Vital Statistics:
Last | Change | |
S&P Futures | 2179.0 | -3.0 |
Eurostoxx Index | 340.7 | -0.1 |
Oil (WTI) | 47.8 | -1.0 |
US dollar index | 85.7 | 0.2 |
10 Year Govt Bond Yield | 1.56% | |
Current Coupon Fannie Mae TBA | 103.3 | |
Current Coupon Ginnie Mae TBA | 104.2 | |
30 Year Fixed Rate Mortgage | 3.5 |
Fannie Mae is forecasting the Fed will maintain rates throughout 2016, and they believe the economy will strengthen. “Second quarter growth was a disappointment, but consumer spending appears solid heading into Q3, and we expect inventory investment to balance out after a surprising drawdown in Q2,” said Fannie Mae Chief Economist Doug Duncan. “Credit expansion, combined with improving labor market conditions and strengthening household balance sheets, should continue to support consumers, who will likely be the primary driver of growth again in the second half of the year. The positive July jobs report may encourage some Federal Open Market Committee members to argue for a Fed rate hike at the September meeting. However, we remain convinced that the Fed will hold the target rate steady this year given global uncertainties and anemic output growth. Although much of the financial volatility from Brexit has subsided, long-term Treasury yields continue to face downward pressure and we expect them to remain low for some time.”
More from Fannie on the housing market: “Housing market fundamentals remain a mixed bag. During the second quarter of 2016, both new and existing home sales rose to expansion highs, while single-family starts pulled back, remaining historically low for an expansion,” said Duncan. “Tight housing inventory from a lack of new construction continues to create affordability challenges, particularly at the lower end of the market. Robust rental demand during the second quarter of the year has created the lowest rental vacancy rate in decades. In addition, the homeownership rate dropped to below 63 percent in the second quarter, but we are seeing some tentative signs of older Millennials moving toward homeownership. We expect homebuyers will benefit from improving job and wage growth, more favorable lending standards, and continued low mortgage rates through the rest of the year, with the 30-year fixed-rate mortgage rate projected to average 3.4 percent during the fourth quarter.”
Filed under: Economy, Morning Report, politics |
Donald Trump was a mortgage broker
Just not a very good one. But that is par for the course on his endeavors.
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yello:
Just not a very good one. But that is par for the course on his endeavors.
Trupm’s primary life endeavor has been self promotion, and it would be difficult to argue that he hasn’t been successful at that. In fact one might argue that he has been even more successful at that than even the Clintons have been.
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No, they’ve done better. They figured out how to do it in a tax deductible manner.
https://www.washingtonpost.com/politics/the-inside-story-of-how-the-clintons-built-a-2-billion-global-empire/2015/06/02/b6eab638-0957-11e5-a7ad-b430fc1d3f5c_story.html
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jnc:
No, they’ve done better. They figured out how to do it in a tax deductible manner.
Fair enough. The nod goes to the Clintons.
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Gasp!
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I like Comey, but I think he’s wrong here:
“In announcing the FBI’s findings in July, Comey said investigators found no evidence that the emails it found “were intentionally deleted in an effort to conceal them.””
https://www.washingtonpost.com/local/public-safety/fbi-uncovered-at-least-14900-more-documents-in-clinton-email-investigation/2016/08/22/36745578-6643-11e6-be4e-23fc4d4d12b4_story.html
The technical people knew exactly what was up:
““Starting to think this whole thing really is covering up some shaddy shit,” the employee continued. “I just think if we have it in writing that they told us to cut the backups, and we can go public saying we have had backups since day one, then we were told to trim to 30 days, it would make us look a WHOLE LOT better.”
http://www.politico.com/story/2015/10/hillary-clinton-emails-server-214487
http://www.mcclatchydc.com/news/nation-world/national/article37968711.html
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i think the federal judge needs to start jailing people for contempt. this is getting ridiculous.
