Fannie Mae is predicting a notable slowdown in the growth of the U.S. economy in the first quarter of 2019. They have downgraded their earlier forecast by 0.1 percent to an annualized rate of 1.7 percent, compared to 2.8 percent in the fourth quarter of 2018. For the full year they are looking for growth of 2.2 percent, down from what is expected to be a final rate of 3.1 percent last year. The first quarter forecast from the company's economists reflects expectations that consumer spending has slowed as their confidence in future economic conditions has deteriorated. The economists do think that most of the impact of the partial government shutdown will dissipate by the end of the quarter and the government debt ceiling will be raised in a way that doesn't unduly undermine investor, business

February 22, 2019 Download our Mobile App: Download our Mobile App: Rob Chrisman Broker, Non-QM Products; Lenders and Investors React to VA and FHA Changes In the good news category, we can all knock “lumber prices” off the list as a hindrance to builders. Prices are down 25% in the last year. Is it “easier” to be a builder, or home buyer data source, than a lender? Zillow has fo... (read more) Housing News Fannie Mae Lowers Several Forecasts Fannie Mae is predicting a notable slowdown in the growth of the U.S. economy in the first quarter of 2019. They have downgraded their earlier forecast by 0.1 percent to an annualized rate of 1.7 percent, compared to 2.8 percent in the fourth quarter... (read more) MBS Commentary MBS Live Day Ahead: Fed Hard at Work Dialing in Porridge Temp If you're not familiar with these terms, you'll need the following definitions for today's commentary: hawkish/dovish. The Fed is a key ingredient in the market movement outlook going forward.  This isn't to say that they will decide which way... (read more) Housing News NAR: Home Sales "Likely to Have Reached a Cyclical Low" Existing home sales fell again in January although the decline was a minor one compared to the 6.4 percent drop in December. The National Association of Realtors® (NAR) said sales of single-family homes, townhomes, condominiums and co-ops ticked ... (read more) Mortgage Rate Watch Mortgage Rates Slightly Higher Today Mortgage rates may be close to their lowest levels in more than a year, but they were slightly higher versus yesterday. Yesterday's rates were close enough to 1-year lows that no one would take exception with the claim. That said, rates on January 31... (read more) MBS Commentary MBS Live Recap: Delayed Reaction to Fed Hurts Stocks and Bonds Although today brought the week's most anticipated line-up of economic data as well as overnight headlines on US/China trade agreements, the biggest market mover was yesterday's Fed Minutes.  At the time, I expressed confusion as to why financia... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.84 -0.09 Price / Yield Change MBS UMBS 5.5 98.85 -0.08 UMBS 6.0 100.50 -0.06 GNMA 5.5 99.48 -0.09 GNMA 6.0 100.64 -0.07 Pricing as of: 11/14 10:48PM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.352 +0.002 5 YR Treasury 4.338 +0.012 7 YR Treasury 4.402 +0.015 10 YR Treasury 4.458 +0.019 30 YR Treasury 4.609 +0.026 Pricing as of: 11/14 10:48PM EST Latest Video Tariff impact on home improvement products Fed: FOMC will be patient on rate moves Trade talk is going to take a long time to come to conclusion, says expert Around the Web Calculated Risk Blog Q4 GDP Forecasts: High-1s, Low-2s, 2018 Annual GDP around 2.8% Calculated Risk Blog Fannie and Freddie: Combined REO inventory declined in Q4, Down 21% Year-over-year CNBC Fed's Quarles: We'd 'quickly reassess' balance sheet plan if problems came up Bloomberg Mortgage Sector Boosted Thanks to Low Volatility and Dovish Fed Reuters Fed to keep open mind in review of strategy, tools, Clarida says CNBC The Fed is about to start public sessions on how it can improve policy Reuters Fed says U.S. economy ended 2018 with solid but weakening growth Redfin How to Buy Your First Home Like an Economist NAHB Eye on Housing Reasons Why Home Buyers Move Calculated Risk Blog MBA: The Unemployment Rate and Mortgage Delinquency Rate Reuters A Fed pivot, born of volatility, missteps, and new economic reality CNBC Closely watched Atlanta Fed GDP model now sees growth at just 1.4 percent for fourth quarter NAR - Realtor.com Will Another Downturn Rock the Housing Market?

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