Some Perspective on the Housing Sector

Housing Sector Weighs on 3rd Quarter GDP

Another Look at the Trend in Home Prices

Fed Sees Moderating Economic Expansion and Inflation Pressures

The FOMC kept the fed funds rate at 5.25% today, as expected. The only differences in the last two meeting statements is a projection in today's that the "economy seems likely to expand at a moderate pace" and energy prices, instead of helping "to sustain inflation pressures" are now seen as helping to moderate them. This outlook on the economy and inflation suggests that the Fed has relaxed its rate tightening stance.

FOMC Policy Statement

State of the Mortgage Industry

Mortgage Originations Fell 16% in First Half of 2006 (MarketWatch / DowJones)

Caution Urged Regarding 'Exotic' Mortgages

More Home LoansGo Sour (Wall Street Journal -- Subscription)

Can U.S. curb the 'exotic mortgages' frenzy that puts homeowners at risk? (MarketWatch/DowJones)

Home-Equity [--and subprime --]Loan Delinquencies Increase, Moody's Says (Bloomberg)

OCC head-States need tighter exotic mortgage rules (Reuters)

John C. Dugan's Speech (Office of the Comptroller of the Currency)

Economic Observation

The Federal Reserve said this morning that its gauge of industrial production -- output from the nation's factories, mines, and utilities -- fell by 0.6% last month after a flat (0.0%) reading in August. But, on a year-over-year basis, output has been increasing since October of 2003. Despite a weakening trend between May of 2004 and September of 2005, expansions have been gaining in strength over the last year.

Mortgage Advise for Pre-Retirees From Jane Bryant Quinn

For Most Boomers, Real Estate is Their Biggest Asset. But Making the Best Use of it Requires Planning. (MSNBC / Newsweek)

Industry News

Fannie, Freddie Mortgage Bonds May Gain on Lehman Index Changes (Bloomberg)

The relevance of this somewhat technical article for the consumer is that it may have a bearing on mortgage rates.

Recent News Articles on the Housing Downturn

Housing Downturn Won't Hurt Consumer Spending (DowJones)

Big downturn seen for some home markets (CNN)

Real estate downturn hits real estate agents (CNN)

The Fed is Watching

Above is a graphic illustration of why the bond market has reacted in such a negative fashion to today's employment report for September.

Mortgage Application Activity on the Rise Due to Recent Dip in Rates

Mortgage Bankers Association of America

Spanish Language Versions of Mortgage Documents Now Available

WASHINGTON, DC -- Fannie Mae (FNM/NYSE) and Freddie Mac (FRE/NYSE), two of the nation's largest sources of financing for residential mortgages, announced today the joint availability of 83 non-executable Spanish translations of the Fannie Mae/Freddie Mac Uniform Instruments to help lenders and others in the residential mortgage industry better serve Spanish-language dominant consumers in becoming homeowners. The translations are meant to complement the English-language documents a mortgage borrower would sign.

WASHINGTON, D.C. -- Fannie Mae (FNM/NYSE) y Freddie Mac (FRE/NYSE), dos de las mayores fuentes de financiamiento para hipotecas residenciales, anunciaron en el día de hoy la disponibilidad de 83 traducciones al español de los Instrumentos Uniformes de Fannie Mae/Freddie Mac, no ejecutables, pero ayudarán a los prestadores y a otras instituciones dentro de la industria de hipotecas residenciales a servirles a los consumidores de habla hispana que desean convertirse en propietarios de vivienda. Las traducciones complementarán los documentos en inglés que el prestatario hipotecario firmará.

Read more . . .

Fannie Mae

Freddie Mac