Construction spending continued to be lukewarm in September, lagging behind both September 2015 and August 2016. Multi-family construction was among the few bright spots along with a substantial revision of August's totals. Total construction spending during the month was estimated at a seasonally adjusted annual rate of 1.15 trillion , down 0.4 percent from August and 0.2 percent lower than the September 2015 estimate. August's rate however was revised from a loss of 0.7 percent to a 0.5 percent gain. For the year through the end of September total spending is estimated at $863.2 billion, an increase of 4.4 percent over the same period in 2015. Analysts polled by Econoday were looking for a positive number. The range was an increase of 0.2 percent to 0.8 percent with a consensus of 0.6 percent

November 2, 2016 Download our Mobile App: Download our Mobile App: Housing News Multifamily a Bright Spot in Otherwise Lukewarm Construction Spending Construction spending continued to be lukewarm in September, lagging behind both September 2015 and August 2016. Multi-family construction was among the few bright spots along with a substantial revision of August's totals. Total construction spendin... (read more) Rob Chrisman HomeBridge to Buy Prospect - Impact on Non-Bank Lender Rankings; FHA Lender Changes It's a global mortgage market, and this news tidbit caught my eye - reminding us that "a rising tide floats all boats." Virgin Money's Q3 IMS shows continuing growth momentum with gross mortgage lending up 19% y/y in 2016 with £1.3bn of net mor... (read more) MBS Commentary MBS Live Day Ahead: Bond Bounce Beholden to Fed and Election Drama Let's not get too excited, but bonds have begun an attempt to bounce at the higher side of their multi-month trend channel (the "uptrend" leading toward higher rates in linear channel of higher highs and higher lows).  Yields bounced on the up... (read more) Housing News Mortgage Apps Lowest Since Spring as Rates Rise Mortgage applications dropped to their lowest levels since last spring during the week ended October 28. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 1.2 percent on a seasonally un... (read more) Mortgage Rate Watch Mortgage Rates Prefer Politics Over Fed Announcement Mortgage Rates eased just a bit more today, marking the 4th day of relative stability after a sharp rise last Thursday. Although there was a Fed announcement today, and although Fed announcements are typically capable of causing massive market moveme... (read more) MBS Commentary MBS Live Commentary: Differences Between Current and Previous FOMC Statements (additions underlined, deletions struck-through) For immediate release Information received since the Federal Open Market Committee met in July September indicates that the labor market has continued to strengthen and growth of economic acti... (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 98.86 -0.07 Price / Yield Change MBS UMBS 5.5 98.86 -0.07 UMBS 6.0 100.51 -0.05 GNMA 5.5 99.49 -0.08 GNMA 6.0 100.65 -0.06 Pricing as of: 11/15 12:30AM EST 10 Year US Treasury 4.4577 +0.0189 Price / Yield Change US Treasury 2 YR Treasury 4.348 -0.002 5 YR Treasury 4.336 +0.010 7 YR Treasury 4.399 +0.012 10 YR Treasury 4.457 +0.018 30 YR Treasury 4.610 +0.027 Pricing as of: 11/15 12:30AM EST Latest Video December rate hike probability trading at nearly 70% Santelli: Almost doesn't matter what the Fed wants to do Fed: Case for increase continues to strengthen Around the Web CNBC Why the election matters to the Fed, economist says CNBC Fed leaves rates unchanged as all eyes turn toward December Federal Reserve Federal Reserve issues FOMC statement bloombergquint.com The Good News on Jobs Isn't All That Good builderonline.com Median Home Prices for the Best Small Cities in America CNBC Experts: FOMC meeting may hint at a December hike Calculated Risk Blog Update: The Endless Parade of Recession Calls CNBC How housing would fare under Clinton, Trump freddiemac.mwnewsroom.com Freddie Mac AIMI Shows Multifamily Markets Continue to Grow Gallup U.S. Job Creation Index Hovers Near Post-Recession High Bloomberg German Economists Urge EU to Shun Brexit Taboos to Keep U.K. In Market Watch Treasury stands pat on auction sizes this quarter CNBC Private companies created 147,000 jobs in October vs 165,000 jobs expected: ADP

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