Mortgage Rates See Huge Increase for First Time in 2 Months

Today’s News Synopsis:

Two leaders spoke out their opposing views on raising interest rates with Jamie Dimon being for it and Lael Brainard against it. Mortgage rates saw a big increase this past weekend for the first time in two months with 30-year rates at 3.5%. A recent survey by STR asked which commercial real estate markets may be going too far on construction, the top ones being industrial and multifamily.

In The News:

CNBC – “Mortgage rates finally break higher: What you should watch” (9-12-16)

“Mortgage rates took their biggest leap in two months on Friday, thanks to a sell-off in the U.S. bond market. Mortgage rates loosely follow the yield on the 10-year Treasury.”

Bloomberg – “Jamie Dimon Says It’s Time for Fed to Raise Interest Rates” (9-12-16)

“JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the Federal Reserve should increase interest rates — sooner, rather than later.”

NAHB – “NAHB Members Celebrate Professional Women in Building Week” (9-12-16)

“Members of the National Association of Home Builders are celebrating Professional Women in Building (PWB) Week Sept. 12 – 16.”

Mortgage Bankers Association – “MISMO Launches New Program for MISMO Champions” (9-12-16)

“MISMO® , the Mortgage Industry Standards Maintenance Organization, announced today that it has launched a new program for organizations that wish to be recognized as leaders in the mortgage industry.”

Urban Land – “Which U.S. Commercial Real Estate Sectors Might Be Nearing Oversupply?” (9-12-16)

“Construction during the current real estate cycle has generally stayed below historical trends, but deliveries have increased as the cycle matures, prompting a look at whether markets are becoming overbuilt.”

DS News – “REO Agents and Brokers Prepare for the Future” (9-12-16)

“MGIC Investment Corporation recently issued their August 2016 Operational Summary of the primary mortgage insurance of its insurance subsidiaries, according to recent release for the company.”

Bloomberg – “Brainard’s Argument for No September Hike Likely to Sway Fed” (9-12-16)

“Federal Reserve Governor Lael Brainard has just released a post-crisis monetary policy manifesto aimed at defusing any urgency to raise interest rates.”