” “carefully appraised at State” to separate official records from personal ones.”
easy enough — if it was on State’s system, it wasn’t personal. that’s work email 101.
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Enjoying some schadenfreude over this one.
http://www.slate.com/blogs/moneybox/2016/08/17/a_local_preference_affordable_housing_plan_in_san_francisco_might_violate.html
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Funny how housing follows the laws of supply and demand.
//platform.twitter.com/widgets.js
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well, if it is only the luxury end that is getting built, that makes sense that it would pull up the averages.. which is probably the case in SF…
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Yesterday I talked to two SF progressives who are absolutely convinced that building more houses raises rents. Amazing.
Reminds me those people who are absolutely convinced that increasing the cost of labor produces more, not fewer, jobs.
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Or that Single Payer will reduce costs and improve health.
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But, raising the minimum wage will give people more money to spend, and consumption drives the economy, so we’ll have so much aggregate demand it will be falling out of our pants pockets!
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Or the people that are absolutely convinced that asocial Security is not a Ponzi scheme.
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Not “schadenfreude”, “schadenboner”
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Weird.
http://freebeacon.com/national-security/state-dept-warns-iran-seeking-capture-u-s-citizens/
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Don’t worry. I’m sure the administration would pay a not-a-ransom for any of us.
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You should only visit countries where the US “owes” money no previous Administration ever intended to pay.
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someone should ask bill clinton why he didn’t return that money.
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NoVA, I hope that when HRC wins that the Republicans take a hands off approach to the ethics issues.
Let them run riot and do whatever they want. Full scale bribery for pardons, etc. Bring down the whole system and end any pretense of good government. Let the press report helplessly and the Republicans simply say that it’s up to Democrats to hold the Clintons accountable if they chose to do so.
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It really chaps my ass that people can run around with their hair on fire about CU and then turn around and say the Clinton’s are beyond reproach and the victims of a witchhunt
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agree.. the best result is that people lose faith in good government. progressives require people to drink the koolaid in order to get the control they want…
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I admit I’m enjoying the whole “Hillary has terrible health issues” theory being generated on the Right. It’s pissing off the right people and it’s nice payback for the whole “John McCain was tortured into insanity by the Vietnamese, even though They didn’t torture and even if they did it was understandable because war criminals.”
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NoVA, you watch “Stranger Things” on Netflix yet?
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I haven’t. it’s on the list. worthwhile?
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Yes.
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jnc:
NoVA, you watch “Stranger Things” on Netflix yet?
My daughter and I watched it together. I liked it. Great 80’s nostalgia.
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Meh, nothing to see here.
http://www.washingtonexaminer.com/debt-to-reach-highest-level-since-1950/article/2599983
No effects whatsoever.
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It was never rational to think or ever expect they were.
http://mobile.nytimes.com/2016/08/23/podcasts/media-truth-charlie-sykes.html?referer=http://hotair.com/headlines/archives/2016/08/23/media-as-referee-not-anymore/
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McWing:
It was never rational to think or ever expect they were.
The only people to blame for the NYT’s loss of “final arbiter” status is the NYT itself.
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And the media generally. For something to be a final arbiter of facts, it would have to be structured very differently than the media is. And there would be no place for an editorial page in a publication that was considered to be an arbiter of conclusive facts.
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i can’t even waste my vote on the Libertarian candidate in good conscience.
There are no True Pure Libertarians. Just ask any libertarian.
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yello:
There are no True Pure Libertarians.
It has nothing to do with purity. He’s not just compromising on Libertarian principles. Far worse he seems to have no clue what they even are.
And a tax doesn’t magically transform itself into a “free market” solution just because one thinks the tax is needed. This kind of rhetorical flimflammery is more understandable (if no less irritating) coming from mainstream party candidates than from third party candidates with literally no chance of winning anything, the primary attraction of which is being able to actually be honest with people without fear of losing votes.
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I’d rather see Weld as the candidate presently.
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