creditcards.com analyst, join 'The Exchange' to discuss why credit-card delinquency for young borrowers is at an eight-year high.

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Millennials in worse financial shape compared to earlier generations
Millennials in worse financial shape compared to earlier generations

Missed best chance to do something about China by pulling out of TPP: Former Fed vice chair Blinder

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Fed vice chair Alan Blinder joins "Squawk on the Street" to discuss the ongoing trade dispute between China and the U.S., and who stands to be harmed more by recent escalations.

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Missed best chance to do something about China by pulling out of TPP: Former Fed vice chair Blinder
Missed best chance to do something about China by pulling out of TPP: Former Fed vice chair Blinder

New Data Prompts Freddie Mac to Upgrade Their Forecast

Posted To: MND NewsWire

Freddie Mac’s May Forecast continues to look for a downward trending interest on the 30-year fixed-rate mortgage. The company’s economists are project an average rate of 4.3 percent this year with a small increase to 4.5 percent in 2020. Coupled with a strong labor market, low unemployment, and “modest” wage growth, this should mean a steadily growing housing market this year. The forecast is for total housing sales, both new and existing, to slightly best the 2018 number of 5.96 million units, rising to 5.98 million. Existing home sales will account for 5.35 million of the total and new home sales for 630,000 units. Sales in 2020 are expected to be even better, at 6.14 million overall. Housing starts will be flat this year , with single-family starts gaining 0.01 million units to 0.88 million…(read more)

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New Data Prompts Freddie Mac to Upgrade Their Forecast
New Data Prompts Freddie Mac to Upgrade Their Forecast

MBS Day Ahead: Holiday-Shortened Trading Week Promises Little Inspiration

Posted To: MBS Commentary

In the week just past, bonds managed to extend the already unexpected gains that began on May 6th following a sharp escalation in US/China trade war rhetoric. Trade-related news continued to be a market mover throughout that two week period, and markets remain susceptible to "aftershock" headlines. Last Wednesday saw a flare-up in Italy/EU tensions revolving around the country's decision to violate EU budget rules. In general, risks to EU monetary stability are good for the bond market. There was limited economic data throughout the week, but logical reactions in general. That said, the size of the reactions was muted by the market's focus on geopolitical issues. In the week ahead, data will once again be limited with new and existing homes sales reports being the only notable…(read more)

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MBS Day Ahead: Holiday-Shortened Trading Week Promises Little Inspiration
MBS Day Ahead: Holiday-Shortened Trading Week Promises Little Inspiration

Atlanta Fed President Raphael Bostic: I do not expect an imminent rate cut

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Atlanta Fed President Raphael Bostic joins CNBC's Steve Liesman to discuss some big topics including the trade war, monetary policy, the overall economy and more.

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Atlanta Fed President Raphael Bostic: I do not expect an imminent rate cut
Atlanta Fed President Raphael Bostic: I do not expect an imminent rate cut

Training, Reno, Appraisal Products; Compliance Warning; FHFA, Fannie, Freddie News

Posted To: Pipeline Press

Tony H. sent, “A conference is a gathering of people who singly can do nothing, but together can decide that nothing can be done.” Not at this MBA event, right!? Here in New York there’s a lot to talk about. Ellie Mae laying off 10% of its workforce, for example. MERS reporting 19,000 eNotes added to the MERS eRegistry during the first quarter of 2019, more than in all of 2018. At the MBA’s Secondary Conference one topic being batted about is the LTV ratio. Yes, the “lender to vendor” ratio has been sinking over the years as the number of vendors has increased. One-month bank statement programs? Yup, there’re out there. Chase Advantage reminding capital markets folks of 2006 programs & pricing through “access to the private MBS market?”…(read more)

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Training, Reno, Appraisal Products; Compliance Warning; FHFA, Fannie, Freddie News
Training, Reno, Appraisal Products; Compliance Warning; FHFA, Fannie, Freddie News